Exclusive Interview With Agoric Director of Developer Relations

In the rapidly evolving world of blockchain and decentralized applications, Agoric stands out as a beacon for developers looking to transition from Web2 to Web3. But what exactly is Agoric, and why is it making waves in the developer community? In this exclusive interview with Diego Lizarazo, Director of Developer Relations at Agoric, we delve deep into the heart of Agoric, its newly launched components library, and the vast opportunities that await Web2 developers in the Web3 realm.


What is Agoric?

Agoric is a layer 1 Proof-of-Stake (PoS) public blockchain and smart contract platform that delivers a safer, more familiar platform for accelerated development and deployment of decentralized applications. Agoric empowers over 14 million JavaScript developers to pioneer Web3.


Agoric component’s library recently launched. What is it and what is the library’s primary purpose?

We have created the components library to meet the Web3 developer community’s ongoing need for rich, reusable, open-source components to help speed up application development. The purpose of this library is to create a one-stop shop that holds everything a developer needs to begin assembling code across the interchain, including an introduction to Web3 programming, in-depth guides and tutorials. Developers with previous JavaScript knowledge will find learning Agoric’s Hardened JavaScript framework straightforward. Within the library, developers can access useful resources such as a lending protocol, an LP stop loss contract, smart contracts for interacting cross-chain, NFT drop and auction mechanisms, and an on-chain governance committee.


Why is there such a discrepancy between the Web2 developer community and the Web3 developer community?

There is a stark difference. According to the Electric Capital’s Developer Report, there were 21,000 monthly active crypto developers in 2022, compared to the outstanding 14 million monthly active JavaScript developers working in Web2. Another major issue facing the industry is interoperability, or the capacity of various blockchain networks to communicate. Currently, the interchain consists of approximately 60 zones actively connected by the Inter-Blockchain Communication protocol (IBC), and all have their users, applications, and economies. However, for Cosmos to become the internet of blockchains, applications built on the interchain must cooperate. Building an application that takes action across multiple blockchains requires highly programmable smart contracts that handle asynchronous execution. Agoric has designed the components library to equip developers with plug-and-play resources that will allow them to start building and encourage more developers to enter the Web3 space.


Why should Web2 developers consider joining Web3? What opportunities exist here?

The realm of Web3 is exciting for traditional Web2 developers to explore without the constraints and saturation of the sheer numbers of developers already operating in Web2. An emerging space with lots of potential for career growth, developers can work across a number of new innovative spaces including decentralized finance, interoperability and cross-chain interaction, and smart contracts. 

Agoric is well-positioned to provide Web2 developers with an ideal starting point for their Web3 journey as the library provides developers with plug-and-play resources to begin building and participating in new opportunities right away. However, onboarding Web2 developers requires speaking to them in a language that they can understand – initiating dialogue is crucial in achieving this. The components library aims to invest time and resources in this Web2 developer audience so that they can join the Web3 community and begin transferring their skills and building. This ongoing support is crucial in the onboarding process as developers are navigating a new and complex space. 


Where can developers learn more about this? 

Agoric is committed to supporting developers interested in learning more about Web3. We have set up regular developer office hours (Wednesdays at 9 am PT / 16h UTC) and offer hands-on technical support through our Discord channel. In addition to this, Agoric is working with Chainboard Academy to run boot camps, which incorporate a mentoring focus and peer-to-peer learning to offer developers the ability to build, test, and deploy their dApps on the Agoric chain. If you are interested in learning more, you can join the community of developers building apps for the interchain on our components library homepage

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Crypto Innovations and IBM’s Role in the Evolving Payments Landscape

As the world of finance undergoes rapid digital transformation, the introduction of novel payment methods, including cryptocurrency and the much-anticipated Central Bank Digital Currencies (CBDC), is reshaping the industry. Prakash Pattni, in his recent analysis, highlights the challenges and opportunities this presents, especially for traditional banking institutions.

The rise of disruptive digital entrants has intensified competition in the payments ecosystem. With an array of choices now available to customers, from cryptocurrencies to CBDCs, traditional banks are grappling to retain their market share. The introduction of CBDCs, hailed as a significant step towards the digitization of national currencies, further underscores the urgency for banks to modernize their payment systems.

Regulatory bodies, recognizing the potential risks associated with the rapid integration of non-traditional players like fintechs and neobanks, are enhancing their oversight. Financial institutions, in response, are expected to adapt swiftly to these evolving compliance standards, ensuring the safety, efficiency, and resilience of their payment infrastructures.

Amidst these challenges, the need for seamless customer experiences remains paramount. Pattni emphasizes the importance of understanding the entire payment process, from the initial point of sale to the final transaction. With the majority of initial customer interactions now occurring through digital channels, the IT architecture supporting these transactions must be robust, secure, and efficient.

Enter IBM. The tech giant is offering solutions tailored for this new era. Their “Check Payments on IBM Cloud for Financial Services” is a testament to this commitment. Operating in a secure cloud environment, this service ensures compliance with financial regulations, addressing the needs of banks in an age where, despite the decline in daily check transactions, the overall value of processed checks remains significant.

IBM’s collaborative approach, working with over 130 tech partners and fintechs through the IBM Financial Services Cloud Council, further solidifies its position as a leader in this transformation.

In conclusion, as the payments landscape continues to evolve, driven by innovations like cryptocurrencies and the introduction of CBDCs, the onus is on both traditional and non-traditional financial institutions to stay ahead of the curve. Leveraging partnerships with tech giants like IBM, and ensuring a continuous commitment to digital transformation, will be key to navigating this new frontier.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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UK’s 2023 Economic Outlook Report: Inflation Surges, Growth Adjusted Downward

The latest report on the UK’s economic forecast for 2023 reveals several pivotal shifts in the nation’s financial landscape. Here’s what you need to know:

GDP Growth

The UK’s projected GDP growth for 2023 has been adjusted downwards to 2.8%, a dip from the previously estimated 3.1%. This modification is influenced by factors such as global supply chain disruptions and the surge in energy prices.

Inflation on the Rise

Inflationary concerns are mounting as the rate is predicted to average 3.5% in 2023, exceeding the Bank of England’s 2% target. The report pinpoints “rising wages and commodity prices” as the main contributors.

Labour Market Health

Signs of recovery in the job market are evident, with the unemployment rate forecasted to decline to 4.2% by the close of 2023.

Housing Sector

A 5.3% average increase in house prices is anticipated for 2023, marking a slowdown from the 7.1% ascent observed in 2022.

Trade Dynamics

The UK’s trade deficit is set to expand to £28 billion in 2023, up from £24 billion the prior year. Reduced exports to EU nations and augmented imports from non-EU countries are highlighted as underlying reasons.

Bank of England’s Strategy

In light of the inflationary pressures, the Bank of England could elevate interest rates to 1.5% by mid-2023.

Brexit’s Continued Influence

The protracted impacts of Brexit remain evident in the UK’s economy. Sectors such as “agriculture and fisheries” are grappling with challenges, particularly in accessing European markets.

Global Economic Context

On the international front, the global economy’s growth is pegged at 3.6% for 2023. The report, however, flags potential risks like “geopolitical tensions” and pandemic-related disruptions.

Government Finances

While public debt as a proportion of GDP is poised to decline to 84% in 2023, the absolute value of this debt is on an upward trajectory. This implies escalating borrowing costs for the government.

Business Investment Focus

Businesses in the UK are gearing up for a 4.7% growth in investments come 2023. Key areas of interest include “technological advancements” and “green initiatives.”

As the UK navigates the complexities of a post-pandemic and post-Brexit world, these forecasts provide a roadmap of challenges and opportunities ahead. Analysts and policymakers alike will be closely watching the interplay of domestic and international factors that shape the UK’s economic trajectory. While the adjustments to GDP growth and the surge in inflation are key focal points, the resilience of the UK’s labor market and the strategic shifts in business investments underscore the nation’s adaptability. The unfolding months will be crucial in determining how these predictions align with real-world outcomes, and whether the proactive measures suggested, such as the Bank of England’s potential rate hike, will be implemented to stabilize and bolster the UK economy.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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WisdomTree to Liquidate Five ETFs by October 20, 2023

WisdomTree, Inc. (NYSE: WT), a prominent global financial entity, has declared its intention to close and liquidate five of its ETFs. The ETFs in question will cease accepting creation orders after October 20, 2023, marking the same day as their final trading day on their respective exchanges.

Shareholders who retain their ETF shares beyond this date will undergo an automatic cash redemption based on the ETF’s net asset value (NAV). This redemption is anticipated to be relayed to shareholders via their brokers or other financial intermediaries around October 30, 2023, subsequent to the last operational day slated for October 27, 2023.

The ETFs slated for closure and liquidation are:

  1. WisdomTree Chinese Yuan Strategy Fund** (CYB) – NYSE Arca
  2. WisdomTree India ex-State-Owned Enterprises Fund** (IXSE) – NYSE Arca
  3. WisdomTree U.S. Growth & Momentum Fund** (WGRO) – NASDAQ
  4. WisdomTree Germany Hedged Equity Fund** (DXGE) – NASDAQ
  5. WisdomTree Growth Leaders Fund** (PLAT) – NYSE Arca

Prospective investors are urged to meticulously evaluate the investment goals, risks, charges, and expenses of the Funds prior to investing. A comprehensive prospectus detailing this information can be accessed at WisdomTree.com/investments or by calling 866.909.9473.

It’s imperative to note that investing carries inherent risks, including potential principal loss. Foreign investments, in particular, are fraught with currency, political, and economic risks. Single-country, sector-focused funds or those emphasizing smaller company investments may witness heightened price volatility. The prospectus provides an exhaustive risk profile for each Fund.

WisdomTree’s offerings encompass a diverse range of exchange-traded products (ETPs), models, and blockchain-enabled solutions. With a current global assets under management tallying approximately $95.8 billion, the firm is at the forefront of financial innovation. Their recent endeavors include blockchain-native digital wallets like WisdomTree Prime™ and blockchain-enabled mutual funds.

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OKX Joins Forces with Solana Mobile

Crypto exchange OKX has entered into a partnership with Solana Mobile. This alliance will see the OKX app becoming a part of the dApp store on the Solana Saga smartphone. With this integration, the OKX app is among the early exchange applications available on the device, offering users access to OKX’s Web3 solutions.

The Solana Saga smartphone is recognized for its potential in enhancing mobile access to Web3. Such partnerships are anticipated to redefine the way decentralized applications and services are accessed and utilized by users globally.

Jason Lau, Chief Innovation Officer at OKX, shared his views on the collaboration, emphasizing the expansive possibilities of Web3. He mentioned that by combining OKX’s range of products with the Solana Saga smartphone, they aim to broaden the everyday accessibility to the decentralized Web3 ecosystem.

OKX, known in the tech space for its contributions to the Web3 domain, has a variety of offerings:

  1. The OKX Wallet, which supports over 50 blockchains and features MPC technology for enhanced security.
  2. DEX, an aggregated decentralized exchange platform.
  3. An NFT Marketplace that lists NFTs from multiple marketplaces.
  4. A Web3 DeFi platform that caters to various protocols.

The company’s collaborations span various sectors, including associations with entities like Manchester City F.C. and McLaren Formula 1. Recently, OKX initiated a campaign titled “The System Needs a Rewrite,” highlighting the potential shift towards Web3 technologies.

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NGMI (Not Gonna Make It): A Comprehensive Overview


“NGMI” is an acronym that stands for “Not Gonna Make It.” Predominantly used within the cryptocurrency and blockchain communities, it refers to individuals, projects, or decisions perceived as unlikely to succeed, often due to hasty or uninformed choices. Beyond the crypto realm, it’s an internet slang term that expresses a sense of hopelessness, reflecting feelings of frustration or disappointment.


The exact origins of “NGMI” are not definitively traced to a single source. However, its widespread use in the cryptocurrency community has made it a staple term, especially on platforms like Twitter, Discord, and other social media channels where crypto enthusiasts congregate.

A prime example of its use can be seen in a tweet by @Dehkunle (Dehkunle Of Africa 🐐), who humorously expressed his dismay with the phrase: “Rugged by Elon Musk and Vitalik on the same day – ngmi 😂.” This tweet encapsulates the unpredictable nature of the crypto world, where influential figures can sway market sentiments in an instant, and the community uses terms like “NGMI” to humorously cope with such rapid shifts.


Source: Twitter

Usage in the Crypto Community

In the dynamic world of cryptocurrency, “NGMI” serves multiple purposes:

Warning Label: The term acts as a cautionary label, warning against poor investment decisions. For instance, it might be used to describe someone who has made uninformed investment choices.

Market Downturns: The term gains traction during market downturns, signaling projects or ventures that the community believes won’t recover or achieve success.

Mockery: It’s also employed, sometimes humorously, to mock individuals who express skepticism about crypto, metaverse, blockchain and web3 concepts.

Humorous Doubt: “NGMI” can be used in a humorous or self-deprecating manner. For instance, it might be commented on Twitter posts as a lighthearted way to express doubt and poke fun at the hype surrounding a particular project, such as a meme coin with a funny name or an NFT project with an absurd idea.

Contrasting Term – WAGMI

“WAGMI,” standing for “We’re All Gonna Make It,” serves as the optimistic counterpart to “NGMI.” While “NGMI” points to potential failures, “WAGMI” is an expression of hope and camaraderie within the crypto community, emphasizing collective success and support.


While “NGMI” can be seen as a negative term, its presence in crypto discussions can be beneficial. By identifying potential pitfalls in the market, traders and investors can redirect their focus towards more promising ventures. However, as with all slang and jargon, it’s crucial to approach the term with a discerning mind, understanding its context before making investment decisions.

In the Broader Context

Outside the crypto world, “NGMI” serves as a humorous counter to the more optimistic “To the moon!” phrase. While the latter expresses excitement and optimism about potential growth, “NGMI” humorously conveys the opposite, often reflecting skepticism or doubt about a particular venture’s success.


“NGMI” has carved its niche in the lexicon of cryptocurrency enthusiasts and internet users at large. Serving as both a warning and a reflection of market sentiments, it captures the volatile nature of investments and the ever-changing dynamics of the digital world. As the crypto landscape continues to evolve, terms like “NGMI” will remain integral in shaping discussions, guiding both seasoned traders and newcomers in navigating the intricate world of digital assets and online trends.

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