The Digital Standard: Essential Updates for Blockchain Professionals

Author

Steve Nicholls
July 02, 2024

Edition: July 2024 | Read time: under 5 minutes

Welcome to The Digital Standard

Stay ahead of the curve with The Digital Standard, designed to deliver some of the most important blockchain and Web3 developments straight to your inbox. Our focus is on bringing you insights that matter and perspectives from industry experts while keeping the community up to date.

This Month’s Headlines

  • EU Leading the Way with the Aid of Crypto Regulations

  • Australia’s Tax Office Cracks Down on Crypto Taxes

  • Layer 2 Development Continues to Take the Spotlight

  • Community Updates

  • Web3 Careers

  • Crypto Market Latest

Listen:  Networking on the Blockchain is a weekly LinkedIn Audio Event which aims to provide a platform for its listeners to connect with other professionals in the blockchain industry.

EU Leading the Way with the Aid of Crypto Regulations

The European Union’s landmark Markets in Crypto-Assets Act (MiCA) has introduced new regulatory requirements for stablecoin issuers. This pivotal move aims to bring greater stability and transparency to the crypto market, marking a significant step towards the regulation era in the industry. As of Monday (July 1), stablecoin issuer Circle has become the first global stablecoin issuer to obtain an Electronic Money Institution (EMI) licence under the regulations. This positions the EU as a hub, putting organizations within it a step ahead of those outside. Read more here.

Australia’s Tax Office Cracks Down on Crypto Taxes

The Australian Taxation Office (ATO) is ramping up efforts to catch cryptocurrency tax evaders with its latest data-matching program. Utilizing the blockchain’s inherent transparency and leveraging AI and automated systems, the ATO aims to ensure taxpayers properly report their crypto transactions. This initiative underscores the critical need for individuals to be vigilant about the tax implications of their blockchain activities. As AI and automated review systems become more sophisticated, the importance of accurately declaring crypto transactions cannot be overstated as it is likely for other regions to follow suit. Read more here.

Layer 2 Development Continues to Take the Spotlight

This summer, Layer 2 solutions are experiencing a significant boom, emerging as the latest trend in blockchain development, addressing major blockchain scalability issues. A noteworthy development is the acquisition of the Layer 2 solution Frame by Igloo, the parent company of the popular NFT project Pudgy Penguins. Igloo has rebranded Frame as Abstract Chain to enhance its Ethereum Layer 2 blockchain capabilities. Known for leading the market in NFT intellectual property, Pudgy Penguins' venture into Layer 2 solutions aims to mirror its success in the NFT space and compete with other major players like Coinbase-backed $BASE. This could potentially position Abstract Chain as a significant contender in the Layer 2 market and add an additional benefit for the Pudgy Penguins ecosystem. Read more here.

ApdA Community Update

If you are new to ApdA you can find out all about what we are building here. In short, we are a professional association tailored for blockchain professionals, enabling our members to verify their professionalism and ethics on-chain through Soul-Bound Tokens.

Weekly Networking Event:

This week not only marks the first edition of our Newsletter but also the first episode of Networking on the Blockchain, a weekly LinkedIn Audio Event providing a platform for the audience to connect with other professionals in the blockchain industry. The event runs every Wednesday 15:00 BST / 10:00 EST.

This week we have the pleasure of guest co-host Alexandra Overgaag, founder of Thrilld Labs, who have developed the blockchain based networking app Thrilld. Register for the event here.

Working Group:

ApdA Working Groups aim to facilitate collaboration on pivotal blockchain topics, bringing together industry leaders and opening doors for collaboration between attendees. Our first discussion focuses on decentralisation, addressing its challenges and opportunities. Following an initial session, our focus has been tailored to building a repository of useful information, establishing ethical and professional guidelines for decentralisation and compiling a summary its benefits.

As our inaugural topic, we have opened the group to non-ApdA members. If you or your organisation wishes to get involved, please email [email protected].

Partnerships and Collaborations:

BlockStart Scotland: Scotland’s first major Web3 Event being held 1st and 2nd August at The Barras Art & Design, Glasgow. ApdA has the pleasure to attend as Community Partner and looks forward to an exciting and collaborative event alongside the BlockStart Team, all the great speakers and its attendees. As part of the community partnership we are happy to share an exclusive discount code “APDA99” to be applied at Late-General Admission (2 day pass), giving you two day access for just £99, down from £220. See full details of the event here.

Thrilld Labs: With Thrilld, a free and open-access app, Web3 professionals worldwide find one another to talk business. Thrilld also works as a Web3 event networking solution. ApdA’s partnership with Thrilld Labs will bring forward various collaborative events and initiatives for each of our communities. See the full announcement and download the Thilld app here.

Web3 Careers

Dive Opportunities:

Dive is recruiting Web3 talent for the following remote positions at a well-funded blockchain analytics startup:

  1. Integration Specialist 

    • Requirements: Typescript proficiency, previous Web3 work experience

    • Salary: $80-100k

  2. Backend Engineer 

    • Requirements: 6+ years software engineering experience, proficiency in NodeJS, Express/Fastify/GraphQL, TypeScript, Postgres, Redis, PubSub, GKE, BigQuery, Datadog, Stackdriver, Nest.js, Scylla, Clickhouse & Kafka

    • Salary: $200-250k

Please sign up at divetalent.com and send your CV to [email protected] for consideration.

Opportunity Highlights

Crypto Market Update

This month we give you Market Thoughts by friend of the Newsletter, DWDrummer. Log in via the Awardable Platform to read the full update here.

“Bitcoin and altcoins are at critical support levels, with potential for a bullish breakout or further consolidation, while key economic indicators this week could impact market trends.”

Your Feedback Matters

What did you think of today's newsletter? Your feedback helps us improve and tailor our content to better meet your needs. Let us know via [email protected].

Thanks for reading!

Steve aka Janner

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