{"id":17150,"date":"2023-07-25T13:39:01","date_gmt":"2023-07-25T17:39:01","guid":{"rendered":"https:\/\/demo2.dedicatedhost247.com\/crypto\/asia-express-cointelegraph-magazine-24\/"},"modified":"2023-07-25T13:39:01","modified_gmt":"2023-07-25T17:39:01","slug":"asia-express-cointelegraph-magazine-24","status":"publish","type":"post","link":"https:\/\/demo2.dedicatedhost247.com\/crypto\/asia-express-cointelegraph-magazine-24\/","title":{"rendered":"Asia Express \u2013 Cointelegraph Magazine"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<h2 id=\"h-chinese-blockchain-sputnik-s-maiden-voyage\">Chinese blockchain Sputnik\u2019s maiden voyage<\/h2>\n<p>A Chinese satellite has become the first in the world to carry a blockchain imaging and screening system into orbit.\u00a0<\/p>\n<p>According to local news outlet Red Star News on July 22, the Tai\u2019an Star Era 16 was successfully <a href=\"https:\/\/baijiahao.baidu.com\/s?id=1772136612439127385&amp;wfr=spider&amp;for=pc\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">launched<\/a> into orbit from the China Jiuquan Satellite Launch Center. Developed by NationStar Aerospace Technology Co., the satellite features a visual blockchain on-orbit certificate storage system dubbed \u2018ADAChain\u2019 (not related to Cardano) developed in-house by NationStar. Researchers wrote:\u00a0<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThe [ADAChain] can realize functions such on-orbit visual blockchain multi-signature authentication, on-orbit video visual broadcasting, and on-orbit visual remote sensing data storage certificate confirmation.\u201d<\/p>\n<\/blockquote>\n<p>The purpose of the satellite\u2019s voyage is to \u201cobtain rich spectral information on the surface of the target area,\u201d in the fields of \u201cprecision agriculture, water resources management, mineral resource investigation, environmental monitoring, and emergency safety.\u201d Blockchain technology will also assist in achieving the goals of \u201chigh spatial resolution, high spectral resolution, and high temporal resolution\u201d in such satellite imaging.\u00a0<\/p>\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-22394\" width=\"792\" height=\"594\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-24-221618.png 649w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-24-221618-300x225.png 300w\" data-lazy-sizes=\"(max-width: 792px) 100vw, 792px\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-24-221618.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-24-221618.png\" alt=\"\" class=\"wp-image-22394\" width=\"792\" height=\"594\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-24-221618.png 649w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-24-221618-300x225.png 300w\" sizes=\"(max-width: 792px) 100vw, 792px\"\/><\/noscript><figcaption class=\"wp-element-caption\">The Tai\u2019an Star Era 16 blockchain satellite Launch (RedStar News)<\/figcaption><\/figure>\n<section class=\"adv-banner adbutler-ad adbutler-ad__desktop\">\n<div class=\"container\"><!-- 1456x180 [img] --><br \/>\n<a href=\"https:\/\/servedbyadbutler.com\/go2\/;ID=169476;size=728x90;setID=601214;referrer=https%3A%2F%2Fcointelegraph.com%2Fmagazine%2Fchinas-blockchain-satellite-in-space-hong-kongs-mcnuggets-metaverse-asia-express%2F\" target=\"_blank\" rel=\"noopener noreferrer\"><img src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=169476;size=728x90;setID=601214;referrer=https%3A%2F%2Fcointelegraph.com%2Fmagazine%2Fchinas-blockchain-satellite-in-space-hong-kongs-mcnuggets-metaverse-asia-express%2F;type=img\"\/><noscript><img src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=169476;size=728x90;setID=601214;referrer=https%3A%2F%2Fcointelegraph.com%2Fmagazine%2Fchinas-blockchain-satellite-in-space-hong-kongs-mcnuggets-metaverse-asia-express%2F;type=img\"\/><\/noscript><\/a><\/div>\n<\/section>\n<section class=\"adv-banner adbutler-ad adbutler-ad__mobile\">\n<div class=\"container\"><!-- 600x500 [img] --><br \/>\n<a href=\"https:\/\/servedbyadbutler.com\/go2\/;ID=169476;size=300x250;setID=601213;referrer=https%3A%2F%2Fcointelegraph.com%2Fmagazine%2Fchinas-blockchain-satellite-in-space-hong-kongs-mcnuggets-metaverse-asia-express%2F\" target=\"_blank\" rel=\"noopener noreferrer\"><img src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=169476;size=300x250;setID=601213;referrer=https%3A%2F%2Fcointelegraph.com%2Fmagazine%2Fchinas-blockchain-satellite-in-space-hong-kongs-mcnuggets-metaverse-asia-express%2F;type=img\"\/><noscript><img src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=169476;size=300x250;setID=601213;referrer=https%3A%2F%2Fcointelegraph.com%2Fmagazine%2Fchinas-blockchain-satellite-in-space-hong-kongs-mcnuggets-metaverse-asia-express%2F;type=img\"\/><\/noscript><\/a><\/div>\n<\/section>\n<h2 id=\"h-digital-yuan-cbdc-expands-to-hong-kong\">Digital Yuan CBDC expands to Hong Kong\u00a0<\/h2>\n<p>The Bank of China\u2019s Hong Kong subsidiary has allowed individuals in the Special Administrative Region (SAR) to utilize the digital yuan central bank digital currency (e-CNY CBDC) for retail shopping.\u00a0<\/p>\n<p>According to a July 20 report, over 200 merchants, such as shopping centers, pharmacies, convenience stores, and electronic stores have <a href=\"https:\/\/www.chinanews.com.cn\/cj\/2023\/07-20\/10046856.shtml\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">accepted<\/a> the e-CNY CBDC as a means of payment from shoppers originating in Mainland China. The e-CNY CBDC is currently not available to Hong Kong users.\u00a0<\/p>\n<p>As a SAR, Hong Kong maintains separate political, economic and social institutions from Mainland China. Advocates have <a href=\"https:\/\/cointelegraph.com\/news\/advocates-call-hong-kong-government-stablecoin\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">previously called<\/a> for the Hong Kong government to issue its own Hong Kong Dollar CBDC to compete with the likes of Tether (USDT) and USD Coin (USDC). Similarly, Chinese President Xi Jinping has <a href=\"https:\/\/cointelegraph.com\/magazine\/china-expands-cbdcs-tentacles-malaysia-is-hks-new-crypto-rival-asia-express\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">emphasized the importance<\/a> of CBDCs as a means of settling international trade in local currencies.<\/p>\n<h2 id=\"h-terraform-labs-struggles-to-get-back-on-its-feet\">Terraform Labs struggles to get back on its feet<\/h2>\n<p>\u201cEvery time we would make a little progress, there would be some accusation or something that would derail us,\u201d <a href=\"https:\/\/twitter.com\/fleece_cannon\/status\/1681793646750994432\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">said<\/a> Terraform Labs\u2019 interim CEO Chris Amani in a Twitter Space on July 20.\u00a0<\/p>\n<p>According to Amani, <a href=\"https:\/\/cointelegraph.com\/magazine\/justin-sun-vs-sec-do-kwon-arrested-180m-player-game-taps-polygon-asia-express\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">the arrest of the entity\u2019s co-founder<\/a> and former CEO Do Kwon in Montenegro has essentially shattered all momentum that the ailing network is trying to reestablish. In May 2022, the $40 billion Terra Luna (LUNC) ecosystem collapsed due to the implosion of its algorithmic stablecoin TerraUSD (USTC). Shortly afterward, Kwon created the Terra 2.0 (LUNA) ecosystem. The three tokens have a combined market cap of $1.3 billion at the time of publication.\u00a0<\/p>\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" alt=\"Do Kwon\" class=\"wp-image-21037\" width=\"699\" height=\"435\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon-1024x637.jpg 1024w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon-300x187.jpg 300w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon-770x479.jpg 770w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon.jpg 1060w\" data-lazy-sizes=\"(max-width: 699px) 100vw, 699px\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon-1024x637.jpg\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon-1024x637.jpg\" alt=\"Do Kwon\" class=\"wp-image-21037\" width=\"699\" height=\"435\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon-1024x637.jpg 1024w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon-300x187.jpg 300w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon-770x479.jpg 770w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Do-Kwon.jpg 1060w\" sizes=\"(max-width: 699px) 100vw, 699px\"\/><\/noscript><figcaption class=\"wp-element-caption\">Do Kwon faces charges in a variety of countries. <\/figcaption><\/figure>\n<p>In its next phase, Amani says that nine projects built on the combined Terra Luna ecosystem are scheduled to launch within the next few months. None of the projects will reportedly issue their own tokens. In addition, Amani <a href=\"https:\/\/cointelegraph.com\/news\/terra-ceo-progress-derailed-accusations\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">warned<\/a> that the projects face stiff competition from other layer-one projects due to lacking a Luna Foundation Guard or protocol treasury for financial support.\u00a0<\/p>\n<div class=\"article-suggest\">\n<p>Read also<\/p>\n<div class=\"article-suggest__items\">\n<div class=\"article-suggest__item\">\n                        <a href=\"https:\/\/cointelegraph.com\/magazine\/how-do-you-dao-can-daos-scale-burning-questions\/\" class=\"article-suggest__subtitle display4\"><br \/>\n                            <span>Features<\/span><\/p>\n<p>How do you DAO? Can DAOs scale and other burning questions<\/p>\n<p>                        <\/a>\n                    <\/div>\n<div class=\"article-suggest__item\">\n                        <a href=\"https:\/\/cointelegraph.com\/magazine\/ethereum-eating-world-only-need-one-internet\/\" class=\"article-suggest__subtitle display4\"><br \/>\n                            <span>Features<\/span><\/p>\n<p>Ethereum is eating the world \u2014 \u2018You only need one internet\u2019<\/p>\n<p>                        <\/a>\n                    <\/div>\n<\/div>\n<\/div>\n<h2 id=\"h-south-korean-crypto-lender-shuts-down-amid-criminal-proceedings\">South Korean crypto lender shuts down amid criminal proceedings<\/h2>\n<p>South Korean crypto lender Delio says all of its company and customers\u2019 assets have been seized in a raid conducted by prosecutors on July 18.<\/p>\n<p>In the July 22 announcement, Delio announced it would pause all interest payments to users effective immediately after the asset seizures made it impossible for the company to continue normal operations. In June, the crypto lender <a href=\"https:\/\/cointelegraph.com\/news\/crypto-lending-platform-delio-resume-withdrawals-after-counterparty-contagion\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">suspended all withdrawals and deposits<\/a> on its platform, citing exposure to counterparty and fellow South Korean crypto lender Haru Invest, which in turn suspended all transfers due to an issue with a \u201cconsignment operator,\u201d B&amp;S Holdings.\u00a0<\/p>\n<p>Haru Invest is currently undergoing bankruptcy proceedings. Meanwhile, Delio is one of the largest crypto lenders in South Korea, with around $1.5 billion in customer Bitcoin (BTC), Ether (ETH), and altcoin deposits. Since June 30, the firm has been under investigation by the country\u2019s Financial Services Commission on allegations of fraud, embezzlement and breach of trust.<\/p>\n<p>The firm previously stated that it would enable the withdrawal of users\u2019 assets without stating a specific timeframe. However, similar to the <a href=\"https:\/\/cointelegraph.com\/magazine\/multichain-saga-screws-users-binance-fires-1000-staff-asia-express\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Multichain saga<\/a>, it is unlikely the company can do so when customers\u2019 assets have been seized as part of criminal proceedings.<\/p>\n<p>In a July 23 blog post, Haru Invest CEO Hugo Lee <a href=\"https:\/\/haruinvest.com\/blog\/announcement-july-23-2023\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">wrote<\/a> that B&amp;S Holdings\u2019 assets have also been seized by authorities and that the company is currently trying to recover the funds. All of the firm\u2019s operations have been suspended, and the company is scheduled to liquidate its remaining assets in phases. Haru Invest currently has more than 80,000 users.<\/p>\n<h2 id=\"h-indonesia-s-national-crypto-exchange-goes-live\">Indonesia\u2019s national crypto exchange goes live<\/h2>\n<p>A national cryptocurrency exchange operated by the government of Indonesia will be the only legal venue for trading crypto assets in the Southeast Asian country.\u00a0<\/p>\n<p>In a July 20 <a href=\"https:\/\/bappebti.go.id\/siaran_pers\/detail\/12795\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">statement<\/a> from the country\u2019s Commodity Futures Trading Supervisory Agency, also known as Bappebti, the exchange is currently open for spot trading, with future plans to expand its offering to cryptocurrency futures and derivatives. All cryptocurrency exchange registered within the country could join the national exchange, which serves as a clearing house to ensure transactions abide by relevant regulations.\u00a0<\/p>\n<p>Despite official support, Islamic organizations in Indonesia have previously deemed the use of cryptocurrency to be <a href=\"https:\/\/cointelegraph.com\/news\/indonesian-islamic-organization-issues-new-fatwa-against-crypto-use\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">haram<\/a>, or forbidden, for Muslim users. That said, there is no consensus from Islamic scholars regarding the matter.\u00a0<\/p>\n<p>On the 40th anniversary of the introduction of chicken McNuggets, McDonald\u2019s Hong Kong is <a href=\"https:\/\/sandboxgame.medium.com\/celebrate-chicken-mcnuggets-40th-anniversary-in-the-sandbox-dda3a0a115c8\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">partnering<\/a> with Sandbox to launch a namesake metaverse to celebrate the occasion.<\/p>\n<p>Dubbed \u201cMcNuggets Land,\u201d the metaverse will allow users to interact with McNuggets-themed gaming characters and avatars. Randy Lai, CEO of McDonald\u2019s Hong Kong, commented:\u00a0<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cRooted in Hong Kong for 48 years, McDonald\u2019s has always strived to deliver innovative experiences and Happy Moments. To celebrate the 40th anniversary of Chicken McNuggets, we are excited to collaborate with The Sandbox to provide fun-filled Web3 Metaverse game experience.\u201d<\/p>\n<\/blockquote>\n<p>A reward pool of 100,000 SAND tokens and 10,000 vouchers for McNugget perks will be distributed to participants. Since its entry into then British Hong Kong in 1975, the franchise currently operates 250 restaurants around the city, serving more than 1 million customers per day.\u00a0<\/p>\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-22393\" width=\"813\" height=\"454\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-24-221452.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-24-221452.png\" alt=\"\" class=\"wp-image-22393\" width=\"813\" height=\"454\"\/><\/noscript><figcaption class=\"wp-element-caption\">The McNuggets Land Metaverse (Sandbox)<\/figcaption><\/figure>\n<div class=\"subscribe subscribe--inner\">\n<div class=\"container\">\n<div class=\"subscribe__inner\">\n<div class=\"subscribe__content\">\n<p>Subscribe<\/p>\n<p>The most engaging reads in blockchain. Delivered once a<br \/>\n        week.<\/p>\n<\/div>\n<div class=\"subscribe__img\">\n    <img alt=\"Subscribe to Magazine by Cointelegraph Newsletter.\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/10\/reading-copy.png\"\/><noscript><img src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/10\/reading-copy.png\" alt=\"Subscribe to Magazine by Cointelegraph Newsletter.\"\/><\/noscript>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"author category_page\">\n<div class=\"author__img\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" alt=\"\" height=\"300\" width=\"300\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/portrait_about_us_zhiyuan_sun_720.jpg\"\/><noscript><img loading=\"lazy\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/portrait_about_us_zhiyuan_sun_720.jpg\" alt=\"\" height=\"300\" width=\"300\"\/><\/noscript>\n\t\t\t\t\t\t<\/div>\n<div class=\"author__content\">\n<h2 class=\"author__name\">Zhiyuan Sun<\/h2>\n<p>Zhiyuan Sun is a journalist at Cointelegraph focusing on technology-related news. He has several years of experience writing for major financial media outlets such as The Motley Fool, Nasdaq.com and Seeking Alpha.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<section class=\"news\">\n<\/section>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/magazine\/chinas-blockchain-satellite-in-space-hong-kongs-mcnuggets-metaverse-asia-express\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese blockchain Sputnik\u2019s maiden voyage A Chinese satellite has become the first in the world to carry a blockchain imaging and screening system into orbit.\u00a0 According to local news outlet Red Star News on July 22, the Tai\u2019an Star Era 16 was successfully launched into orbit from the China Jiuquan Satellite Launch Center. Developed by NationStar Aerospace Technology Co., the satellite features a visual blockchain on-orbit certificate storage system dubbed \u2018ADAChain\u2019 (not related to Cardano) developed in-house by NationStar. Researchers wrote:\u00a0 \u201cThe [ADAChain] can realize functions such on-orbit visual blockchain&hellip;<\/p>\n","protected":false},"author":1,"featured_media":16471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[40],"tags":[89,148,2621,130],"_links":{"self":[{"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/posts\/17150"}],"collection":[{"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/comments?post=17150"}],"version-history":[{"count":0,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/posts\/17150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/media\/16471"}],"wp:attachment":[{"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/media?parent=17150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/categories?post=17150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo2.dedicatedhost247.com\/crypto\/wp-json\/wp\/v2\/tags?post=17150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}