Don’t fret, Doge enthusiasts. 1 DOGE still = 1 DOGE! Here are some other noteworthy DOGE updates
In 2013, Dogecoin, a cryptocurrency based on the popular “Doge” internet meme, officially debuted. In the often dog-eat-dog world of digital currency, this Shiba Inu inspired altcoin did its part to help lighten the mood.
Despite the fact that Dogecoin (DOGE) was introduced as “joke currency” it has gone on to have a great deal of success. In January of 2018, the altcoin had a $2 billion market cap and at press time is the 23rd most valuable digital currency in the world.
However, with DOGE, it isn’t all about dollars and cents – it’s also about community. The popular “fun coin” has a devoted cult following and even its very own Dogecoin Foundation – a non-profit organization focused on charitable endeavors. In Fact, Ethereum World News even went so far as to say, “Dogecoin may have started as a joke, but their community is now the envy of the crypto world.”
With Dogecoin, there is always something new and exciting happening, so it’s easy to miss a few things along the way. Fortunately, we here at Blockchain WTF have you covered with 3 DOGE news items that may have slipped through the cracks.
CFTC Commissioner Gives a Shout Out:
Rostin Behnam is a commissioner of the Commodity Futures Trading Commission (CFTC). Recently, Behnam discussed distributed ledger technology (DLT) at an International Swaps and Derivates Association conference held in Japan. For those unfamiliar, distributed ledger is the technology behind several cryptocurrencies – including Dogecoin.
Benham gave a speech at the event in which the commissioner had some positive things to say about DLT’s. Moreover, he even mentioned Dogecoin by name.
“Just take a moment to think about all the possible use cases for DLT from agriculture to healthcare, finance to art, CryptoKitties to Dogecoin. These innovations are more than just technology: They inspire us to find solutions for every problem or hurdle we encounter — and sometimes, they are just fun.”
Dogecoin Can Now Be Used as Collateral for Loans:
In late-October of 2018, Salt Lending announced that they would be accepting Dogecoin as collateral for loans. Salt, a site that bills itself as the “financial solutions for your blockchain assets,” also accepts digital currencies such as Bitcoin, Ether, and Litecoin.
The online lender offers terms anywhere from 1 to 36 months with rates starting at around 5.99% APR, to qualified borrowers in need of fiat currency.
In a recent statement, Salt explained their decision to accept the meme-inspired altcoin.
“Now, the company is continuing the momentum by adding a fourth collateral option for its clients. Dogecoin has a rich history and incredible support from its community, is widely traded, offers high liquidity, and is built using the Bitcoin code base — all factors that make it not only a viable asset to loan against, but an obvious collateral choice for SALT, as it enables the company to connect with the broader crypto community in a fun, approachable way.”
DOGE Helps Send the Jamaican Bobsled Team to the Olympics:
This is an older story that some crypto newcomers may have missed.
Thanks to the 1993 comedy “Cool Runnings,” everyone knows that Jamaica has a bobsled team. However, despite their notoriety, the team still didn’t have enough money to participate in the 2014 Winter Olympics.
Fortunately, the Dogecoin Foundation, with the help of some generous donors, raised $50,000 to help the young athletes from Jamaica make their Olympic dreams a reality.
While they ended up finishing 29th overall, it was still the first time the nation was able to send a team since 2002.
Helping the Jamaican bobsledders isn’t the only time the Dogecoin Foundation lent Olympians a helping hand; the community also helped raise funds for Indian Luge specialist Shiva Keshavan.
At the time, Luge had no financial backing or support in India. This was due in part to the fact that the Indian Olympic Association had been suspended prior to the Sochi Winter Olympics.
Some kind-hearted DOGE donors helped raise a significant portion of the funds Keshavan needed to participate.
As it turned out, the Indian Government, (perhaps due to political pressure) ultimately deiced to fully fund the luge team – allowing Keshavan to compete as Independent Olympic Participants.
The money raised for the Indian luge standout would end up going to the “Doge 4 Kids” campaign – an initiative designed to help both children and animals.