Blockchain & Web3 Weekly Bytes Edition #54

📢 US Bitcoin Reserve, Decentralized Identity, & Robinhood’s $1M Crypto Trivia

March 8, 2025

Hello Blockchain Enthusiast,

Welcome to Edition #54 of Blockchain & Web3 Weekly Bytes! The US has just made its boldest move into Bitcoin yet— the President signed an executive order to establish a Strategic Bitcoin Reserve, while discussions have heated up on selling gold to fund it. Meanwhile, Japan is looking to revamp crypto taxes, and Texas is pushing forward with its state-backed Bitcoin reserve.

Tech Spotlight: Decentralized identity in Web3 social networks—why usernames and passwords may soon be relics of the past.
Weekly Highlights: Coinbase rethinks tokenized securities, Sam Altman’s World App adds crypto payments, and Robinhood’s Bitcoin trivia game draws nearly 400K players.
Affiliate Spotlight: Tax season is here—track your crypto investments seamlessly with CoinLedger.
Chart of the Week: Governments are slowly embracing Bitcoin—reserves, payments, custody, and now strategic holdings.

🧠 Weekly Trivia

Blockchain oracles fetch real-world data, enabling trustless automation beyond on-chain info. Recently, they were tested to verify:

A) The age of whiskey barrels on-chain
B) Wildlife migration for automated conservation funding
C) Fair play in an online chess tournament
D) The origin of a meteorite before auction

*Find the answer at the end of this newsletter.

🌟 Tech Spotlight – Decentralized Identity in Web3 Social

Social media today is controlled by a few platforms that dictate how users log in, interact, and even monetize their presence. Decentralized identity (DID) flips the script—giving users full control over their digital identity without relying on centralized services.

What is Decentralized Identity?

Instead of creating multiple usernames and passwords, DID allows a single verifiable identity across platforms—without handing over personal data to corporations. It’s self-owned, tamper-proof, and works across different Web3 applications.

Why It Matters

No more dependence on Big Tech logins
Ownership over digital presence and credentials
Seamless movement across decentralized platforms

Where It’s Already Happening

Lens Protocol enables social interactions on-chain, where users own their profiles
Ethereum Name Service (ENS) simplifies identity with human-readable blockchain addresses
Worldcoin is experimenting with biometric identity tied to blockchain verification

As Web3 social networks grow, identity is moving from platform-controlled to user-owned, creating a future where profiles, reputations, and credentials belong to individuals—not corporations.

📰 This Week’s Blockchain and Web3 Highlights

World App Adds Crypto Payments & Chat: Sam Altman’s World App introduces messaging and direct crypto transactions, linking over 11 million verified users.

U.S. Plans to Hold Bitcoin as a Reserve Asset: A new executive order directs an inventory of federal digital assets, confirming Bitcoin will be stored long-term as a financial safeguard.

Gold-for-Bitcoin Proposal Gains Attention: Standard Chartered suggests using part of the U.S. government’s $760B gold reserves to accumulate Bitcoin without additional taxpayer burden.

Japan Proposes Lower Crypto Taxes: Lawmakers push to cap crypto taxes at 20%, bringing it in line with stock investments and replacing the current 55% maximum rate.

Robinhood’s Bitcoin Trivia Game Draws 400K Players: A $1M Bitcoin giveaway saw only 615 winners. The next round will also feature Dogecoin rewards.

Coinbase Eyes Tokenized Securities: With changing U.S. regulations, Coinbase is considering introducing security tokens and broadening its crypto services.

Texas Moves Closer to a Bitcoin Reserve: A newly passed Senate bill positions Texas to establish its own Bitcoin reserve, fueling national discussions on digital assets.

😂 A Little Blockchain Humor Break 🤣

Source: Bitcoin Memes

📊 Chart of the Week: Bitcoin Access Expands—Governments Are Taking Notice

Countries are shifting their stance on Bitcoin, moving from restrictions to approvals. The map tells the story—while a handful of places still push back, the momentum is clear.

Key Takeaways:

🔹 47 countries now allow Bitcoin ETFs, payments, or banking services.

🔹 The US has given banks the green light to custody Bitcoin.

🔹 Bolivia, Turkey, and Nigeria have legalized Bitcoin for payments.

🔹 Venezuela and China still restrict mining, but they’re now in the

More doors are opening, and Bitcoin’s presence in global finance is growing.

Source: River

That’s a wrap for this week! Bitcoin’s place in global finance is growing, blockchain oracles are proving their use beyond crypto, and decentralized identity is changing how online trust works. Governments are taking digital assets more seriously, and new regulations are shaping up fast.

Trivia Answer: A) The age of whiskey barrels on-chain

Blockchain oracles were tested to verify the age of whiskey barrels on-chain. A new way to prove authenticity—straight from the barrel.

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Thank you,
Ajay Tomar

Disclaimer:

Content in this newsletter is for educational and informational purposes only and is not intended as financial, tax, or legal advice. Always do your research and consult with a professional before making financial decisions. As a solopreneur, I may earn commissions from affiliate links in this newsletter at no extra cost to you. This support helps me bring you valuable content. I only endorse products I trust and believe could benefit you.