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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...
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Saudi Aramco dismisses 'false and inaccurate' rumors on Bitcoin mining

Saudi's biggest oil exporter denied claims of involvement in Bitcoin mining activities but continues to bet on blockchain-focused businesses.

The Saudi Arabian Oil Company (Saudi Aramco) had stirred interest among crypto enthusiasts last year after investing $5 million in a blockchain-based oil trading company Vakt. While this move aimed to digitize and streamline post-trade processing, Saudi Aramco was also rumored to undertake Bitcoin mining activities. 

However, Saudi Arabia’s state oil company released an official statement to dismiss the ongoing rumors around mining Bitcoin. It said:

“With reference to recent reports claiming that the company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.”

Many governments, including China, have recently unleashed a crackdown on home-grown crypto mining activities, forcing businesses to find refuge in other crypto-friendly countries. 

On the other hand, Middle Eastern geographies such as the United Arab Emirates and Saudi Arabia continue to test the latest innovations around cryptocurrency. The Central Bank of Bahrain recently issued a license to an in-house crypto exchange for legally operating within the province.

Related: UAE to experiment and launch an in-house digital currency

Saudi Aramco has an extensive history of investing in blockchain firms. As reported by Cointelegraph, a Saudi Aramco Subsidiary was part of a $6 million deal with Data Gumbo Corp. for developing a commercial blockchain network. 

Just last month, the Central Bank of the UAE announced its 2023-2026 strategy that highlighted concrete steps to experiment and launch an in-house digital currency. As a part of this initiative, the UAE government intends to implement a digital identity system “to bolster financial inclusion and easy access to financial services.”

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