Tag: Blockchain

Bhutan Turns to Bitcoin Mining for Economic Self-Reliance

Bhutan, a small kingdom in south asia, is using bitcoin mining as a part of its strategy to obtain economic self-reliance. Bhutan famous for hydropower, has been secretly building a mining infrastucture using its renewable energy. This project has placed Bhutan on the global stage alongside El Salvador as one of the few countries officially mining bitcoin.

Hydro Power Meets Bitcoin

Hydroelectric power projects have provided Bhutan with vast energy resources, this excess energy initially used to support neighbouring country India, is now being used to mine Bitcoin. This move highlights Bhutan’s intention to secure nation’s future in digital economy.

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Significant Bitcoin Holdings

Bhutan is the fourth largest government holder of Bitcoin globally with over 13,000 BTC. Bhutan has surpassed El Salvador with an appropriate holding of 0.122 BTC per citizen. Meanwhile, Bhutan’s reserve amounts to nearly $8,000 per citizen. This tactical investment has given Bhutan a Financial support as it continous to grow its Crypto mining capabilities.

A Future Bitcoin Standard?

Experts have speculated that Bhutan could adopt a blockchain standard. This would mean pegging Bhutan’s Currency Ngultrum, to Bitcoin. This would offer a stable decentralized alternative to national currencies.

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Bhutan’s Global Economic Role

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By expanding its Bitcoin mining Infrastucture, Bhutan has put itself on a favourable position for future decentralized finances (DeFi). As the world shifts away from fiat currencies, bhutan’s Bitcoin Reserves could serve as a blueprint for other nations. This could enhance Bhutan’s economic sector despite it’s small size and population.

Blockchain Democracy App Released by Georgia Opposition Party Prior to Elections

In brief The United National Movement has introduced United Space, a blockchain-based application intended to encourage civic engagement and voter turnout by providing incentives for participation, ahead of Georgia’s parliamentary elections. The app, which is powered by Rarimo, presents a liquid democracy paradigm and allows anonymous voting.

Blockchain Voting with United Space

In a move to address low voter turnout, Georgia’s United National Movement, an opposition party, has launched United Space, a blockchain-powered identity app. United Space leverages the Rarimo zero-knowledge protocol to reward citizens for participating in democratic processes and enable anonymous voting. The party plans to better link United Space with the country’s Public Service Hall in order to investigate experiments with Universal Basic Income and other digital governance alternatives if elected.

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Voting Security and Anonymity

Rarimo’s Freedom Tool, a zero-knowledge proof technique for confirming citizenship, is the foundation upon which the app is based. Voters can take part in the democratic process with unparalleled privacy by uploading their encrypted identification documents onto a safe, on-chain registry. Given Georgia’s political unrest stemming from authoritarian worries, this degree of anonymity is essential.

Civic Involvement and Benefits

Through a points system, United Space promotes greater civic engagement in addition to voting. By participating, citizens can accrue points and become stakeholders in strategic assets and public services. While Kitty Horlick of Rarilabs highlights the app’s function in transforming citizens into direct stakeholders in public resources, Giorgi Vashadze, MP and head of the United National Movement, views United Space as a tool to strengthen democracy in Georgia and beyond.

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D3 Global Unveils .APE Domain Names for ApeCoin Community

Summary

D3 Global has released .APE domain names providing ApeCoin holders to create a new web3 identity through newly created ApeChain. This initiative is part of an effort to make an interoperable name service for for the Apecoin ecosystem.

.APE Domains Go Live on ApeChain

D3 Global, which is a worldly known company for their specialization in web3 domain has officially launched .APE domain names for ApeCoin community which started as a memecoin. This initiative was announced on October 22, these domains will allow ApeCoin users to create their own tokenized web3 identities with the help of ApeChain layer-2 network.

Proposal Backed by ApeCoin Community

The launch follows a community-approved proposal that is in symmetry with the Internet Corporation for Assigned Names and Numbers (ICANN)‘s rollout of new generic top level domains (TLD)s. This effort is part of a larger initiative to enhance the utility and branding of ApeCoin users.

Multiple Uses for Tokenized .APE Names

ApeCoin holders can use these tokenized .APE names for several purposes, including email addresses, wallet addresses, decentralized identifiers, and as usernames across web3 platforms. This brings added functionality and personalization to ApeCoin’s growing ecosystem.

Building the Future of Web3

Gerard Hernandez of the APE Foundation expressed his excitement about the partnership with D3 Global stating:

“There is an imminent need for a comprehensive, all-in-one name solution that not only facilitates the growth of the APE brand and community, but also ensures futureproof utility for users.”

The domains will be available first to ApeCoin holders, with public availability set to follow soon.

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