Good day! This the Yellow Dip (Twitter) - We are not like a regular and boring Blockchain newsletter, we're a "cool and funny" newsletter! Huh.

On our agenda, today we have:

• UDPN launch at WEF

• What is a DAO?

• Quick dips

UDPN launch at World Economic Forum

The World Economic Forum (WEF) is a big deal. It's where all the business people and politicians get together to talk about important stuff like the economy and the future of the world. This year, something new was added to the mix - UDPN.

UDPN stands for "Universal Digital Payments Network". The cross-border digital currency payments initiative was launched on 19th January with an ambitious goal of providing interoperability between regulated stablecoins & CBDCs (Central Bank Digital Currencies) - you see, the world is getting ready.

Why is this important? Firstly, you ain't gonna believe this, but like 114 countries, which is like almost all of the world, are exploring in some capacity to launch their own digital money. They're trying to figure out how it would work and what it would mean for their economy. It's crazy, right? But here's where it gets interesting, most of the talk about this digital money has been about using it within the country. But UDPN is all about taking it international. They wanna make sure that these digital dollars can be used for transactions between countries too. So it's like super fast and cheap to send money across borders. It's like the future of international transactions.

Secondly, the cool thing is that UDPN was launched at the WEF. It's exciting to see new technology like UDPN being recognized at such a big event.

What’s the tech? It's built on this thing called distributed ledger technology (DLT), which is similar to blockchain, but not Blockchain. And the cool thing is that it's decentralized, which means it doesn't have one big company in charge of everything.

It’s a long bet. The creators of UDPN have been working on it for two years and they think it's way better than other digital payments projects out there. They believe it can make digital payments cheaper and faster, and it can work with other digital currencies like stablecoins and CBDCs. Basically, UDPN wants to be an alternative to the traditional payment systems, and they think they can make it happen with this decentralized approach and the advanced technology they're using. It's a promising development, and it will be interesting to see how it evolves in the future.

What has been done so far? This project has involved multiple leading global banks, who are testing milestones and established a so-called Sandbox, or basically a testing ground, last July where the traditional financial institutions actively tested stablecoin transfer and foreign exchange (FX) transactions.

UDPN is still new and it's going to take some time for it to become mainstream. But the launch at WEF is a big step in the right direction. It's important that new technologies like this get the attention they deserve, so that they can be used to make the world a better place.

What is a DAO?

DAO stands for “Decentralized Autonomous Organization”. It's a fancy way of saying it's a type of organization that runs on its own, without the need for a boss or a board of directors.

A DAO is run by a group of people who all have a say in how things are run. They use a technology called blockchain, which is a way of keeping track of things in a secure and transparent way. The group of people who run the DAO are called "token holders" because they own a special type of digital token that represents their share in the organization.

Think of a DAO as a digital version of a democratic government. Just like how citizens of a country vote for their leaders, token holders of a DAO vote on decisions that affect the organization. The idea behind it is to create a fair and decentralized way of making decisions.

DAOs can be used for all sorts of things, like managing a community project, running a business, or even creating a new type of currency. They're still a relatively new concept, but they have the potential to change the way we think about organizations. They can make them more transparent and fair, and give more power to the people who are actually running the organization. The idea behind DAOs is to create a decentralized and fair way of making decisions. It's not controlled by one person or a board of directors, but by the community itself.

It's important to note that DAOs are still in their early stages and there are still a lot of challenges that need to be addressed. But they have the potential to change the way we think about organizations, making them more transparent and fair and giving more power to the community.

😂

Quick Dips

+ Porsche announced new NFTs based on the Porsche 911 model (Porsche)

+ Unlocking new possibilities in telecommunication with Web3 solutions — AMA with Emeldi (Cointelegraph)

+ 69% users bet metaverse entertainment will reshape social lifestyle: Data (Cointelegraph)

+ Digital Asset & Blockchain Technology Act (New Jersey Bill)

+ Indian Government Launches Blockchain Initiative With 5ire, Network Capital (Coindesk)

That's it for today. Stay curious & see ya next week!

What do you think of today's edition?

If you like the newsletter, ask your friends to subscribe with this link https://yellowdip.beehiiv.com/subscribe

DISCLAIMER: This newsletter is strictly educational and is not an investment advice to buy or sell any assets or to make any financial decisions. Please be careful and do your own research