NiftyNoon: Does CitiBank’s Private Blockchain Network Matter?
Citi’s push to adopt a permissioned blockchain network could be a major push toward tokenization (September 19, 2023)
Nifty Thought
Institutional adoption of the blockchain is always exciting. Much has been said about CitiBank’s push to offer tokenized deposit offerings to its customers through the bank’s treasury and trade solutions group. It is important to note however, that this offering will rely on a fully permissioned private blockchain network that is entirely managed by the bank. On one hand, this is interesting in that clients do not need to set up and custody their own digital wallets. The user experience is smoother and the risk of transaction fraud, which is clearly commonplace in crypto, should be lower. However, these permissioned blockchain networks strip much of what makes crypto unique. In many ways, this serves as a manifestation for the permissioned blockchain networks Morgan Stanley described in their published research in 2017. While Citibank’s move may be exciting for the adoption of blockchain overall, the closed nature of this adoption may mean that this does very little to help progress the decentralized Bitcoin and Ethereun future that so many crypto enthusiasts believe in.
Highlighted News
Banking giant Citi will transform customers’ deposits into digital tokens that can be sent instantly anywhere in the world:
https://twitter.com/radarhits/status/1703788214618579152?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Tickets for the Yacht Club Open House are now on sale:
https://twitter.com/BoredApeYC/status/1703756941665697849?s=20
Project and Community News
$1.72 trillion asset manager Citigroup launches digital token & private blockchain system for real-time payments:
https://twitter.com/WatcherGuru/status/1703800578583728604?s=20
Gaming NFTs have been absolutely COOKING:
https://twitter.com/easyeatsbodega/status/1703948809837912291?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Azuki x @MuseumOfMahomes limited edition “Scorching Sidearm Pass” physical trading card now open for redemption:
https://twitter.com/azuki/status/1703864739439513789?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
"make it more opepen":
https://twitter.com/jackbutcher/status/1703870031036084268?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
@purphat shares he is stepping down as CTO at Art Blocks and heading back to Google:
https://twitter.com/purphat/status/1703804691820499338?s=46&t=vsPt9jVLYJWs3QHxKF7JqA
What is (3,3) in Friend Tech? :
https://twitter.com/rektmando/status/1703741156453183921?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
HASHMARKS mint pass auction is now live:
https://twitter.com/_deafbeef/status/1703809644030783645?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
My @gucci Grail arrived Today:
https://twitter.com/itzbermuda/status/1703823942094402037?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Chimpers introduce Adventure 6:
https://twitter.com/chimpersnft/status/1703822342118347083?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Overlord shares Rune crafting will start at 10:30AM EST on Wednesday 20th September:
https://twitter.com/overlord_xyz/status/1703850532362666096?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
2 year birthday at @MagicEden:
https://twitter.com/hausoftiffany/status/1703803295335162120?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
@LastKnightEth - @zagabond meetup:
https://twitter.com/lastknighteth/status/1703809488753754600?s=46&t=tYVPx9ho13KuyjOl-hMWKQ
The brutal decline in NFT volumes continues:
https://twitter.com/punk9059/status/1703742284733587658?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
FriendTech key volume fell pretty sharply over the weekend but continued to do nearly 2x as much volume as ETH NFTs:
https://twitter.com/punk9059/status/1703807852174053475?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Quick Stats:
Blur ETH Daily Volume: 2,361 ETH (▲ 38.23%)
OpenSea ETH Daily Volume: 1,274 ETH (▲ 42.19%)
BTC: $26,873.41 (▲ 0.52%)
ETH: $1,636.72 (▲ 0.1%)
Solana: $19.80 (▲ 3.45%)
Polygon: $0.53 (▲ 1.33%)
NFT Daily Winners:
🦉 Moonbirds: 1.29 ETH (▲ 2.71%)
🧟 Mutant Ape Yacht Club: 4.93 ETH (▲ 0.90%)
🏳️🌈 Chromie Squiggles: 10.00 ETH (▲ 0.01%)
🐧 Pudgy Penguins: 4.07 ETH (► 0.00%)
🌈 Doodles: 1.25 ETH (► 0.00%)
NFT Daily Losers:
🦧 Bored Ape Yacht Club: 24.30 ETH (▼ 1.18%)
🧬 Clone X: 1.28 ETH (▼ 1.27%)
⛩️ Azuki: 3.78 ETH (▼ 1.35%)
⛰️ Otherdeeds: 0.52 ETH (▼ 1.44%)
👩🏻 Milady Maker: 2.63 ETH (▼ 3.16%)
🚬 CryptoPunks: 44.99 ETH (▼ 3.64%)
🐈⬛ VeeFriends: 1.60 ETH (▼ 5.88%)
🏴☠️ Captainz: 3.07 ETH (▼ 6.15%)
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