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RIF BTC-ETH Bridge to Open DeFi Products to The BTC Community

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The RIF BTC-ETH bridge was developed by the RSK team and it serves as an interoperability bridge that locks the original token such as DAI on the Ethereum blockchain while minting an ERC777 ‘side token’ that can move freely on the RSK network.

The RSK Infrastructure Framework (RIF) development team has launched the DAI stablecoin coin through the BTC-ETH bridge dubbed the RSK-Ethereum token bridge. According to a press release issued by the RSK Network, one of the most secure smart contract platforms in the world, the RIF BTC–ETH bridge will help bring more Decentralized Finance (DeFi) products to the entirety of the Bitcoin (BTC) community.

RSK’s platform and infrastructures which are partly designed to leverage Bitcoin’s unparalleled hash power via merge-mining while extending its capabilities have necessitated the move to expand its offering with the MakerDao-backed DAI tokens.

As the company noted in the official release, the move to bring ‘the tools and assets that power decentralized finance to a Bitcoin environment, MakerDAO and RSK, together with the RIF token community, can fuel the growing demand for DeFi assets and applications without being hampered by Ethereum’s high fees. DAI on RSK will bring the crypto-collateralized stablecoin to a scalable smart contract network while maintaining a connection with Ethereum and its valuable community of users and developers’.

The integration is like a win-win situation for both Bitcoin (BTC) and Ethereum (ETH) lovers, a bridge most ambitious blockchain startups have been trying to perfect as the DeFi craze surges on.

“RIF integrating DAI creates a new world of opportunity for the Bitcoin community to participate in DeFi,” said Rune Christensen, Co-founder of MakerDAO and CEO of the Maker Foundation.

While the claim by Rune holds true, it is true that with the ethereum backed DeFi finding its way into the bitcoin network, the entire concept of decentralized finance will be more achievable. Diego Gutierrez Zaldivar, IOVlabs CEO, and co-founder, said:

“The DAI integration is another key step towards Bitcoin DeFi’s adoption. We are confident the growth of the Bitcoin ecosystem and its DeFi opportunities has only just begun, with much more to come.”

Fundamentals of the RIF BTC-ETH Bridge

The RIF BTC-ETH bridge was developed by the RSK team and it serves as an interoperability bridge that locks the original token such as DAI on the Ethereum blockchain while minting an ERC777 ‘side token’ that can move freely on the RSK network. An outright integration of any DeFi backed token such as the DAI will enable users to be able to send microtransactions and interact with smart contracts for services such notable decentralized finance services such as staking and lending.

While RSK noted that other BTC-bridging DApps have already integrated the DAI stablecoin, it is set to offer such scalability that will give it the necessary competitive edge. The integration of DAI thus further proves that the interoperability capabilities of blockchain technology can be harnessed to serve all cryptocurrency and blockchain enthusiasts around the world.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Ensuring Greener Future with Blockchain and Crypto Tech

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The SWS (SmartWorld Security) token is an Ethereum-based token that helps make the SmartWorld program a reality.

We as a human race have progressed significantly in the past few centuries. We went from gas lights to LED bulbs, from telegrams to sophisticated smartphones, from horses to cars, and from small villages to smart cities.

All this technological development has made life easier for us, made distances seem short, and helped us connect with people across the globe. But, we failed to realize that this development was coming with a high cost. It cost us our relationship with mother nature.

We were so caught up with the idea of progress that we damaged nature to a point where our future as a civilization is endangered. The problems of global warming and climate change have become profound in the recent past, and if not controlled, they can threaten our existence. So, what do we do? Do we stop progressing altogether?

Well, no. We need to develop better, smarter technologies that help us exist in harmony with nature.

Offering Greener Alternatives to Major Industries

When we think of a smart world, we think of flying cars, high-tech robots, and other futuristic technologies. But, our world can only become truly smart when we find innovative ways of improving our quality of life while coexisting with nature. This is exactly what initiatives like the SmartWorld program aim to achieve.

The SmartWorld program is a blockchain and crypto-enabled initiative that supports unique projects providing greener alternatives to major industries like transport, infrastructure, energy, and fertile soil. It aims to solve the climate crisis and other related problems by reconnecting man with nature with the help of innovative technologies.

Transportation is the first and foremost stage of the SmartWorld program, which is being developed today. With the help of Unitsky String Transport, it provides an entirely new way of transporting people and cargo. The string rail with included communication channels and suspended vehicles located above the ground, can autonomously transport passengers and cargo at a speed of 500 km/hr. In the future, passengers will be able to travel at 1200 km/h.

The United Arab Emirates is a priority market for the implementation of this String Rail. In 2019, Unitsky String Transport was proposed as a potential solution for developing the Dubai infrastructure. The project provides the construction of a “second-level” urban transport system with a total length of 15 km with 21 stations in Dubai that will connect Business Bay, Downtown Dubai, and Dubai International Financial Center (DIFC). This is in accordance with the UAE Dubai Smart City’ goal to automate 25% of the transport in the country by 2030. Once successfully implemented in the UAE, Unitsky String Technologies will be able to further the development of the string rail across the globe.

The entire project has a minimal carbon footprint and could also be a solution to the growing traffic problem in urban cities. Because it is located above the ground, the string transport system can pass through all terrains without limitations.

The SmartWorld program has created an ecological project that aims to maintain soil fertility by using microbiological fertilizers. Additionally, the program also aims to create a comprehensive clean energy infrastructure that can provide for all our energy needs.

Lastly, the SmartWorld program also supports a plethora of infrastructure and architectural projects that preserve natural habitats, flora, and fauna while utilizing as little space as possible. It also aims to develop residential areas elevated above the ground such that we can utilize the ground level for developing natural habitats.

Initiatives like these focus on the development of technologies that ensure the progress of humanity while protecting nature and not at its expense. They have the power to change the ways of our world for the better. But they lack the support and backing of the masses.

This is where blockchain technology comes into the picture.

Blockchain Backing for Green Technologies

Blockchain technology is the talk of the town right now. It has the power to garner public interest by not only creating transparency and security but also incentivizing the public for their participation. This is why it is essential that green technology initiatives like the SmartWorld program are backed by a blockchain-based security token.

The SWS (SmartWorld Security) token is an Ethereum-based token that helps make the SmartWorld program a reality. With the use of some of the most advanced protocols in blockchain technology, the token facilitates transfers, optimizes costs, and acts as a backbone for the entire project. The sophisticated KYC and AML procedures for STOs (Security Token Offerings) enhance security and reduce third-party involvement.

Anyone who holds the SWS token becomes a limited partner in SWS General LP. The token will soon be listed on the STO exchanges, and once that’s done, users will be able to freely buy, sell, and trade the token and benefit from its growth. This token could be the base around which the entire project is realized, taking humanity a step closer to a green future.

Conclusion

We’re all aware of climate change and the threats it poses to humanity. If we keep developing technology at the expense of nature, we might one day see clean air becoming a luxury. To make sure that does not happen, we do not only need the involvement and investment of corporations but also individuals. That’s what makes SmartWorld a promising initiative toward a more sustainable future – it enables corporations and individuals to collaboratively contribute toward developing technologies that can offer them a better future.

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How Blockchain Technology Is Changing Media Content Industry

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A media industry based on the blockchain industry will mean more autonomy for content creators to create content as they like without restrictions from intermediaries who control the market.

It’s no longer news that blockchain technology is disrupting the way most traditional businesses are run even as it keeps creating a massive impact on the global economy. It has given rise to new, productive, and efficient business models that are cost-efficient, more profitable, and more beneficial for consumers. 

Industries such as; financial services, healthcare, insurance, real estate, utilities, tech, and media are already taking advantage of the numerous benefits blockchain technology offers.

Talking about the media content industry; a good number of companies are currently taking advantage of this emerging technology to improve on many areas of incompetencies that plague the industry. One of such projects is the MILC platform, which was initiated by Welt der Wunder TV, a Germany-based well-known brand and media company. 

Often touted as a one-of-a-kind project, the MILC platform aims to reshape the global media industry by creating a marketplace where content creators and consumers can have unrestricted access to resources that would enable them to create, share, sell and license media content. But they are not alone. 

There is the Steemit project, a decentralized social media platform with over 1 million users. These users are rewarded for creating and sharing content, and for interacting with other users on the platform. 

Considering the many blockchain projects launched in the media industry, it’s clear that the industry is set to drift away from the status quo. One can only imagine what number of blockchain-based solutions are currently waiting to unfurl in the coming years. 

However, it appears the MILC platform is doing something significantly different from these other projects. 

What MILC Brings to the Industry

This platform bridges the gap between the audience and content creators, buyers, and distributors so that the audience can easily access quality content. The information available on the web suggests the platform also tackles the high costs of content production and licensing so that content creators can easily create content without much hassle. 

All of this is expected to reduce third-party intrusion in content production and distribution. As Hendrik Hey, MILC’s CEO likes to put it: “We like to do something good for our industry; create a bridge that connects the people and the creators and licensors. This is something that has never before been done”. Beyond these though, the MILC platform issues the Media Licensing Token (MLT); its native token that serves as a medium of payment for content, licenses, etc. 

But what many users seem to love the most is that MLT will be given to users as rewards for engagement on the platform. Now, these engagements could range from community voting to content evaluation. The company says users who hold these reward tokens can earn interest on their rewards via the upcoming staking programs on the platform. 

How MUZIKA Add to the Revolution

MUZIKA in its own way is also committed to tackling the many inefficient conventional methods in the media industry and replacing them with modernistic solutions. They are interested in digitizing the music industry with their main focus being Korean music. 

This project is spearheaded by Mapiacompany, a Seoul-based global music company known to have a strong collaboration with Binance. The goal of this project is to make music production more profitable for independent music creators. To do this, they figured out a system that allows independent artists to earn money directly from their listeners.

It is expected that this will help both veteran and indie musicians of the Korean extraction earn good money for their efforts. Perhaps, they could potentially easily connect with mentors and any brand or individual that would make for a decent collaboration.  

Final Thoughts

First of all, blockchain technology in the media industry would lead to more transparency and inclusivity in the industry. Decentralization is a major pillar of blockchain technology and with this, content creators and the audience can be active participants in creating and distributing content.

Furthermore, a media industry based on the blockchain industry will mean more autonomy for content creators to create content as they like without restrictions from intermediaries who control the market. It would also mean easy access to content licensing. 

Above all, it would also herald an end to the restrictions posed by geographical barriers as is common with conventional media content distribution. It all looks promising and the press will sure keep an eye on this silent revolution.

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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



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Rarible Raises $14.2M in Series A Funding for New NFT Marketplace

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From a trading volume of $28K in June last year, Rarible has seen mammoth growth of over 3000 times to reach $150M total sales.

Non-fungible token (NFT) site Rarible is set to launch a marketplace on the Flow blockchain network. With a successful funding round that brought in $14 2M, “Rarible is determined to pioneer the next wave,” CEO Alexei Falin said in a statement according to CoinDesk.

The Ethereum-based site that focuses on the creation and trading of NFTs, will use this capital injection to expand its team and further develop its digital platform. It is also set to launch another marketplace. The new marketplace will run on the Flow blockchain, the network that houses Dapper Labs’ NBA Top Shot.

In a Medium post, Rarible commented on its collaboration with Flow:

“To mark this next phase, we are also proud to enter an official partnership with Flow. Dapper Labs has an impressive track record of bringing NFTs mainstream by creating native experiences for non-crypto audiences. As a blockchain, Flow enables easier access and lowers the entry barrier for traditional consumers and brands, which makes it a perfect partner on our journey to the wider adoption […] In the coming couple of months, we will be bringing Rarible on Flow as a primary and secondary marketplace, also welcoming the robust ecosystem of projects built on Flow blockchain.”

The Series A funding round was led by New York-based blockchain venture firm CoinFund and the Rockefeller family’s venture capital firm Venrock with support from venture firm 01 Advisors.

From a trading volume of $28K in June last year, Rarible has seen mammoth growth of over 3000 times to reach $150M total sales. This has largely been due to the NFT craze that begun to gain momentum at the start of this year. In February, the firm raised $1.75M in a seed round that was led by crypto fund 1kx with support from ParaFi Capital, Coinbase Ventures, Bollinger Investment Group, MetaCartel Ventures and early investor CoinFund. Funds from this round went towards expanding Rarible’s marketplace to incorporate a new governance structure.

The Medium post also went on to reveal that Rarible has “a lot” coming in future months, including the launch of its NFT protocol, an L2 solution, credit card payments and drops. One such project, already underway, is its very first partnership with NFT creator S!NG and will enable users to mint and sell their NFTs at no cost.

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Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student.
She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.





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