Telegram Founder Foresees Crypto-Inspired Secure Devices amid Increased Surveillance
Summary:
Amid escalating government surveillance, Telegram founder, Pavel Durov predicts the advent of secure communication devices resembling crypto hardware wallets. Post-halving profitability concerns lead to a downturn in Bitcoin miner stocks. Meanwhile, the Avalanche blockchain-based Home Equity Line of Credit (HELOC) protocol, Homium, completes a $10 million venture capital funding round.
As government surveillance on digital communication intensifies, the founder of Telegram, Pavel Durov expects the emergence of secure communication devices akin to cryptocurrency hardware wallets. Meanwhile, post-halving profitability concerns pulls down Bitcoin miner stocks from their 2024 highs. In another development, a home equity line of credit (HELOC) protocol based on Avalanche blockchain has secured funding of $10 million in venture capital.
The founder of Telegram Messenger, Pavel Durov, anticipates a future where increased government scrutiny will necessitate the development of secure communication devices, comparable to cryptocurrency hardware wallets. During an April 17 interview with Tucker Carlson, Durov expressed concerns over the growing suppression of private communication by governmental bodies, and warned of an impending crackdown on privacy due to their increasing technological prowess.
Edward Snowden, notorious American whistleblower, similarly expressed concerns about the US National Security Agency (NSA) supposedly increased surveillance initiatives slated for the near term.
On another front, stocks of Bitcoin (BTC) miners have slipped after threats of declining profitability post-halving. Mitchell Askew, head analyst at Bitcoin mining company Blockware Solutions, shared with Cointelegraph that the investors' concerns are largely unwarranted. Drops in stocks of notable miners such as Marathon Digital, Riot Platforms, CleanSpark, Singapore's Bitdeer Technologies, and Australia's Iris Energy have been noted.
Meanwhile, Homium, a protocol utilizing tokenization of Home equity line of credit (HELOC) on the Avalanche blockchain, recently closed its funding round successfully with a solid $10 million gathered from Sorenson Impact Group and Blizzard. Homium is designed to allow homeowners to borrow against their home equity without additional monthly financial obligations. Investors in return receive a tokenized asset that follows the value appreciation of a cluster of shared homes on Homium.
Currently only available in Colorado, US, major banking entity, Citi, defines real-world asset tokenization as the next promising application for cryptocurrency, predicting a reach of $5 trillion by 2030.
This piece doesn't provide investment advice. It's recommended that readers carry out independent research for every investment and trading move since they involve risk.
This report contains contributions from Geraint Price, Sam Bourgi, and Felix Ng.
Published At
4/17/2024 3:46:59 PM
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