China's blockchain satellite in space, Hong Kong's McNuggets Metaverse: Asia Express
The maiden voyage of Chinese blockchain Sputnik
A Chinese satellite has become the first in the world to put a blockchain imaging and screening system into orbit.
According to local media Red Star News on July 22, the Tai'an Star Era 16 was successfully launched into orbit from Jiuquan Satellite Launch Center in China. Developed by NationStar Aerospace Technology Co., the satellite has a visual blockchain in-orbit certificate storage system called “ADAChain” (not related to Cardano) developed in-house by NationStar. The researchers wrote:
"[ADAChain] can realize functions such as in-orbit visual blockchain multi-signature authentication, in-orbit video visual streaming, and in-orbit visual remote sensing data storage certificate confirmation."
The purpose of the satellite's journey is "to obtain rich spectral information on the surface of the target area", in the fields of "precision agriculture, water resources management, mineral resources investigation, environmental monitoring and emergency safety". Blockchain technology will also help achieve the goals of “high spatial resolution, high spectral resolution, and high temporal resolution” in such satellite imagery.
The Bank of China's subsidiary in Hong Kong has authorized individuals in the Special Administrative Region (SAR) to use the central bank's digital currency in digital yuan (e-CNY CBDC) for their retail purchases.
According to a July 20 report, more than 200 merchants, such as malls, pharmacies, convenience stores, and electronics stores, are using CBDC e-CNY as a payment method for buyers from mainland China. The CBDC e-CNY is currently not available for Hong Kong users.
As the SAR, Hong Kong maintains political, economic and social institutions distinct from mainland China. Proponents are calling on the Hong Kong government to issue its own CBDC in Hong Kong dollars to compete with Tether (USDT) and USD Coin (USDC). Similarly, Chinese President Xi Jinping has CBDCs as a way to settle international trade in local currencies.
Terraform Labs struggles to get back on its feet"Every time we made a little progress, there was an accusation or something that derailed us," Chris Amani, interim CEO of Terraform Labs, in a Twitter space on July 20.
According to Amani, former CEO Do Kwon in Montenegro has essentially broken all the momentum the struggling network is trying to restore. In May 2022, the $40 billion Terra Luna (LUC) ecosystem collapsed due to the implosion of its algorithmic stablecoin TerraUSD (USTC). Soon after, Kwon created the Terra 2.0 (LUNA) ecosystem. The three tokens have a combined market capitalization of $1.3 billion at press time.
In its next phase, Amani says nine projects built on the combined Terra Luna ecosystem are expected to launch in the coming months. None of the projects will issue their own tokens. Additionally, Amani projects face stiff competition from other tier one projects due to the lack of a Luna Foundation guard or protocol treasury for financial support.
Read also
A Chinese satellite has become the first in the world to put a blockchain imaging and screening system into orbit.
According to local media Red Star News on July 22, the Tai'an Star Era 16 was successfully launched into orbit from Jiuquan Satellite Launch Center in China. Developed by NationStar Aerospace Technology Co., the satellite has a visual blockchain in-orbit certificate storage system called “ADAChain” (not related to Cardano) developed in-house by NationStar. The researchers wrote:
"[ADAChain] can realize functions such as in-orbit visual blockchain multi-signature authentication, in-orbit video visual streaming, and in-orbit visual remote sensing data storage certificate confirmation."
The purpose of the satellite's journey is "to obtain rich spectral information on the surface of the target area", in the fields of "precision agriculture, water resources management, mineral resources investigation, environmental monitoring and emergency safety". Blockchain technology will also help achieve the goals of “high spatial resolution, high spectral resolution, and high temporal resolution” in such satellite imagery.
The Bank of China's subsidiary in Hong Kong has authorized individuals in the Special Administrative Region (SAR) to use the central bank's digital currency in digital yuan (e-CNY CBDC) for their retail purchases.
According to a July 20 report, more than 200 merchants, such as malls, pharmacies, convenience stores, and electronics stores, are using CBDC e-CNY as a payment method for buyers from mainland China. The CBDC e-CNY is currently not available for Hong Kong users.
As the SAR, Hong Kong maintains political, economic and social institutions distinct from mainland China. Proponents are calling on the Hong Kong government to issue its own CBDC in Hong Kong dollars to compete with Tether (USDT) and USD Coin (USDC). Similarly, Chinese President Xi Jinping has CBDCs as a way to settle international trade in local currencies.
Terraform Labs struggles to get back on its feet"Every time we made a little progress, there was an accusation or something that derailed us," Chris Amani, interim CEO of Terraform Labs, in a Twitter space on July 20.
According to Amani, former CEO Do Kwon in Montenegro has essentially broken all the momentum the struggling network is trying to restore. In May 2022, the $40 billion Terra Luna (LUC) ecosystem collapsed due to the implosion of its algorithmic stablecoin TerraUSD (USTC). Soon after, Kwon created the Terra 2.0 (LUNA) ecosystem. The three tokens have a combined market capitalization of $1.3 billion at press time.
In its next phase, Amani says nine projects built on the combined Terra Luna ecosystem are expected to launch in the coming months. None of the projects will issue their own tokens. Additionally, Amani projects face stiff competition from other tier one projects due to the lack of a Luna Foundation guard or protocol treasury for financial support.
Read also
What's Your Reaction?
![Three of ID's top PR executives quit ad firm Powerhouse [EXCLUSIVE]](https://variety.com/wp-content/uploads/2023/02/ID-PR-Logo.jpg?#){kind=logo}
