The “.polygon” decentralized domains that will be developed from the partnership between Polygon Labs and Unstoppable Domains will enable new features for members of the Polygon community. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Polygon and Unstoppable Domains team up for new Web3 domains
📍Polygon announced that new Web3 domains alongside Unstoppable Domains will provide users with a new digital identity to connect to over 750 DApps. Sanket Shah, VP of Technology Development at Polygon Labs, highlighted that users will be able to log into different decentralized finance, gaming and metaverse applications on the Polygon blockchain ecosystem without having to use or reveal personal data or information.
Decentralized “.polygon” domains will also make it easier for users to send and receive cryptocurrencies and NFT tokens, as well as facilitate the creation of decentralized websites.
Optimism reigns among Bitcoiners, despite the collapse of several banking entities
📍Josef Tetek, an analyst at Trezor, sees some silver lining in the collapse of Silicon Valley Bank and other banking institutions. Tetek said, among other things, that the fragility of the current banking system has highlighted the characteristics and potential of Bitcoin and the cryptocurrency industry. The price of BTC has risen by 13% in the last week as a result of the US monetary policies.
Will Clemente, co-founder of Reflexivity Research, manifested that the current fiat system is just a “manipulated illusion” and that only Bitcoin offers decentralization and freedom.
Australia's first intrabank cross-border stablecoin transfer takes place
📍National Australia Bank executed a cross-border transaction using stablecoins. Australian bank National Australia Bank (NAB), one of the country's leading banking institutions, issued its own stablecoins pegged to the Australian dollar to carry out the transaction, believed to be the first intra-bank cross-border transfer of stablecoins on a public, permissionless blockchain like Ethereum.
According to National Australia Bank, the operation brought significant benefits to the process of cross-border transactions, mainly in the reduction of fees and in the execution and confirmation time of this type of transaction.
Blackfold, a blockchain tokenization solutions provider, and Fireblocks, a crypto custody services provider, collaborated with National Australia Bank to create the smart contracts and mint the stablecoins.
Blockchain takes over the logistics and supply chain industry
📍China's COSCO Shipping tests blockchain-based supply chain solution. Blockchain continues to expand in the logistics and supply chain industry. In this regard, COSCO Shipping, considered one of the largest shipping companies in the world, has partnered with the Shanghai Chemical Industry Testing Research Institute to implement a blockchain-based solution that guarantees the verification and security of the chemical cargo it transports.
COSCO Shipping is using the Global Shipping Business Network, designed to facilitate international trade, to conduct proper cargo verification processes.
According to Ledger Insights, Global Shipping Business Network He launched a proof of concept to verify a cargo of chemicals and lithium batteries in order to issue a safety certification that is traceable between interested parties. The network has plans to integrate, in addition to blockchain, other technologies, such as the Internet of Things, to carry out the verification processes of chemical cargoes in real time and in a more transparent manner.
Global Shipping Business Network highlighted that blockchain technology helps shipping companies manage their cargo in safer and more efficient ways, ensuring the protection of their crews.
Continue reading: Jameson Lopp: “I regret not buying more Bitcoin”
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