Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Traders, analysts offer mixed reactions to El Salvador’s BTC announcement

While some made out the announcement from a Lightning Wallet developer to be historic, the market seems to think it's ho-hum.

While it was billed as the “one of the biggest announcements in Bitcoin's history,” the market seems to be puzzling over the landmark reveal that El Salvador’s sitting President will be submitting legislation to recognize Bitcoin as legal tender. 

In a presentation at Bitcoin 2021 from Jack Mallers, CEO of Zap — developers of a previously low-profile Lightning Network wallet app named Strike — Mallers showed a short video from Salvadorian president Nayib Bukele where the leader of the 104th largest global economy announced the historic legislation. Strike currently has a 3.2 out of 5 star rating on the Google Play store.

“Next week, I will send to Congress a bill that makes Bitcoin legal money,” Bukele said in the video.

Bukele, who has been characterized as a strongman and an autocrat, consolidated his power last month by firing five judges as well as the country’s attorney general. A recent Reddit thread from a self-professed Salvadorian framed the move as one that will be popular both with Bukele’s supermajority party, as well as with the general populace. 

The move has been long-awaited in Bitcoin circles, with some speculating that nation-states would come to accept, transact in, and hold the world's largest digital asset as part of treasury reserves.

A Tweet thread from Bitcoin advocate Caitlyn Long noted that it may be a “back door” way for banks to handle and custody BTC:

While the announcement led to widespread elation at the conference, the market response has been tepid. BTC is effectively flat on a 24 hour basis, and down 3.5% on a 14-day basis. 

Part of the muted response may be due in part to the exact nature of the announcement being unclear. A self-described hacker on Twitter noted that Strike is not trustless and is censorable, meaning that this implementation of BTC as legal tender won't be the anarcho-capitalist utopia some hodlers long for.

While it hasn't moved markets, Bukele noted in a recent Tweet that the new policy may be an important boon for many Salvadorians, especially the upwards of 70% of the population that does not have a bank account, regardless of the implementation technicalities:

“Financial inclusion is not only a moral imperative, but also a way to grow the country’s economy, providing access to credit, savings, investment and secure transactions.”
https://ift.tt/3uY3Bks
Labels:

Comments

Post a Comment

Popular posts from this blog

Earn up to 50% APY by Staking $GLQ on GraphLinq App

PRESS RELEASE. The newest utility token to offer staking to its users/holders is GraphLinq Protocol’s $GLQ. As of this article, $GLQ has 4,500+ holders according to etherscan, excluding GLQ holders on CEX like Kucoin, MXC, Gate. This is a great step for the future of the project as it will further incentivize more users to hold. Explore more about GraphLinq, its staking mechanism & steps to stake. What Is GraphLinq? GraphLinq – The No Code protocol for automating actions on-chain & off-chain, launched in just March 2021, has come a long way bringing users in the crypto space a never seen model of integrating blockchain automation on any blockchain-related/non-related task. The goal of the GraphLinq protocol is to allow users to interact blockchains with any connected system as effortlessly as possible without any prior knowledge of coding. GraphLinq ecosystem currently consists of an engine, an integrated development environment ( IDE ) & an app to provide automated...
Post a Comment
Read more

Coinsquare launches Quick Trade mobile app with instant funding

One of Canada's largest crypto exchanges has launched a new mobile application designed to streamline the buying and selling of Bitcoin and Ethereum. Coinsquare , the Toronto-based digital currency platform, has announced a new mobile trading application designed to simplify the buying and selling of cryptocurrencies in Canada.  Quick Trade was officially unveiled Monday, allowing commission-free transactions of Bitcoin ( BTC ), Ethereum ( ETH ), Litecoin ( LTC ) and Bitcoin Cash ( BTC ). A total of 15 trading pairs are available at launch, with “many more digital assets to be onboarded over the coming months,” the company said. The app is available on Android and Apple devices alongside Coinsquare’s existing mobile application, which is an extension of its web-based trading platform. In addition to commission-free trades, the new app allows for instant account funding via Interac e-Transfer – a considerable upgrade from Coinsquare’s current funding window, which can take up t...
Post a Comment
Read more

Blockchain identity market to grow $3.58B by 2025, report claims

A new forecast for the global blockchain identity management market expects growth at a compound annual growth rate of almost 71% during 2021-25. A new report on the potential for blockchain identity management solutions to become integrated across sectors has forecast strong growth for its global market, at a compound annual rate of close to 71%. The report grounds its predictions on a study broken down into segments: by sector – e.g., government, healthcare, banking, financial services and insurance (BFSI) – geography, and applications. It was published by the Lyon-headquartered market research solution provider ReportLinker.  Drawing on an analysis of several existing blockchain identity management market vendors – Accenture, Amazon, Bitfury Group, Civic Technologies, and others – the report expects the total global market to grow by $3.58 billion between 2021 and 2025. Related:  The future of DeFi is spread across multiple blockchains The study’s baseline assumption...
Post a Comment
Read more