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  • Orion Protocol adds even deeper utility to ORN by launching USDo stablecoin

    Orion Protocol adds even deeper utility to ORN by launching USDo stablecoin

    Victoria, Seychelles, 28th June, 2021,

    Orion Protocol is the liquidity aggregator building the decentralized gateway to the digital asset market. Today, Orion announces even further utility will be added to its native ORN token by introducing USDo, Orion’s dollar-pegged stablecoin. Minted by staking ORN, USDo will become the primary base pair across Orion Terminal, Orion’s flagship solution providing decentralized access to centralized and decentralized liquidity in one place.

    Orion Protocol recently launched its native ‘pre-staking’ solution on Orion Terminal via Orion Pool. Less than a week since launch, an impressive 11 million ORN has been locked (~$60 million dollars): 38% of its circulating supply. On top of lucrative staking rewards up to ~100% APR (depending on whether holders opt for single-asset staking (ORN only) or provide multi-asset liquidity for pools paired with BNB, BUSD, USDT, and ETH), Orion is adding even further utility to its native ORN token.

    Orion is introducing USDo: Orion’s US Dollar pegged stablecoin. As per traditional stablecoins, USDo can be used for trading and additional transactions within Orion Terminal. When users stake ORN or ORN LP tokens on Orion Terminal, they will be able to mint USDo – collateralized using the staked ORN. USDo will become a primary base token of trading pairs on the Orion Terminal.

    Minting USDo is conducted at a (to be defined) ratio on the staked collateral: for every $X USD worth of ORN the user stakes (the collateral), they are able to mint $1 USD worth of USDo (equivalent to 1 USDo). Similar to traditional stablecoin models, the collateral put up for USDo will be monitored by Orion Oracle to monitor value for the newly minted tokens. 

    Rather than only impacting collateralized ORN if it drops in value, Orion will reward holders of USDo if their staked collateralized ORN rises in value: holders have the ability to ‘rebase’ their position depending on price movement. When this rebase happens, the user will have the option to mint additional stablecoin based on the same X-1 ratio. The strike price for liquidation is now raised if the user increases their stablecoin exposure. 

    Alternatively, in the event that ORN’s price decreases and the value of the collateralized ORN drops below the strike price, the holder also has the option to increase their exposure by staking additional ORN in order to prevent liquidation. If not, the staked ORN is liquidated in order to protect the value of the USDo.

    USDo will become the primary base pair on Orion Terminal and will be entirely fueled by ORN. Orion’s stablecoin will be integral to the project, allowing ORN holders to maximize their capital efficiency within the Orion ecosystem. This further the adoption of ORN to mint USDo, driving an increase in TVL on Orion Terminal.

    About Orion Protocol

    Built on the most advanced liquidity aggregator ever developed, Orion Protocol will aggregate the liquidity of every single crypto exchange into one decentralized platform: providing a decentralized gateway to the entire digital asset market. In doing so, they’re building a protocol on which to bridge the worlds of crypto, traditional finance, and real-world assets.

    Contacts

    Chief Marketing Officer

    • Timothea Horwell
    • Orion Protocol
    • timothea@orionprotocol.io
  • Polygon to launch Avail – a robust general-purpose scalable data availability layer

    Polygon to launch Avail – a robust general-purpose scalable data availability layer

    Singapore, Singapore, 28th June, 2021,

    Polygon has introduced Avail – a general-purpose, scalable data availability-focused blockchain targeted for standalone chains, sidechains, and Layer-2 solutions.

    Avail being a robust general-purpose scalable data availability layer will act as an important component to completely change the game on how future blockchains will work.

    Avail uses mathematical primitives of erasure coding and polynomial commitments to create a two-dimensional data availability scheme that avoids data encoding fraud proofs and provides a high guarantee of data availability. 

    “Avail is a key component of a new paradigm in which blockchains will work in the future. We believe off-chain scaling solutions and standalone chains will require a robust scalable data availability solution and we are excited to be working on this problem”.  Anurag Arjun, Co-Founder at Polygon

    Avail will enable:

    1. Standalone chains with arbitrary execution environments to bootstrap validator security without needing to create and manage their own validator set by guaranteeing transaction data availability
    2. Layer-2 solutions such as Validiums to offer increased scalability throughput by using Avail as an off-chain data availability layer

    Avail proposes to be a secure data hosting & ordering layer that execution layers can use. Polygon envisions the multiple off-chain scaling solutions or legacy execution layers to form the execution layer. Polygon is also working on the tooling required to make this possible using Avail and will share more on this in the coming future.

    About Polygon

    Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc., and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 400+ Dapps, ~250M txns, and ~1.4M+ unique users.

    If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp. Get started here.

    Website | Twitter | Reddit | Discord | Telegram 

    Contacts

    Marketing and Developer Relations

    • Arun Philips
    • Polygon
    • arun.philips@matic.network
  • 20 Year Fintech Veteran Reveals P2P Lending and Remittance Platform Bithashex with Fundraising Campaign through ProBit Global IEO

    20 Year Fintech Veteran Reveals P2P Lending and Remittance Platform Bithashex with Fundraising Campaign through ProBit Global IEO

    BithashEx OÜ has officially opened its early stage token fundraising through its IEO on ProBit Global.

    Boasting 20 years of experience in global fiscal remittance and monetary exchange

    Estonian fintech company Bithashex has solidified its regulatory and foundational roots following the acquisition of multiple licenses for its upcoming crypto exchange.

    To lower the barriers for loan approval facing the roughly 1.7B unbanked in 2017, decentralized exchange BithashEx aims to bypass legacy fiat gateways by removing centralized pool funding and incorporating smart contracts to seal transparent and binding agreements.

    Potential lenders and borrowers can directly list their specific requirements on a makeshift P2P lending marketplace while the transparent service helps mitigate risks on behalf of lenders and borrowers. By enabling cryptocurrency to be used as collateral, prospective borrowers can gain expedited access to funding while lenders can accumulate interest for facilitating the loan.

    The DEX will feature a customized order mapping algorithm while stable liquidity sourced from multiple exchanges and order mapping will stabilize the trading ecosystem. Traders can also unlock trading fee discounts depending on the USD value of their holdings with the lowest trading fees of 0.06% for members with a minimum value of 50,000 worth of tokens on the exchange.

    The Bithashex matrix secures the platform through an automated algorithm that provides universally accessible and convenient ID login capabilities. Through the Global Identity (GID) feature, users benefit from a one-stop, convenient login function to lower the potential for any data breach or unauthorized access.

    BHAX utility tokens are set at a maximum supply of 5B and are the core crypto for trading on the exchange, provide P2P payment usage, and enable users to benefit from lower fees across the platform services.

    ABOUT PROBIT GLOBAL

    ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 600+ altcoins in 1000+ markets.

    ABOUT BITHASHEX

    BithashEx OÜ is a radical product that aims to change the game of Global Crypto Remittance Services.

    PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS

    100,000+ community members
    800,000+ monthly active users
    3,000,000 monthly web visitors
    50,000,000 users on partnering aggregators and wallets such as CoinMarketCap
    User interface of Multilingual website supporting 41 different languages
    Marketing and community support in 8 key languages

    Join our active programs and get huge benefits!

    1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee
    2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit
    3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens
    4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns

    ProBit Global: www.probit.com
    ProBit Telegram: https://t.me/ProbitEnglish

  • Olyseum launches the world’s first experiential NFT platform to strengthen celebrity-fan engagement

    Olyseum launches the world’s first experiential NFT platform to strengthen celebrity-fan engagement

    Geneva, Switzerland, 28th June, 2021,

    Olyseum, a blockchain-powered social ecosystem that rewards fan engagement, is excited to announce that it has launched the world’s first star-led experiential NFT (xNFT) platform. 

    The platform aims to fundamentally change the landscape of fan engagement by taking NFTs to the next level. Olyseum enables gamified, authentic, and meaningful interactions between celebrities and fans. 

    More than 30 stars with hundreds of millions of combined social media followers had joined the platform even before its official launch, including Olyseum co-founders Carles Puyol and Andrés Iniesta as well as MotoGP star Jorge Martín, motorcycling icon Toni Bou, and 5-star Michelin chef Eneko Atxa. 

    Olyseum incentivizes the stars through advertising revenue, sponsorships, and the sale of experiential NFTs (xNFTs). Stars use the platform to engage with their fans through content creation activities, skills challenges and experiences. Each star will have their own “solar system”, where fans can enjoy exclusive experiences with them.

    Olyseum offers a wide variety of xNFTs for fans to choose from, allowing them to build their own collections, rise up the rankings, and earn exclusive experiences with their favorite celebrities.

    Additionally, Olyseum’s native utility token OLY has today been listed on the Gate.io crypto exchange — a leading global crypto exchange by volume — extending its reach to over 4 million users across 150 countries.

    Olyseum was founded by the accomplished computer scientist and neuroscientist Carlos Grenoir, who serves as its CEO, and the globally renowned cybersecurity consultant Kevin Mitnick. Other founding members are the former FC Barcelona players Carles Puyol, Andrés Iniesta and Iván de la Peña.

    Commenting on the launch, Olyseum co-founder and CEO Carlos Grenoir said: “In today’s highly charged social media landscape, fans have huge visibility over their favourite stars’ activities, but interaction levels are extremely limited and lack any real substance. While the rapidly expanding NFT space is providing fertile ground for stars to develop high-value digital representations of their content, the fan-star experiential paradigm has yet to be properly explored, until now.

    Olyseum wants to redefine the parameters of fan engagement, empower fans to have their fandom validated, broaden the accessibility of authentic star experiences, and create a venue for xNFT trading and renting. We’re also giving stars the chance to enrich existing NFTs and transform them into xNFTs on our platform. With our unrivalled network of international icons, Olyseum’s xNFT platform is in prime position to become the marketplace of choice for stars and fans alike, while providing a trusted environment for stars to debut in the crypto sphere, elevate their brand, and monetize their star power.”

    Olyseum counts among its key investors the Crèdit Andorrà Bank, BuyVIP co-founder Gerald Heydenreich, former Rothschild senior advisor Javier de Rocafort, super hacker Kevin Mitnick, INDITEX partner Jordi Ballbe, and former FC Barcelona players Carles Puyol, Andrés Iniesta and Iván de la Peña. 

    Olyseum’s leading token holders are Jehan Chu, founder of Kenetic Capital and co-founder of Social Alpha Foundation; Patrick Dai, founder of Qtum; David Garcia, founder of Borderless Capital and Ripio; and Albert Castellana, co-founder of NEM foundation.

    OLY is an ERC-20 based token. It was launched on Uniswap in February. The token has been listed on the Gate.io exchange, ProBit exchange, CoinMarketCap, CoinGecko; and has been integrated into the Oxis and Monedero wallets. 

    About Olyseum

    Olyseum is a star-led rewards platform for experiences and enriched Non-fungible Tokens (NFTs), making it more accessible and monetizable by taking non-fungible tokens to the next level. Olyseum’s expanding roster of stars are aligned on a common mission to create opportunities for meaningful, authentic interactions with fans, and rewarding fans for their support and participation in the celebrity economy. For more information, please visit: olyseum.com, olyseum.medium.com and https://olyseum.zendesk.com 

    Contacts
    • Carlos Grenoir
    • media@olyseum.com
  • Top 3 Coins to Watch – Week 26

    Top 3 Coins to Watch – Week 26

    Just when we thought the crypto markets cannot plunge lower, we got hit by the last full week of Q2 2021, which was characterized by the total market valuation low of $1.27 trillion and Bitcoin dipping below $30,000 for the first time since January 27. Without a doubt, this is the period of the bears. But even when bears are ravaging almost every crypto asset, you can still find shelter by carefully selecting the coins you invest in. Perhaps you can find some inspiration in out top 3 coins to watch for next week.

    1. Bitcoin (BTC)

    Although we believe Bitcoin does not need much introduction and that all eyes would be on it even if it were not featured on our list, here is a short summary of the history and key characteristics of the first truly decentralized digital currency. The world’s pioneer cryptocurrency was launched by pseudonymous figure named Satoshi Nakamoto in 2009 and has a capped supply of 21 million coins. The decreasing miner block rewards makes the cryptocurrency scarcer with time, ensuring a deflationary nature. Bitcoin is also often referred to as the barometer of the cryptocurrency market as other assets usually follow BTC’s price performance.

    Buy/Sell BTC

    Market sentiment is turning bearish, but some analysts still believe BTC could end the year at a valuation higher than $100,000

    As already mentioned, Bitcoin dipped below $30,000 for a bit more than an hour on June 22. While cryptocurrency markets are known to be volatile, dipping lower than a round valuation or breaking a well-known support level has a predominantly psychological effect on investors, as Bitcoin has never traded below $30,000 since January 27, meaning that this broke the almost five months long strike. 

    A quick Twitter poll conducted by user @100trillionUSD also shows how the Bitcoin market sentiment has shifted almost a full 180 degrees in less than three months.

    In this period (last 3 months) Bitcoin dropped by a whopping 43% and technical analysis shows that Bitcoin needs to convincingly go above $42k to put an end to the bearish sentiment.

    After China’s crackdown on cryptocurrencies and the country’s central bank instructing institutions not to provide trading, clearing and settlement for crypto transactions, the Chinese miners found themselves in a very tough position. While Chinese ban on crypto has contributed a lion’s share to the ongoing bearish market trend, the country’s decision has also caused the drop of Bitcoin hashrate as several huge mining operations were forced to shut down. However, miners are already moving their equipment out of the country and establishing Bitcoin mines elsewhere, which will likely cause the network hashrate to stabilize again. One publicly listed Bitcoin mining company from China has reportedly already shipped all their miners to Kazakhstan. However, according to Tone Vays, miners in certain areas with excess energy can mine Bitcoin at a cost as low as $6,000 per coin, which could negatively affect the Bitcoin price in the short-term. Nevertheless, Vays is still confident in Bitcoin’s long-term prospects as well as the speculation that it will trade at a price over $100k by year’s end.

    2. Cardano (ADA)

    Cardano is a decentralized blockchain platform focused at creating a smart contract-enabled environment, on which developers can build decentralized applications. Cardano utilizes a Proof-of-Stake consensus model and aims to provide a more sustainable, scalable, and transparent operation compared to other smart contract blockchains. The project was started by Charles Hoskinson, a mathematician, who was once part of the Ethereum developer team, in 2017. The team raised $62.2 million for project’s development through an ICO. The development of the project is now overseen by three main organizations, the IOHK, Cardano Foundation and Emurgo. Hoskinson and IOHK stive to follow the principles of academic peer review in the project’s development process. The native asset of the Cardano blockchain is called ADA, but previously this year, the project rolled-out an update, which enabled support for other Cardano-native tokens as well.

    Buy/Sell ADA

    Cardano has Allegedly Secured Another Major Deal with a Government of an African County

    Besides being one of the most actively developed cryptocurrency projects Cardano is also doing a very good job at securing deals and implementing Cardano blockchain-based solutions to address real-world problems. In April we heard that the country of Tanzania will partner with Cardano’s parent company IOG to bring mobile internet connectivity, digital identity, and financial empowerment to inhabitants of rural parts of the country. However, the Cardano developers have recently revealed that another deal with another African country, that could bring an additional 1 million users to the Cardano ecosystem, is on the table. John O’Connor, director of African operations at IOHK, recently tweeted: 

    O’Connor tried not to disclose to many details about the deal, but he still revealed that the implementation will make use of the Cardano smart contracts feature (soon to be deployed through the Alonzo upgrade) and that it is somehow related to microloans and collateralized loans. Furthermore, it will be an open finance solution, meaning that third-party developers will be able to build applications and services around the financial framework through the use of open APIs. O’Connor also touched on the topic of cryptocurrency adoption and said that the main tipping point in adoption rates will come when people will not even realize they are using a blockchain-based solution. He said:

    “A year down the line, you not even realize it, but Cardano could be the back-end financial rails for these huge businesses, and the customer won’t even know.”

    The bottom line is that if you agree with the saying “buy the rumour, sell the news”, now might be a good time to buy ADA.

    3. Theta Token (THETA)

    The Theta Token is the native asset of a decentralized video delivery network Theta. You could also call Theta a blockchain-based YouTube or Twitch. The Theta platform incentivises various network participants via the use of cryptocurrencies.

    Buy/Sell THETA

    The Theta Mainnet 3.0 Launch Scheduled for June 30

    The long-awaited Theta Mainnet 3.0 launch is now finally just behind the corner after its launch got postponed from April 21. The mainnet upgrade, which has been announced already in December last year will implement a network fee burning mechanism into the Theta protocol. Already at this moment, Theta users are utilizing TFuel to pay for the costs of using the Theta Edge network. On Mainnet 3.0, however, at least 25% of each TFuel payment will be burned at the protocol level, decreasing TFuel supply. Mainnet 3.0 will also introduce Elite Edge Node “Uptime Mining” and allow TFuel staking. You can find more information regarding the launch in this recent Theta blog post.

  • Canadian Securities Regulator OSC Sets Its Sights on Bybit and Other Exchanges

    Canadian Securities Regulator OSC Sets Its Sights on Bybit and Other Exchanges

    Trading crypto assets is easier than ever thanks to the services provided by crypto exchanges. The likes of Coinbase and Binance have become multi-billion dollar companies by giving users a way to easily buy and sell cryptocurrencies. 

    However, cryptocurrency exchanges can often operate in a grey zone, especially platforms that serve customers from all over world – it’s hard to ensure that operations are compliant for every single country the exchange is servicing. Recently, we’ve seen an example of this problem when Canadian securities regulator OSC (Ontario Securities Commission) alleged that Bybit is conducting business in Canada without securing the proper registration.

    According to the regulator, Bybit is one of the exchanges that have failed to register their trading platforms through the Ontario Securities Commission, even though they are providing services to  residents of Ontario. The regulatory agency also alleges that even though Bybit was fully aware that it was running an unregistered service, has been encouraging the country’s citizens to trade different assets that are either derivatives or securities.

    The OSC’s statement also says that Bybit did not contact the agency despite the OSC publicly stating that exchanges should get in touch with the agency to ensure that they are running their operations in a compliant manner. With the new development, Bybit has now been added as one of the companies on the investor’s warning list, and a hearing date has been set, which is to take place by July 15.

    The OSC has issued similar warnings to other cryptocurrency exchanges, including KuCoin and Poloniex. In all the cases, the Commission argues that the platforms are providing services related to securities, and must therefore follow the state’s securities laws. 

    According to the Commission, any digital asset that a user can buy and make a profit from is regarded as a security under the state’s law.

  • Bitcoin ETFs Go Live In Brazil And Dubai

    Bitcoin ETFs Go Live In Brazil And Dubai

    Over the last few months, we have witnessed some groundbreaking achievements in the crypto industry. Even though regulators in the USA still haven’t approved a Bitcoin ETF (exchange-traded fund), this type of investment vehicle is now becoming available in other countries. For example, Canada’s first Bitcoin ETF launched earlier this year, and additional options have since also become available to Canadian investors. 

    Brazil and Dubai have also taken a similar step, with Bitcoin ETFs launching in the two countries for the first time ever. 

    Before now, a Bitcoin ETF created by QR Capital was approved by regulators in the country. The ETF has gone live with the approval already granted and is listing on the B3, a Brazilian stock exchange. The Bitcoin ETF that just went live in Brazil was given the green light by the Brazilian Securities and Exchange Commission.

    The Bitcoin ETF going live in Dubai was created by 3iQ, an asset management firm in Canada that has almost $1.5 billion in assets under management. With that, it has created history as the first-ever Bitcoin ETF to make its debut in the country after regulators gave it a seal of approval around April. 

    Cryptocurrency ETFs can be very useful to investors because they provide a way to gain exposure to the performance of cryptocurrencies without having to actually hold the cryptocurrencies themselves.

    Presently, the ETFs launched in Canada have seen remarkable success after the first two that launched broke records just days after they were launched. The first Bitcoin ETF that was launched, Purpose ETF, saw massive trade volume of $165 million in a day.

    Investors are still keeping up hopes that the United States would reconsider and approve their first ETF. The United States SEC has named market manipulation concerns as one of the main reasons why it has not yet approved any Bitcoin ETF proposal.

  • SafeEarth Announces $200k+ in Charity Donations this Year

    SafeEarth Announces $200k+ in Charity Donations this Year

    SafeEarth creates access to DeFi and at the same time, helps restore the world’s ecosystem and help humanity through collaborating with the most impactful projects.

    25th June 2021, London, England Users of SafeEarth can enjoy the benefits offered by DeFi whilst preserving the delicate balance of the world. Today, the project announces it has successfully issued donations in excess of $200,000 to various user-selected charities and projects that range from cleaning the ocean to enabling access to healthcare and education for children. A staggering amount of positive feedback and goodwill has allowed this company to thrive at what it does best. Helping those who need an extra boost. Without the donations made by SafeEarth, these organizations might not have been able to continue carrying out the good work that they do. Within weeks of launch, SafeEarth has done more on this planet than most. And this is just the start. With the ways things are going, the next year is going to give a push that a lot of these charitable funds need. And you get to choose! Where else do you get to influence such an important distribution of funds and when was the last time you got a say in something like this? 

    Healing the World through Blockchain

    In a span of a few months, SafeEarth has enabled thousands of people from all over the world to help play a crucial role in helping humanity and the world. SafeEarth has been handing out donations in the form of ETH, with a contract address publicly displayed. Using the concise data recording and immutability, SafeEarth allows all donors to view their donations on the blockchain which are then sent to listed charity organizations in a transparent manner.

    People can also become a part of SafeEarth via the native deflationary SafeEarth token. Through this token, each holder is given the chance to vote on upcoming charitable incentives, and the charity with the most votes is added to the ever-increasing list. The current charitable organizations supported by Safe Earth include:

    • The Ocean Cleanup: A not for profit that aims to clean up the Great Pacific Garbage Patch and reduce the chances of more plastic waste entering the oceans by capturing them from rivers globally.
    • Amazon Watch: With one-third of the earth’s vegetation in South America, the Amazon rainforest is being devastated for its resources and make way for human expansion. Amazon Watch intends to protect the plants and animal species indigenous to the jungle.
    • Save the Children: The century-old movement protects children rights and offers the underprivileged a chance at a better life.
    • Charity Water: Bringing fresh water to people across all continents, Charity Water has installed more than 64,000 freshwater projects for communities worldwide
    • The Water Project: Clean and drinkable water is a precious and often inaccessible resource in sub-Saharan Africa. The Water Project offers financial support and training to people to build their own water supply and purification systems.

    SafeEarth – Commitment to Vision & 60 ETH Donation

    Cryptocurrencies and their impact on the climate is a hot topic these days, with Elon Musk recently dropping BTC payments for Teslas due to the environmental impact. While crypto community leaders decide on how to make their respective blockchains eco friendly, SafeEarth uses a novel solution to fund different projects that help towards the betterment of mankind. 

    Each charity has been selected carefully to reflect the mission of SafeEarth and all are working towards protecting the environment, helping the future generations who will inherit the planet and bringing fresh water and support to all. An additional donation of 60 ETH is slated for the near future to charities, so the giving doesn’t stop here.

    Thanks to all the hard work of the users they are proud to announce that their next donation of 60 ETH, a portion will go towards Sungai Watch which is dedicated to cleaning up the mangrove in Indonesia. This entails 2 ‘floaters’ to catch waste polluting the remarkable area, plus 3 dedicated days of mangrove cleanups. With this alone, there will be a significant and immediate impact to this unique natural habitat and the floaters will remain to ensure it stays that way for the foreseeable future. 

    Stay tuned for photos and videos from the cleanups and just to see the tremendous work that Sungai Watch is putting into rehabilitating this place thanks to the donations which have been made on behalf of the token holders.

    Bitmart Listing & Charity Application 

    SafeEarth holders can already swap the tokens using ETH’s UniSwap. The token has also recently gained a listing on BitMart on June 11th. With BitMart, it will be easier for the public to acquire SafeEarth and play their role protecting the earth. Token holders will also enjoy the benefits of passive income as 1% of the SafeEarth transaction fee is distributed among token holders.

    SafeEarth has also announced its intentions to become a registered charitable organization in the UK, which will allow greater alignment with their goals, and pave the path for increased adoption of SafeEarth and help charitable efforts continue well on into the future. Once registered, the assets they possess can only be used in the pursuit of more charitable purposes. By giving grants to charities with their existing channels and resources, it is a surefire way to ensure the donations get spent in the best ways possible. This is one small step for the environment and one giant leap to prove their dedication to the cause.

    Other updates stated for Q3 include staking and mining, more listings on mainstream crypto exchanges and further development to expand the SafeEarth ecosystem.

    For more information, visit the Website, or check out SafeEarth on:

    Twitter
    Instagram
    Telegram
    Reddit
    YouTube


    Contact Details
    Name: SafeEarth Team
    Email: Pr@safeearthcrypto.com

  • Authorities Orders Sichuan Bitcoin Miners To Shut Down Their Activities

    Authorities Orders Sichuan Bitcoin Miners To Shut Down Their Activities

    In the last few months, they have been growing concerns over the amount of energy expended in the mining of Bitcoin. Tesla CEO Elon Musk started this chain of events after he mentioned that he was concerned about the energy sources that are being used to mine Bitcoin. While that is by the side, the Sichuan province of China is cracking down heavily on Bitcoin mining across the region. In the report shared by PA News, the Science and Technology Bureau and the Energy Bureau of Sichuan Ya’an have ordered that mining operations need to be shut down by June 25.

    An official document that crypto journalist Colin Wu had access to mentioned that 26 mining centers across the region would have to shut down their mining stations. Power stations are being ordered to cut off the power supply to these mining operations. The report by PA News also mentioned that the authorities have also earmarked small-scale mining stations that use hydroelectricity in the region for closure. Before now, the region was one of the Bitcoin-friendly regions in the country due to the amount of cheap power that was available for mining during the May to September rainy season across the region. At this point, it is safe to point out that this latest report is different from the previous reports that have been flying around. In most of the other reports, the miners were told to shut down by September, compared to the June 25 date mentioned in this report.

    Sichuan province would be the fifth in a long list of regions that have ordered miners to shut down their services. Inner Mongolia was the first to roll out an update before Xinjian and Qinghai announced the ban on mining on June 5. Yunnan province was the last to concede and ban the activities in the region following an update on June 11.

    China still pushing for blockchain adoption on an industrial scale

    While the nationwide clampdown on Bitcoin mining activities is ongoing, the country is pulling in another direction regarding blockchain technology. The Chinese government is pushing to develop a blockchain system used in specific industries.

    In a recent document released by the government, it is now pushing for the establishment of industry-based blockchain technology, various tax incentives, and finally, intellectual protections that would help solidify it as a blockchain powerhouse. This recent view has confirmed that even though the country is now pushing to eliminate Bitcoin mining across the country, it is also boosting the adoption of blockchain technology.