China’s blockchain satellite in space, Hong Kong’s McNuggets Metaverse: Asia Express

Chinese blockchain Sputnik’s maiden voyage

A Chinese outer has go the archetypal successful the satellite to transportation a blockchain imaging and screening strategy into orbit. 

According to section quality outlet Red Star News connected July 22, the Tai’an Star Era 16 was successfully launched into orbit from the China Jiuquan Satellite Launch Center. Developed by NationStar Aerospace Technology Co., the outer features a ocular blockchain on-orbit certificate retention strategy dubbed ‘ADAChain’ (not related to Cardano) developed in-house by NationStar. Researchers wrote: 

“The [ADAChain] tin recognize functions specified on-orbit ocular blockchain multi-signature authentication, on-orbit video ocular broadcasting, and on-orbit ocular distant sensing information retention certificate confirmation.”

The intent of the satellite’s voyage is to “obtain affluent spectral accusation connected the aboveground of the people area,” successful the fields of “precision agriculture, h2o resources management, mineral assets investigation, biology monitoring, and exigency safety.” Blockchain exertion volition besides assistance successful achieving the goals of “high spatial resolution, precocious spectral resolution, and precocious temporal resolution” successful specified outer imaging. 

The Tai’an Star Era 16 blockchain outer Launch (RedStar News)

Digital Yuan CBDC expands to Hong Kong 

The Bank of China’s Hong Kong subsidiary has allowed individuals successful the Special Administrative Region (SAR) to utilize the integer yuan cardinal slope integer currency (e-CNY CBDC) for retail shopping. 

According to a July 20 report, implicit 200 merchants, specified arsenic buying centers, pharmacies, convenience stores, and physics stores person accepted the e-CNY CBDC arsenic a means of outgo from shoppers originating successful Mainland China. The e-CNY CBDC is presently not disposable to Hong Kong users. 

As a SAR, Hong Kong maintains abstracted political, economical and societal institutions from Mainland China. Advocates person previously called for the Hong Kong authorities to contented its ain Hong Kong Dollar CBDC to vie with the likes of Tether (USDT) and USD Coin (USDC). Similarly, Chinese President Xi Jinping has emphasized the importance of CBDCs arsenic a means of settling planetary commercialized successful section currencies.

Terraform Labs struggles to get backmost connected its feet

“Every clip we would marque a small progress, determination would beryllium immoderate accusation oregon thing that would derail us,” said Terraform Labs’ interim CEO Chris Amani successful a Twitter Space connected July 20. 

According to Amani, the apprehension of the entity’s co-founder and erstwhile CEO Do Kwon successful Montenegro has fundamentally shattered each momentum that the ailing web is trying to reestablish. In May 2022, the $40 cardinal Terra Luna (LUNC) ecosystem collapsed owed to the implosion of its algorithmic stablecoin TerraUSD (USTC). Shortly afterward, Kwon created the Terra 2.0 (LUNA) ecosystem. The 3 tokens person a combined marketplace headdress of $1.3 cardinal astatine the clip of publication. 

Do Kwon faces charges successful a assortment of countries.

In its adjacent phase, Amani says that 9 projects built connected the combined Terra Luna ecosystem are scheduled to motorboat wrong the adjacent fewer months. None of the projects volition reportedly contented their ain tokens. In addition, Amani warned that the projects look stiff contention from different layer-one projects owed to lacking a Luna Foundation Guard oregon protocol treasury for fiscal support. 

South Korean crypto lender shuts down amid transgression proceedings

South Korean crypto lender Delio says each of its institution and customers’ assets person been seized successful a raid conducted by prosecutors connected July 18.

In the July 22 announcement, Delio announced it would intermission each involvement payments to users effectual instantly aft the plus seizures made it intolerable for the institution to proceed mean operations. In June, the crypto lender suspended each withdrawals and deposits connected its platform, citing vulnerability to counterparty and chap South Korean crypto lender Haru Invest, which successful crook suspended each transfers owed to an contented with a “consignment operator,” B&S Holdings. 

Haru Invest is presently undergoing bankruptcy proceedings. Meanwhile, Delio is 1 of the largest crypto lenders successful South Korea, with astir $1.5 cardinal successful lawsuit Bitcoin (BTC), Ether (ETH), and altcoin deposits. Since June 30, the steadfast has been nether probe by the country’s Financial Services Commission connected allegations of fraud, embezzlement and breach of trust.

The steadfast antecedently stated that it would alteration the withdrawal of users’ assets without stating a circumstantial timeframe. However, akin to the Multichain saga, it is improbable the institution tin bash truthful erstwhile customers’ assets person been seized arsenic portion of transgression proceedings.

In a July 23 blog post, Haru Invest CEO Hugo Lee wrote that B&S Holdings’ assets person besides been seized by authorities and that the institution is presently trying to retrieve the funds. All of the firm’s operations person been suspended, and the institution is scheduled to liquidate its remaining assets successful phases. Haru Invest presently has much than 80,000 users.

Indonesia’s nationalist crypto speech goes live

A nationalist cryptocurrency speech operated by the authorities of Indonesia volition beryllium the lone ineligible venue for trading crypto assets successful the Southeast Asian country. 

In a July 20 statement from the country’s Commodity Futures Trading Supervisory Agency, besides known arsenic Bappebti, the speech is presently unfastened for spot trading, with aboriginal plans to grow its offering to cryptocurrency futures and derivatives. All cryptocurrency speech registered wrong the state could articulation the nationalist exchange, which serves arsenic a clearing location to guarantee transactions abide by applicable regulations. 

Despite authoritative support, Islamic organizations successful Indonesia person antecedently deemed the usage of cryptocurrency to beryllium haram, oregon forbidden, for Muslim users. That said, determination is nary statement from Islamic scholars regarding the matter. 

On the 40th day of the instauration of chickenhearted McNuggets, McDonald’s Hong Kong is partnering with Sandbox to motorboat a namesake metaverse to observe the occasion.

Dubbed “McNuggets Land,” the metaverse volition let users to interact with McNuggets-themed gaming characters and avatars. Randy Lai, CEO of McDonald’s Hong Kong, commented: 

“Rooted successful Hong Kong for 48 years, McDonald’s has ever strived to present innovative experiences and Happy Moments. To observe the 40th day of Chicken McNuggets, we are excited to collaborate with The Sandbox to supply fun-filled Web3 Metaverse crippled experience.”

A reward excavation of 100,000 SAND tokens and 10,000 vouchers for McNugget perks volition beryllium distributed to participants. Since its introduction into past British Hong Kong successful 1975, the franchise presently operates 250 restaurants astir the city, serving much than 1 cardinal customers per day. 

The McNuggets Land Metaverse (Sandbox)