One of the most exciting things about blockchain technology is the boom in innovation it has created all over the world. Thanks to the open-source nature of blockchain development, small teams of developers in remote and isolated areas have been able to create some truly noteworthy projects. Here are three recent news stories about new applications of blockchain technology from around the globe.
1. Ethereum-backed real estate fund approved in Liechtenstein. The tiny European country of Liechtenstein (pop. 38,000) isn’t typically considered a hub of technological innovation, but that may soon change thanks to the AARGOS Global Real Estate Fund. Liechtenstein’s Financial Market Authority recently approved AARGOS for a new, fully regulated, Ethereum-based fundraising system that will allow the company to sell tokenized shares of the company’s real estate investments. While not the first tokenized real estate project, AARGOS may see significant interest from European investors thanks to Liechtenstein’s tax laws.
2. Venezuelan tech firm developing radio-based BTC network. Times are tough in Venezuela. The country’s economy is now several years into a near-total collapse, resulting in an almost incomprehensible 1,000,000% hyperinflation in 2019. It’s a situation that should be perfect for cryptocurrency to establish a foothold, but the reality is a little more complicated. Thanks to an outdated and badly maintained infrastructure, both electricity and internet access are unreliable at the best of times. Cryptocurrency developers in the country are currently working on an innovative solution, building a decentralized mesh network that would broadcast blockchain data over radio waves. The system would allow transactions to be transmitted over long distances using battery-powered computers — such as the Raspberry Pi — connected to DIY radio modules. As long as at least one of the network nodes is connected to the internet, blockchain-based transactions should be possible. Developers expect to roll out the first version of the technology later this year.
3. Historic Turkish city of Konya proposes “City Coin” blockchain. Founded sometime in the Copper Age (around 3,000 B.C.E.), the city of Konya has seen a lot of technological trends come and go. Last week, the city’s mayor, Uğur İbrahim Altay, announced a new initiative that would bring Konya into the Blockchain Age, creating a “City Coin” and supporting blockchain ecosystem. The token will be initially tested as payment system for public transportation and other municipal services. The City Coin project is part of a larger initiative backed by the Konya Science Center, which aims to create a “Science and Technology Valley” in the region.
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