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- Cardano partners with zenGate to provide blockchain-based solutions.
- The partnership will help the Sir Lanka factory owners retain control.
Cardano has partnered with leading blockchain technology company zenGate Global to bring commercial solutions to the tea market in Sri Lanka. Yesterday, zenGate signed a memorandum of understanding (MoU) with the Sri Lanka Tea Factory Owners’ Association to provide the market with blockchain-based solutions.
zenGate will use its Palmyra ComDEX flagship product which focuses on tokenizing eligible commodities for trading on futures and spot markets across the world. Palmyra ComDEX creates these tokens for trading among businesses and provides a platform where all related stakeholders can easily connect.
Today was a big day for #zenGate & #PalmyraComDex
With the help of our Sri Lankan team, we signed an MOU with the Sri Lanka Tea Factory Owners’ Association
Palmyra looks to utilize #Ergo NFTs, #Cardano tech as well as #Atala to bring a robust commercial ecosystem to SL
pic.twitter.com/PFh7gKl6Uw
— zenGate Global (@ZengateGlobal) December 6, 2022
Through zenGATE, the Sri Lankan tea market will be available on the blockchain via Cardano and Ergo. Palmyra will enable tea manufacturers and marketers in Sri Lanka to access affordable enterprise-grade solutions to shore up their businesses. These solutions will also assist business people with finding and sealing leakages in their supply chains to improve their profits.
Speaking during a launch event in Sri Lanka’s capital city of Colombo, zenGATE CEO Daniel Friedman assured intending partners that the entire process would ensure that factory owners retain control. Discussing control and autonomy, Friedman said:
“The magic of the system that we build and engineer is that everybody has a say no matter where they come from or who they are, and everybody has a seat at the table and [is]able to decide the trajectory of their life and to keep the fruits of their labors.”
Palmyra will also give tea farmers access to credit through decentralized finance (DeFi). The collateralized assets tradable on the blockchain will broaden the average factory owner’s reach and also serve as collateral for credit funding. Most of all, the team market will be able to directly sell their products to customers around the globe.
Today @DanielTetsuyama appeared on the popular Sri Lankan television program “Business Today” to discuss #PalmyraComDex & zenGate’s mission to bring access to world markets though the use of tokenized commodities powered by #Ergo & #Cardano pic.twitter.com/VdBkWp8U09
— zenGate Global (@ZengateGlobal) December 7, 2022
Cardano Adoption
The partnership with zenGATE does not specify whether or not the ADA token will be involved with any transactions involving zenGATE’s Palmyra ComDEX. However, the fact that Sri Lanka has one of the world’s largest tea markets, producing a few hundred million kilograms annually, would likely help Cardano chain activity at the very least.
Considering ADA’s lowest point in 2020 compared with its highest point in 2021, the Cardano native token pumped significantly. Although it is well below its all-time high of $3.0, ADA adoption and Cardano activity could bring good tidings and see the token pick up the pace in 2023.
In other Cardano news, an official announcement states that Djed, the first algorithmic Cardano stablecoin, has been reactivated and is now available for testing. The Djed team is currently performing stress tests on the Vasil hardfork and plans for a full launch sometime in January 2023. During a recent Cardano Summit, Cardano founder Charles Hoskinson announced that blockchain ecosystem and decentralized payment solutions provider COTI will officially issue Djed.
Intel is not done yet. The company’s plan to become a big player in the semiconductor business is even more ambitious than we thought. Today’s news arrives via the WSJ, “Intel Corp. has struck an unusual $30 billion funding partnership with Brookfield Asset Management Inc.” Both companies will finance and build a new factory in Chandler, Arizona. Apparently, this is the first of many similar deals for Intel.
The company wants to build chip manufacturing capabilities fast and it’s using co-investment as a way to raise money outside of the traditional banking system. For its part, Brookfield is a Canadian asset-management firm that has “more than $750 billion in assets under management.” If this goes well, these new pools of capital will allow Intel to build factories in other places.
In this case, Intel will fund 51% of the new facility and thus have “a controlling stake in the financing vehicle that would own the new factories.” Brookfield will finance and own the rest, and both companies “will split the revenue that comes out of the factories.” The deal would be “the first of what could be a series of such arrangements Intel pursues to underpin Chief Executive Pat Gelsinger’s push to make the company a leading contract chip maker and regain its manufacturing advantage over competitors in Taiwan and South Korea.”
What Does Intel ’s Chip Business Have To Do With Bitcoin?
These chips are a crucial part of the Blockscale ASICs, Intel’s “energy efficient” bitcoin miners. In fact, before Intel, all Bitcoin miners were practically dependent on the Taiwan and South Korea factories. When the Blockscale shipped, we quoted Raja Koduri, Intel’s Architecture, Graphics and Software (IAGS) division’s senior vice president:
“Intel AXG Custom Compute team is now shipping the Blockscale ASIC! First product will always be unforgettable, congratulations team. Excited to see how Argo, Griid and Hive improvise around Blockscale and our open design.”
Before that, we quoted Intel ‘s CEO Pat Gelsinger overselling it a bit:
“Intel is about to bring forward a blockchain chip that’s dramatically better. That is orders of magnitude better in terms of power performance. So, we’re helping solve the climate issue.”
We even quoted President Joe Biden poetically describing Intel ’s other chip factory:
“If you travel 20 miles east of Columbus, Ohio, you’ll find 1,000 empty acres of land. It won’t look like much, but if you stop and look closely, you’ll see a ‘field of dreams,’ the ground on which America’s future will be built.”
BTC price chart for 08/24/2022 on Bitstamp | Source: BTC/USD on TradingView.com
There’s No Business Like The Chip Business
Back to the WSJ report, the numbers that Intel ‘s CEO is expecting for all of this hassle are astronomical:
“Mr. Geslinger and other industry officials have said they expect annual semiconductor sales to roughly double by the end of the decade—topping $1 trillion—even if short-term demand softness is weighing on chip-industry earnings.”
They are betting big, “Intel also has said it could spend as much as $100 billion each on new plant complexes in Ohio and Germany.” And they’re not the only ones, Taiwan and South Korea are also doubling down on semiconductors, and even The European Union is trying to get in on the action. In Intel ´s case, the already mentioned President Biden might have something to do with all of these investments:
“In the U.S., whose share of the chip market has fallen to about 12%, according to Boston Consulting Group, President Biden this month signed legislation allocating more than $50 billion for domestic chip manufacturing and research. Intel and other chip manufacturers lobbied heavily for the bill. The European Union is considering incentives to double its share of global chip-making to 20% by 2030.”
Is this good for bitcoin, though? Everything is good for bitcoin. Having more chip options for the new generation of bitcoin miners that’s coming down the pipeline is even more so.
Featured Image by Kevin Woblick on Unsplash | Charts by TradingView
Maverick billionaire and the CEO of SpaceX, Elon Musk, had become the butt of the jokes when he was mocked for failing to make Dogecoin the first meme coin in space on the doorstep of his Space X factory in California. DogeBonk sent the message to Elon Musk from Space reports express.co.uk.
Rival meme coin DogeBonk sends a message to Elon Musk from space
DogeBonk, through a Billboard, reminded the loudmouth and eccentric billionaire that his efforts of launching Dogecoin into space had been beaten. The Billboard has been erected outside the SpaceX factory in Hawthorne, California
The DogeBonk cryptocurrency is a relatively new coin in the cryptocurrency arena and is presently listed under the kicker DOBO. The diminutive meme coin has embarked on an ambitious media drive, and Billboards proclaiming its exploits have appeared worldwide, in Australia, Germany, India, and Dubai.
‘Sorry Elon,’ DogeBonk beats Musk’s Dogecoin mission to space
Mr. Musk has long championed DogeCoin, and his tweets are often credited with the surge in the values of the meme-based Dogecoin. Mr. Musk had long advocated that DogeCoin will herald the space age in the crypto arena. However, all his bluster has gone bust?
The Dogebonk community’s ambitions are gearing up as the billboard states: “Sorry Elon, Dogebonk is now hiring for an imminent moon mission.
Hey #SorryElon. 2nd Place is still alright @SpaceX #SpaceX #DogeBonk pic.twitter.com/ztOVhtHrzp
— Ghostbro – #SorryElon (@SomeCrypt0Guy) January 15, 2022
.”Learn more at dogebonk.com.”
One Dogebonk community member tweeted: “If ClownWorld has taught me anything about Elon Musk, it’s that DogeBonk might recruit SpaceX employees and beat Dogecoin to the moon.”
Fans of both the meme-based cryptocoin, Dogecoin, and Dogebonk, enjoy the meme coin-war that has escalated between the bitter rivals.
It is not the first time the Tesla boss had to eat his own words. In mid-December 2021, dog-faced meme coin Dogebonk beat Elon Musk to achieve the “first meme coin in space” after a successful stratospheric launch.
The Tesla boss had vowed to send a satellite into space in 2022, paid for entirely with Dogecoin.
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A billboard reminding the Tesla Boss that his efforts to make Dogecoin the first memecoin in space have failed has now been erected outside the Space X factory in Hawthorne, California. The Dogebonk cryptocurrency is relatively new in the crypto-space and is listed under the kicker, DOBO. In an all-out memetic offensive new Dogebonk banner advertisements have appeared throughout the world, in Australia, Germany, India, and also in Dubai.
However, the latest advert strikes at the heart of rival Dogecoin’s main proponent, Mr Musk, who is renowned for championing DOGE.
The Dogebonk community’s ambitions are gearing up as the billboard states: “Sorry Elon, Dogebonk is now hiring for an imminent moon mission.
“Learn more at dogebonk.com.”
One Dogebonk community member tweeted: “If ClownWorld has taught me anything Elon Musk, it’s that DogeBonk might actually recruit Space X employees and beat Dogecoin to the moon.”
The Dogebonk community have paid top dollar and gained access to a billboard placed outside the Space X factory.
Speaking to Express.co.uk, one of the developers of Dogebonk said: “Last month, we beat Elon Musks Doge-1 mission by sending DogeBonk inside a Ledger to space in a weather balloon.
“Making it the first memecoin in space.
“We know that Elon likes to win so we thought we would once again say ‘Sorry Elon’ outside the Hawthorne Factory.
“This was so he and everyone at SpaceX knows that 2nd place is still good.”
Dongbonk is currently priced $0.000000077976 (£0.000000057976), up 7.0 percent in the last 24 hours.
Dogecoin is priced $0.188126 (£0.14), up 0.1 percent on the day.