NKDA from India’s West Bengal has partnered with Airchains. The news was announced by Polygon because it carries forward its legacy of real-world utilities. The partnership between the two will help the government to update its land registry. Meaning the way land records are maintained will go through a tremendous change. They will now be backed by the mechanism of NFT, short for non-fungible tokens.
Airchains’s collaboration with NKDA will help keep land records digitally updated along with the feature of ownership tracking for the lifetime. This will replace the traditional bureaucracy with a more secure digital system and transparency. Every NFT involved here will:
- Serve as proof of land ownership
- Enable tracking of land ownership for the lifetime
The partnership has just been announced, and it remains to be seen how well it aligns with the government’s objective of serving its citizens. While the intentions are clearly noble, there is a chance that the project bursts like wildfire in the presence of malicious actors on the internet. Simply put, the success of the partnership between NKDA and Airchains depends on how tight cyber security measures are in West Bengal.
Polygon (Labs) announced this update while also highlighting other real-world instances where it is serving the communities.
Singapore, for one, saw the DeFi pilot happen when JPMorgan made its debut in the Web3 sphere. This happened at a time when its own Chief Executive Officer was railing against cryptocurrency. JPMorgan achieved this feat by executing its first-ever cross-border transaction, which was backed by the Polygon network. These tokenized SGD and JPY deposits as a part of MAS’s Project Guardian.
A Swiss town has set its eyes on becoming a global hub for blockchain solutions. This is not the first anyone has heard about a region, or any region for that matter, becoming a global hub for blockchain-related offerings. The same comes from the City of Lugano just goes on to make it clear that the size of impact and relevance is way bigger.
Moving forward, Lugano plans to allow its companies and citizens to leverage the BTC holding along with LVGA, a stablecoin, to pay their yearly taxes. Other services include public-related and parking tickets, to mention a few. Months later, the adoption could lead to the crypto being utilized for almost everything in Lugano.
Polygon protocols will back the initiatives in the Swiss region. StaTwig and the WSCWD (Telangana) entered into a partnership to reach out to more children and women/ The outreach program was tracked by StaTwig to make sure that all the women and children are getting access to the delivery supplements and basic necessities.
NKDA and Airchains partnering together put up yet another real-world example of how Polygon and blockchain solutions are gaining traction in the world with actual utilities. Their partnership will be first time-tested before actually boosting it for mass adoption. If successful, India could be headed to adopting it as an official government model.
Source: https://www.cryptonewsz.com/polygon-announces-partnership-between-nkda-and-airchains/