What happened during the week in quotes: the active use of a new cryptocurrency wallet by Salvadorans, attracting tourists to Thailand with their own token, continued discussion of the Free TON rebranding and other important events.
Free TON And Freeman — Rebranding Options
Echoes of a possible Free TON rebranding continue to be heard and many members of the community agreed that it is necessary. At the same time, the discussion participants emphasize the importance of a profound change in blockchain, not just a name change.
If you called an apple a persimmon and did nothing else, then it is still an apple.
The best rebranding is the implementation of quality options in blockchain technology. The name change will have little effect because getting rid of the scam in this way is somewhat of black PR. And nothing will prevent you from getting scammed for a new name. Then such a rebranding is a waste of time.
The solution could be a rebranding associated with the Free TON and Freeland collaboration. The Freeland character Mr. Freeman has a perfect reputation, his videos get a lot of views on YouTube — why not try rebranding in Freeman style?!
Free TON is a partner of Freeland and Mr.Freeman Universe. We are actually working on a Metaverse with Freeman Philosophy and Style but based on TON tech. Why not rebrand into the Freeman Style?
Salvadorans Actively Use Crypto Wallets Instead of Banks
As we remember, El Salvador became the first country in the world to allow its citizens to pay BTC on a par with the official currency. For the convenience of the residents, the Chivo wallet was released, which allows you to store both actively used currencies of the state on your account: bitcoins and dollars.
Surprisingly, over 2.1 million Salvadorans have used the wallet in the three weeks since it went online.
Here’s what the president of the country said on Twitter about it:
“2.1 million Salvadorans are ACTIVELY USING Chivowallet.
Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is moving fast to have more users than ALL BANKS IN EL SALVADOR combined.
This is wild!”
Tourism Authority of Thailand Plans To Launch Its Token
Thailand passed cryptocurrency legislation in the spring. The Tourism Authority of Thailand (TAT) responded quickly and decided to take advantage of new opportunities — to issue its own TAT Coin token. The organization plans to use it to attract tourists to the country.
Yuthasak Supasorn, governor of the TAT:
“We have to prepare digital infrastructure and digital literacy for our tourism operators in order to commence cryptourism as the traditional business model might not be able to keep up with the new changes.”
NFT News of the Week
In 2012, a screenshot was taken of a video where a little girl reacts in a peculiar way to a trip to Disneyland. The picture, called “Side-eyeing Chloe” became very popular on the Internet, and an NFT token of the same name was created based on it.
Recently NFT was sold for an incredible amount of 25 ETH.
Its former owner shared this joyous event on Twitter.
SOLD TO @3fmusic for 25ETH. Thanks so much for all the bids! And thank you to the NFT community for helping us push this out to the market.
In the meantime, Dogecoin (DOGE) meme-coin co-founder Billy Marcus is looking forward to finalizing the bridge between DOGE and Ethereum so that NFT can finally be bought and sold using DOGE.
He shared this on his Twitter:
“Two things I believe would help Dogecoin:
- Completion of DOGE-ETH bridge.
- NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases.
NFTs purchasing is high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.”
Bitfinex Exchange Failures
On September 27, the Bitfinex exchange paid a fee of 7,626 ETH for transferring $100,000 to a third-party wallet of the DeversiFi platform. That is, the fee was 230 times the amount of the transfer itself.
Bitfinex expects the paid fee will return to it after the investigation:
“In transactions such as these, the fees are shouldered by third-party integrations with Bitfinex. This has also been confirmed by DeversiFi in their recent statement. We look forward to DeversiFi’s investigation and to their having this matter sorted on their side.”
On September 30, the Bitfinex exchange did not work for several hours. All functionality became available from 13:05 Moscow time, as they informed their users on Twitter:
“Our intervention is nearing successful completion and the Bitfinex platform will be returning in view-only mode at 9:55 AM UTC. Starting from 10:00 AM UTC, it will be possible to cancel orders before trading opens at 10:05 AM UTC. Thank you for your patience”.
This is not the first time such platform failures have occurred.