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The Republic of the Marshall Islands (RMI), an independent island country near the Equator in the Pacific Ocean, has announced it will allow decentralized autonomous organizations (DAOs) to register as legal entities recognized by the international legal system.

This development was made possible through the RMI’s recent passage of the Non-Profit Entities (Amendment) Act 2021, and made official with the incorporation of Shipyard Software’s Admiralty LLC — the first DAO to achieve legal status under this new law.

Shipyard Software builds decentralized exchanges for specific types of trades, traders, and instruments, starting with Clipper — a DEX with the best available prices on retail trades.

Legally incorporated RMI DAO: Shipyard Software creates tailor-made solutions for trading cryptocurrencies.

RMI + DAOs

DAOs are blockchain-enabled organizations that enable new forms of collective action and decision making and are widely used in decentralized applications (dApps), NFTs, charitable causes, decentralized finance (DeFi), and other emerging tech sectors. MIDAO Directory Services Inc., a domestic-based organization, has been established to help DAOs register as legal entities within the Marshall Islands.

MIDAO assisted Shipyard Software in incorporating Admiralty LLC. The organization’s mission is to simplify the incorporation process for DAOs in the RMI while ensuring full compliance. With this, the RMI is now open to blockchain-based projects that wish to be legally recognized on the global stage.

The RMI’s track record of regulatory compliance and fair legal adjudication is recognized worldwide, and the country is well-positioned to become a leading domicile for DAOs in the world. Just as the state of Delaware has become synonymous with incorporation within the U.S. the RMI aims to become the de facto choice for DAOs interested in legally registering their organization — and officially taking their rightful place within the current global legal system.

“Decentralized autonomous organizations present an enormous opportunity for people to organize in a more efficient and less hierarchical manner. We in the Marshall Islands recognize this unique moment to lead in this critical space.”
– Bobby Muller, former RMI Chief Secretary, President & Co-Founder of MIDAO

Republic of the Marshall Islands (RMI)

RMI is also uniquely situated against competitor nations as the most ideal place for DAO registries. It has full sovereignty on the international stage, unlike Wyoming, which is subject to the federal laws of the U.S. The Caymans and Switzerland have made headway in recognizing cryptocurrency and blockchain companies, but do not have specific carve-outs for DAOs in their laws.

Additionally, RMI’s success in the maritime sector’s registry – 20% of the world’s shipping capacity is registered in RMI – is evidence that RMI can meet the unique needs of DAOs at scale. Meanwhile, as a Freely Associated State with the US, the RMI benefits from US institutions. The Department of the Interior (DOI), the US Postal Services, Federal Emergency Management Agency (FEMA), Federal Aviation Administration (FAA), and the US Military provide services to the RMI as if it were part of the US.

“DAOs are the next major iteration of human organizational structure. As mass adoption of blockchain technology takes off it is critical that DAOs be explicitly recognized as a new corporate entity on the international stage.”
– Mark Lurie, CEO & Co-Founder of Shipyard Software

The post Marshall Islands recognizes DAO incorporation appeared first on CryptoNinjas.

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By: CryptoNinjas.net
Title: Marshall Islands recognizes DAO incorporation
Sourced From: www.cryptoninjas.net/2022/02/15/marshall-islands-recognizes-dao-incorporation/
Published Date: Tue, 15 Feb 2022 17:18:21 +0000

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LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys

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Bitso, a leading cryptocurrency platform operating in Latin America, and the Mexican Football Federation (FMF), today announced the joint launch of the first collectible NFT of the Mexico National Team’s jerseys that was acquired in cryptocurrencies.

This morning through their social media platforms, the FMF and Bitso announced the opportunity to acquire the new official National Team fan jerseys ahead of the team’s participation in the 2022 World Cup. In just 20 minutes, the entire collection sold out.

bitsonftjeysey
The NFTs of the jerseys have an exclusive design for the metaverse – each is unique on the blockchain and can be resold by its owner in subsequent transactions.

The collection consisted of 100 official physical jerseys, each with a corresponding NFT version of the jersey that fans’ avatars can wear within the Decentraland metaverse. Each physical and NFT jersey set sold for the equivalent of $1,800 MXN in ethers.

“Our mission is to make cryptocurrency useful in the everyday life of Mexicans; we are committed to spreading the technology through innovative opportunities that help people throughout the country familiarize themselves with this new world. We are very excited to offer the incredible, historic opportunity for the fans of our National Team so that through their Bitso account, they can wear the colors of the National Team on and ‘off’ the field in the metaverse.”
– Bárbara González Briseño, General Director of Bitso México

Jersey NFTs

Created by Bitso, the virtual jersey sports the official colors of Mexico and the new National Team shield, characteristics that will make it stand out when users wear it in the virtual world of Decentraland.

The post LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys appeared first on CryptoNinjas.

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By: CryptoNinjas.net
Title: LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Sourced From: www.cryptoninjas.net/2022/07/29/latam-crypto-exchange-bitso-and-fmf-launch-nft-of-mexicos-national-team-jerseys/
Published Date: Fri, 29 Jul 2022 15:19:02 +0000

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Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth

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EXMO, a crypto exchange platform operating since 2014, announced this week a rebranded visual identity with includes a new logo, brand colors, and design features. This new branding comes as EXMO continues to grow its crypto platform while also seeking to expand its presence in other jurisdictions.

Some new developments underway at EXMO:

Soon, users will be able to earn passive income from EXMO’s new staking platform.Plans to launch an EXMO crypto debit card.Expansion of its services in international markets with the opening of offices in Poland and Lithuania.

EXMO’s new logo

The rationale for the re-brand:

“At EXMO, we have a vision of a world where crypto is in every wallet. Hassle-free. We want to achieve this by making crypto as simple and accessible to everyone as possible. And we know that you already appreciate EXMO for offering user-friendly services and helpful support. Also for the opportunity to trade anywhere and anytime, closing deals in just a few taps. Such important changes required a rethinking of our corporate style, which has long needed a massive upgrade. So today we are introducing a new brand identity for EXMO with a completely new visual concept. We are launching a new logo, brand colors, and design elements. Our key design principles are simplicity, boldness, and a pinch of fun. But most importantly, we have changed our logo. Simple and easily recognizable, it represents the humanity of our brand. The logo stands out due to the wavy letter ‘m’ which symbolizes exchange rate charts and also resembles a spring that will launch you into the crypto world.”
– The EXMO Team regarding the re-branding

The post Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth appeared first on CryptoNinjas.

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By: CryptoNinjas.net
Title: Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
Sourced From: www.cryptoninjas.net/2022/07/26/long-running-crypto-exchange-exmo-unveils-lively-rebrand-amidst-growth/
Published Date: Tue, 26 Jul 2022 08:10:38 +0000

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Stitching together the grid will save lives as extreme weather worsens

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The blistering heat waves that set temperature records across much of the US in recent days have strained electricity systems, threatening to knock out power in vulnerable regions of the country. 

The electricity has largely stayed online so far this summer, but there have been scattered problems and close calls already. 

Heavy use of energy-sucking air-conditioners is the biggest problem. But intense heat can also reduce the output of power plants, blow transformers, and force power lines to sag. Severe droughts across large parts of the country have also significantly reduced the availability of hydroelectric power, according to the North American Electric Reliability Corporation (NERC). 

It’s unlikely to get better soon. A number of grid operators may struggle to meet peak summer demand, creating the risk of rolling blackouts, the NERC report notes.

The nation’s isolated and antiquated grids are in desperate need of upgrades to keep the lights, heat, and air-conditioning on in the midst of extreme weather events that climate change is making more common, severe, and dangerous. One clear way to ease many of these issues is to more tightly integrate the country’s regional grids, stitching them together with more long-range transmission lines. 

If electricity generated in one area can be more easily shared across much wider regions, power can simply flow to where it’s needed at those moments when customers crank up air-conditioners en masse, or when power plants or fuel supply lines fail amid soaring temperatures, wildfires, hurricanes, or other events, says Liza Reed, a research manager focused on transmission at the Niskanen Center, a Washington, DC, think tank.  

The problem is it’s proved difficult to build more long-range transmission and grid interconnections for a variety of reasons, including the permitting challenges of erecting wires through private and public lands across cities, counties, and states and the reluctance of local authorities to forfeit control or submit to greater federal oversight.

The case of Texas

The unreliability of the US grid is not a new problem. Severe heat and winter storms have repeatedly exposed the frailty of electricity systems in recent years, leaving thousands to millions of people without power as temperatures spiked or plunged.

One of the fundamental challenges is that the grids today are highly fragmented. There are three main electricity networks within the US: the Eastern Grid, the Western Grid, and the Electric Reliability Council of Texas (ERCOT). But there are numerous regional transmission organizations within those first two systems, including the California Independent System Operator, Southwest Power Pool, PJM Interconnection, New York ISO, and more. 

These grids form a complex web of networks operating under different regulators, rules and market structures, and often with limited connections between them.

Map USA grid
A variety of regional transmission organizations oversee different parts of the nation’s aging and fragmented grids, which operate under different rules and with often limited connections between them.
legend

ERCOT is especially isolated, in part because of the desire among local politicians, citizens, and power companies to avoid added competition, the hassle of following other states’ rules, and oversight from the Federal Energy Regulatory Commission (FERC). But the state offers a case study in why that can be a serious problem amid increasingly harsh climate conditions, Reed says.

The Texas grid operator pleaded with customers several times earlier this month to cut electricity use as blistering summer temperatures created  demand surges that threatened to outstrip supply and require rolling blackouts.  Low wind conditions, cloud cover, and outages at fossil-fuel power plants added to the strains.

Shutting off the electricity needed to run air-conditioning in triple-digit temperatures

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By: James Temple
Title: Stitching together the grid will save lives as extreme weather worsens
Sourced From: www.technologyreview.com/2022/07/28/1056483/stitching-together-the-grid-will-save-lives-as-extreme-weather-worsens/
Published Date: Thu, 28 Jul 2022 08:00:00 +0000

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