DICT ICT Summit Ongoing, Zksync Airdrop | Key Points | June 18, 2024
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Happening right now is the ICT Summit of the Department of Information and Communications Technology (DICT) where the Undersecretary David Almirol further clarified their planned blockchain initiative.
Let’s check the latest crypto news stories in the last 24 hours.
Market Analysis and Updates 📈
Crypto Price Update
Here are the crypto highlights of the day:
- Bitcoin (BTC): $65,437, down 1.3% over the last 24 hours.
- Ethereum (ETH): $3,426, down 4.7% over the last 24 hours.
- Solana (SOL): $134.46, down 9.5% vs the previous day.
Trending Coins Update
- Enreach: $13.02, up 973% vs the previous day.
- Peapods Finance: $4.41, up 40% over the last 24 hours.
- Beercoin: $0.0001, down 32% vs the previous day.
For the daily price update, check out our post on Facebook.
Feature News: DICT Further Clarifies Blockchain Initiative eGovchain
At the moment, the DICT’s ICT Summit is ongoing and we got further remarks from Undersecretary David Almirol.
Why set up eGovchain: This initiative aims to streamline data management across various government agencies, reducing redundant data entry and improving efficiency.
It also aims to eliminate issues related to hacking, which was a headache because of increasing reports of government agencies’ databases being hacked.
How it works:
- Simplified Process: A “once only” policy ensures data is shared across agencies without repeated entries.
- Cybersecurity: eGovChain will secure data with encryption and three security layers, and initially feature a single government-maintained node with plans for additional nodes.
However: Currently, the system has only one node, meaning it is not yet a fully decentralized blockchain.
What’s next: Two more nodes will be set up by partners. In this way, even if the government node fails, the data will still be secure.
Feature News: ZKsync Initial Market Cap Neared $800M After Airdrop
ZKsync launched the airdrop of its ZK token, with 45% of the tokens claimed within two hours.
The numbers:
- Initial token price: $0.31, now at $0.22.
- Current market cap: $800 million.
- Fully diluted market cap: $4.5 billion.
- 3.7 billion tokens eligible for distribution
However: Binance faced technical issues delaying the listing of ZK tokens
What’s next: Matter Labs plans to distribute the remaining tokens, with a significant portion allocated to users and ecosystem contributors.
Local Crypto News 🇵🇭
- Ownly, which plans to launch its own chain aptly called “ownchain” said they are making progress on the NodeKey NFT contract. They are also planning to launch an affiliate program.
- Coins has now listed 90+ tokens on its platform.
- NFT artist Sevi Agregado together with Ownly’s Ismael Jerusalem and XOVOX Labs’ EL Bonuan led a successful NFT minting workshop with the Rotary Club of Makati.
- Tether and Coins.ph hosted a workshop for banks and fintechs on “Leveraging Stablecoins for Financial Transactions.”
Educational Corner 🎓
- We continued our coverage of Telegram games and wrote a short essay about it here.
- This article contains a short primer on Pixelverse.
- Learn more about Pirate Nation here.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- A token called “DJT” surged in price after reports linking it to Donald Trump.
- The U.S. SEC doesn’t want to lower the fines to Ripple which argued for it in the latest updated of the battle between the two organization.
- Nigeria is dropping tax charges against Binance executives.
Community Spotlight 🔦
The DICT appears to be making all the efforts to digitize the government and one of its initiatives is to launch a government blockchain.
- The current Secretary John Ivan Uy received the Leadership Award at last year’s Philippine Blockchain Week.
- We interviewed DICT Emmy Lou-Delfin multiple times, including this one in 2021, when they initially intend to promote blockchain awareness.
- And most recently, here is an article that explains the eGovchain initiative.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Almost half of airdropped ZKsync tokens are claimed in two hours.
- Polkadot community is backing JAM overhaul.
- Convex Finance token surges 100%.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Ton blockchain surges above $600 million TVL (total value locked).
- Heroes of Mavia is integrating Mavia token into the gameplay
- XAI adoption propels its TVL to all-time high.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!
- XODE Blockchain Kickoff in Cebu: June 19, 2024
- Axie Infinity in Bicol: June 20, 2024.
- YGG Pilipinas Roadtrip (Bacolod): June 22, 2024
- Bitcoin Impact: June 22, 2024
- Ethereum Meetup Cebu: July 7, 2024
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Memecoins destroyed by market downturn.
- Coinbase Advanced will be offering pre-launch token trading.
- Tether debuts new synthetic dollar backed by tokenized gold.
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This article is published on BitPinas: DICT ICT Summit Ongoing, Zksync Airdrop | Key Points | June 18, 2024
