Monday, Sep 26, 2022
Outlook Money

Maharashtra Village To Issue Caste Certificates Via Polygon Blockchain; Cryptos Fall

Maharashtra village Etapalli to use Legit-Doc, a Polygon blockchain-based platform, to issue caste certificates. Meanwhile a school in Dubai is set to accept cryptos as a payment mechanism.

Bitcoin (BTC) bitcoin

In one of the first of such experiments, residents of Etapalli village, Gadchiroli district, Maharashtra, will get their caste certificate issued via LegitDoc, a Polygon blockchain-based platform. 

Meanwhile, Finance Minister Nirmala Sitharaman said in Rajya Sabha on Tuesday, “Virtual digital assets (VDAs) do include crypto and other assets such as NFT. To clear any confusion, the central government can also notify which VDA would not be taxed as VDA. Also, it can exclude any asset which is not required to be there.”

In other news, a local school in Dubai, UAE, announced that it is considering accepting cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) as a payment method for tuition fees. 

The global crypto market cap decreased by 0.53 per cent to $2.13 trillion at 8.32 am. The global crypto volume too decreased by 1.32 per cent to $118.31 billion, as per Coinmarketcap data. 

Cryptocurrency Prices

Bitcoin, the world’s oldest cryptocurrency, was trading at $47,250.77, lower by 0.25 per cent in the last 24 hours.

Ethereum, the second-largest cryptocurrency by market capitalisation, was also trading lower by 0.08 per cent at $3,376.33.

"Bitcoin seems to be overbought at the moment, however pullbacks may be brief and limited. Overall, the market is slightly down but remains in the green, after gains for about seven consecutive days," says Gaurav Dahake, CEO and founder, Bitbns.

Among other major coins, Cardano (ADA) was down by 0.78 per cent at $1.19, Algorand (ALGO) by 1.47 per cent at $0.9063, Polygon (MATIC) by 1.74 per cent at $1.66, Binance Coin (BNB) by 0.48 per cent at $431.70 and Polkadot (DOT) lost 0.49 per cent at $22.13. Solana (SOL) was, however, up by 1.01 per cent at $110.22.

Today’s top gainer was Will Smith Inu (WSI), which was up by 1950.46 per cent at $0.000001553. The top loser was MetaMatic

(META), which was down by 98.52 per cent at $0.000000000835.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was down by 1.68 per cent at $0.1417. Its volume to market cap ratio stands at 0.05173. Rival Shiba Inu (SHIB) was also down by 0.13 per cent at $0.00002686.

Dogelon Mars (ELON) was trading with a loss of 0.8 per cent at $0.000001068, Floki Inu (FLOKI) crashed by 6.82 per cent at $0.00003684, while Samoyed Coin (SAMO) lost 1.41 per cent at $0.02176.

In the DeFi segment, YFI ( was surprisingly trading with a gain of 3.38 per cent at $23,071.69. Terra (LUNA) was also up by 3.41 per cent at $106.60. Avalanche (AVAX) lost 1.51 per cent to $92.23, Uniswap (UNI) rose 1.33 per cent to trade at $11.14, and Aave (AAVE) was up by a massive 28.64 per cent to $223.11.

Latest Updates

“Public blockchains have brought in a new dimension to the internet, where information can not only be openly sharable but can be made openly unfalsifiable. Such a solution can disrupt societal record-keeping methods, identity management, payments, remittances, accounting, fundraisers etc. India is now in the right spot to lead the world ‘on chain’, and we believe Maharashtra's on chain caste certificate implementation is the right step in this direction,” Shubham Gupta, assistant collector of Etapalli, wrote in a LinkedIn post.

Dubai-based Citizens School, which may accept crypto as a payment method, will open in September 2022. Adil Alzarooni, the founder of Citizens School, said, “A while ago, cryptocurrency was only a floating term among well-versed investors. However, today cryptocurrency is becoming much more mainstream, reshaping the traditional financial system. By introducing this new payment facility, we look forward to enhancing the role of young generations in achieving the UAE’s digital economy. As more people embrace the era of digitalisation, today’s children will become the entrepreneurs and investors of tomorrow,” reported