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EOS is becoming a nationwide tender for goods and services in Venezuela.
With an inflation rate of 6,500%, the Venezuelan economy needed money that would work for them. EOS proved a trustworthy solution, and the introduction of the EOS Marketplace was the catalyst.
EOS Marketplace allows shoppers to view in real-time all the businesses in the world that accept payments in EOS, with zero fees. The marketplace hosts several business categories like fast foods, car parts, pharmacies, and restaurants, smartphones, among others. Venezuelan businesses lead the platform by a long shot, with over 600 businesses accepting payments in EOS.
It’s become a perfect example of the financial disruption cryptos are capable of.
It’s just like Dan Larimer said;
“When fiat collapses #EOS will be ready for online payments while no one can afford to transfer on other networks.”
Manuel Eladio Estévez, an Ambassador and Administrator of the EOS Marketplace in Venezuela, shared his thoughts:
"EOS for us is very practical because it allows us to make an economic exchange without inflating prices or losing commissions... EOS Marketplace has been the meeting point for traders and users to use this system and currency, the project provides completely free accounts and advice for the use and exploitation of the same."
This is a huge boost to EOS, as it further proves its capacity for mass adoption as a currency. It’s worked very well, and members of the Venezuelan community believe it could get even better. On this note, Manuel said:
"Currently there are affiliates from 26 cities in Venezuela, last year at this time we had only 3 cities, this is growing exponentially, it has reached mostly small cities where merchants and users make a community more easily... We have producers of the field (21 farms), several manufacturers of handmade products and medium enterprises, most of them receive an alternative (EOS) that gives a new air to their economy... I believe it will continue to improve."
EOS is scalable, super-fast, easy to use and almost feeless. Could it become a global medium of exchange? It sure feels good that its potential is being realized to the benefit of thousands in economically challenged countries.
Citi, a multinational finance giant, has partnered with the Inter-American Development Bank (IDB) to pilot cross-border blockchain payments.
The transaction, which took place on LACChain, comprised an initial stage where US Dollars were deposited in a Citi account at the IDB Headquarters in Washington D.C. These funds were then tokenized and hosted in a digital wallet, after which they were sent to another digital wallet in the Dominican Republic. The tokens were thereafter converted into Dominican Pesos at an exchange rate set by Citi.
"Exchange rates, payment status, and fees were traceable and transparent at all times as the transaction could be checked in the LACChain Blockchain,”
There are no timelines for commercial use capabilities of this service. This project is more of a demonstration of how the IDB believes blockchain technology can better cross-border payments in development assistance and international remittances.
LACChain, the blockchain on which the transaction was carried out, runs on EOSIO technology. LACChain is a public permissioned consortium blockchain for Latin America and the Caribbean backed by the IDB, and a partner of Block.one.
With another breakthrough for the EOS blockchain on the table, could EOS really be the blockchain for banking? With a maximum live-environment capability of 3996 transactions per second, it could achieve 340 million transactions per day, which would easily trump MasterCard’s 242 million transactions and rival Visa’s 388 million. This is not yet minding the fact that the test network of the EOS Blockchain reached 9170tps, translating to almost 800 million transactions a day, which would exceed Visa and MasterCard’s numbers combined.
These impressive numbers aren’t the only factors that lend to the credibility of EOS in the banking sector, however. Google Cloud’s partnership with the EOS project for cloud solutions, the opportunity for banks to exploit digital assets while enjoying the benefits of EOS simultaneously, and Block.one’s good relationship and compliance history with the authorities all contribute to EOS staking a legitimate claim to the “blockchain for banking” title.
The new PowerUp Model has now fully replaced the old staking model on the EOS Mainnet. EOS Authority has put up a small blog post explaining the main changes, what this means for ordinary users, and the various options now available to manage your resources. These include:
If you have more questions, please visit the EOS PowerUp Model Telegram group.
TOPPS
Topps and Major League Baseball will be releasing the 2021 Topps Series 1 Baseball NFT collectables on WAX on April 20 at 1 PM ET. The tokens will be creatively reimagined digitized versions of the artwork from the previously released physical 2021 Topps Series 1 Baseball release.
The Topps Series 1 Baseball NFT release will comprise standard and premium collectable packs on sale, with card rarities ranging from Common to Legendary and even Legendary Limited-Edition 1-of-1 Platinum Anniversary cards. The launch comes on the NFT blockchain giant WAX, where the sale is also going to take place.
With each pack containing 25 cards each, it’s sure to be a hit among Baseball and NFT lovers, a real home run in fact.
BITBOY
Another solid addition launched on WAX this week in the form of Bitverse Comics by Bitboy Crypto.
Bitverse is a crypto-based digital universe with so-themed superheroes and villains jostling over the fate of Digital City. There are 168 NFTs across different 18 characters with unique equipment, mash-ups, and location cards.
The Silver pack went for $9.99 USD and has an available quantity of 6000 units, contains 10 cards; while Gold packs go for $24.99 USD, have an available quantity of 3000 units, and contain 30 cards. The packs can be collected, traded, and gifted, with the promise of additional utility in the coming months. Collectors of all 168 cards will also have a physical deck builder game mailed out to them.
RAREZ
The marriage between NFTs and the music industry is on, and it’s happening on WAX. A union between Emanate, the blockchain based music project, and NFT heavyweights, WAX, has birthed Rarez.
Rarez is an experimental new music NFT brand owned by Blockchain Music Pty Limited. This brand tokenizes scarce music and valuable merchandise from the music, bringing them into the digital realm. A popular example of NFTs hosted on Rarez is the deadmau5 NFT series launched in December 2020.
In delightful news for the digital music community, the brand is making sleek moves in the virtual media industry, the most recent of which is the announcement of its verification on Atomic Assets. The announcement tweet also included an anticipatory message for Rarez’s Gold and Silver Badges, which can be collected by enthusiasts. This will come after the introductory Black OG Badge every new member of the Rarez community gets. Sounds good? Check it out.
The online EOSIO Swiss Workshop experience is back again on April 23rd for its 8th edition. Organized by Patrick Schmid, CEO/CTO of NovaCrypto and EOS Nation Swiss Ambassador, the fantastic workshop features a star-studded speaker lineup that includes:
This workshop’s theme revolves around Governance at the Platform Level for BaaS and includes the following topics:
These workshops seek to empower developers and enthusiasts with the requisite information and exposure to maximize the opportunity dApps, EOS, and other novel innovations have brought to the world’s fingertips. EOSIO Swiss Workshop #8 is coming up next week and should not be missed!
Get in the mood by watching the workshops’ video announcement.
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EOS Nation and .gems have been working on a bunch of WAX-related activities this month and we’re happy to give you a little overview.
The Vintage Valentine series was conceived to mimic turn of the century valentine’s day cards, reflecting an era when society pretended to hide the more salacious habits of so many people during that time. On top of the physical pieces, this collection also features digital copies, published as Vintage Valentine Card NFTs on the carbon-neutral WAX blockchain.
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Chief Operating Officer (COO)
Responsibilities include: product management, operations, community
Location: Toronto, Canada
Prior to founding the first EOS community in Toronto and co-founding EOS Nation, Daniel spent a decade in the financial technology industry working several diverse roles. His extensive experience in customer service, sales, sales coaching, agent training, digital marketing, digital process management (lean green belt), and product management (certified scrum master, certified product owner) eventually lead him to consulting for a blockchain dev shop.
Daniel earned a Bachelor of Journalism from Ryerson University in 2009 and worked as a chase producer intern at Global TV.
Daniel lives by the principles of Truth, Love, and Freedom.