The Sovereign Government of Yidindji has gone ahead and issued its Dollar successfully after it utilized the identity-based blockchain of MetaMUI. After around a year of intense collaboration between the blockchain and SYG, the team could finally issue a fully functioning central bank digital currency using the revolutionary technology that is synonymous with MetaMUI- the first identity-based blockchain in the entire world.
While there are hundreds of other CBDC projects which have been cropping up around the world, most of the projects are still in quite a fledgling state. Only a few sovereign nations have been able to launch their CBDCs.
Yidindji Dollar Is The First CBDC Under MetaMUI
The Yidindji dollar has a few distinctive features that allow it to differentiate itself from others. The Dollar is the first CBDC that has been issued through the platform of MetaMUI. The Dollar was also issued only in digital currency without the production of paper bills.
A new system of payment, which is connected to the service set identifier system of MetaMUI, is going to be utilized in every single retail store and government office. And finally, this is a convertible currency whose collateral assets lie in gold, silver, and a few other minerals and natural resources.
The Sovereign Yidindji Government has already created a national identity system that utilizes the technology of MetaMUI. Therefore, all the citizens of the sovereign government, companies, and organizations can create their own digital identity- which would also allow them to own various digital assets while making payments through the dollar.
The Sovereign Yidindji Government is an Aboriginal Australian micronation and includes some of the most pristine rainforests in the world. Several academics and scientists have claimed that the people of this region have existed for close to 60,000 years, which makes them one of the oldest living cultures that still exist on this planet.