UAE IS MOVING 12.5M CITIZEN IDENTITIES TO AN AVALANCHE CUSTOM L1 🚨🇦🇪🌐
The UAE is moving its UAE PASS Digital Vault onto a dedicated Avalanche L1 to verify official records for over 12.5M residents. 🏛️📑
This does not run on Avalanche's public network. It operates as an isolated custom chain with private validator rules so civic data stays sovereign. ⚡🔒
Major institutional partnerships across the network:
🔹 California DMV: Digitizing 42M car titles on a custom L1.
🔹 JPMorgan Onyx: Portfolio rebalancing on an Evergreen subnet.
🔹 Citi: Private fund tokenization on the Spruce subnet.
🔹 Deloitte: Disaster relief tracking on Avalanche for FEMA.
Do these partnerships help $AVAX token holders?
In plain words: no.
These rollouts run on private subnets. They do not burn public AVAX or pay fees to token holders.
While these deals bring immense prestige for Ava Labs, they create zero cash flow and zero buy pressure for spot $AVAX holders. 💸📉
Do enterprise blockchain deals matter if token holders earn nothing? 👇
#Avalanche #AVAX #CryptoNews
The UAE is moving its UAE PASS Digital Vault onto a dedicated Avalanche L1 to verify official records for over 12.5M residents. 🏛️📑
This does not run on Avalanche's public network. It operates as an isolated custom chain with private validator rules so civic data stays sovereign. ⚡🔒
Major institutional partnerships across the network:
🔹 California DMV: Digitizing 42M car titles on a custom L1.
🔹 JPMorgan Onyx: Portfolio rebalancing on an Evergreen subnet.
🔹 Citi: Private fund tokenization on the Spruce subnet.
🔹 Deloitte: Disaster relief tracking on Avalanche for FEMA.
Do these partnerships help $AVAX token holders?
In plain words: no.
These rollouts run on private subnets. They do not burn public AVAX or pay fees to token holders.
While these deals bring immense prestige for Ava Labs, they create zero cash flow and zero buy pressure for spot $AVAX holders. 💸📉
Do enterprise blockchain deals matter if token holders earn nothing? 👇
#Avalanche #AVAX #CryptoNews
