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Microsoft’s Edge Browser Dives Into Crypto: Is This the Future Of Browsing?

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Microsoft has made a bold move by integrating a non-custodial crypto wallet into their default Edge browser. A software documenter discovered this experimental feature and went by the pseudonym “Albacore.” The screenshots released by Albacore show that the wallet has NFT functionality and integrates Coinbase and Moonpay.

In detail, the screenshots depict a user interface that includes a cryptocurrency wallet, a decentralized application explorer, a news feed, and the ability to purchase cryptocurrency via Coinbase and MoonPay. However, the feature is currently hidden and not accessible to users. 

Albacore warns that Microsoft tests many features that never make it to production but confirms that the Edge wallet functions correctly. Albacore believes that a rollout of the feature is possible, given that he was able to use it without any issues.

Edge Browser’s Crypto Integration Sparks Mixed Reactions

Many users have expressed mixed feelings about this integration. Some have criticized it, claiming that crypto is a tool for fraud and has no place in a browser, let alone one shipped with the OS. Others have defended the integration, saying everything should be in the browser nowadays.

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Some users have expressed concern about Edge becoming too cluttered with features, while others have lamented the bloat that has been added to the once-clean browser. Some have even expressed a desire for a variation of Edge that does not have all the “freaking nonsense.”

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Despite these criticisms, some users have suggested that this integration makes sense as a first-party extension if Microsoft wants to invest in crypto. However, they also noted that it is not necessary as an integrated part of a general-purpose browser, as most users will never care about crypto.

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Interestingly, some users have pointed out that Microsoft no longer seems interested in extensions, preferring to implement features directly into the browser instead. They have started integrating their existing extensions into the browser rather than making new ones.

It remains to be seen how the broader community will receive this integration. Will it attract crypto enthusiasts and drive the adoption of Edge, or will it turn off users looking for a more streamlined browsing experience? 

Related Reading | Cardano Goes Full P2P With The Launch Of Node 1.35.6

Microsoft joins $450M funding of crypto start-up ConsenSys

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Tech giant Microsoft Corp co-led a $450 million funding of New York-based start-up ConsenSys. The financial round was backed by ParaFi Capital, Temasek Holdings, and SoftBank Group Corp which doubled ConsenSys’s valuation to $7 billion.

ConsenSys was founded in 2014 by Joseph Lubin, a co-founder of Ethereum, the world’s second-biggest cryptocurrency. The firm’s most popular products include the MetaMask digital asset wallet and Infura, a suite of tools that helps developers build Ethereum apps.

The recent capital injections highlight the firm’s positive outlook by investors who see the former as one of the companies that will power Web3. It has also managed to secure funds into areas such as decentralized finance, or DeFi, and nonfungible tokens, NFTs.

Besides that, ConsenSys said all the proceeds from its latest round would be converted into the ether. The funds will be utilized for recruiting additional 600 employees, an updated version of MetaMask that would be launched later this year, and expanding its NFT business.

That said, Microsoft’s involvement underscores the growing interest from the world’s largest tech firms in Web3. Last year, its venture fund M12 led a $27 million early-stage funding round in Palm NFT Studio, a start-up also co-founded by Lubin.

Microsoft ‘s Rendezvous With Crypto And Metaverse

The software firm began its first step by working towards integrating blockchain and cryptocurrencies in its business structure. The company last month announced a new job opening for a “Director of Business Development – Cryptocurrencies” on its career website. The role is integrated into its AI and Emerging Technologies business development team, which is the company’s spearhead division for emerging new technologies. 

Next, Microsoft’s acquisition of $68.7 billion gaming giant Activision Blizzard made it clear that the tech firm’s ambition was not limited to video game domination. In fact, gaming is the crucial vehicle to help power Microsoft’s metaverse plans.

In a press release published in January, the firm wrote that buying the “Call of Duty” and “Warcraft” maker “will provide building blocks for the metaverse.” Later Microsoft CEO Satya Nadella reportedly said that gaming “will play a key role in the development of metaverse platforms.”

Microsoft dives into Metaverse and DeFi with Teams and Xbox updates

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The United States tech giant Microsoft is diving into the Metaverse through fresh updates to Microsoft Teams and its Xbox gaming console services. It has also planned to launch a new product named “Dynamics 365 Connected Spaces.” Metaverse technology is responsible for fusing cryptocurrencies, blockchain technology, non-fungible tokens, and blockchain gaming.

On November 2, during the famous Microsoft Ignite conference, Satya Nadella, the Chief Executive Officer (CEO) of the company, announced his plans for Teams and Spaces.

Nadella also tweeted about the company’s strategic plans with a brief video attached to it. In the video he said:

“The Metaverse enables us to embed computing into the real world and to embed the real world into computing. Bringing real presence to any digital space. What’s most important is that we are able to bring our humanity with us, and choose how we want to experience this world.”

Teams will roll out the initial set of updates in 2022 to offer users their personalized virtual avatars and 3-D immersive spaces. The company has made the system in such a way that the Metaverse can be accessed from any device with zero special equipment requirements.

Several organizations will also have the option to create custom spaces to conduct contexts like professional meetings and “social mixers.”

Connected spaces by Microsoft

Microsoft’s new product, Dynamics 365 Connected Spaces, is ready for its first preview in December. It will blend the Metaverse with artificial intelligence to help businesses increase their experience and efficiency.

Connected Space’s General Manager Vishal Sood posted a blog recently where he mentioned that the product is helpful to analyze observational data from cameras from the factory floor, which is called a “hybrid work environment.”

Nadella, during an interview with Bloomberg, said that Xbox is definitely working on the integration of Metaverse into its gaming services. He, however, didn’t comment on any concrete strategy for the gaming sector.

Microsoft has added itself to the list of major companies that are planning on Metaverse. Previously, Nike has also revealed its application for trademarks of its iconic logo along with the slogan saying” online virtual worlds.” Additionally, the footwear giant has posted two job listings for digital material designers.

Binance Announces Stock Tokens For Microstrategy, Apple, Microsoft

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Cryptocurrency exchange, Binance announced support for three stock tokens of industry behemoths – Microstrategy [MSTR], Apple [AAPL], and Microsoft [MSFT] today.

The stock token for business intelligence company, Microstrategy [MSTR/BUSD] will be listed on the 26th of April while that of American multinational tech firms Apple [AAPL/BUSD] and Microsoft [MSFT/BUSD] will be made available on the 28th and 30th of April respectively.

The stock tokens on Binance’s platform are shares of public companies that trade on traditional stock exchanges. The Malta-based cryptocurrency exchange had previously detailed that each Stock Token represents one ordinary share of the relevant stock which is completely backed by a depository portfolio of underlying securities maintained by its partner CM-Equity AG, Germany who are tasked with monitoring all trading activity for compliance.

Binance competitors such as FTX as well as Bittrex Global also offers trading in stock tokens through CM-Equity.

The Founder and CEO of the platform, Changpeng ‘CZ’ Zhao had recently asserted that the latest move was the indication of seamless democratization of value transfer by reducing friction and costs to accessibility, without bargaining on factors such as compliance or security.

The latest development comes around two weeks after Binance announced venturing into the space of tokenized stock trading with the listing of Tesla stock tokens, which allowed the exchange’s users to buy Tesla tokens representing its shares.

Binance’s Stock Token Raises Red Flag

Binance had come under the scrutiny of the European watchdogs including the UK’s Financial Conduct Authority [FCA] for its stock token offering that was launched earlier this month. According to reports, the regulators were now probing whether it adhered to security rules before rolling out.

The UK’s Financial Conduct Authority was quoted saying to the Financial Times that it was working with Binance to examine the product, “the regulations that may apply to it and how it is marketed”. It also went on to add that,

“..firms and their senior management teams are responsible for determining whether their products and services fall within the remit of the FCA.”