Blockchain
Rice-based stable coin is being launched in Indonesia
Penjaga Lilin Nusantara, an Indonesian Cooperative in Malang- East Java is setting up Ricetron.com a Tron based DeFi (decentralized finance) to tokenized rice based stable coin. Ricetron aims to invite crypto enthusiasts to stake Tron and mint RET (Rice Economy Token), a governance token that will fund RIC (Rice Inventory Coin) stable coin.
RET token holder will benefit from 30% of all transaction fee and profit sharing of RIC DeFi, where once the DeFi platform running will be distributed back as Protégé Dividend to RET token holder wallets.
Total supply is 269,000 RET with only 190,000 RET minted through staking. It is TRC-20 token, using a TRX blockchain where the speed and the fee of transaction are much better compared to ERC based token.
Indonesia uses BULOG (state owned logistic agency) to stabilize staple price, which mostly focuses on rice. Due to lack of data reading skills, BULOG wastes 30,000 ton decayed rice every year, that amounts to almost 30 Million USD/year of Indonesian government budget.
https://www.youtube.com/watch?v=uM0hoA90T1A&t=6s
“The whole idea came from our meeting with a cooperative chairman named Mr. Steven Henry Raharjo. His cooperative has a rice savings program where with this program, he is able to make price stability for its members. Besides that, rice savers can also get additional rice at the end of the year as well as give zakat and sadaqah (donations) to those around them who need it without having to spend any more money,” says Mr. Victorinus Widyanto, COO of Ricetron.
Thus, the cooperative came up with idea to tokenized premium grade Rice and also taking advantage of the recent cryptocurrency bull run. By creating rice based stable coin, it gives people more access to rice especially BULOG rice. In addition, RIC can also be converted to DeFi savings and collateral, and it guarantees RIC holders to fresh rice at the time of exchange, since it is backed by BULOG’s purchase order (voucher) with no time expiration. 1 RIC cryptocurrency equals to 1Kg of premium grade rice, with more Rice-based stable coins will be launched in the future with different grade.
This project also benefits BULOG in creating consumers-based data, optimizing the agency rice procurement and the most important thing reducing annual government budget loss.
“Meanwhile RET will also be used as an anchor token for cooperative future projects. So people can participate to fund future projects by staking RET,” says Eka Suwandana, CTO of Ricetron.
Ricetron started the staking program on 15th of January 2021, it is divided in 7 rounds. They also now offering Youtube Staking Contest, where 67.6 RET in total will be given as Prize. Checkout their telegram: https://t.me/ricetron, channel for more information.
SOURCE Cooperative Penjaga Lilin Nusantara
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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