In this article, we have curated a list of top five interesting crypto stories from this week that will make you stay in sync with the crypto ecosystem.
Maharashtra, the biggest Indian state in terms of GDP, has partnered with blockchain based application LegitDoc to issue caste certificates using the Polygon blockchain to residents of Gadchiroli district. The state government is in the process of rolling out 65,000 caste certificates to aid the process of delivering government schemes and benefits. As a part of the initiative, the LegitDoc platform retrieves data from the MahaOnline portal (run by govt) and mints the data on the Polygon blockchain. The system then generates a QR code and certificates, which can be verifiable by various government departments.
Indian Administrative Service (IAS) officer Shubham Gupta revealed that the caste certificate issuance aims to target 1.1 million residents of the Gadchiroli district, with over 70% representing the tribal population. The Maharashtra government has earlier implemented an Ethereum-based credentialing system to provide tamper-proof diploma certificates to avoid forgery.
Metamask is a popular crypto wallet used to interact with the Ethereum Blockchain. Used by 21 million people worldwide on a monthly basis, Metamask has grown by 38x since 2020 and is available for free as a smartphone app or web browser extension. They have now released a new feature this week for iPhone and Apple pay users. In addition to the main feature of allowing users to purchase Ethereum (ETH) using debit or credit card through mobile, Metamask allows the usage of their Visas and Mastercards stored in Apple Pay to buy ETH and deposit a daily maximum of $400 into their wallets. The latest update also allows users to make bank transfers and use credit/debit cards to buy crypto using over 60 global currencies.
Business intelligence firm Microstrategy, which is known for its strong bullish stance on Bitcoin, has once again surprised the market participants by taking out a loan to buy Bitcoin. MicroStrategy has taken a $205 million loan from Silvergate which is secured by certain Bitcoin it holds as collateral. MicroStrategy will be using the proceeds of the loan to purchase Bitcoin, pay fees and interest related to the loan and handle general corporate expenses.
Paris St Germain and Argentina forward Lionel Messi has partnered with a digital fan token company Socios.com in a $20 million deal. Socios released a statement that Messi, whose move from Barcelona in August included a crypto payment, will be involved in a publicity and promotion campaign for Socios in the build-up to the Qatar World Cup, which is due in November. The deal for Messi does not include crypto payments and is a three-year agreement.
Fan tokens are a type of crypto assets that allow holders to vote on mostly minor decisions related to their clubs.
Dubai has continued to introduce new and favorable laws regarding crypto assets and as a result, has seen the adoption of virtual assets increase in recent times. A Dubai school named Citizens which is scheduled to open later in 2022 has become the first in the Middle East to adopt crypto. It plans to accept crypto payments and then convert them to fiat, specifically UAE Dirhams.
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Disclaimer:This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.