Blockchain ‘Lunar Registry,’ Promising to Tokenize the Moon

  • A new blockchain start-up called Diana is promising to offer tokenized real estate on the moon.
  • The developers of the project are hoping to establish a Decentralized Autonomous Organization (DAO) to share ownership of, and responsibilities for the moon.

With how popular the word "moon" is among cryptocurrency enthusiasts, you would think that someone would have come up with a moon-based crypto project a long time ago.

There have been a few small novelty projects that played on the "moon meme" in crypto, but none that actually promised to tokenize the moon, until now that is. Over the weekend, a new blockchain startup called Diana launched to commemorate the July 20 anniversary of the Apollo 11 Moon landing.

Diana is an ambitious blockchain project that promises to establish a “lunar registry” that will put plots of space on the lunar surface in an ownership database. Diana's developers say that they will be dividing the moon up into 3,874,204,892 cells that will be mapped out on a blockchain.

The Diana blockchain will also work as a Decentralized Autonomous Organization (DAO) that could help manage responsibilities on the moon.

According to the whitepaper:

"Although the UN Outer Space Treaty, ratified in 1967, prohibits the ownership of the Moonor celestial bodies by a nation, it says nothing about private ownership. This does not preclude the interpretation that private entities such as civil enterprises could exercise property rights over extra-terrestrial resources."

The team has laid out many of the details about how the blockchain will work, including the fact that registration costs will increase as more tokens are sold, and that 50% of the tokens will be made publicly available, with less than 2% being reserved for the founders and development team. The remaining funds will act as a reserve.

The idea behind the DAO is to help organize the inevitable disputes for ownership that will arise on places like the moon as humans venture deeper into space for longer periods of time.

In a press release, a Diana representative said:

"Blockchain-based registration service will revolutionize the current land transactions and records through transparent and reliable rights guarantees. The Diana project will be a great opportunity for the Moon to be a daily interest and to promote peaceful possession of the Moon, the common heritage of mankind, for the first time.”

 

Over 5,000 Ugandan Citizens File Petitions Over Cryptocurrency Scam

Michael LaVere
  • Over 5,000 Ugandan citizens petitioned Parliament to issue a refund over funds lost in Dunamiscoins Resource Ltd. closure.
  • Cryptocurrency firm shuttered operation in late December, reportedly taking UGX 23 billion in client funds. 

Over 5,000 Ugandan citizens have petitioned Parliament following a high-profile scam by cryptocurrency firm Dunamiscoins Resource Ltd. 

According to a report by KMA Updates, more than 5,000 Ugandans submitted a petition seeking a refund over money invested in Dunamiscoins, which suddenly shuttered in December 2019. The fraudulent crypto firm billed itself as a privately owned company and claimed it was committed to providing complimentary crypto services to banks in order to benefit the low income and poor. 

In late 2019, Dunamiscoins’s bank account was suddenly frozen, with petitioners arguing that more than UGX 23 billion ($6.2 million) in client funds was locked in the firm. 

Arthur Asiimwe, de facto leader of the petitioners, told the Speaker and members of Parliament, 

[The] government licensed this company and gave it the go-ahead to work as a non-deposit taking financial institution; it carried out its duties as a microfinance company. They gave unrealistic bonuses.

Asiimwe and other petitioners argued that Dunamiscoins was operating as a microfinance company despite being registered as a non-deposit financial institution. While two of the company’s three directors have been arrested, Managing Director Susan Awoni remains at large. 

Asiimwe continued, 

We are not satisfied with what the Police report that they have failed to arrest the third director. We request that the Financial Intelligence Authority follows this up and trace where the money is and we are refunded.

Featured Image Credit: Photo via Pixabay.com