The lowdown this week...
- One South Korean store on the metaverse has dedicated themselves to promoting drinking culture
- Algaecoin moves to raise funds for algae biomass protein farms
- Italy devotes $46 million for companies that plan on conducting blockchain research
- Ethics watchdog in the US objects to federal employees with crypto assets being involved in crypto policymaking
Italy reserves over $46 million for local companies conducting blockchain research
Italy's latest mandate reserved over $46 million for companies that plan on creating subsidiaries for blockchain research. This mandate will be implemented from September 21st, 2022 - either jointly or individually. Italy is ranked #10 in 27 countries that have the highest crypto adoption. Currently, the budget is $46 million at the time of publication.
“The challenge of competitiveness – he adds – requires the manufacturing industry to constantly innovate and grasp the potential of new technologies.”
Giancarlo Giorgetti, Minister of Economic Development
The Italian Companies and Exchange Commission, or CONSOB - had previously warned citizens about the dangers of crypto investments. However, the government is quickly warming up to new innovations in crypto technology. The success of regulatory approval in Italy can mostly be credited to Organismo Agenti e Mediatori, who was responsible for the regulatory approval of Binance Italy. Thus far, the Italian government has invested in technology and innovation paired with massive potential in blockchain research.
Order in the Court!
The US Office of Government Ethics has crypto qualms with federal employees
The US Office of Government Ethics sees digital assets as a major thorn in their side - especially when it comes to federal employees owning digital assets. The office's legal definition of "publicly traded securities" does not fall in alignment with stablecoins and cryptocurrencies. Presently, any employee who holds digital assets may not participate in any matter related to the value of stablecoins or cryptocurrency. Conflicting financial opinions within the office are strictly prohibited - and the executive branch aims to separate personal financial opinions from work as much as possible. The advisory also encouraged government agencies to be alert when screening employees for their perspectives on crypto-related funds.
Talk of The Town
A new token plans to promote sustainability for algae biomass protein farms
Agricultural technology is making its way over to crypto, and it's being embraced by renewable energy. Sustainable Impact Tokens plans on generating carbon credits that will be tokenized and listed on exchanges as Algaecoin.
"Being part of this pioneering project marks an important milestone in our ongoing mission to enable frictionless asset creation and transferability. With Globacap, the capital raising process is completely digital, mostly automated, transparent, secure, and compliant."
Myles Milston, CEO of Globacap
Milston speaks fondly of Algaecoin as a token with huge potential. Algae biomass farms can potentially help reduce the carbon footprint of the crypto industry, and revolutionize the market while saving our ecosystem.
JJAANN is the place for all things related to alcohol in the metaverse
Cu, the industry-leading convenience store based in South Korea - is bringing drinking culture to the metaverse. With its membership app, Cu plans to begin food delivery services. Store banners will be displayed in the metaverse that can be scanned for snacks, while drinks will be served in a virtual lounge. JJAANN plans on hosting all things related to alcohol for individuals who want to bond virtually. Their metaverse will also have a wide array of entertainment choices like karaoke, or playing games.
Cu originally planned on adopting cryptocurrencies as a payment method in 2019, but only recently integrated crypto payments. All you need is a phone to scan the barcode from the app, and the drinks or snacks will be delivered to your doorstep! For crypto and alcohol fans alike - JJAANN is the place to be to meet old and new friends.
Food for thought:
- Do you think that federal employees with digital assets should be able to work in crypto policymaking?
- Would you buy a drink in the metaverse? If so, which kind?
- What European countries do you think will follow suit to Italy?
- What do you think about the marriage of agriculture and crypto? Yay or nay?
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. Charts, graphs and references to any digital assets are for informational and illustrative purposes only.
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