Philippine startups change finance with blockchain via RSK
Filipino NFT enthusiasts now have new reasons to celebrate as the highly anticipated NFT minting platform Carnaval will officially go live at the Bitcoin 2022 conference, held in Miami, Florida from April 6-9.
Carnaval is part of the RSK ecosystem, the first and most secure decentralized finance (DeFi) ecosystem built on and secured by Bitcoin. Built by IOV Labs, the RSK ecosystem uses technology such as self-executing smart contracts and blockchain to offer services such as cryptocurrency staking, lending, yield farming, and more to do away with the need for a centralized regulating body (hence the term DeFi).
Through Carnaval, NFTs (or non-fungible tokens) can now be minted on the Bitcoin blockchain by using RSK smart contracts. Minting, in simple terms, is the act of monetizing a token on a blockchain to make it available for purchase. The platform allows Iberoamerican artists to show their work to wider, worldwide audiences.
Carnaval will first launch by showcasing NFTs from leading Iberoamerican artists in a unique collection called Carnaval Genesis Drop on April 6th at 10 am (EST) along with the Bitcoin Genesis Drop—the 210 first NFTs of an Iberoamerican art collection on top of the Bitcoin network. The Carnaval Genesis Drop collection will also be released as 10,000 generative NFT profile pics that reflect the world-famous Magritte’s “Son of Man” artwork.
Of course, Carnaval will not be the only RSK project showcased at Bitcoin 2022. As the largest conference solely dedicated to Bitcoin, RSK will also use the Bitcoin 2022 event to showcase other partners of their ecosystem. From its Money on Chain protocol designed to improve Bitcoin’s performance to its Babelfish project standardizing stablecoins across multiple chains, RSK has no shortage of innovations to improve the cryptocurrency/blockchain experience. RSK co-founder and IOVlabs CEO, Diego Zaldivar, will even be at Bitcoin 2022 to discuss sidechains and their benefits and tradeoffs with other speakers in a panel entitled “Sidechains: Benefits and Tradeoffs”.
“In the last two years, we witnessed the meteoric rise of DeFi. New monetary systems (stablecoins) and speculative financial tools (trading engines and AMMs) were built on top of the main blockchain networks but they only serve the needs of speculators. The challenge ahead is how to connect these new decentralized Fintech systems with the needs of the rest of society. That is our challenge at IOVLabs and the reason why we created Rootstock and RIF, building everyday DeFi.” says Diego Gutierrez Zaldivar.
RSK has already notably begun building up its presence in the Philippines. Aside from launching an official RSK localized Facebook page, Telegram community, and Twitter page specifically for Filipinos, RSK has also begun to help Filipino startups. In March, the platform announced it will help Filipino startups grow their DeFi projects by releasing growth marketing tips and making their services available in the country.
With the Bitcoin 2022 event highly anticipated to make waves for the cryptocurrency, RSK is now in a prime position to shape the coin’s future. With Carnaval now also part of RSK’s ecosystem, Filipino NFT enthusiasts can now also look forward to what RSK brings to the table.