In a recent manoeuvre to the intersection of technology and astronomy, a Chinese satellite, known as Tai’an Star Era 16, was successfully sent into orbit. Developed by NationStar Aerospace Technology Co., it has become the world’s first satellite to carry a blockchain imaging and screening system into space. The system, referred to as ‘ADAChain’, has been created in-house and is known to facilitate functions such as multi-signature authentication, video visual broadcasting, and data storage certificate confirmation.
Arguably, the charm of launching satellites equipped with blockchain technology lies in its rich spectral information provision, which effectively assists an array of sectors including agriculture, environmental monitoring, and emergency safety. Additionally, blockchain technology enhances the quality of satellite imaging by driving high spatial, spectral, and temporal resolution.
Apart from its giant leap in satellite technology, China is also making strides in its expansion of the digital yuan. The Bank of China has facilitated usage of the e-CNY CBDC for retail purchases in Hong Kong. However, despite this phenomenal progress, a cloud of uncertainty looms over Hong Kong’s thought process about issuing its own CBDC to compete with the likes of USDT and USDC.
In contrast to these goal-driven strides, Terraform Labs walks a much rockier path. Its former CEO, Do Kwon, has been a hurdle for the company’s efforts to regain lost momentum, owing to his alleged criminal charges. This was aggravated following the collapse of the $40 billion Terra Luna ecosystem.
Meanwhile, South Korean crypto lender, Delio, has rubbled to a shutdown following a raid by prosecutors that resulted in the seizure of all assets. This creates a future on shaky ground for its users, who are now uncertain of their ability to withdraw assets.
In terms of global reach, Indonesia has made an impact with the launch of its national cryptocurrency exchange. The only legalized platform for trading crypto assets in the country has been received with mixed emotions due to contrasting views about crypto usage in the Muslim community.
Finally, in an unusual twist, McDonald’s Hong Kong united forces with Sandbox to celebrate its 40th anniversary of Chicken McNuggets by allowing users to interact with McNugget-themed characters through their metaverse ‘McNuggets Land’. Despite the fun-filled venture, it will be interesting to see the tangible outputs of this concept and how it evolves in reality.
Overall, the journey of blockchain technology is an exciting ride, filled with ups and downs, victories and pitfalls, but undeniably, the possibilities seem endless.
Source: Cointelegraph
