Web3🌗Wednesday Roundup: Blockchain IDs in Buenos Aires, MakerDAO's Brand Debate, and Tesla's Bitcoin Moves!

Happy Wednesday, Web3 enthusiasts! As we reach the midweek mark, let’s dive into today’s exciting roundup of developments shaping the digital landscape. From Buenos Aires pioneering blockchain-based IDs for its 3.6 million residents to the intriguing twists in MakerDAO’s brand strategy, there’s plenty to discuss. We’ll also touch on Peter Todd’s unexpected retreat following HBO's ‘Satoshi’ film and Tesla's significant movement of $776 million in Bitcoin while maintaining control of its wallets. Join us as we unpack these stories and explore their implications for the world of decentralized technology!

1. Buenos Aires launches blockchain-based IDs for 3.6M residents

Buenos Aires has launched decentralized digital IDs for 3.6 million residents through the QuarkID protocol, integrated into the city’s miBA platform. Powered by ZKsync Era, an Ethereum scaling solution using zero-knowledge rollups, the initiative gives users full control over their personal data, enhancing privacy and security. This blockchain-based solution aligns with the city’s recent push for digital innovation, following the introduction of on-chain birth and marriage certificates. The government aims to set a new standard for secure digital identity management, empowering citizens to own and manage their data for interactions with public services, businesses, and other individuals.

Buenos Aires rolls out blockchain-based ID for 3.6M residents

Buenos Aires has announced the integration of blockchain technology and zero-knowledge cryptography for the issuance of digital identities for over 3.6 million residents.

CointelegraphAna Paula Pereira

2. Peter Todd goes into hiding after HBO's ‘Satoshi’ film

Peter Todd, a Canadian cryptographer, has denied claims from HBO’s documentary “Money Electric: The Bitcoin Mystery” that he is Bitcoin’s creator, Satoshi Nakamoto. Despite Todd’s refutations, the film concluded with him as Satoshi, leading to harassment and safety concerns, forcing him into hiding. In an interview, Todd stated that falsely identifying people as wealthy makes them targets for threats like robbery. He criticized the documentary for exploiting the Satoshi link for publicity, while the film’s director defended the conclusions. The mystery of Bitcoin’s creator continues, with various other figures previously suspected, including Hal Finney and Adam Back.

Peter Todd forced into hiding after HBO’s ‘Satoshi’ film

Peter Todd says he’s been harassed and fears for his life after the recent HBO documentary that pointed him out as Bitcoin creator Satoshi Nakamoto

crypto.newsBenson Toti

3. MakerDAO debates dropping Sky brand

Sky has underperformed against the CoinDesk 20 index since its rebranding, prompting MakerDAO to consider dropping the Sky brand. The recently launched USDS stablecoin has been successful, boasting a supply of $1.2 billion and a 6.5% savings rate. Sky co-founder Rune Christensen highlighted the community's preference for the Maker brand, known for its stability and trust. Three proposals are being discussed: continue with Sky, revert to the original Maker identity, or refresh the Maker brand. With significant investments in the rebranding, MakerDAO plans to gather community feedback before a governance poll on November 4.

MakerDAO Contemplates Dropping Sky Brand as Community Debates

SKY has significantly underperformed the CoinDesk 20 index, since the re-brand.

CoinDeskSam Reynolds

4. Tesla shifted $776M in Bitcoin but still controls wallets: Arkham

Tesla recently moved its Bitcoin holdings in a series of transactions, but blockchain firm Arkham Intelligence believes the electric car company still retains ownership. The Bitcoin had remained untouched for two years before being transferred into seven new wallets, likely controlled by Tesla. Despite concerns about Bitcoin mining's environmental impact, Tesla still holds 11,509 BTC, valued at approximately $776 million. This places Tesla among the top public companies holding Bitcoin, trailing only behind U.S. Bitcoin miners and MicroStrategy, which holds around $17 billion in BTC. Tesla's cryptocurrency journey has seen ups and downs since its $1.5 billion investment in 2021.

Elon Musk’s Tesla Moved $776 Million in Bitcoin, But Is Still in Control of Wallets: Arkham - Decrypt

Electric car company Tesla moved its stash of Bitcoin last week, but data firm Arkham believes that Elon Musk’s company is still holding.

DecryptMat Di Salvo

As we wrap up today’s Web3 Roundup, it’s clear that the landscape of decentralized technology continues to evolve at a rapid pace. From innovative blockchain solutions in Buenos Aires to the strategic decisions facing MakerDAO, each development offers valuable insights into the future of our digital world. Tesla’s ongoing engagement with Bitcoin also highlights the enduring significance of cryptocurrency in mainstream business. We’ll be keeping a close eye on these stories and more, so be sure to stay tuned for the latest updates. Until next time, keep exploring the exciting possibilities of Web3!

WEB3 AI ML