• The Pi Network warned against listing its token on Huobi and other exchanges on Dec. 29th.
• The Pi token price surged 461.3% from $44.03 to $232.97 within 24 hours of being listed on Huobi Global.
• Pi Network clarified that its token is in an ‚Enclosed Network‘ period, during which the trading of Pi on exchanges is „explicitly prohibited.“
On December 29th, Huobi Global announced the listing of Pi, the native token of the Pi Network. This announcement caused a huge surge in the token’s price, soaring 461.3% from $44.03 to $232.97 within the 24 hours of being listed. This massive increase in price caused the fake Pi token to become the most traded token on Huobi Global over the past 24 hours, reaching a trading volume of $46.8 million.
However, the Pi Network was quick to respond and warned against listing its token on Huobi and other exchanges. In a statement released on December 29th, it clarified that its Pi token was listed “without the consent, authority or involvement of Pi Network”. It further stated that the trading of Pi on exchanges during the ‘Enclosed Network’ period is “explicitly prohibited” and that any trading of its token on exchanges would violate Pi Network’s policies.
The token is also currently available for trading on the centralized exchange XT.COM and on other platforms, such as Hotcoin Global, BitMart, and SuperEx crypto exchanges. Pi Network asked Pi miners, called Pioneers, not to engage with the unauthorized listed tokens and stated that it was not involved with any listings.
It is important to note that, while the Pi Network has not authorized the listing of its token on exchanges, it is possible that the token could be listed on other exchanges in the future. For the time being, however, it is important to practice caution and take all necessary precautions when trading Pi tokens on exchanges.
• Turkey’s Central Bank of the Republic (CBRT) recently announced the successful completion of its first digital lira transactions.
• The digital lira is a central bank digital currency (CBDC) and appears to involve blockchain technology.
• The CBRT will continue to test the digital lira and share the results of those tests in early 2023.
The Central Bank of the Republic of Turkey (CBRT) recently announced the successful completion of the first transactions involving its digital lira. The CBRT will continue to run limited, closed-circuit pilot tests for the digital lira throughout the first quarter of 2023, and results will be shared with the public in a comprehensive evaluation report.
The digital lira is a central bank digital currency (CBDC) and appears to involve blockchain technology. In September, the CBRT stated that the digital lira could be diversified “into areas such as blockchain technology [and] the use of distributed ledgers in payment systems.” Additionally, in October, the CBRT announced that it would create a “blockchain-based digital central bank money”, which explicitly confirms that the digital lira relies on blockchain technology in some form. The digital lira will also be integrated with non-blockchain services, such as digital identity tools and Turkey’s Instant and Continuous Transfer of Funds (FAST) System.
The CBRT’s decision to launch a CBDC comes as part of the country’s larger economic transformation, which has included the country’s adoption of digital payment systems. In recent years, Turkey has seen a sharp rise in the number of electronic payments, with the country’s central bank noting that the number of payments made via electronic means rose from 3.3 billion in 2016 to 8.3 billion in 2020. This rapid rise in digital payments has led the CBRT to recognize the need for a digital lira, which can serve as a more efficient and secure means of making payments.
The CBRT’s launch of a CBDC is also part of its larger efforts to increase financial inclusion in the country. By providing a digital currency, the CBRT will be able to reach more people and businesses, allowing them to access financial services that may have previously been out of reach. This is especially important in Turkey, where the country’s World Bank ranking in terms of financial inclusion is only 50th out of the world’s economies.
The CBRT’s launch of a digital lira is an important step in the country’s continued economic transformation. The digital lira will allow more people to access financial services and will provide a more efficient and secure payment system. The CBRT will continue to run tests for the digital lira throughout the first quarter of 2023 and will share the results of those tests in a comprehensive evaluation report.
• BMW has integrated blockchain solutions through BNB Chain and Coinweb to automate its operations and provide customers with blockchain loyalty programs in Thailand.
• The first phase of the integration will focus on automating business activities, particularly financial operations.
• The second phase will involve launching a new customer loyalty program using a customized Web3 app built by Coinweb.
BMW has recently announced the adoption of a blockchain-based loyalty program in Thailand, powered by Coinweb and BNB Chain. This will enable the car manufacturer to automate its operations and provide customers with rewards for their loyalty to the brand.
The integration of blockchain solutions into BMW’s operations will be divided into two phases. The first phase will focus on automating the company’s business activities, particularly its financial operations. This will be done through Coinweb, a blockchain infrastructure firm, which will provide BMW with a decentralized and efficient architecture. The BNB Chain will also be utilized in order to settle each transaction that is made.
The second phase of the blockchain integration will involve the launch of a new customer loyalty program. This program will be powered by a customized Web3 app, which will be built by Coinweb. Through this app, customers will be able to earn points for their loyalty to the brand, which can then be used to purchase products from BMW. All transactions related to this program will be settled on the BNB Chain.
The adoption of this blockchain-based loyalty program is a big move for BMW as it will not only provide customers with rewards, but also allow the company to automate its operations and provide a secure and efficient platform for its customers. This will help BMW provide its customers with a better overall experience, as well as allowing it to remain competitive in an increasingly digital world.