#infrastructure

Web3 gaming platform is launching a Layer 2 blockchain testnet, Immutable zkEVM, to reduce dependence on a single network infrastructure. The platform utilizes Polygon Supernets, which facilitate the creation of application-specific blockchains.

Partnering with Paxos Trust, financial giant PayPal has unveiled PayPal USD (PYUSD), focusing on swift and budget-friendly payments. With backing from dollar deposits, short-term government securities, and similar cash equivalents, PayPal's CEO, Dan Schulman, envisions the stablecoin bolstering the company's foothold in the digital currency space: "The vision over time is that this becomes a part of the overall payments infrastructure."

This collaboration seeks to digitize various sectors, including government services, healthcare, and education. The Google Distributed Cloud (GDC) services will enhance local infrastructure and data processing capabilities, aligning with El Salvador’s vision to become an innovation hub. President Nayib Bukele emphasized the importance of technology and foreign investment for the nation’s development: “Google’s global experience combined with the audacity of El Salvador will redefine the technological landscape.”

Bitdeer Technologies Group, based in Singapore, has successfully set up an avant-garde bitcoin mining facility in Gedu, Bhutan – a nation recently recognized for its crypto investments. As the facility approaches the end of its trial run, many of its mining units are already in operation. Reflecting on the progress, Bitdeer's CEO, Linghui Kong remarked: "We made significant strides on both the operational and infrastructure fronts during July."

Representing Massachusetts in the U.S. Senate, she's forcefully advocating for immediate steps to plug the gaps in cryptocurrency tax provisions, gaps that are believed to be worth roughly $50 billion. Warren's argument rests on the Infrastructure Investment Act, which is set to take effect on January 1, 2024. Still, disappointingly, no preliminary guidance has been put forth by the Department of Treasury on this concern.

Optimism announced Law of Chains v0: a foundation for the future of Superchain. Law of Chains v0 will change Optimism Governance to govern standards for multiple chains, defining the necessary conditions for integration into Superchain and prioritizing user security. According to the developers, this will: 1. Preserve a unified, neutral, and open blockchain space. 2. Conduct blockchain modernization. 3. Ensure infrastructure availability. Optimism aims to officially unveil this project and the first version of the new chain governance process after discussions with the community in the next governance season.

Ethereum co-founder Vitalik Buterin has teamed up with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal to contribute a substantial sum of $100 million towards COVID-19 research and the development of medical infrastructure in India. Recognizing the ongoing threat of COVID-19 and potential future pandemics, Buterin took to Twitter on June 8th to highlight the urgent need for a comprehensive global solution. He emphasized the importance of combining cutting-edge scientific innovation with effective on-the-ground implementation to address these challenges head-on. The generous donation will be directed towards critical areas of research, with a particular focus on studying COVID-19 airborne transmission and advancing the development of improved medical equipment. By prioritizing these aspects, the initiative aims to enhance understanding and mitigation strategies, ultimately curbing the spread of the virus and improving healthcare outcomes for affected individuals.