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Blockchain Platform Owned by Russia’s Richest Man Gets Greenlight to Tokenize Air Tickets

Vladimir Potanin, arguably the richest man in Russia, has been granted permission to offer digital tokens to book air tickets, purchase metals, and transfer ski passes using his blockchain platform, Atomyze. As reported by Bloomberg on Feb. 25, the much-needed go-aheadwas given by the nation’s central bank last week based on Potanin’s urge to tokenize commodities from a consumer perspective.

Atomyze to revamp commerce

One of the primary objectives of the blockchain platform is to transform the interaction between companies and customers. Atomyze, therefore, seeks to minimize paperwork and hasten transactions.

By leveraging on distributed ledger technology (DLT), the commodities industry strives to digitize trading systems as this will guarantee reduced costs and supervision based on the optimal traceability of materials.

Potanin has been optimistic about crypto tokens as he noted that they might ultimately account for a fifth of sales made by MMC Norilsk Nickel PJSC, the globe’s largest palladium, and refined nickel producer. He, therefore, feels that they could significantly impact metals, but can be extended to other services, such as transferring ski passes and booking air tickets.

Nevertheless, Atomyze will have to get approval from the central bank to extend its scope, especially to service-oriented companies. The blockchain platform will aid the processing of individuals’ money transactions through a state-owned bank called Russian Lender Sberbank PJSC.

Russia ripe for new blockchain projects

It is speculated that Atomyze may be the stepping stone in the Russian blockchain market as it may prompt other companies to seek approval for similar projects. Potanin acknowledged that the Russian central bank took nearly four months testing Atomyze for it to be given the green light. He added, “Our project is of great importance for the economy because the easier new products are offered, the faster they are produced.”

Last week Blockchain.News revealed that tokenization was set to take center stage in the Russian market after it successfully underwent a test period as reforms for newly proposed cryptocurrency legislation got thumbs up. With Atomyze breaking ground, it seems the Russian crypto space has reached a new lease of life.

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How Blockchain is Prompting Innovations in Waste Management

Waste management is an essential procedure as it entails the actions and activities, such as treatment, transportation, and collection, necessitated in the disposal and control of waste. Additionally, waste takes different forms ranging from gas to liquid matter.

As we continue adapting tech-savvy lifestyles, the issue of electronic waste or e-waste has become prevalent as the usefulness of many electronic gadgets and products continues to diminish. According to a United Nations report, the world emitsas much as 50 million tonnes of e-waste worth $62.5 billion annually, and this exceeds the GDP of most nations. On the other hand, the amount of municipal solid waste produced yearly surpasses 2.01 billion tonnes.

These statistics, therefore, show how prudent it becomes to have efficient waste management measures. Blockchain can come in handy in the realization of this objective through the creation of a trustworthy, transparent, and immutable supply chain network for a plethora of different records. This technology can aid in the digital tracking of information, allowing an in-depth analysis of supply chains.

Trading off waste for digital tokens

When it comes to waste management, creativity, and tech-savviness are necessitated as they encourage people to incorporate more environmentally friendly measures. For instance, by offering some form of compensation, people will feel entitled to dispose of waste in the right manner.

Blockchain has proven to be an ideal player in initializing digital tokens. For instance, a Canadian company called Plastic Bank in operation in Haiti and Peru utilizes a blockchain solution to reduce the ecological ruin prompted by plastic waste.

The company has strategically located recycling centers where people take their waste, such as empty plastic water bottles, cups, and bags in exchange for digital tokens secured via a blockchain platform and can be redeemed for food or charging phones. All the plastic collected is then sold to a buyer for recycling purposes.

This blockchain model is gaining traction because an Italian town called Miglianico borrowed a leaf by implementinga similar idea. Through a blockchain-powered “Pay as You Throw” (PAYT) model, the town has been able to enhance waste management as the annual cost of waste collection has decreased from €900,000, approximately $974,000, to €600,000, nearly $649,000.

Miglianico uses both the blockchain-powered PAYT model and radio-frequency identification (RFID) tags pegged on sacks and bins. Collection staff is offered wristbands for scanning residents’ waste. This approach has enabled the town to realize 85% of waste management efficiency.

Solving the e-waste puzzle

The present recycling management systems are, at times, characterized by cheating as owners usually exploit loopholes to make more profit. For instance, staff may be coerced to collect recyclable items but not make records on the same.

With blockchain, these loopholes will be sealed because a transaction will have to be stored on its distributed ledger technology (DLT) that guarantees tamper-proof records. For example, blockchain can be incorporated into satellite recycling machines where people can be enticed to exchange their functionless and old electronics and gadgets with digital tokens.

South Korea’s Jeju Island has heeded to this call because it revealedthe implementation of a blockchain-enabled electric vehicle waste-battery distribution management network meant to curb depleted electric vehicle batteries last month.

Real-time tracking of waste

The other solution blockchain can offer in waste management is real-time tracking. Given that blockchain is a digital ledger network, transactions are stored both publicly and chronologically. As a result, this can boost the easier tracking of recycling and waste shipments, as well as propel regulatory compliance.

For instance, in September 2019, Waste2Wear, a Dutch green fabrics company, launched the first-ever fabric collection meant to convert ocean plastics into eco-fabrics.

Climate change and global warming are predicaments continuously wreaking havoc in modern society, and this is partly caused by inadequate waste management solutions. Blockchain, however, offers hope for boosting waste management measures through various strategies, such as distributed ledgers and digital tokens.

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Steamboat Willie Enters Public Domain, Inspires NFT and Meme Coin Craze

As the calendar turned to 2024, a significant event in the world of digital art and copyright law occurred. The original version of Mickey Mouse, as seen in the 1928 short film “Steamboat Willie,” officially entered the public domain. This development marked the end of the Walt Disney Company’s copyright claim over this specific version of one of the most iconic characters in animation history. The United States law restricts copyright to a lifespan of 95 years, bringing Steamboat Willie into the public domain after nearly a century.

The Rise of Steamboat Willie NFTs

Following this event, a remarkable surge in the popularity of nonfungible tokens (NFTs) related to Steamboat Willie was observed. Three specific NFT collections, namely “Steamboat Willie Public Domain 2024,” “Steamboat Willie,” and “Steamboat Willie’s Riverboat,” quickly ascended to the top spots on OpenSea’s 24-hour trending list. The “Steamboat Willie Public Domain 2024” collection garnered significant attention, achieving around $1.2 million in trading volume and securing the number one position. Furthermore, this collection also ranked sixth on OpenSea’s 24-hour top charts, a notable achievement considering the presence of other popular collections like the Bored Ape Yacht Club (BAYC) and Pudgy Penguins.

Disney’s Response

Disney, in response to the expiration of the copyright for Steamboat Willie, emphasized that modern interpretations of Mickey Mouse remain protected under copyright law. A spokesperson for Disney highlighted their commitment to safeguarding their rights in these modern versions and warned against potential consumer confusion due to unauthorized uses of the character.

Mickey Mouse Meme Coins

The entry of Steamboat Willie into the public domain not only sparked a trend in NFTs but also led to the creation of meme coins featuring the character. Crypto enthusiasts swiftly capitalized on this development, minting digital tokens and meme coins to commemorate the occasion. This movement represents a significant shift in the digital representation of cultural icons, as these tokens and coins symbolize a new chapter in the digital art world. Additionally, a dedicated website for “Mickey Token” was launched, offering crypto products related to this famed Disney icon.

How Casinos Are Using Digital Tokens to Enhance Player Loyalty Programmes

In the fiercely competitive landscape of online gambling, where attracting and retaining players is paramount, loyalty programmes have emerged as a crucial tool. By leveraging digital tokens, these programmes offer cost-effective incentives that not only keep players engaged but also foster long-term loyalty to the platform. Let’s delve into how the integration of digital tokens is reshaping loyalty programmes within online casinos, providing players with unprecedented benefits and strengthening their allegiance to the platform.

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What Are Digital Tokens

Digital tokens are like digital assets stored online that can represent money, ownership, or access to services in a specific digital environment. Traditionally, loyalty programmes used points, but now digital tokens, like cryptocurrencies, are gaining popularity.

These tokens, earned for loyalty, offer better security, transparency, and potential value growth over time. This change improves customer rewards, making loyalty programmes more engaging for businesses and customers alike.

How to Get Started

Digital tokens have not permeated the realm of online casinos so well up until now. The options are few and far apart. Leading review sites often compare the cutting-edge, innovative features of multiple online casinos to offer their recommendations.

For instance, if you peruse a bonus buy slots comparison, such as the one provided on https://www.slotozilla.com/uk/slots-features/bonus-buy, you’ll uncover a wealth of valuable information waiting to be explored.

But that’s not the case when it comes to casinos offering digital tokens. For once, it’s a fairly new strategy. At the same time, it’s not super easy to implement either. For an industry with a steady annual growth of roughly 10% in the US, it makes sense to invest more in innovating technologies to onboard and retain more users.

Flexibility & Utility

Casinos that use digital tokens have an inherent advantage over those that don’t. These tokens are significantly more flexible compared to traditional points. They can be tied to a variety of rewards or achievements. And the best part? They can be used for different things, such as purchasing in-game perks or participating in exclusive tournaments.

Source: unsplash

Overall, this flexibility and utility built into digital tokens improves your user experience on the platform. It becomes so much easier to play. The casino ecosystem also becomes more streamlined with a digital token system.

Online gambling is quickly becoming a legitimate form of entertainment that rivals movies and video games. Poised to become a $153.21 billion industry by 2029, it’s certainly one of the leading segments where we’re seeing constant innovation. The driving force is the quick adoption of new trends and innovative technology, as exemplified by the ever-increasing use of blockchain to offer user-friendly technological solutions to casino lovers and sports betting enthusiasts.

Revolutionising US Online Gambling Through Technological Innovation

Enhancing the online gambling experience in the US demands relentless innovation. By investing in cutting-edge technologies such as virtual reality and artificial intelligence, operators can not only attract but also retain users in this fiercely competitive market. Prioritising innovation isn’t just a strategy; it’s a necessity for securing a sustainable advantage in this rapidly evolving landscape.

In a sector witnessing a consistent annual growth rate of approximately 10% in the US, doubling down on innovative technologies is not merely an option but a strategic imperative. That is why when seeking out free slots and bonuses, it’s essential to check read more about the details. Understanding the intricacies of these offerings not only enriches your gaming experience but also ensures you maximise the benefits they offer.

Wrapping Up

Digital tokens in online casino loyalty programmes offer improved security, transparency, and value growth over traditional points systems. Embracing this innovation is crucial for operators to stay competitive and provide enhanced gaming experiences to players in the evolving online gambling industry.