BITCOIN

A former central banker has explained that three conditions must be met for the Chinese yuan to become a currency on par with the U.S. dollar and the euro. Noting that the yuan is already the third-largest international currency after the USD and the euro, he emphasized that the Chinese currency’s market share and influence are growing. Chinese Yuan vs. U.S. Dollar, Euro Chinese economist Chen Yulu explained at an event Saturday how the yuan could become a global currency on par with the U.S. dollar and the euro, the South China Morning Post reported. The event marked the launch of a report by Renmin University on how China can boost the yuan’s international role. Chen, who was vice governor of the People’s Bank of China (PBOC) from October 2015 to August 2022, is now president of Nankai University. He previously served as president of Renmin University. The former central banker noted that the Chinese yuan has already become the third-largest international currency after the U.S.

The BRICS economic bloc has invited 69 leaders to its upcoming summit, including all African heads of state and the political heads of major Global South bodies. More than 40 countries have expressed interest to join the BRICS group, with 22 nations already having submitted official applications. “We’ve never had such a large outreach,” said South Africa’s diplomat in charge of BRICS relations. 69 Leaders Invited to BRICS Summit The upcoming BRICS summit is expected to be the largest yet, with 69 invitations already sent out, City Press reported. South Africa is hosting this year’s summit, which is scheduled to take place in Johannesburg from Aug. 22 to 24. The BRICS economic bloc comprises Brazil, Russia, China, India, and South Africa. The South African diplomat in charge of BRICS relations, Anil Sooklal, has revealed that all 54 African heads of state and the leaders of major Global South bodies have been invited to the summit. However, Western countries including the U.S., U.K.

Worldcoin, the decentralized biometric ID protocol, has officially launched, allowing users to reserve their share of WLD, the incentives-driven token of the protocol, that will be granted when confirming one’s identity using a biometric device called the “Orb.” In addition, Worldcoin also informed that it will be accelerating the rollout of these devices to more than 35 cities. Sam Altman Backed Worldcoin Launches Officially Worldcoin, the decentralized ID and wallet protocol backed by Sam Altman, CEO of Openai, announced its official launch on Monday. The project, which had been in its development stages for more than three years, is finally opening its services to the public, expanding its reach and aiming to reel in 2 billion users worldwide. Worldcoin has two different components: World ID, a decentralized identity protocol that uses individuals’ irises as a “proof of personhood” verification, using specialized devices called “Orbs” for this task, and World App, which allows