The Russian government published a document on Tuesday night outlining principles for regulating bitcoin and cryptocurrency in the country.

Penrose Partners, a Canadian & Bermudian blockchain advisory firm, will be spearheading The 3rd Annual International Technology Summit the week of March 7—11, 2022. The event will be hosted in partnership with the Government of Bermuda and the Consulate General of Canada in NY, and is co-organized by Blockchain Triangle and Bermuda Asset Management. Headline sponsors include Algorand, a world-leading blockchain protocol working with national governments, and 3iQ Corp, a Canadian investment manager who launched the world's first publicly traded Bitcoin investment fund (TSX: QBTC.U).

The International Technology Summit will bring together innovators, regulators, and executives from Canada, the US, and around the world to explore the latest breakthroughs in blockchain, enabled by Bermuda's digital asset regulations. Attendees will join Penrose in discussing the advancements of the island's fintech ecosystem and the work being done to accomplish the Hon. E. David Burt, JP, MP; Premier of Bermuda's digital currency vision for the island. The event will also celebrate the successful licensing of new digital asset businesses and the kickoff of the second cohort of startups in the Innofund Innovation Incubator (i3).

A key component of this year's International Technology Summit is the headline conference on Wednesday, March 9th. The conference will consist of panel discussions covering topics that include crypto & DeFi, the state of stablecoins & CBDCs, digital asset custody, and sustainable innovation. The opening presentation will be a conversation between leaders of the Governments of Bermuda and Canada in discussing the progress their administrations have made in technology and innovation. The keynote presentation will be a conversation between Algorand CEO, Steve Kokinos, and 3iQ Chairman & CEO, Fred Pye, where they will share their upcoming plans for enabling sustainable digital asset adoption. 

The International Technology Summit will also include a startup pitch contest on Friday, March 11th, with opportunities for promising entrepreneurs to win conditional entry into the i3 Incubator, along with other prizes. In addition to the pitch contest, the week will feature a FinTech Education Day on Tuesday, March 8th hosted in partnership with Bermuda Government's Economic Development Department on a variety of digital asset and blockchain topics to prepare audience members for the conference on the following day. 

Other Featured speakers will include Garrick Hileman, the Head of Research at Blockchain.com, Justin Newton, CEO of Netki, Alex McDougall, President & COO of Stablecorp, and Bermuda technology leader Kevin Richards of Bermuda Asset Management among many others. Additional sponsors of the event include Clarien Bank, Vesto, Canada Sail GP, Transform Group, Knox Custody, Innofund, Renno & Co and the Canadian Association of Alternative Strategies & Assets.

Penrose invites technologists, futurists, and investors of all ages and from around the world to join the conference to discuss the benefits of web3 technologies—not just for businesses and governments globally—but for our overall social, economic and environmental sustainability.

To register for the conference event on March 9th visit the event page.

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About Penrose Partners

Founded in 2019 by blockchain industry veterans, Penrose Partners are trusted emerging technology consultants on a mission to help strategic stakeholders transform the world's economies through blockchain-based innovations. The firm has worked with top academic institutions, governments and enterprises to facilitate blockchain technology adoption.

The federal government in Moscow has adopted a concept for regulating the Russian crypto space as early as this month. The new framework is expected to place cryptocurrency flows under state oversight, introduce strict obligations for market participants, and ensure investor protection. Russian Authorities Move to Legalize Crypto Economy The Russian government “has determined the […]

Canadian national Sebastien Vachon-Desjardins was charged by the US for his involvement in NetWalker ransomware attacks and sentenced to 6 years and 8 months in prison after pleading guilty before an Ontario judge on Monday to multiple offenses linked to attacks on 17 Canadian victims. The judge said that, although Desjardins cooperated with the authorities to help […]

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GTC aspires to be a DAO with near-real-world dynamics. According to the project's team. The game strives to incentivize both law-abiding and law-neglecting behavior. 

When users abide by the law, they earn passive income, get advanced property insurance and liability insurance, profit from seized assets, and get a limited P2P gameplay. On the other hand, when they neglect the law, they earn from short-term income influx, get little property and liability insurance and obtain entrance to the black market. 

Land Ownership Encrypta

Landowners in the GTC-Verse can freely develop and create their households (within certain restrictions that are subject to change). Landowners can be punished or rewarded in the form of lost or gained revenue, based on an advanced behavior punishment mechanism implemented later in the game to protect asset loss.

Users can only mint land parcels in an ERC721 token / NFT form utilizing Ethereum in stage 1 and the native token in stage 3. The token is absolute proof of ownership and thus irreplicable. However, this should not be confused with untransferable. Peer-to-peer platforms will allow public landowners to transfer and sell their landholdings. 

During the first stage, half of the Ethereum received is used to buy back and destroy a portion of the supply. It is a critical component of their return strategy for investors, as it will cause long-term price inflation.

Furthermore, 20% of the Ethereum gathered with each packet minted will be set aside. The project then utilizes funds to purchase the Decentraland property in Genesis City, where the GTC White House is located.

The GTC Tokenomics

The main in-game currency used to fight your way to financial freedom is the $GTC token. Citizens will be able to use the currency to access countless services. The total supply equals to 15 million. Of this, 20% goes to the initial circulation supply. The all public launch will use up to 10% of this total supply. Meanwhile, the presale will take 1.5 million GTC, 10% of all the tokens. Notably, the presale will take place on the 8th of February in 2022.

GTC will introduce in-game saving systems already known from traditional banking. Users who register a bank account and keep GTC tokens can pool the tokens into an enhanced staking pool. As a result, GTC locks the tokens for a set time. Users receive incentives to do so, with an APY up to 20% more than the non-boosted counter variety. Citizens with a debit bank account will also earn a 2% spend bonus in-game, helping to stimulate the economy.

There is also secure value storage resulting from investing and reinvesting in the overall crypto market. Furthermore, GTC intends to allocate 25% of the funds to a USDC liquidity pool to profit from large market movements. It creates a long-term, low-risk revenue stream from which all investors can benefit.

About Grand Theft Crypto

By incorporating DAO, GTC aspires to be more than just a P2E game or a crypto metaverse. As a result, it offers a realistic economic trade-off. Grand Theft Crypto intends to create a Grand Theft Auto style video game based on ETHfor Mobile, Computer, and Gaming Consoles.. By doing your part to ensure the community flourishes, you can help us battle the ruggers, fudders, whales, and bots!

Social Media Links

You can read more about Grand Theft Crypto on their:

Website: https://grandtheftcrypto.org/

Telegram: https://t.me/gtcverse

Discord: https://discord.gg/ZqtMTttfJK

Whitepaper: https://grandtheftcrypto.org/docs/whitepaper.pdf 

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