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September 15 scripts a historic day for the crypto world as Ethereum completed its Merge, meaning the network will no longer rely on a proof-of-work (PoW) consensus mechanism. Ethereum, the world’s second most valuable crypto has completed its massive software upgrade with promises of massive environmental benefits. The Merge is set to reduce Ethereum’s energy consumption by nearly 99.95%. But other than that, let us take a look at some of the big stories from the past week.
Norwegian central bank uses Ethereum to build digital currency
With the publication of the open-source code for the nation’s central bank digital currency (CBDC) sandbox, Norway’s central bank has achieved a significant milestone in its attempts to promote digital currencies.
The sandbox, which is accessible on GitHub, aims to provide a user interface for interacting with the test network, enabling features like ERC-20 token minting, burning, and transfer. The current version of the code is only privately accessible by people with the necessary credentials.
The sandbox contains a unique frontend, relevant smart contracts, and access controls, as well as network monitoring tools like BlockScout and Grafana.
The Bank also stated that the Ethereum is expected to provide core infrastructure for the issuance, distribution, and destruction of digital central bank money.
BNB Chain partners with Google Cloud to advance Web 3.0, Blockchain initiatives
Binance’s smart contract blockchain platform BNB Chain has collaborated with Google Cloud to bolster Web 3.0 and blockchain projects.
The collaboration will allow access to the tools and infrastructure offered by both platforms to over 1,300 active BNB Chain-based decentralized apps (DApps).
Initiatives established on BNB Chain can now access Google Cloud infrastructure including the ability to analyze on-chain data and encrypt information through Google Cloud.
The partnership will also facilitate access to the Google for Startups Cloud Program to specific Web 3.0 builders from the BNB Chain ecosystem.
This latest collaboration with BNB Chain tracks Google’s accelerating step into the Web 3.0 world.
Puma debuts first Metaverse experience with NFT shoes
Sports giant Puma has announced the release of its first interactive metaverse experience ‘Black Station’ featuring exclusive non-fungible tokens (NFTs) with limited edition redeemable physical sneakers.
The aim of Puma Black Station is to provide customers with an immersive and engaging portal through which they may experience the brand’s future.
The Black Station metaverse, developed by creative ventures company FTR, has been built with Unreal Engine 5 to produce cutting-edge graphics.
Puma is the newest sportswear company to introduce digital collectibles, following Adidas. Puma has previously entered the Web 3.0 space with the limited edition NFTs of the Puma boots worn by football player Sergio Aguero in a promotional campaign with football club Manchester City.
Starbucks to offer NFT-based loyalty program
Starbucks is set to launch a non-fungible token (NFT)-based loyalty program using Polygon’s blockchain technology.
Starbucks unveiled Starbucks Odyssey, a new Web 3.0-enabled experience that offers Starbucks rewards members the ability to earn and buy digital collectibles (NFTs) and unlock access to new benefits and immersive coffee experiences.
The program is to be built on Polygon’s proof-of-stake network, a consensus mechanism for processing transactions and creating new blocks in a blockchain that rests on top of the Ethereum network.
To avail of the Starbucks Odyssey experience, customers can register on a waitlist now.
DBS becomes the first Singaporean bank to join the metaverse
DBS announced the launch of DBS BetterWorld, a metaverse experience created in partnership with The Sandbox. The Sandbox is a decentralized virtual game environment built on Ethereum.
It also becomes the first bank in Singapore to enter the metaverse.
The goal of this partnership is to create DBS BetterWorld, an interactive metaverse experience highlighting the importance of creating a better, more sustainable world and inviting others to join.
Under the alliance, DBS will acquire a 3×3 plot of land in the Sandbox metaverse and then occupy it with interactive and immersive elements.
The bank said that it will cooperate with partners in the public, private, nonprofit, and corporate sectors on ideas to improve the BetterWorld experience.
Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.