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Leading the way in Web 3.0, Wolters Kluwer Tax & Accounting purchases virtual land

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Leading The Way In Web 3.0, Wolters Kluwer Tax &Amp; Accounting Purchases Virtual Land
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1663611870 308 Leading The Way In Web 30 Wolters Kluwer

NEW YORK–(BUSINESS WIRE)–#AI—Wolters Kluwer Tax & Accounting recently staked its first claims on virtual land in the Metaverse, purchasing virtual real estate on Blockchain-based platforms Decentraland and Somnium Space.

Wolters Kluwer Tax and Accounting initially plans to utilize its new virtual land parcels in the metaverse to create new, more engaging ways for its global teams to collaborate with each other and with customers – via virtual meetings and customer events. The company also plans to conduct research and explore the development of products and services that can help its clients transform work and collaboration processes while improving productivity and efficiency.

“The metaverse will very likely reshape business models, product portfolios, and the way people collaborate,” said Karen Abramson, CEO of Wolters Kluwer Tax and Accounting. “Ultimately, our leadership in this next technology revolution will enable increased productivity and revenue opportunities for our customers.”

These virtual real estate purchases further build Wolters Kluwer’s position as the technology leader in the tax and accounting domain. Earlier this year, Wolters Kluwer released a Blockchain-based bank confirmation solution, CCH Axcess Validate, for external auditors, that uses a patented Blockchain-based algorithm to exchange requests and replies between the parties, providing a certified audit trail showing proof of all interactions and identities of the involved parties.

Wolters Kluwer joins other forward-thinking, technology-savvy companies – including, in the finance, tax and accounting realm, Accenture, JPMorgan Chase, PwC and Prager Metis, among others – that have staked their leadership claims in defining how Web 3.0 will shape their industries and serve their clients.

Decentraland and Somnium Space are decentralized, 3D virtual platforms powered by the Ethereum Blockchain, where users can create, experience, and monetize content and applications. Together with other, competitive, decentralized 3D virtual platforms, Decentraland and Somnium space are defining the next paradigm shift in the evolution of the Internet, often called “Web 3.0,” which will interconnect people, places, and things in real and digital worlds in new and transformative ways.

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.

Wolters Kluwer reported 2021 annual revenues of €4.8 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,800 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

For more information, visit www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.

Contacts

KELLY DE CASTRO

Wolters Kluwer Tax & Accounting

+1 614-288-5640

[email protected]

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CAKE Trading Volume Spikes Over 50% In 24 Hours

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PancakeSwap (CAKE), just like any other cryptocurrency, has had its share of ups and downs.

  • PancakeSwap registers over 53% increase in 24-hour trading volume
  • PancakeSwap among trending BNB projects today
  • CAKE’s next resistance level could be at $5

Just two months after it was launched on September 2020, the token hit its all-time low to date. Back then, it was trading at just merely $0.19.

Today, a quick glance of data provided by CoinGecko shows the 68th ranked crypto by market capitalization trading at $4.80. It is way below its $43.96-all-time high that was attained on April 30, 2021.

CAKE might have lost 89% of that impressive trading value, but that does not necessarily mean the token is not commanding strong interest among traders.

If anything, current data shows Christmas came early for the digital asset.

PancakeSwap Outperforms Many Cryptocurrencies

The crypto market is continuing to deal with bearish conditions, but CAKE was able to pull off an impressive feat – close the day and the week in green and outperform many of its competition.

Over the last seven days, the governance token of PancakeSwap was able to increase its value by 9.4% and is one of the few digital assets to be “on the green” in today’s market.

Source: CoinGecko

Its price recovery is not the only thing that is impressive about CAKE right now. Its 24-hour trading volume is also standing mighty strong.

In fact, there was a 52% increase in the token’s trading volume, even reaching over $55 million before slightly reverting to above $51 million at the time of this writing.

Even with that, PancakeSwap has shown some impressive leaps for the past week.

Will The Token Sell Like Real Pancakes?

If its most recent trading volume is any kind of indication, the digital currency, by the looks of it, actually sold like pancakes.

After all, high trade volumes often denote “high retail excitement” and in crypto space, this might work wonders for an asset’s price.

Over the past week, CAKE placed high on the watch list of crypto investors and is among the trending BNB projects.

The PancakeSwap bulls, though, needs to capitalize on this momentum in order to sustain price level of above $4.50 as this will lead to $5 as the next resistance level.

If the pressure for buyers remains strong, CAKE’s short-term trajectory could be a sweet one.

Cake Trading Volume Spikes Over 50 In 24 Hours

CAKE total market cap at $676 million on the daily chart | Source: TradingView.com

Featured image from Cryptopolitan, Chart: TradingView.com

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Arthur Hayes Questions PoS Ethereum’s Decentralization, Suggests Rising Price

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The controversial Arthur Hayes is asking a burning question in his latest blog post. The former BitMEX CEO compares the PoS Ethereum to Binance Smart Chain, that’s famously and admittedly centralized. Arthur Hayes also describes how the validator’s disagreements with the majority are going to go, and predicts disaster for the dApps that build over a platform that doesn’t prioritize censorship resistance. In the short term, though, he’s bullish on Ethereum.

Before Artur Hayes gets into all of that, he describes a concerning reality that many people in crypto Twitter have noticed and discussed. It has to do with the validators:

“As of 21 September, Lido Finance, Coinbase, and Kraken together control slightly over 50% of all ETH staked on the beacon chain. This means they are the most powerful validators and, in essence, they could censor what sorts of transactions are processed. What do all three of these centralized entities have in common? They are all US-owned companies or DAOs with major investments from US venture capitalists.”

For those keeping score, that’s a centralizing factor and a few single points of failure. All of those companies are under US jurisdiction, one of the most restrictive in the world. And of course, Arthur Hayes recognizes  “protections in place to help ensure decentralization” and that the system punishes validators that censor transactions. Nevertheless, the PoS system seems fragile. Big institutions that the government can sue are the validators. And the biggest validators will control the whole system. 

Arthur Hayes Sees Centralization 

How will the slashing mechanism that punishes unruly validators play out? According to Arthur Hayes, this is how the system will deal with rebels: 

  • “There is a way to slowly lose your ETH if < 33% of the network refuses to attest to blocks. Slowly losing your ETH means that a validator is punished by reducing the deposit on a node. Should the deposit drop below 16 ETH, that validation node is removed from the network. This capital becomes dead capital as for the foreseeable future you cannot unstake ETH.”
  • “There is a fast way to lose your ETH if > 33% of the network refuses to attest to blocks. The penalties get exponentially worse quickly such that opposing validators quickly fall below the 16 ETH threshold and are booted from the network.”

If that happens, Hayes predicts that everyone will let that happen again and again, and compares it to the original DAO story. Ethereum’s developers decided to fork and “everyone at the time tacitly went along with the devs who forked the protocol so that folks could get their money back, rather than staying true to Ethereum’s supposed “code is law” ethos.”

ETH price chart on OkCoin | Source: ETH/USD on TradingView.com

Bullish On Ethereum Short-Term

Don’t get Arthur Hayes wrong, despite the criticism of the platform and PoS systems, he still thinks Ethereum will do well in relation to the dollar. 

“ETH as a financial asset — fully tethered to the US-led financial system and under the pretense of “decentralization” — could still do extremely well in the near future. The issue that I wrestle with is whether truly decentralized financial and social dApps can exist at scale (i.e., with hundreds of millions of users)”

In the end, it all goes back to the most important factor: scarcity. According to Hayes, the only thing that matters in the next three to six months is “how ETH issuance per block falls under the new Proof-of-Stake model. In the few days post-merge, the rate of ETH emissions has dropped on average from a +13,000 ETH per day to -100 ETH.” If this continues, Arthur Hayes is optimistic: 

“The price of ETH continues to get smoked due to deteriorating USD liquidity, but give the changes in the supply and demand dynamics time to percolate. Check back in a few months, and I suspect you’ll see that the dramatic reduction in supply has created a strong and rising floor on the price.”

Is the former BitMEX CEO right about this? We’ll find out soon enough.

Featured Image by GuerrillaBuzz Crypto PR on Unsplash  | Charts by TradingView

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VeChain Partners With TruTrace For Wider Blockchain Adoption

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Vechain Partners With Trutrace For Wider Blockchain Adoption
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