Gadget360

The automotive blockchain market is poised for explosive growth, projected to reach $5.6 billion by 2030, according to Allied Market Research. This translates to a robust 29.3% compound annual growth rate over the next five years, fueled by the increasing integration of blockchain technology within the automotive ecosystem. As the underlying technology for Web3 applications like cryptocurrency and the metaverse, blockchain offers a potential replacement for traditional Web2 data management systems, promising enhanced security, transparency, and efficiency for the automotive industry. This growth suggests a significant shift towards decentralized and secure data handling in areas like supply chain management, vehicle identification, and autonomous driving development.

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On May 12th, Bitcoin experienced a slight dip, losing 0.15% and trading at $103,890 internationally. This came after US President Trump announced a “total reset” in US-China trade relations following Geneva talks. The cryptocurrency market initially reacted positively to this news.

In India, Bitcoin prices remained relatively stable around ₹86.8 lakh, showing a minor decline of less than 1%. Despite the small fluctuations, the market sentiment appears optimistic regarding the potential for improved US-China trade relations. The minor dip reflects a cautious yet hopeful approach to the evolving economic landscape.

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Meta’s interest in stablecoins for international payments faces potential US regulatory hurdles. Senator Elizabeth Warren, a key figure on the Senate Banking Committee, has voiced concerns about Big Tech’s involvement in the stablecoin market.

Warren fears that allowing large tech companies to dominate stablecoin transactions could disadvantage smaller businesses by restricting their access to payment systems. Her stance highlights the ongoing debate surrounding the regulation of stablecoins and the potential risks associated with large corporations controlling digital currencies. This regulatory scrutiny could significantly impact Meta’s plans to utilize stablecoins for cross-border payments. The future of Meta’s stablecoin ambitions hinges on navigating the evolving regulatory landscape in the US.

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Malaysia has seen a dramatic surge in illegal cryptocurrency mining, with cases increasing by 300% between 2018 and 2024. Tenaga Nasional Berhad (TNB), the nation’s primary electricity provider, reported a significant jump from 610 identified illegal mining operations in 2018 to 2,397 in 2023.

This surge highlights the increasing prevalence of unauthorized crypto mining activities within the country. Authorities are actively working to identify and dismantle these illicit operations due to their significant energy consumption and potential for electricity theft. Crypto mining is a power-intensive…

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