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March 18,2024

Charles Hoskinson Defends Hydra Protocol As Cardano Reaches New Milestone

Cardano (ADA) has reached a significant milestone with the introduction of USDM, a stablecoin backed by fiat currency. The Mehen token (USDM) serves as a digital store of value, issued by Mehen Finance, with a 1:1 conversion rate to USD.

As a native token on the Cardano blockchain, USDM can be transferred without the need for additional smart contracts. Mehen announced on X that institutional customers will commence the onboarding process, expected to take one to two days, indicating that USDM will gradually integrate into the blockchain during the week starting March 18th. This development marks a pivotal moment for Cardano as it expands its ecosystem, attracting more users and developers.


Introducing USDM

USDM is distinguished as the first stablecoin of its kind on Cardano, in contrast to algorithmic or synthetic tokens like iUSD and DJED. Notably, USDM is fully backed by USD at a 1:1 ratio. Users deposit dollars into their Mehen account, which shall be held within separate accounts for token holders.

Following the completion of transactions, users can mint an equivalent amount of USDM cryptocurrency tokens. Consequently, the stablecoin market on Cardano has seen significant growth, with a 37% increase quarter-over-quarter and a remarkable 673% year-over-year surge, further fueled by the introduction of the USDM stablecoin.


Promoting Hydra

Cardano founder Charles Hoskinson recently responded to concerns regarding the Hydra protocol on X, dismissing what he termed as FUD (Fear, Uncertainty, and Doubt). Hoskinson affirmed the continued progress of the project, emphasizing the heightened productivity and motivation of the team as well as their commitment to see things through.

Charles went out of his way to reassure Cardano enthusiasts and ADA holders while simultaneously underscoring that Hydra is in fact advancing with robust community engagement and substantial protocol enhancements, and that the best is yet to come.


March 18,2024

SHIB Community Adopts A Proactive Approach By Burning Millions Of Tokens

Recent data disclosed by the Shibburn tracker unveiled a notable reduction in circulating Shiba Inu (SHIB) meme coins. Within the past 24 hours, the SHIB community cooperatively moved 28,709,351 SHIB coins into a non-functional wallet, effectively diminishing the overall supply.

This accomplishment was realized through six specific transactions, the largest of which transferred 21,657,489 and 6,824,773 SHIB coins respectively. This strategic move marks a significant step in reducing the availability of SHIB in the cryptocurrency market. The decision to burn these coins underscores a growing dedication by the Shiba Inu community toward enhancing the value of their preferred cryptocurrency by limiting its circulation.


Going Back And Forth

Concurrently, Shiba Inu cryptocurrency has witnessed substantial fluctuations in its price. Over the last 48 hours, SHIB experienced a sharp decline of 19.20%, with 13.17% of this drop occurring within the last day. This decline follows a period of remarkable growth during which SHIB eliminated two zeros from its value, reaching a peak of $0.00003 before correcting to its current trading price of $0.00002811.

These price fluctuations in Shiba Inu are closely correlated with broader trends in the cryptocurrency market, particularly in response to a significant correction in the value of Bitcoin. Following its peak at $73,750, Bitcoin underwent a downturn and is presently trading at $68,321. This movement reflects the volatile nature of the cryptocurrency market, where substantial gains can swiftly be followed by steep declines.


Pros And Cons Of Meme Coins

The recent actions concerning Shiba Inu, including coin burning and price adjustments, underscore the dynamic and community-driven nature of meme cryptocurrencies. These occurrences highlight the unique factors that influence the valuation and perception of digital currencies like Shiba Inu within the constantly evolving crypto landscape.

Meme coins present both advantages and disadvantages. On the positive side, they often experience rapid price appreciation driven by enthusiastic communities and speculative trading. Their low entry barriers make them accessible to new investors, and they can serve as an introduction to the world of cryptocurrencies and blockchain technology.

However, these coins also come with significant drawbacks. Their speculative nature makes them highly volatile and prone to unpredictable price swings. Moreover, meme coins typically lack intrinsic value or utility beyond speculative trading, leaving them vulnerable to pump-and-dump schemes. They may also have limited long-term viability as investment assets and pose risks of scams and rug pulls due to the decentralized and unregulated nature of many meme coin projects.


March 18,2024

Fundraising Deals - March 12th to 18th, 2024

Here are the latest fundraising deals in Web3, courtesy of CryptoWeekly.



Berachain from the United States secured an impressive $69M in a Venture round of funding led by BH Digital on March 15th, 2024. Berachain is a high-performance, EVM-compatible blockchain built on Proof-of-Liquidity consensus.



Nyan Heroes, based in Singapore, raised $3M in a Venture round, supported by Mechanism Capital on March 14th, 2024. Powered by Unreal Engine 5 and blockchain technology, Nyan Heroes offers a AAA multiplayer experience with multiple character classes and unique gameplay abilities.



D2X Group, operating out of The Netherlands, closed a Series A funding round worth $10M, with Point72 Ventures as the lead investor on March 14th, 2024. D2X is launching the first regulated (MiFID II) crypto futures & options trading venue out of the Netherlands to facilitate the institutional adoption of the asset class.



Polyhedra Network, headquartered in the United States, announced a successful Series B funding round of $20M, with Polychain leading the investment on March 14th, 2024. Polyhedra focuses on empowering interoperability and computation via ZK in addition to making Web3 more scalable.



mmERCH, a startup based in the United States, secured $6.4M in seed funding from Liberty City Ventures on March 14th, 2024. This is a company that believes in a world of difference where clothes are as distinctive as DNA and users have got the on-chain data to prove it.



Clique, also from the United States, raised $8M in a Series A round with Polychain as the primary investor on March 14th, 2024. The Clique Compute Coordination Network organizes various heterogenous compute resources, allocating them as needed by both general applications and smart contracts.



Gaxos.AI, based in the United States, received $3.5M in Post-IPO Equity funding, although the investor remains unknown, on March 13th, 2024. Gaxos.AI is transforming the way humans interact with AI.



Coinbase announced a significant Post-IPO Debt funding round of $1.1B, with the investor undisclosed, on March 13th , 2024. Coinbase is an American publicly traded company that operates a crypto exchange platform.



SnowSeed, hailing from Indonesia, secured $5M in seed funding from Medi Crypto International on March 12th, 2024. This is an NFT investmet platform that combines the advantages of physical assets and non-fungible tokens.



Kulipa, operating in the United States, raised $3M in seed funding from an undisclosed investor on March 12th, 2024. Kulipa enables self custodial crypto wallets to issue their own debit card through their API-as-a-service platform for seamless integration.



Elixir Network closed a Series B funding round with a notable $8M investment led by Maelstrom on March 12th, 2024. Elixir builds orderbook liquidity across exchanges via a high-throughput DPoS network.

March 17,2024

Bitcoin Struggles A Bit As US Economy Looks To Bounce Back

Binance Coin (BNB) stood out as a significant gainer this week among the leading alternative cryptocurrencies, while SHIB and DOGE have experienced a decline of 3% amid the ongoing meme coin frenzy. Bitcoin (BTC) encountered heightened volatility toward the end of the trading week, witnessing a drop of $8,000 in its price.

However, it has since recovered some of these losses. Several alternative cryptocurrencies have also rebounded since the crash on Friday, with AVAX, BNB, SOL, and APT emerging as the top performers recently.


Bitcoin Bounces Around

The week began with fluctuations, starting with a drop to $67,000 before a surge led to a new all-time high of approximately $73,000. Despite briefly surpassing this level on Tuesday, Bitcoin faced selling pressure, dropping to under $69,000 within hours. Subsequent volatility saw another all-time high near $74,000 on Thursday, followed by a sharp decline of around $8,000, leading to a weekly low of under $66,000.

BTC initiated its recovery shortly after, briefly exceeding $70,000 overnight but struggling to sustain this level. Currently, BTC trades at just over $69,000, with a market cap exceeding $1.350 trillion and dominance over alternative cryptocurrencies sitting at 49.2%. Meanwhile, SOL displayed notable resilience, with an 8% increase and trading above $190, its highest in over two years. AVAX surged by 12% to $60, reclaiming multi-year highs, while BNB has surpassed $600 again with a 5% increase. APT has surged by 14% to $15, while DOGE and SHIB have experienced a modest decline of just over 3%, and ETH remains stable at just over $3,700.

The total cryptocurrency market cap has rebounded by over $60 billion in a day, now standing at over $2.760 trillion on CoinGecko.


Other Markets

The considerable drop in US natural gas prices this year is quietly aiding the local economy, reducing certain energy expenses while other essential costs continue to climb. Despite not garnering as much attention as crude oil, natural gas plays a crucial role in the US economy, serving as a foundational fuel utilized for heating homes, generating electricity, powering factories, and producing fertilizer.

Elsewhere, the European Union is increasingly exerting pressure on importers of Russian liquefied natural gas to curtail purchases this year, as stated by Energy Commissioner Kadri Simson. This initiative indicates growing efforts to realign energy sources and disrupt the funding of Russian military operations following the full-scale invasion of Ukraine in 2022. Bond fund managers are grappling with excess cash, turning to the derivatives market to deploy it, thereby driving down the cost of safeguarding against defaults to levels akin to those seen when central banks were initiating interest rate hikes.

For those on the lookout for market bubbles, indicators of overextension are readily apparent, with cryptocurrencies experiencing a resurgence and Nvidia Corp. surging by almost 80% since the beginning of the year. However, despite potential signs of speculative fervor on Wall Street, such sentiment has not permeated one of the riskiest sectors of the US stock market, namely unprofitable technology firms.


March 16,2024

BOME Skyrockets As Meme Coin Mania Grips The Crypto Community

The Book of Meme (BOME), crafted by the creator of Pepe, Darkfarms, has seen an astounding surge, increasing by 20 times within just three hours. This surge has catapulted the market value of the crypto to nearly $400 million. The pre-sale for BOME commenced on March 13th, enabling participants to transfer an unspecified amount of SOL tokens to a specified address.

The Book of Meme encompasses an updatable electronic magazine, a meme creation tool, and an extensive meme library featuring non-mint JPEGs. Developed on Solana by the creator behind the Pepe meme coin, the project employs Arweave, IPFS, and inscriptions for data storage, doubling as a social platform for cross-chain storage. Future plans involve using a single NFT to connect all stored content related to a specific meme.


Solana Meme Coin Skyrockets

BOME quickly gained traction within the Sino-British community. The pre-sale garnered an unexpected 10,131 SOL, surpassing initial expectations of 500 to 600 SOL by a significant margin. This overwhelming response prompted a subsequent community vote on how to allocate the pre-sale funds.

Following the pre-sale, Darkfarms utilized the raised funds to establish a liquidity pool, setting the initial price of BOME at $0.0000496. Substantial purchase orders of 100 SOL contributed to a highly liquid market, resulting in a price peak of $0.0012. This surge subsequently increased the market capitalization of BOME to $375 million.

Shortly afterwards, several exchanges, including BitMart and HTX, expressed intentions to list the asset. Bitmart later confirmed the primary listing of the altcoin on March 14th, introducing an initial trading pair with USDT.


Meme Coin Frenzy

BOME skyrocketing aligns with a broader uptick in the meme coin sector, which recently reached a market cap of $40 billion and saw many people become millionaires in a short amount of time. Earlier this year, Dogecoin (DOGE), Pepe (PEPE), and Dogwifhat (WIF) were prominent, with WIF surging by 45% and reaching a new all-time high of $3.45. Elsewhere, a token based on U.S. President Joe Biden surged by 830% on Wednesday morning on over $23 million worth of trading volume. Several other meme coins based on celebrities and politicians have also been issued on Solana.

However, the recent surge in Solana network activity has also attracted malicious actors. Security firm BlockAid reported cryptocurrency scams two months ago targeting Solana users through wallet drainer attacks. 


A New Era

This emerging trend coincides with meme coin speculators openly embracing a risky new wave of cartoonish tokens based on notable politicians and celebrities this week, with Solana-issued meme coins leading the market following a volatile trading session on Tuesday.

DOGA is anticipated to surge as the project prepares to announce the listing of its token on a top 5 centralized exchange (CEX) in March, according to sources familiar with the matter as reported by Crypto Intelligence on Friday. This is one of several dog-themed tokens, such as Shiba Inu and Dogecoin, but it holds considerable upside potential due to its modest market cap of just $5.2 million.

Additionally, other memecoins such as SHIB and PEPE have recently witnessed large whales sell their tokens on various centralized cryptocurrency exchanges to capitalize on their gains, with one whale making over $6 million by depositing more than 200 SHIB on and Gemini.

March 15,2024

Gensler Being Pressured To Not Accept Any More Cryptocurrency ETFs

Two United States Senators are urging Gary Gensler to halt any further approval of crypto exchange-traded funds (ETFs), citing significant risks to retail investors. In a letter dated March 11th, Democratic Senators Jack Reed and Laphonza Butler argued that allowing additional crypto ETF approvals by the Securities and Exchange Commission (SEC) would expose investors to markets characterized by low trading volumes and susceptible to fraudulent activities and manipulation.


Addressing Potential Dangers

Currently, the SEC has eight pending applications for spot Ether ETFs, with hopes that other alternative cryptocurrencies might follow suit in the future. The senators emphasized the potential dangers faced by retail investors in ETFs referencing cryptocurrencies with limited trading activity or vulnerable to fraudulent schemes like pump-and-dump.

Reed and Butler emphasized the need for increased oversight on Bitcoin ETFs and cautioned against using the recent approval of spot Bitcoin ETFs as a precedent for further approvals. Despite acknowledging the susceptibility of Bitcoin to fraud and manipulation, they argued that markets for smaller cryptocurrencies were even more prone to misconduct.


More Regulation

The senators urged the SEC to implement specific measures concerning the already approved Bitcoin ETFs, including subjecting brokers and advisors to enhanced regulatory scrutiny. Alexander Grieve, government relations lead at Paradigm, noted that the success of spot Bitcoin ETFs had stirred controversy within Capitol Hill.

This political pressure on Gensler could diminish the likelihood of an Ether ETF approval in May, according to industry analysts. The aforementioned letter reflects growing scrutiny and legislative efforts targeting cryptocurrencies in the US, with both Reed and Butler previously involved in bills aiming to regulate digital assets and decentralized finance.


March 15,2024

Metaverse Battle Royale Game Announced By Ready Player One Creator

Earlier this year, Readyverse Studios, a collaboration between blockchain tech company Futureverse and Ernest Cline, the creative mind behind the sci-fi franchise Ready Player One, unveiled The Readyverse, an interactive platform for metaverse games and experiences.

Readyverse Studios teamed up with Warner Bros. Discovery (WBD) to bring the popular novel to the metaverse through Web3 technology. WBD was responsible for distributing the 2018 film adaptation directed by Stephen Spielberg. The studio recently unveiled its inaugural project set to debut soon within The Readyverse.

This will be a third-person battle royale experience where players engage in game-show-style, multi-round collaborative modes employing various gaming techniques like shooting, tactical positioning, and driving. The founders of Readyverse Studios introduced Open in a trailer during the South by Southwest (SXSW) festival.


The Context

The new experience includes a Ready Player One biome, providing players with opportunities to explore environments, obtain skins inspired by the novel, and compete against each other. Additionally, Open features other biomes showcasing recognizable characters via iconic intellectual properties. In the trailer, viewers witness Ready Player One protagonist Wade Watts (also known as Parzival) navigating past nostalgic items such as a DeLorean car and vintage television and video game consoles.

Ready Player One is set in 2045, depicting a world on the brink of collapse. To escape, most people immerse themselves in a virtual reality simulation called the OASIS. When the creator of the simulation dies, users are informed that whoever finds a digital Easter Egg first will inherit ownership of the OASIS. Watts, a teenage orphan and avid player, joins the contest, pitted against corporate employees seeking to control and monetize the OASIS with intrusive online advertising.


Working With Web3 Technology

Readyverse Studios describes Open as the first AAA quality metaverse experience interoperable with AAA IP, leveraging Web3 technology. It is named after the principles that The Readyverse embraces, including asset interoperability, digital ownership, decentralization, and security. Much of this technology stems via Futureverse, a platform comprising 11 companies which includes gaming studios and blockchain startups.

Development of Open involved collaboration with Walker Labs, a developer specializing in video games and next-gen web technology. Walker Labs previously released Walker World, an open-world multiplayer shooter and adventure game in 2022. Open is currently in development for PC, and interested players can register for early access.


March 14,2024

Popular Ethereum NFT Collection Will Be Getting A Movie

Reactor Motors, the Ethereum NFT collection showcasing 8,888 images of luxury racing cars, is reportedly set to be adapted into a film. Heading the Reactor Motors movie will be experienced director Pierre Morel, known for his work on films like Taken and Transporter 2.

The narrative of the Reactor Motors film revolves around Geophysicist Eva Mason and the discovery of Reykium in an Icelandic volcano, which leads to the development of clean energy race cars. The breakthrough attracts the interest of an energy conglomerate determined to obtain Reykium by any means necessary.


A Novel Idea

Morel and his business partner were drawn to the lore surrounding Reactor Motors, prompting the collaboration. Racing is universally appealing as it transcends borders, stated Reactor Motors creator and Abstract Entertainment Co-Founder Mike Bundlie, before further claiming that ideas should have broad appeal rather than being culturally specific.

Mike went on to say that the aim with Reactor was to merge the comic book, racing, tech, and gaming communities. Reactor Motors was unveiled initially as a comic book and later as a game. Joining Bundlie in the creation of the Reactor Motors movie is Louis Leterrier, known for directing The Incredible Hulk (2008), Now You See Me, and Fast X.


Revitalizing NFTs

Bundlie anticipates a cast reveal later this year and has already obtained financial backing for the project. He also noted that while Reactor Motors will be a high-budget independent film, it would not be a gigantic financial strain. While a blockbuster success would of course be welcome, Bundlie emphasized the primary objective of revitalizing the NFT marketplace in addition to adapting new intellectual properties for the screen.

NFTs do not have to remain confined to the crypto world, he emphasized. He also said that at their core, NFTs are a form of art and should have the potential to become intellectual property themselves, and that there is absolutely no reason why a movie has to be exclusively based on a comic book or novel.

Interestingly, this is not the first time a reputable director has gotten involved with Ethereum, as veteran director Ridley Scott, known for the immensely popular and era-defining Alien movies, previously expressed his interest in making a movie about Vitalik Buterin.


March 14,2024

Changpeng Zhao Ordered To Surrender Passport As Sentencing Deadline Approaches

U.S. District Judge Richard A. Jones has adjusted the bond conditions for Changpeng Zhao (CZ), the founder of cryptocurrency exchange Binance, subsequent to his November admission of guilt for breaching U.S. anti-money laundering laws. Zhao now faces a potential sentence of up to 18 months in prison, with the sentencing scheduled for April.


On Lockdown

The recent directive by Judge Jones mandates that Zhao must notify the Court Pretrial Services of any domestic travel and is not allowed to leave the nation before his sentencing. Moreover, Zhao is obliged to relinquish his Canadian passport to a designated third-party custodian, appointed by his legal team. This custodian is also tasked with accompanying Zhao on trips requiring identification.

Zhao must deliver all current or expired passports to his attorneys and is not allowed to procure new passports or travel documents without court authorization. These measures are implemented to ensure Zhao remains under the legal jurisdiction of the United States, given the absence of an extradition agreement with the United Arab Emirates, where Zhao intended to return, and where his family primarily resides.


Deadline Inches Closer

This legal proceeding comes in the wake of actions initiated by several U.S. government agencies against both Binance and Zhao himself. In response to these developments, Zhao reached a plea agreement with the United States Department of Justice and stepped down as CEO of Binance.

As part of the settlement, Binance is anticipated to incur a significant penalty. The revised bond conditions reflect the ongoing endeavors to guarantee that Zhao will adhere to U.S. legal proceedings as the sentencing date draws near. The criminal sentencing of the Binance founder was postponed to April 30th, according to a notice by a Seattle federal court.


March 13,2024

Coinbase Plans To Acquire $1 Billion Through Convertible Notes

Coinbase intends to secure $1 billion via senior convertible notes to generate funds for debt repayment and unspecified corporate needs. The senior convertible notes, characterized as a debt instrument that holds the potential for later conversion into equity, will be exclusively offered to eligible institutional buyers.


The Importance Of The Notes

The decision by Coinbase to raise $1 billion through senior convertible notes was disclosed in an 8-K filing submitted to the United States Securities and Exchange Commission (SEC). These notes are granted seniority over common stock, providing holders with priority in case of bankruptcy or liquidation. They will accrue interest biannually and have the flexibility to be converted into cash, Coinbase shares, or a combination of both.

Coinbase has outlined its intention to utilize the proceeds to retire its existing convertible senior notes maturing in 2026, 2028, and 2031. The interests on these notes range up to 3.625%. Furthermore, the funds raised will be allocated for general corporate purposes, including working capital, capital expenditures, and covering the expenses associated with capped call transactions.


Coinbase Is Not The Only One

According to a blog post dated March 12th, Coinbase specified that the notes must be settled by April 1st, 2030, unless they are redeemed, repurchased, or converted earlier. The decision to pursue this financing option underscores a strategic maneuver by Coinbase to capitalize on market confidence, evident in its elevated share price, which recently reached a level not seen in over two years.

Earlier this week, MicroStrategy, the prominent corporate holder of Bitcoin (BTC), concluded an $800 million convertible note offering, utilizing the proceeds to augment its Bitcoin treasury reserve. Coinbase stock remained relatively unchanged on March 12th, registering a modest gain of around 0.8% and closing at $256. However, in after-hours trading following the announcement of the note offering, it experienced a decline of 2.3% to approximately $250.


March 13,2024

Tether Partners Up With Celo To Expand USDT Stablecoin

Tether has revealed the introduction of its USDT stablecoin on the Celo blockchain, a move aimed at broadening financial inclusion and empowering individuals globally. According to the announcement, the emphasis Celo puts on mobile-first strategies and its compatibility with the Ethereum Virtual Machine (EVM) render it an ideal platform for Tether.

A proposal by Celo core contributors at cLabs proposes the utilization of USDT as a gas currency to streamline transactions and enhance efficiency within the network. This is anticipated to offer numerous advantages, including remarkably low transaction fees of approximately $0.001, thereby enabling microtransactions for users irrespective of their economic standing or geographical location. 


A Notable Collaboration

Tether CEO Paolo Ardoino expressed renewed enthusiasm when it came to providing accessible and dependable digital currency solutions globally. He highlighted that integrating USDT onto the Celo platform, designed for real-world usage, indicates a significant stride in their mission. Leveraging the distinctive capabilities of Celo will further enhance the usability and accessibility of Tether for millions of individuals.

This move renders USDT accessible across the entirety of Celo. USDT will therefore join a diverse array of stable assets on Celo, such as eXOF and cREAL, linked to the CFA Franc and the Brazilian Real, respectively. This widens the potential applications for stable assets on the platform, encompassing remittances, savings, lending, and peer-to-peer (P2P) and cross-border payments.


Enhancing The User Experience

Celo has features like SocialConnect and FiatConnect which will further enhance the user experience, simplifying transactions with USDT. The option to pay for gas with ERC-20 tokens, including stable assets, will deliver a seamless payment experience. Rene Reinsberg, Celo Co-Founder and Celo Foundation President, talked about welcoming Tether USDT to the Celo ecosystem, which is rapidly emerging as a leader in stablecoins and real-world assets (RWAs).

Rene highlighted how this integration aligns with their mission to create a digital economy conducive to prosperity for all. With Tether USDT soon to be available on Celo, users will have even more options for fast, cost-effective payments and access to robust stablecoin use cases benefiting users worldwide. As a result of the announcement, CELO recently experienced a price surge.

March 12,2024

Cardano Will Be Utilized By Dubai Police For Criminal Investigations

The Dubai Police Department has introduced an innovative pilot initiative utilizing the Cardano (ADA) blockchain to safeguard the security and authenticity of sensitive data related to criminal investigations. This announcement took place during the esteemed World Police Summit in Dubai, highlighting the dedication of the UAE to incorporating advanced technologies into its law enforcement endeavors.


Adopting The Cardano Blockchain

Insights into the mechanics and objectives of the project were provided by Alexander E. Brunner, Principal of Brunner Digital and President of, who shared details via a recent post. This initiative will demonstrate how sensitive data by criminal investigations can be securely shared with authorities like Interpol, he added, before further clarifying the practical application of this technology.

Alexander stated that, specifically, bullet scans conducted by a highly advanced scanner are shared among international stakeholders on the Cardano blockchain. The blockchain guarantees that the data remains unaltered and traceable among various stakeholders, he concluded.

Highlighting the wider implications of blockchain integration, Brunner stressed that ensuring secure sharing and management of data in a decentralized network of stakeholders is increasingly important across industries such as energy, defense, and IoT, and that blockchain technology can serve as a facilitator for this.


A Groundbreaking Development

Chris O, founder of the ADA Ghost Fund and co-host of Investing Broz on Discord, also commented on this development via X. He emphasized the significance of the project for the Cardano community and the broader blockchain arena.

The United Arab Emirates is employing Cardano for securing its criminal investigations, exclaimed Chris O. He provided details on some key operations, which include the aforementioned bullet scans which are conducted by a highly advanced scanner. The blockchain ensures data integrity and traceability among stakeholders, he added.

The Dubai Police deciding to utilize the Cardano blockchain for sharing criminal investigation data signifies a groundbreaking advancement toward broader blockchain adoption in crucial sectors. By guaranteeing the integrity and security of investigative data, this project not only demonstrates the practical usefulness of blockchain technology but also establishes a precedent for its application in global law enforcement activities.

Details regarding the duration of the pilot phase and the subsequent steps toward operational implementation remain undisclosed at present.