Web3 enjoys a positive shift in the atmosphere in China - Financial Times Web3



Web3 Enjoys Positive Vibe Shift in China

Web3, the cryptocurrency that many believe will be the backbone of the future digital economy, has enjoyed a positive vibe shift in China this week as investors digested news that the company had secured a banking license. 

The move by Beijing-based Web3, which launched in October as the first cryptocurrency built for the mainstream, is another major step toward mainstream adoption for the still-nascent industry. 

It also comes at a time when investors are starting to take notice of the potential of cryptocurrencies and blockchain, which is helping to boost the space’s broader appeal. 

The license, which was granted by the China Banking Regulatory Commission (CBRC), will allow Web3 to issue banking cards and access lines of credit.

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The latest news from China is positive for Web3. 

The company’s second-largest market has adopted a more positive tone in recent days as the government continues to back the technology and as the market recovers from a major sell-off last month. 

The government is continuing to support Web3 in its quest to become the “decentralized web,”which will allow users to access the web without third-party intermediaries and will be powered by the underlying Ethereum blockchain. 

This comes a week after the Chinese Ministry of Industry and Information Technology announced it would provide R&D funding for decentralized web projects, while also saying it would “promote large-scale application of blockchain technology.”

Web3 has experienced a positive vibe shift in China this quarter, with outreach and interest increasing and partnerships and deals hitting new highs. 

The company has been expanding its presence in the country, opening offices in Shanghai and San Francisco, bringing on new partners, and increasing its marketing and outreach efforts. 

All of this has led to an increase in the number of first-timers visiting the platform, who have discovered a more accessible and intuitive experience than in the past. 

This in turn has increased interest and partnership opportunities, which have also led to new highs.

The customary buzz of activity and excitement in the region has shifted to one of optimism and hope, Web3 CEO Jeremy Allaire said. 

He noted that Chinese investors and developers are “almost a little bit in shock” at the news of the U.S. 

tariffs, but they’re “moving very quickly in the other direction, of saying, ‘OK, how do we get the most value out of the relationship we have with the United States?’

As the U.S.-China trade war heats up, a new report from Web3 shows that sentiment towards China has shifted significantly for the better in the past year. 

The company’s data shows that positive sentiment towards China surged in the second quarter of 2019, compared to the same quarter last year. 

Positive sentiment towards China has grown by more than 100% since the first quarter of 2019, when it was still reeling from the fallout from the Dalian incident. 

Over the past four quarters, positive sentiment towards China has grown by an average of 28%.



Shanghai Aims to Become Capital of the New Digital World

[Shanghai aims to become] the world\'s \"first\" internet city, with a population of around 46 million, by 2030, on the back of 6 billion dollars of government support and a strategic plan that has brought prestige to Shanghai and shined a light on the city\'s approach to digital development.

The only global city to host three major international sports events, Shanghai has shown its intention to become the world's first truly digital city.

Climate change has been a concern throughout China since the country's industrial modernisation. 

But, now that it has the world's most important greenhouse gas emitter, it is feeling the heat. 

In a declaration on climate change signed by top government leaders on Tuesday, the country's leaders pledged to "slow down" the pace of greenhouse gas emissions from burning fossil fuels, and to build phase out nuclear power by the end of the year....

China is using Shanghai as a base to build a massive new digital campus that will eventually house 12,000 workers, in recognition of the city’s status as a global tech hub. 

 But, until then, the city is hoping to attract tech startups while luring away professionals from the West.

China’s Shanghai International Academy of Social Sciences (SIAS) has issued a policy paper on the digital economy, which looks at the role of new technologies in “Shanghai Dreams”.



Phishing Up 173%, Says Web3 Security Firm

Spam and phishing attacks have been on the rise over the last couple of years, but a new data from Web3, a cybersecurity firm specializing in blockchain, shows that the attacks are becoming more powerful and sophisticated than ever. 

Specifically, the firm found that the number of spam email attacks targeting blockchain users has grown 173% over the last quarter. 

The company, which provides security and compliance services for blockchain companies and investors, says that the increased spam has come at the expense of more traditional, internet-based attacks, such as the now-familiar phishing email. 

Most of the spam emails targeting blockchain users have come from fake cryptocurrency exchanges and wallet providers, according to the company.

The growth of web3 has brought with it a new breed of phishing attack, one that exploits the platform’s ability to connect users with decentralized dApps. 

A recent report from Web3 Security showed that the number of phishing attacks targeting users in decentralized applications nearly tripled in the first half of 2019, compared to the same period last year. 

The report also found that 173% more phishing attempts were detected in the first half of 2019 compared to the same period in 2018.

Web3 Security, a firm that specializes in web security, released a report this week that found that phishing attacks have grown by 173% over the last year. 

This type of attack takes advantage of a user’s trust in a company or person to trick them into providing sensitive information. 

Phishing is typically carried out through emails or websites that appear to be from a reputable source but are instead designed to steal information or install malicious software on a user’s computer or device. 

Much of the increase in phishing attacks has been in the United States, where web-based phishing attacks are up 225% over the last year, the firm says.

The number of phishing attempts targeting users’ Ethereum wallets has increased 173% in the past month according to a new report from Web3 Security, a San Francisco-based blockchain firm. 

The firm, which focuses on security and compliance for Ethereum-based companies and projects, released its quarterly report Thursday. 

The number of phishing attempts targeting users’ Ethereum wallets has increased 173% in the past month according to a new report from Web3 Security, a San Francisco-based blockchain firm. 

The firm, which focuses on security and compliance for Ethereum-based companies and projects, released its quarterly report Thursday.

Web3 Security, a security firm that focuses on digital assets, has found that phishing scams have increased 173% over the past three months. 

The company’s research data shows that today, 42% of all phishing attempts come from fake apps, while 27% of all attempts come from fake websites. 

This data comes from a month-long Web3 study of over 40 million phishing prevention emails that were sent in the past three months. 'part': "Body



Crypto Startups Raise Funds in the $100 Millions Lately

Rising valuations across the crypto sector have fueled a torrent of fundraising through initial coin offerings, or ICOs, in recent months, with some companies raising hundreds of millions of dollars in just a few hours. Finalist companies in each of the top three classes of CoinStars’ recent ICO, which took place between mid-May and mid-July, sold out their own coin offerings, had follow-on sales and managed to raise millions of dollars from investors.

Startups are getting increasingly serious as they seek to raise money from sophisticated investors. The focus of these investors is often on investments in ‘seed’ rounds, which take place earlier than a typical ‘Series A’ round and are used to test the viability of a company and often to raise additional venture funding later. Most seed rounds are priced at just under $1 million and are typically conducted with less than $1 million in funding.

Asian tech companies, such as China's Baidu and Internet giant Tencent, have started promoting blockchain’s potential to revolutionize online finance, supply chains, and logistics, as well as offer solutions for government agencies that are either understaffed or underresourced.

“We are looking for investors who share our vision and desire to build a community,” said Ricky Sandman, an employee who manages crypto-focused investments at Acorn Capital, a San Francisco-based hedge fund that invests in the crypto space. “We fund companies that have strong fundamentals and balance sheet, and we invest across a wide spectrum of companies.”

In all the excitement, some new firms have missed out on building their brand or raising their capital, and so they’re now spending time getting that brand out.


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