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When will Domain Chain issue tokens (Is domain chain legal)

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When will Domain Chain issue tokens? When will Domain Chain issue tokens?On Sep

When will Domain Chain issue tokens (Is domain chain legal)

When will Domain Chain issue tokens? When will Domain Chain issue tokens?

On September 16, 2019, the blockchain enterprise application platform Domain Web (Iran) announced that it has issued governance token “RAM” on the Ethereum mainnet. RAM is used to reward developers for block space, node resources, and transaction fees. As an open-source project, RAM combines decentralized applications with distributed networks to provide users with a better experience. Currently, the product is still in its early stage and may gradually go public in the future. (Bilibili)

In July 2019, the Domain Chain team revealed that they plan to launch a new mechanism called RamDollar to incentivize ecological builders to participate and support Domain community members in activities such as staking to earn RAM rewards. In addition, the official stated: “RAM is a new form of currency with strong scalability; it allows anyone to have higher storage capacity requirements; RAM can make the operation of the entire system more stable without sacrificing decentralization.”

Is Domain Chain legal?

Recently, some media reports stated that the central government issued the “Announcement on Preventing Risks of Token Issuance and Financing” which pointed out that the regional chain is the main way of illegal financial activities. However, the laws of our country also clearly state that no place or enterprise is allowed to engage in business activities based on blockchain technology without the approval of the State Council; token sales and transactions are not allowed without national approval; digital wallet services provided by “WeBank” or other payment settlement institutions can be used; individuals are even prohibited from using virtual currency to make transfers, payments, and other operations to buy and sell goods and services. (Beijing Business Daily)

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