🏙️ World’s First Bitcoin-Backed City to be in El Salvador Soon at a Cost of 300,000 BTC

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World’s First Bitcoin-Backed City to be in El Salvador Soon at a Cost of 300,000 BTC

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El Salvador is proving to be one of the most Bitcoin-friendly countries in the world. Nayib Bukele, the country’s president, has doubled down on efforts to turn El Salvador into a leading hub in the crypto space.

During his speech at an event in El Salvador, Bukele said that he is planning to develop a city in the Eastern part of the LA Union.

The power supply would be provided through volcanoes and the residents would only have to pay value-added tax, as there would be no other taxes in the newly planned city.

50% of all income derived from the VAT will go towards funding the bitcoin backed bonds based on which the city will be built. The rest of the VAT will go in to fund other crucial services to support the city. Bukele said, estimating the public infrastructure would cost about 300,000 Bitcoins ($17.7bn).

Astra Finally Succeeds at Launching Its Rocket to Orbit

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Many private companies are vying to dominate the private space rocket market. It is one of the hotly contested sectors in the United States today as companies aim for plush government contracts.

Yet, the list of private companies having succeeded at sending their rockets to orbit is still small. The recent company to register its name to their coveted list is the California-based startup Astra.

On Saturday, Astra’s LV0007 rocket was carrying a US military payload. It took off at 1:16 AM from the Spaceport Complex in Kodiak Island, Alaska.

Astra’s rocket entered orbit, which is 500 kilometers above the earth, 9 minutes after taking off. This is a big deal for the Astra team as this success comes after multiple failures at launching their rocket to space.

Amazon Executives Charged in India Under Marijuana Case

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The eCommerce giant found itself in the cross hairs of the Indian police. In the state of Madhya Pradesh, known as the heart of India, police filed a case against Amazon India directors under India’s narcotics laws, allegedly for failing to stop the trade of marijuana through its eCommerce platform.

Police did not disclose the name & the number of Amazon executives that they have filed a case against, but they said that the statements from the executives were contradictory.

The reports indicate that police had nabbed two individuals in possession of 20 kgs of marijuana last week. The police claimed that these individuals were trading marijuana through Amazon’s eCommerce platform.

After 2019, the Risk of Cybersecurity Breaches is up by 490% for Mid-sized Businesses

Coro released a new security report, where it disclosed that the likelihood of mid-sized businesses facing cybersecurity attacks has increased by 490%, compared to 2019. To prepare the report, Coro surveyed 4000 mid-sized businesses with 100-150 employees.

The growth in the number of cybersecurity attacks on mid-sized businesses puts them on equal footing with large enterprises. But the issue is that these mid-sized companies do not have resources at their disposal to tackle cyberattacks.

The new report also states that the number of cyberattacks spikes during the holiday season. These hacking attacks are also growing in intensity, as generic attacks dropped to 68% this year, compared to 86% in 2020.

Around the Web

💻 GenZ Leads in Terms of Their Contribution to Ethical Hacking Space: A new report shines a light on the demographics of ethical hackers. It discloses that 54% of ethical hackers are GenZ, whereas 36% are millennials.


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