The Caribbean nation of Dominica has entered into an agreement with Blockchain operating system TRON to adopt Blockchain technology. This follows the passage of the Virtual Asset Business legislation in May, 2022.
“This is a historic step for Dominica in its drive to enhance economic growth by embracing digital innovation and appointing TRON Protocol as its designated national blockchain infrastructure. TRON Protocol is one of the leading global blockchain platforms, known for its efficient and cost-effective crypto settlement system,” the Prime Minister’s Office of Dominica said in an official announcement.
TRON has obtained the Dominican government’s endorsement to issue Dominica Coin (“DMC”), a Blockchain-based fan token to help promote Dominica’s global fanfare for its natural heritage and tourism attractions.
“Dominica is committed to building a more inclusive and diversified economy with the help of new technologies. The open and cost-effective nature of the TRON Blockchain infrastructure will play a vital role to better integrate Small Island Developing States like Dominica into the global economy in the future,” said Dominican Prime Minister Roosevelt Skerrit.
Google Cloud To Accept Cryptos
Internet giant Google announced on October 12, 2022 that it will start accepting cryptocurrency payments for cloud services early next year.
This year’s Cloud Next, where Google pitches its cutting-edge cloud computing division (which generates over a tenth of its income) to businesses, saw the announcement of the agreement, CNBC reported.
According to Google Cloud vice president and general manager, Amit Zavery, the company will start accepting cryptocurrency payments from a “handful” of customers through integration with Coinbase Commerce, a business payment platform.
Indian-Origin Man Faces Trial in Australia
An Indian-origin man and his Malaysian partner who accidentally received $10.4 million from a cryptocurrency company after an administrative blunder in Bulgaria are being tried in Australia on charges that they spent the money on items, including houses worth $1.2 million, according to a media report on Tuesday.
Thevamanogari Manivel, 40, and Jatinder Singh, 37, made an appearance at Melbourne Magistrates’ Court on Tuesday. According to the Brisbane Times, the corporation, crypto.com, was to pay $100 back into Manivel’s Australian bank account in May 2021, but wrongly deposited $10.4 million into it. This information was provided to the court.
A financial audit in Hong Kong revealed the error, and it wasn’t until December 2021 that the corporation learned about the incorrect payment. Investigations later revealed that an employee in Bulgaria had entered $10.4 million in error into an Excel spreadsheet.
Earlier, Manivel, a Malaysian national, was apprehended at Melbourne Airport in March with a one-way ticket to the South-East Asian nation and $11,000 cash. Singh, who had an account with crypto.com, told police he thought he had won the money from the business, according to the report.
People Lose Money In Crypto Cloud Mining
As many as 31 residents in Solapur in Maharashtra allegedly lost Rs 45 lakh after investing through a cryptocurrency cloud mining app.
Cloud mining is a method for mining cryptocurrencies, such as Bitcoin, without having to instal and manually run the necessary hardware and software. Instead, cloud computer power is rented.
“The investors were asked to download the CCH Cloud Miner App and the crypto trading app. They were asked to convert their Indian currency into dollars using the crypto trading app and were made to invest in the CCH Cloud Miner App,” a police official told PTI on Tuesday.
“We have registered a case against three persons who had lured people to download the app and invest money under the pretext of offering hefty returns,” Police Inspector Udaysinh Patil told PTI.