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NEAR: The Underrated Blockchain Team
Mert Mumtaz, the founder of Helius, has recently highlighted the NEAR crypto project as one of the most underrated teams in the blockchain sector. This statement comes in the context of the introduction of the crypto wallet and consumer app Near.com, which aims to simplify the use of blockchain technology while making strides in areas such as privacy, AI, and trading. Despite these strengths, NEAR's market valuation remains below expectations, indicating a disconnect between its technical capabilities and market perception.
"The market is increasingly focused on real usage, fees, and user experience," Mumtaz noted, emphasizing the need for adoption and compelling use cases to overcome market inertia.
Summary: NEAR is viewed as undervalued despite its technical strengths and new product launches, with the challenge of overcoming market inertia remaining critical.
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Barclays Explores Blockchain Platform for Payments
The British bank Barclays is considering the development of its own blockchain platform for payment processing and deposits. According to a report from Bloomberg, Barclays is in discussions with potential technology providers to create an infrastructure that could support stablecoins and tokenized deposits. This initiative is a response to the growing pressure from stablecoins, which promise faster and cheaper transactions.
Barclays plans to select potential partners in April to advance the development of this platform. This move is part of a broader trend, as other banks like JPMorgan and HSBC are also testing similar solutions, indicating a steep growth rate in the adoption of blockchain technology.
Summary: Barclays is planning to develop a blockchain platform to keep pace with competition in payment processing, focusing on the integration of stablecoins and tokenized deposits.
Editorial Assessment
Mert Mumtaz's assessment of NEAR as one of the most underrated teams in the blockchain sector highlights the discrepancy between technical excellence and market value. This suggests that the market may not yet be ready to recognize the full potential of innovative technologies, presenting both risks and opportunities for investors. The challenge of driving adoption and creating compelling use cases remains crucial for NEAR's future development and could serve as an indicator for the overall market trend in the crypto sector.
Barclays' initiative to develop its own blockchain platform demonstrates that traditional financial institutions are increasingly recognizing the benefits of blockchain technology. This could lead to greater acceptance and integration of cryptocurrencies into the mainstream. The focus on stablecoins and tokenized deposits is particularly relevant, as they could enhance efficiency and cost-effectiveness in payment transactions. Barclays' move could not only strengthen its own competitiveness but also have a significant impact on the entire industry.
Summary: NEAR is seen as undervalued, while Barclays' blockchain initiative reinforces the trend of integrating cryptocurrencies into traditional financial systems.
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