Blockchain
Japanese Society Uses Blockchain To Guard Dog Breeds
The Akita Inu, a majestic breed hailing from Japan’s northern prefecture of Akita, has gained international acclaim in recent years. To combat rising concerns about pedigree forgery and lost documents, the Akita Inu Preservation Society is embracing the digital age. They’ve partnered with a tech firm to develop a secure system using blockchain technology, the same system that underpins cryptocurrencies.
Akita Goes Global: Digital Pedigrees Meet International Demand
The Akita Inu Preservation Society has witnessed a surge in overseas membership, with numbers jumping from 300 in 2022 to nearly 500 in 2023. This international interest presents a challenge – ensuring the secure and efficient delivery of pedigree certificates.
Traditionally issued on paper, these documents were prone to getting lost in transit, especially for overseas recipients. The society even encountered a case of forged paperwork in China a few years ago, highlighting the need for a more robust system.
Photo by Mario Cannata on Unsplash
Blockchain Unleashed: Secure Pedigrees For The Modern Dog Owner
Enter blockchain technology. Partnering with Meta Akita Inc., a local IT firm, and Heirloom Inc., a US company, the dog preservation society has developed a revolutionary system for issuing digital pedigree certificates.
Blockchain, known for its secure and transparent nature, creates a digital ledger that tracks every transaction – in this case, the ownership history of an Akita. This eliminates the risk of forgery, as any attempt to tamper with the data would be immediately recognizable.
Bitcoin is currently trading at $63.730. Chart: TradingView
The benefits extend beyond security. Digital certificates are issued via a smartphone app, drastically reducing the waiting time for owners compared to traditional paper documents that could take weeks to arrive.
“In addition to the convenience of digitalization, we hope that owners will also have peace of mind in knowing that their dog is purebred,” society board member Yuki Shoji said.
Looking Ahead: A Tail-Wagging Example For Other Breeds
The society’s foray into blockchain technology sets a precedent for other dog breed organizations worldwide. As globalization continues to connect dog lovers across borders, secure and efficient pedigree management becomes increasingly crucial.
This innovative approach not only safeguards the integrity of Akita bloodlines but also streamlines the process for international owners. With a wag and a woof, the Akita Inu Preservation Society is proving that sometimes, the best way to protect tradition is to embrace the future.
Featured image from Pexels, chart from TradingView
Blockchain
Shibarium Breaks The Internet (Again) With Over 400 Million Layer-2 Transactions
Shibarium, the Layer-2 blockchain developed by the creative minds behind Shiba Inu (SHIB), has shattered expectations by reaching an extraordinary milestone in transaction throughput. Surpassing an impressive 411 million transactions, Shibariumscan has revealed the platform’s resilience in the face of market volatility.
The recent surge in user adoption and the influx of dApp builders have contributed to Shibarium’s exponential growth. Over the past few days alone, more than 3 million transfers have been added, solidifying Shibarium’s position as a force to be reckoned with in the blockchain space.
This achievement is particularly impressive given the current daily transaction throughput of 1.03 million, which, although lower than its peak of 4.2 million transfers per day on February 20, reflects the platform’s stability and potential for further expansion.
Source: Shibariumscan
Shibarium Forges Strategic Partnership, Expanding Its Ecosystem
In a move to fortify its ecosystem and foster innovation, Shibarium has recently formed a strategic partnership with K9 Finance, a prominent player in the financial technology industry.
This collaboration marks a significant milestone for both parties, as K9 Finance launches its native coin, KNINE, on the Shibarium platform. As a testament to their commitment, Shytoshi Kusama, the visionary leader behind SHIB, and Kaal Dhairya, the brilliant SHIB lead developer, have been appointed as official advisors to K9 Finance.
I remembered when $SHIB was on the news first time. This is really amazing. The work of @K9finance is amazing. The community and the team. Proud to be part of the advisors. LFG #K9Unit https://t.co/i1FJXs5qY0 pic.twitter.com/QLCob54Owy
— Xanders Shib🇻🇪 (@ShibaXanders) March 15, 2024
The partnership between Shibarium and K9 Finance showcases the platform’s dedication to fostering collaborations that drive growth and fuel its mission to revolutionize the blockchain landscape. This strategic alliance will undoubtedly open doors to new possibilities, leading to enhanced user experiences and the creation of innovative decentralized applications.
SHIB Navigates Challenging Waters Amidst Market Turbulence
While Shibarium celebrates its record-breaking achievements, the price of Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, has experienced a turbulent ride in recent days.
Exhibiting a correlation with the price movements of Bitcoin (BTC), SHIB has encountered a 28% decrease in value following Bitcoin’s correction from its all-time high of $73,750.
Total crypto market cap. Chart: TradingView
Investors may find these price fluctuations discouraging, but it is crucial to consider the broader context of SHIB’s ongoing development efforts. Notably, SHIB received recognition and was featured on Forbes’ prestigious top 10 list of cryptocurrencies to invest in.
SHIB price action in the last 30 days. Source: Coingecko
Additionally, the cryptocurrency garnered attention on the popular financial program “Eye on Your Money,” where it was mentioned alongside Bitcoin. While these accolades did not result in immediate price surges, they reinforce SHIB’s potential and the significance of its long-term growth prospects.
Featured image from Pixabay, chart from TradingView
Blockchain
China’s Leading Blockchain Advocate Faces Investigation
Yao Qian, a prominent ‘pro-blockchain official’ in China, is under investigation by Chinese authorities for undisclosed “violations of law.”
The Background Of Blockchain Advocacy And The Current Crackdown
Qian, known for his pivotal role in developing China’s Central Bank Digital Currency (CBDC), has been a leading voice in the country’s blockchain initiative.
Qian’s efforts were instrumental in the conceptualization and rollout of the digital yuan, positioning China at the forefront of digital currency technology on a global stage.
The investigation, led by the Discipline Inspection and Supervision Team of the Central Commission for Discipline Inspection and the National Supervision Commission at the China Securities Regulatory Commission, has stirred concerns within the blockchain community.
Yao Qian’s contributions to the Chinese financial technology landscape have been noteworthy, serving in various high-profile government roles, including Director of the Science and Technology Supervision Department and the Information Center of the China Securities Regulatory Commission.
Yao Qian has also been a ‘staunch’ advocate for blockchain and digital currencies, arguing for issuing a state-owned digital currency as early as 2017 to enhance the market position of China’s local currency.
Wu Blockchain said, “He was the creator of China’s CBDC and served as the director of the central bank’s digital currency research institute.” However, Qian is now scrutinized by the same government, which is pushing for technological advancements.
The specifics of the allegations against Qian remain “vague,” with authorities citing “serious violations of discipline and law” without providing further details. The report particularly noted:
Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.
Broader Implications For Blockchain And Crypto In China
Despite the ongoing investigation into one of its key proponents, the blockchain sector in China continues to see interest and development, particularly in areas not directly related to cryptocurrencies.
For instance, at a recent annual gathering of China’s political and industry leaders in Beijing, proposals were made to accelerate the development of blockchain technology to enhance government services, supply chains, and trade.
These developments indicate that while the country may be skeptical about cryptocurrencies, it recognizes the broader applications of blockchain technology.
Furthermore, China’s financial giants, like Harvest Fund and Southern Fund, are venturing into the international cryptocurrency space with applications to launch a new spot Bitcoin ETF through their Hong Kong subsidiaries.
This move is indicative of a nuanced approach to blockchain and digital assets, suggesting a potential softening of stance or at least an acknowledgment of the financial opportunities these technologies present on a global scale.
Featured image from Unsplash, Chart from TradingView
Blockchain
20 New Brands And National Network In The Works
Vietnam has taken a significant step towards advancing its blockchain ecosystem by releasing its National Blockchain Strategy.
The strategy, announced by the Ministry of Information and Communications (MIC) on October 23, outlines a roadmap for the country’s development of a decentralized network and aims to position Vietnam as a “regional leader” in the sector.
The strategy aligns with the goals of the Fourth Industrial Revolution, a global initiative to integrate major technologies into economies.
Legal Frameworks And Digital Asset Recognition
As disclosed in the report published earlier today, the strategy by Vietnam lays out five core focus areas overseen by government agencies, including the MIC and the Vietnam Blockchain Association.
These areas include “perfecting the legal environment, building infrastructure, promoting innovation, and advancing international cooperation.”
One of the standout objectives is the creation of a comprehensive decentralized network industrial ecosystem, which will be supported by national initiatives to build decentralized network platforms, products, and services.
According to the report, Vietnam’s government aims to establish 20 key blockchain brands and at least three blockchain testing centers across major cities to enhance decentralized network research, development, and application.
Another crucial aspect of Vietnam’s Strategy is its focus on establishing a legal framework that recognizes digital assets.
As blockchain technology becomes more integral to finance, supply chains, and logistics, regulatory clarity is necessary to ensure the smooth development of decentralized network applications.
The strategy emphasizes the importance of legal recognition of digital assets to address issues such as money laundering, terrorist financing, and the financing of weapons proliferation.
In addition to the legal framework, the strategy highlights the importance of fostering innovation and international cooperation in the industry.
Vietnam plans to collaborate with other countries to advance decentralized network research and development, creating opportunities for cross-border cooperation in the sector.
Building a National Blockchain Network
Another key element of the strategy is establishing a national blockchain network. Vietnam aims to create at least three testing centers in major cities to facilitate decentralized network development and application.
These centers will serve as research, innovation, and security hubs, providing the infrastructure necessary to drive blockchain adoption in various industries.
The testing centers will also play a critical role in ensuring the security and reliability of blockchain applications, promoting confidence in the technology among businesses and consumers alike.
Featured image created with DALL-E, Chart from TradingView
-
Altcoin4 months ago
2.52 Million Altcoins Are Ruining Crypto’s Future
-
NFT3 months ago
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
-
Ethereum1 month ago
Crypto exchange BingX hacked for $43 million
-
Ethereum1 month ago
Are The Big Players Losing Interest?
-
Bitcoin1 month ago
Coinbase cbBTC Set to go Live on Solana
-
Blockchain6 months ago
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
-
NFT4 months ago
BLUR Is Down 30%, And Whales Are To Blame–Here’s Why
-
NFT4 months ago
New And Upcoming NFT Projects