The crypto markets finally seem to be cautiously on the path to recovery from the brutal start to 2022 that depleted investors’ cash, with BTC up 10.54%. On the adoption front, a hospital in KSA is implementing a blockchain-powered solution! Speaking of KSA, a Saudi Princess has launched her very own NFT collection.
Moreover, just like we predicted, India's plans for stricter regulations on crypto were in preparations to launch its own CBDC! Let's dig in, shall we?
India to Launch CBDC
India’s Reserve Bank (RBI) has announced plans to roll out the country’s very own Central Bank Digital Currency (CBDC), a representation of the digital Rupee in 2022-2023. Minister of Finance Nirmala Sitharaman said during her delivery of India’s annual budget: “Introduction of a central bank digital currency will give a boost, a big boost to the digital economy… Digital currency will also lead to a more efficient and cheaper currency management system”.
Sitharaman also announced the new 30% crypto tax on the income from the transfer of any virtual digital assets.
We think that India's warming up to cryptocurrencies could result in a very good sentiment boost for the cryptosphere and this regulation clarity could even hinder the use of such currencies in criminal activities.
Saudi’s King Faisal Specialist Hospital Uses Blockchain
In alignment with KSA Vision 2030, The King Faisal Specialist Hospital and Research Center has launched its Blockchain Lab in Q4 2021. The Lab aims at building blockchain know-how in KSA as well as adopting this technology in Healthcare by implementing a blockchain digital credentialing solution for all Medical residents that pass through the organization and publish them directly on the blockchain where they can be immediately verified and shared by residents directly on social media platforms, the LinkedIn post announced.
Majed Alfayyadh, MD, MMM, Chief Executive Officer, King Faisal Specialist Hospital & Research Center said: “This digital blockchain solution has opened the door for real, applied use cases within healthcare. KFSH&RC is proud to be an early adapter, as this technology will disrupt the healthcare model in positive ways”.
Saudi Princess Reem Al Faisal Rolls Out NFT Collection of Mekkah and Madina
Saudi Princess and pioneer photographer with works that is recognized all over the world, Reem Al Faisal, has announced the official launch of her first Saudi non-fungible token (NFT) collection “Mekkah and Madina” on Opensea platform and an art gallery in the Metaverse.
The NFT collection dubbed as “Mekkah and Medina'' features pictures of the Islamic holy shrine Al Kaabah in Mekkah and other Holy places in Medina.
HRH commented to Unlock Media:
“Today we made history by the first exhibition of Saudi NFTs in the Metaverse. I have been photographing all my life, since I was a child, and therefore I don’t consider it a career as much as part of me. It is as natural to me as talking or breathing”.
