DAY LONG NEWS ROUNDUP: LATEST NEWS 02/11/21

• Avinandan Banerjee
• November 02, 2021

We offer you the top headlines which are affecting the blockchain and crypto space on 02/11/21 so you can stay informed on the latest updates.

Top banks in the US offering huge incentives to attract crypto experts

Reports are pointing out that in the last three years, some of the top banks in the United States along with other financial institutions have filled in over a 1000 positions with individuals who are experts on DeFi and cryptocurrencies.

According to a report published on the 1st of November by Bloomberg, significant bonuses are being offered by the top financial institutions in order to attract people with expertise in the crypto space. According to Johnson Associates, one of the top human resource consultants, crypto positions in companies pay 20 to 30 percent higher salaries than positions that even though are comparable but still not related digital assets.

Managing Director of the firm, Alan Johnson reportedly mentioned that most of the banks will not take the risk of losing clients who might go to other banks to get these services. Hence, it is imperative that they scale up as well. Reports suggest that many senior crypto positions are gaining almost a 50 percent hike in their salaries when compared to non-crypto jobs of similar stature.

The Bank of America on the other hand has invested in forming an entirely dedicated team of crypto researchers. Alkesh Shah, who is a member of that division, mentioned that the crypto industry has become way too big for anyone to ignore at this point.

Patreon is willing to explore the crypto space

During the 2021 Creator Economy Summit hosted by The Information Panel, the executives of the globally popular company Patreon, who develops tools that can be used for subscription models by the content creators around the world, teased once again that the company is more than willing to dip their toes in the world of crypto and digital assets.

Jack Conte, the CEO of Patreon along with Julian Gutman, the chief product officer, stated that they are absolutely fascinated by the concept that the creators will be able to own the rights to their own content. He further stated that he loves the idea of shifting the power from the institutions and organizations to the people who are creative and develop their own content in creative pursuit.

Conte stated that even though Patreon does not have employees that work full time on cryptocurrencies but now with the global impact of crypto, they are planning to hire one. Their idea is to create a sustainable future for the creators who trust Patreon and are exploring the crypto space on broader terms.

Even last month the company had announced that they were looking for active feedback in relation to launching a social token on behalf of the company.

City of Liverpool interested in blockchain powered food delivery platform

Steve Rotheram, the Metro Mayor of the city of Liverpool announced an investment plan of 700,000 pounds in the food delivery service known as Peepl. The announcement came on Monday as the amount which is equivalent to $955,957 will be invested to aim of developing a cost effective alternative to the large food delivery companies for local restaurants operating in the city. 

The Peepl company is driven by the Fuse Blockchain which literally offers faster transaction speeds and lower fees. This initiative will mark the first application of the open source money toolkit developed by Fuse with the intention of benefiting the local community members. 

Peepl has claimed that through their advanced technology and well connected partnerships, they can save the restaurants even upto 50 percent of the commissions that they have to pay to the food delivery companies. On the contrary, Peepl has declared that they would give 5 to 10 percent commissions back to the consumers on every single order value in the form of PPL tokens, People’s own version of crypto tokens.

The official website of Peepl has announced that the company has proposed to fix the value of the Peepl tokens (PPL) by the year 2025. Apart from conducting transactions, the token holders will have the chance to contribute to the network’s governance.