The cryptocurrency market remains range bound with a slight bullish bias as Bitcoin (BTC) is trying to break above $20,000. While preparing this report, Bitcoin was trading at $19,787, up 4.60% in the past 24 hours. Ethereum (ETH) has gained 4.60% to trade at $1,367. XRP was trading at $0.4757, a decline of 3.60% in the last 24 hours.
The major crypto, which has lost ground in the last 24 hours, is Dogecoin (DOGE – $0.06216, 0.5%), Polygon (MATIC – $0.7700, 3.40%), Solana (SOL, $34.90, 6.80%), Avalanche (Avax- $17.93, 3.10%), Binance Coin (BNB – $281.47, 2.20%), Internet Computer (ICP, $6.32, 6.40%), EOS (EOS – $1.21, 2.5%), Bitcoin Cash (BCH, $119.22, 4%), VeChain (VET, $0.02344, 3.90%), Tezos (XTZ, $1.51, 3.6%), IOTA (IOTA – $0.3092, 3.60%), Cardano (ADA, $0.4574, 1.70%), Shiba Inu (SHIB, $0.000011331526, 1.40%), Polkadot (DOT, $6.69, 5.70%) and ChainLink (LINK – $8.08, 8.08%).
The only major altcoin which lost ground in the past 24 hours is Stellar (XLM, $0.1158, -2%).
Government level initiatives
Banque de France is one of eight to join the Hyperledger consortium
Banque de France (central bank of France) and the Central Bank of Nigeria are among the eight institutions to join the Hyperledger consortium. With the study and trials of central bank digital currency (CBDC) gaining momentum, multiple central banks are capitalizing on Hyperledger open source technologies as a portion of their research program and also for commercial solutions.
For instance, the Central Bank of Nigeria utilizes Hyperledger Fabric, while Hyperledger Iroha is employed by many Asian institutions, including Project Bakong, which is the central bank payment solution in Cambodia. Notably, the consortium has also launched Hyperledger Global Forum, with the intention to conduct several live stream sessions.
Other institutions which have joined the Hyperledger consortium are Digital Identity Laboratory of Canada and the International Association for Trusted Blockchain Applications (INATBA), CasperLabs, BCW Group, Realto Group, and DWR Corporation.
Private sector initiatives
Starbucks Odyssey to be included in the Starbucks Rewards program
Starbucks Odyssey, the iconic coffee brand’s latest non-fungible token (NFT) offering, will be included in the Starbucks Rewards program. Users will be able to finish ‘journeys,’ including games to get collectible stamps as NFTs. Furthermore, clients can buy limited edition NFTs, which can be traded in its marketplace. No crypto or wallet is necessary, and enrollment on the waitlist has started.
Each of those NFTs carries points, which can be utilized for unlocking benefits. This spans from espresso martini-making tutorials to a trip to a Costa Rica coffee farm.
NFTs will contain artwork made in collaboration with Starbucks associates and other artisans. To keep the initiative eco-friendly, the Proof of Stake (PoS) Polygon blockchain is used. Nevertheless, in the weeks ahead, corporations should be able to create tokens on Ethereum, which has transitioned to PoS from PoW, sans sustainability worries, though Ethereum will stay costly in terms of transaction charges. Notably, three years back, Starbucks started utilizing blockchain for tracking coffee.
GAIA-X initiates a new venter named GAIA-X 4 move ID
Bosch-headed 300-member (EU) association GAIA-X has initiated a new venture named GAIA-X 4 moveID. It intends to utilize decentralized vehicle identities for data transfer, including the process of locating charging spots, billing, and autonomous driving. The venture is backed by a 19-member association consisting of Airbus, Continental, and seven blockchain or web3 startups, Chainstep, peaq, Datarella, 51nodes, Ocean Protocol / BigChainDB, Fetch.ai, and deltaDAO.
Notably, funding for 50% of the project’s value, which is €28 million ($28m), is provided by the German government. The project intends to establish standards and bring out new technological ideas so that safe exchange of data can be carried out while using mobile apps.
Autonomous cars are required to share data with their network, specifically for traffic regulation. This includes Zoning, which will undergo testing in the Germany-France-Luxembourg area. Other frameworks will encompass charging spots, parking lots, and traffic lights. As per Bosch, connected parking is a €10 billion ($10bn) international business opportunity.
Bosch had earlier worked with 51nodes as a portion of German digital identity cooperative IDUnion. And Fetch.ai has started a Bosch partner for smart IoT gadgets. Along with Siemens, in 2019, Bosch conducted a Smart E-Mobility Challenge.
Circularise initiates a joint blockchain trail
Sustainability-focused blockchain firm Circularise has initiated a joint blockchain trial with certification scheme ISCC and ten more companies. The venture intends to utilize the blockchain to strengthen the sustainability certification process and improve the reliability and transparency of sustainability claims audits.
Netherlands-headquartered Circularise, along with its existing partner Marubeni, managed to bring ten firms for the aforesaid initiative. They are Asahi Kasei, Borealis, Neste, Trinseo, and Shell, appliance brands Arcelik, Philips Domestic Appliances, and EVBox, and also trading companies Marubeni and Itochu.
Recording the ISCC sustainability certificates on a public blockchain establishes an unalterable record of the sustainability claims linked with materials, paving the way for tracking of materials as they transit through the distribution chain.
Mesbah Sabur, Circularise’s Founder, said, “storing balances, recording transactions, and applying mass balance regulations using blockchain and smart contracts. Each transaction is completely auditable. Hence, auditors may depend on the blockchain for portions of the audit.”
With regards to the creation of a digital twin of the raw materials, Circularise stated that it utilizes a combo of QR codes, NFC, RFIDs, chemical tracers, and DNA to monitor the plastic.
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