After falling below $40,000, Bitcoin (BTC) makes another feeble attempt to breach the psychological barrier. While writing this article, Bitcoin was trading at $38,535, an increase of 1.10% in the last 24 hours. Ethereum (ETH) was trading at $2,539, almost unchanged in the same period. XRP has gained 1.80% to trade at $0.7258.
Major altcoins, which have gained ground in the last 24 hours, include Cosmos (ATOM, $29, 5.10%), Shiba Inu (SHIB- $0.000023199478, 0.10%), Terra (LUNA- $80.02, 2.50%), Polygon (MATIC- $1.45, 3.10%), EOS (EOS-$1.96, 2.10%), IOTA (IOTA-$0.7109, 5.20%), Stellar (XLM-$0.1725, 1.80%), VeChain (VET, $0.047, 1.20%), Avalanche (Avax- $73.42, 4%), ChainLink (LINK-$12.90, 0.80%), Uniswap (UNI, $8.54, 4.1%), Polkadot (DOT, $16.61, 2.10%), Binance Coin (BNB- $383.91, 4.9%), Cardano (ADA, $0.8084, 0.6%), Dogecoin (DOGE, $0.1191, 0.40%), Near (NEAR- $9.85, 1.6%), Bitcoin Cash (BCH, $279.89, 1.20%), Tezos (XTZ-2.99, 3.50%), Internet Computer (ICP, $16.76, 1.80%) and Solana (SOL, $83.39, 2.40%).
Private sector initiatives
Thai Union monitors shrimp farming through satellite-based monitoring
In the final quarter of 2021, Thai Union, the world’s third-largest seafood producer, began trialing the satellite-based monitoring of its shrimp farming operations. Two weeks before, the Southeast Asian firm has collaborated with satellite analytics company Sea Warden and blockchain tracking firm Wholechain to foster sustainable seafood production.
Through this technology, the company hopes to establish automated, verifiable, and cheaper Key Data Elements (KDEs) for their shrimp farms, and the info can be studied with confidence by all the partakers in the supply chain, i.e., from producers to end customers.
In the past few years, there has been an increasing emphasis on sustainability within the fishing and aquaculture sector. A study conducted four years before indicated that 72% of seafood consumers in 22 countries feel that it is necessary to consume seafood only from sustainable sources. This has encouraged companies such as Thai Union to undertake aforesaid initiatives.
The technology offered by Wholechain and Sea Warden intends to establish sustainable and traceable platforms that enable the consumer to make informed purchasing decisions while producers can track the effect of their products on the environment. The satellite info gathered by Sea Warden creates KDEs, and the incorporation of Wholechain permits the insights from these KDEs to be retained on the blockchain allowing data to be passed across Thai Union’s supply chains.
LACNet is launched to run the LACChain blockchain
To administer and run the LACChain blockchain focused on the Caribbean and Latin American region, a non-profit organization named LACNet was rolled out. Its objectives are comparable to the rest of the regional blockchain networks, including Alastria in Spain, the European Commission’s European Blockchain Services Infrastructure (EBSI), and China’s Blockchain-powered Service Network (BSN). The LACNet offers a cost-effective, negligible risk method for institutions to partake in blockchain networks.
LACChain is a public permissioned blockchain system facilitating any user to engage with the network. Nevertheless, for using or being a part of the network by operating nodes should subscribe, sign an agreement and go through the verification process. The network was set up by Inter-American Development Bank (IDB) Lab and is already being used for various projects. But, currently, the independent non-profit LACNet is taking care of the network. The institution which established LACNet is LACNIC. Notably, the region’s internet number system is managed by LACNIC and RedCLARA, which links the region’s academic frameworks.
Energy Web partners with Vodafone and Mastercard
Energy Web has joined hands with Vodafone and Mastercard for developing a unique ‘Economy of Things’ solution that will enable authorized gadgets linked with Vodafone’s Digital Asset Broker (DAB) to interact straightaway with charging nodes and also other vehicles, IoT gadgets, and machines.
Notably, the service is undergoing trial involving a linked EV (electric vehicle) interacting automatically and safely with a charging point located at Vodafone’s tech center in Newbury (UK) and ensures a 100% renewable energy-based charging supply for EVs.
The platform can be linked with any charging framework that supports Mastercard payments and any EV across the globe, including street-based chargers linked to the grid. The Green Charging platform also facilitates the fractionalization of RECs. Therefore, anybody can receive proof that energy bought for charging is from renewable sources. Energy Web delivers proof of using renewable sources of energy for charging to users’ mobile.
Miscellaneous
JPX acquires a stake in DAMS
The Japan Exchange Group (JPX) has acquired a 23.70% stake in startup firm Digital Asset Markets (DAMS) by investing ¥360 million. Digital Asset Exchange received its license a year back. The firm currently acts as the exclusive vendor for Zipangcoin, a digital asset pegged to gold. The coin was minted and issued by Mitsui & Co Digital Commodities, which began its operations a month ago.
Intertrade, which offers trading systems for JPX’s Tokyo Stock Exchange, is the founder and the biggest stakeholder in DAMS. Other prominent investors include Mitsui & Co.
The founders of Intertrade had earlier stated that “Regardless of the advantages and disadvantages of digital currencies, INTERTRADE trusts that blockchain technology will transform the manner in which the world operates, similar to the effect of internet, and that a major shift is nearing in which a constant flow of innovative services powered by blockchain technology will be initiated.”
Therefore it chose to lead the trend by establishing DAMS. In the future, Mitsui intends to conduct token sales to other crypto exchanges.
The primary objective of launching Zipangcoin is to offer a hedge on inflation, easily accessible to ordinary people without considerable investment. Nevertheless, the coin will also be promoted as a payment method in the future.
In the first year, Mitsui intends to issue ¥2 billion (or $17 million) worth of tokens. Furthermore, ¥12 billion ($104 million) worth of tokens is planned to be released over a period of three years. Overall, the firm intends to issue a maximum of $337 million worth of tokens.
The token price is roughly locked with the price of physical gold on the London Metal Exchange (plus expenses). In particular, one Zipangcoin (ZPG) equals one gram of gold. In the future, the firm also intends to facilitate the exchange of the digital asset for physical gold.
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