The nation plans to build an 830,000 square meter crypto hub facility employing 16,000 people in Malè.
The Financial Times reports that the Maldives government signed a $9 billion agreement with Dubai-based MBS Global Investments, hoping to diversify the nation’s revenue away from tourism and fishing and into blockchain technology.
It’s another reminder that blockchain is revolutionizing the way business is carried out. And it’s not just every day investors that see value in the technology; governments around the globe do as well.
With crypto adoption ramping up, investors have an exciting opportunity to cash in. So, what is the best crypto to buy now?
Flare
As the Maldives pushes ahead with its crypto hub, Flare is the best-performing top 100 cryptocurrency today. Its rally doesn’t appear directly linked to the Maldives’ new move, but it shows that the market is paying close attention.
And considering its use case, it’s easy to see why.
Flare is a scalable layer 1 blockchain used for data-intensive tasks like DeFi. But it’s not just a normal DeFi-focused blockchain – it aims to bring smart contract support for cryptocurrencies that don’t normally have it.
It allows cryptocurrencies like Bitcoin and XRP to be used in its DeFi apps.
Flare uses bridging to achieve this, but it’s unique because each bridged asset has 300% over-collateralization, ensuring the economic security of users’ funds.
Flare unlocks trillions of dollars in liquidity for DeFi and promises robust security – this gives it serious potential for growth..
Solaxy
When it comes to crypto adoption, Solaxy is one of the few under-the-radar projects that could soon change everything.
It’s building the world’s first Solana layer 2 blockchain, tackling the network’s congestion issue, which leads to longer wait times and increased rates of transaction failures amidst periods of peak activity.
Solaxy will use off-chain computation and rollup technology to make Solana cheaper, faster, and more reliable.
Over 84 million people have used Solana in the last month, while companies like SOL Strategies and DeFi Developments (JNVR) are using equity financing to buy more $SOL, and institutions like BlackRock and Fidelity have moved their tokenized money markets to the chain.
The spotlight is shining bright on the chain right now, and Solaxy is building for the next era of Solana activity.
It’s currently undergoing a presale, where it has raised $33 million so far. Solaxy’s presale momentum reflects big potential once it lists on exchanges.
XRP
XRP is a cryptocurrency that aims to become the global standard settlement currency for cross-border remittances.
With governments increasingly adopting crypto technology while also rethinking the US Dollar’s global reserve currency status due to economic policy uncertainty and a weakening dollar, XRP is well-positioned to gain traction in the coming years.
Something else worth considering is that XRP already has agreements in place with institutions and governments worldwide. One of them is the Dubai Financial Services Authority (DFSA), which provided Ripple Labs with a DFSA license for blockchain payments in the UAE.
Considering that the Maldives has partnered with Dubai-based MBS Global Investments, it’s certainly not impossible that XRP plays a role in the $9 billion crypto megaplan.
Story
In recent years, the generative AI sector has emerged as one of the most powerful and viral technologies. It has shaken everything from image generation to medical diagnostics, but it’s facing some teething issues.
Generative AI sometimes infringes on intellectual property rights. Unless it’s trained on permissioned data, AI models will include creators’ and artists’ work within their outputs.
This can cause legal battles and often costing both AI developers and IP owners a lot of money. So, Story is a layer 1 blockchain with a solution.
It allows creators to tokenize rights to their work and sell it to AI developers. It’s the best of both worlds: AI engineers can operate within the boundaries of legality, and IP owners can boost their income.
Story has already partnered with K-pop bands and countless other artists.
In a world where generative AI plays an increasingly significant role, Story is positioned help is grow sustsainably. It’s a setup could result in strong gains for investors.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
