The Caribbean nation of Dominica has entered into an agreement with Blockchain operating system TRON to adopt Blockchain technology. This follows the adoption of the Virtual Asset Business legislation in May 2022.
“This is a historic step for Dominica in its efforts to boost economic growth by embracing digital innovation and appointing the TRON protocol as its designated national blockchain infrastructure. The TRON protocol is one of the leading global blockchain platforms, known for its efficient and cost-effective crypto settlement system ,” the Dominica Prime Minister’s Office said in an official announcement.
TRON has received the Dominican government’s approval to issue Dominica Coin (“DMC”), a Blockchain-based fan token to help promote Dominica’s global fanfare for its natural heritage and tourist attractions.
“Dominica is committed to building a more inclusive and diversified economy using new technologies. The open and cost-effective nature of the TRON Blockchain infrastructure will play an important role in better integrating small island developing states like Dominica into the global economy in the future,” said Dominican Prime Minister Roosevelt Skerrit.
Google Cloud accepts cryptos
Internet giant Google announced on October 12, 2022 that it will begin accepting cryptocurrency payments for cloud services early next year.
This year’s Cloud Next, where Google presents its pioneering cloud computing division (which generates over a tenth of its revenue) to businesses, saw the announcement of the deal, CNBC reported.
According to Google Cloud vice president and general manager Amit Zavery, the company will begin accepting cryptocurrency payments from a “handful” of customers through integration with Coinbase Commerce, a business payments 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 following an administrative blunder in Bulgaria are facing trial in Australia over allegations 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, appeared in the Melbourne Magistrates’ Court on Tuesday. According to the Brisbane Times, the company, crypto.com, was supposed to pay $100 back to Manivel’s Australian bank account in May 2021, but mistakenly deposited $10.4 million into it. This information was provided to the court.
A financial audit in Hong Kong revealed the error, and it was not until December 2021 that the company learned of the erroneous payment. Later, investigations revealed that an employee in Bulgaria had mistakenly entered $10.4 million into an Excel spreadsheet.
Earlier, Manivel, a Malaysian national, was apprehended at Melbourne Airport in March with a one-way ticket to the Southeast Asian nation and $11,000 in 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 of Solapur in Maharashtra have reportedly lost Rs 45 lakh after investing through a cryptocurrency cloud mining app.
Cloud mining is a method of mining cryptocurrencies, such as Bitcoin, without having to install and manually run the necessary hardware and software. Instead, cloud computing 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 asked 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 on the pretext of offering huge returns,” Superintendent of Police Udaysinh Patil told PTI.
