Algorand

Low-budget Argentinian carrier, Flybondi has started issuing all its flight tickets as NFTs on the Algorand blockchain. 
NFTs For All Flybondi Flyers
Along with other industries, Web3 is hitting the skies too. Argentinian airlines Flybondi has partnered with NFT ticketing company TravelX to integrate Web3 into its ticketing process in its latest Ticket 3.0 initiative. All Flybondi e-tickets are now issued as non-fungible tokens, and passengers will be able to own, trade, or sell them as NFTs on the Algorand blockchain.
Staci Warden, CEO of Algorand Foundation, commented on the partnership with TravelX and Flybondi, 

"We are thrilled to see our technology being utilized in such a unique way by TravelX. This likely represents the largest use-case of utility NFTs we've seen and something that could only happen with the reliability and scalability of the Algorand blockchain."

Australian airlines Qantas had also launched its own NFT project back in 2022. 
TravelX And NFTickets
TravelX is one of the few companies offering NFT ticketing services. The company had previously worked with the Spanish airline Air Europa in 2022 on a special NFT ticket project. Plus, the service has also been integrated into the trading platform of the LatAm crypto exchange Lemon to allow customers to buy and sell airline tickets. 
TravelX CEO commented on the partnership with Flybondi, saying, 

"Our partnership with Flybondi and the integration of our NFTicket technology on the Algorand blockchain exemplify the enormous potential for innovation within the travel industry. We're eager to continue driving this transformation alongside the other airlines worldwide we are already working with."

Buy Tickets For Trading
Colloquially dubbed NFTickets, these tokens were created by the airlines to offer flyers a more flexible flying experience. Since these are NFTs, buyers could purchase them in advance without solid travel plans or even passenger names. They would have the power to transfer the tickets as and when they please and, as a result, earn their own profits. 
In return, the airline will be able to save on customer service costs and earn its own revenue from a percentage of the trading fees. The transaction fee amounts to 2% to TravelX and another 2% to the airline when the NFTicket is traded on the secondary market. There are no charges on the initial purchase of the ticket. 
Flybondi CEO Mauricio Sana spoke about the initiative in a recent press release, 

"With this launch, we seek to generate a positive impact in the aviation industry through innovation and an application of blockchain technology. Changing the rules of the game is never easy, but we know that it is our objective to evolve and offer our passengers a new stage of the freedom to fly."

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Argentinian Airline Issues NFT Tickets

The ALGO price increased as it helped the market cap to exceed $1.6 billion. The project’s foundation took steps toward mounting a notable presence in India.   The market capitalization of Algorand [ALGO] surpassed $1.6 billion on 29 March, following an increase in cryptocurrency’s value. The move which drew the self-sustaining blockchain project close to reclaiming […]

Algorand inches closer to $2B market cap recoup, details inside

As the cryptocurrency landscape evolves, three trailblazers are emerging as the next big players: Ethereum (ETH), Algorand (ALGO), and Collateral Network (COLT). With a projected 3500% increase in value from the current $0.01 mark, the DeFi peer-to-peer lending platform, Collateral Network (COLT), offers borrowers unprecedented liquidity and a vast peer-to-peer network. Collateral Network (COLT) empowers […]

The Next Big Thing in Crypto: Collateral Network (COLT), Ethereum (ETH), Algorand (ALGO)

The low-cost carrier has expanded its partnership with NFT ticketing company TravelX to offer all tickets as NFTs on the Algorand blockchain.

Argentinian Airline Issues Every Ticket as an NFT


                    
                    The Deputy of Indonesia’s Ministry of Tourism and Creative Economy explains how NFTs and cryptocurrency can help solve social and economic challenges within Indonesia. 
                    One of the primary benefits of blockchain technology is the ability to record and capture information in a permanent, tamper-proof record. Once data is on a blockchain network, it cannot be altered, making it an ideal solution for record-keeping. Tokenized assets, such as nonfungible tokens (NFTs), can also be placed on a blockchain. This can verify ownership while demonstrating that certain events occurred at particular times. For example, the Meta History Museum tokenized data from the war in Ukraine in May 2022, placing the information on a blockchain network to preserve records of the war. Ensuring that specific events take place is also becoming more important than ever due to the rise of artificial intelligence (AI) and its ability to generate deep fakes, along with historical images that may appear realistic. NFTs for preserving cultural heritagePreserving information using decentralized technologies is gaining traction. For instance, Muhammad Neil El Himam, deputy chairman for digital economy and creative products in Indonesia’s Ministry of Tourism and Creative Economy, told Cointelegraph that he recently formed a partnership with Quantum Temple — a privacy company using NFTs for preservation — to help maintain the country’s cultural heritage. Himam explained that NFTs could ensure that heritage can be preserved and created without limits: “I believe that NFTs can contribute to preserving Indonesia’s cultural heritage while enhancing virtual tourism. NFTs may also be a medium in ushering in the next billion users into the crypto space, especially if the NFT elements of the cultural heritage are well-known and appreciated.”Linda Adami, CEO of Quantum Temple, told Cointelegraph that her firm developed a multichain NFT marketplace to bring cultural heritage and tourism to the Ethereum and Algorand blockchain networks. Adami explained that the platform is working closely with Indonesia’s Ministry of Tourism and Creative Economy to tokenize tangible and intangible cultural heritage as unique digital assets.Recent: The secret of pitching to male VCs: Female crypto founders blast off“Digital representations include traditional ceremonies, craftsmanship, and knowledge of nature and our universe, but also musical and oral expressions, dances and pilgrimages. By tokenizing cultural heritage, three critical areas of value are created: immutable archives of culture, transparent alternative income streams through royalties, verified provenance and recognition for cultural creators,” she stated.On March 21, 2023, Quantum Temple launched its “Paths to Alangö” NFT collection at L’Atelier des Lumières in Paris, France, during Paris Blockchain Week. “The collection includes 11 unique NFTs that represent different aspects of Balinese cultural heritage, such as dances, temples, landscapes and philosophy. The NFTs are created by local artists and cultural heritage experts,” Adami said. NFT artwork displaying a Galungan celebration at Penglipuran Village in Bali, Indonesia. Source: Quantum TempleAdami said that technological innovations such as blockchain could play a significant role in addressing key challenges within a country’s cultural sector. “Authenticity and quality are fundamental to cultural heritage’s tangible and intangible value. Blockchain can be used to create an immutable and invaluable record that recognizes authorship and guarantees the authenticity and provenance of creative assets,” Adami remarked. Harry Halpin, CEO and co-founder of decentralized privacy platform Nym, told Cointelegraph that documenting things like cultural artifacts is becoming critical to prevent manipulation. According to Halpin, blockchain technology is one of the best ways to ensure this, noting that Nym has been working with the decentralized storage provider Filecoin to document war crimes on its blockchain network. With this potential in mind, Himam believes that it is highly likely other regions will incorporate blockchain elements in the future. “Indonesia is just one example of many developing countries that have begun to explore the potential of these technologies,” he said. Challenges remainWhile tokenized digital assets could be a solution for preserving important information, regulatory and technical challenges may hamper adoption. For instance, while Himam is bullish on blockchain technology, he noted that regulatory uncertainty within the region might create friction. Himam said that Indonesia’s Commodity Futures Trading Regulatory Agency controls how blockchain technology is applied domestically. “Crypto assets are categorized as a commodity that can be used as the subject of futures contracts traded on an exchange,” he said. However, he added that as Indonesia begins to implement more blockchain use cases, the government will start to establish clear regulations and policies on how decentralized technologies could be applied. It’s also notable that Indonesia’s national crypto exchange is scheduled to be completed in June 2023. According to Himam, Indonesia is showing clear interest in cryptocurrency adoption. “The country has created regulations around cryptocurrencies and is encouraging their use,” he said. Recent: Adoption and nerves — Crypto pumps amid banking crisisHowever, Indonesia’s technical infrastructure could create challenges for projects using decentralized networks. Himam pointed out that blockchain-based technologies require specialized infrastructure, such as digital wallets, which may not be widely available in certain areas in Indonesia. This, coupled with the fact that most Web3 projects require skilled professionals, could result in slow regional innovation. Despite the challenges, Quantum Temple’s Adami believes that Asian institutions may be the furthest along in understanding blockchain-based use cases. “The Indonesian Ministry of Tourism and Creative Economy leadership understands how NFTs could offer a new funding model for the cultural and creative sector while also protecting the intellectual property rights of artists,” she remarked. 

Indonesian government looks to NFTs to preserve cultural heritage

An overview of the latest news for RIA, SFM and ALGO

Crypto market: focus on Calvaria (RIA), SafeMoon (SFM) and Algorand (ALGO)

Overall, 2022 was a year of ups and downs for the cryptocurrency market. Despite these fluctuations, however, the industry continues to grow and evolve, attracting more and more investors.

Unleashing 2023’s Potential: A Must-Have Blend of Big Eyes Coin and Algorand in Every Savvy Investor’s Portfolio

Algorand seems to be on for a good market day recording an increase of over 6% in price valuation within a 24-hour period. This comes amid an India move by the web3 startup.

Algorand gains 5% as it expands to India

Algorand has introduced AlgoKit, a comprehensive toolkit designed to support developers as they transition to the emerging web3 landscape.

Algorand unveils AlgoKit to simplify adoption for developers

Algorand (ALGO), a blockchain protocol, has entered the world’s most populous country, India, with a project that aims to support the country’s transformation from the back office of the Web2 world to the innovation hub of the Web3 world, according to two senior representatives. Millions of Indians work as contractors for Silicon Valley firms and […]
The post The Algorand Foundation Branches Out to India appeared first on BitcoinWorld.

The Algorand Foundation Branches Out to India

The tool suite was designed to be an easy onramp for web2 developers transitioning to web3 and developers from other chains who want to test out Algorand.

Algorand Aims to Help Developers Transition to Web3 With AlgoKit

Blockchain protocol Algorand (ALGO) has entered the world’s most populous country, India, with a project that aims to support the nation’s transformation from the back office of the Web2 world to the innovation hub of the Web3 world.

Toncoin and OKB go from strength to strength in terms of price action, Algorand face trouble after a $9 million dollar hack of the MyAlgo wallet, whilst Collateral Network, a new platform that allows people to use real world assets as collateral to borrow cryptocurrencies, release their token COLT in the first stage of its […]

Toncoin (TON), Algorand (ALGO), OKB and Collateral Network (COLT) set to surge in 2023

A difficult 2023 for many altcoins, despite the strong traction of Bitcoin and Ethereum

How are crypto assets BNB, CRO and Algorand doing?

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject. The price of Algorand (ALGO) is currently trading at a critical intersection of resistance levels. The long-term trend may change depending on whether it emerges or is rejected. The […]

Algorand (ALGO) Price Prediction 2025-2030: ALGO stagnates at these levels

The post Algorand (ALGO) And Chainlink (LINK) Investors Keep Eyes On This Presale Gem appeared first on Coinpedia Fintech News
Algorand (ALGO) and Chainlink (LINK) investors are buzzing about a new platform that could revolutionize the way we think about crowdlending. Introducing Collateral Network (COLT) – the innovative platform that allows people to free up funds from their physical assets used as collateral. With its decentralized features, users can borrow against their holdings, and now …

Algorand (ALGO) And Chainlink (LINK) Investors Keep Eyes On This Presale Gem

Coinbase has terminated Algorand’s staking rewards. Despite the development, ALGO did not experience negative impacts. The latest victim of the SEC’s continuous crackdown on multiple exchanges may be Algorand [ALGO]. According to a recent notification, ALGO stakes will no longer be eligible for incentives from Coinbase. Is your portfolio green? Check out the Algorand Profit […]

Was ALGO affected post termination of Coinbase staking rewards? Exploring…

Coinbase has shut down staking rewards for Algorand. The American crypto exchange reportedly took the decision in light of the Wells notice that was recently issued to it by the United States Securities and Exchange Commission (SEC). A Wells notice is a formal declaration of the securities regulator’s intent to initiate enforcement actions against a […]
The post Coinbase Suspends Algorand Staking After Wells Notice From SEC appeared first on Coin Edition.

Coinbase Suspends Algorand Staking After Wells Notice From SEC


                    
                    Algorand Foundation CEO said the crypto exchange is evaluating its products and services after receiving a Wells Notice. Coinbase denies the claim. 
                    Algorand Foundation CEO Stacy Waden took to Twitter to confirm rumors about Coinbase's decision to discontinue Algorand (ALGO) staking rewards for retail customers. Coinbase and Algorand, however, cite different reasons for the move.According to Waden's tweet, Coinbase informed Algorand about the sudden termination of rewards for ALGO tokens on March 22, as the crypto exchange evaluates its portfolio of products and services following a Wells Notice issued by the United States Securities and Exchange Commission (SEC) the same day. Hi #algofam, woke up this a.m, like many of you, to find that @coinbase killed rewards. They've now informed us that they are evaluating their services in light of recent regulatory scrutiny, and, for that reason, they will no longer support Algo rewards for Retail customers. 1/— staci.algo (@StaciW_DC) March 22, 2023

The change does not affect the ALGO token trading and governance rewards for institutional investors, Waden added in the thread. The claims have been denied by Coinbase. "The Algorand news is not related," a spokesperson for the crypto exchange told Cointelegraph, asserting that halting ALGO rewards is not tied to recent regulatory developments: "Coinbase works alongside asset issuers to provide rewards and continuously reevaluates our offerings to ensure the best customer experience. We have decided to discontinue Algorand (ALGO) rewards at this time."Cointelegraph reached out to the Algorand Foundation but did not receive an immediate response.Coinbase is the latest crypto company to be targeted by U.S. regulators in 2023. After receiving a Wells Notice on March 22, the exchange's chief legal officer Paul Grewal said the warning "comes after Coinbase provided multiple proposals to the SEC about registration over the course of months, all of which the SEC ultimately refused to respond to." Grewal further said Coinbase has "repeatedly, formally asked the SEC to engage in rulemaking for our industry." This includes filing a petition for rulemaking in July 2022, submitting a comment letter on March 20 supporting the petition, and requesting clarity about the SEC's views on staking services and the lack of notice provided to the industry. According to Grewal: "Just two days later we received a Wells notice that includes our staking services – the same staking services referenced 57 times in the S-1 the SEC reviewed in 2021 when we became a public company."The Coinbase notice was sent less than two months after the SEC reached an agreement with crypto exchange Kraken for “failing to register the offer and sale of their crypto asset staking-as-a-service program,” which the commission claims qualified as securities under its purview. As part of the settlement, Kraken agreed to cease operations of its U.S. staking program and pay $30 million in disgorgement, prejudgment interest, and civil penalties.A Wells Notice is a letter warning a company that the SEC may follow with enforcement action after identifying potential violations of securities law. Despite the notice, the crypto exchange says its products and services "continue to operate as usual." 

Coinbase and Algorand give divergent reasons for staking reward suspension

Coinbase has recently been served a Wells notice by the SEC.
Continue reading at DailyCoin.

Coinbase Suspends Algorand Staking Rewards Amid SEC Crackdown

The Algorand (ALGO) price could confirm its bullish trend reversal with a breakout above the current resistance
The post Here’s Why This Week Will Prove to Be Crucial for Future Price of Algorand (ALGO) appeared first on BeInCrypto.