๐Ÿ™๏ธ World's First Bitcoin-Backed City to be in El Salvador Soon at a Cost of 300,000 BTC

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ROI Overload is a daily radio show/video podcast show focused on the latest in trending topics in business, tech, finance and startups hosted by Scott D. Clary (@scottdclary).

Available in audio (roioverload.sounder.fm) or video (youtube.com/c/scottdclary).

Welcome to Roy Overload daily business, tech and finance news. I'm Scott declary. This is what's making news today. The world's first bitcoin back city is going to be an El Salvador at a cost of three hundred thousand bitcoin. Astra finally succeeds at launching its rocket into orbit. Amazon executives in India are charged concerning a marijuana case. And after two thousand and nineteen, the risk of cyber security breaches and attacks is up by four hundred and ninety percent from mid sized businesses. Let's jump right into it. So first story of the day. El Salvador is still proving to be one of the most bitcoin friendly countries in the world. Now you, Bou Kelly. The country's president has doubled down on efforts to turn El Salvador into a leading hub and basically just a state evangelist for the CRYPTO space. During his speech at an event in El Salvador, becaully said that he is planning to develop a city in the eastern part of the La Union. The power supply would be provided through volcanoes...

...and the residents would only have to pay value added tax, as there would be no other taxes in this newly planned city. Fifty percent of all income derived from the value out of tacks would go towards funding the bonds based on which the city will be built. The rest of the VAT will go into on other crucial services to support the city. The bonds issue to support the creating of the infrastructure for the city will be bitcoin backed, and Bo Kelly said that he's estimating that the infrastructure costs to create all of this will be roughly three hundred thousand bitcoins, or seventeen point seven billion dollars. Moving on to the next story, Astra finally succeeds at launching its rocket into orbit. So many private companies are vying to dominate the private space rocket travel market. It's one of the most hotly contested sectors in the US today, as companies aimed to push for government contracts. Yet the list of private companies that have...

...actually succeeded in setting their rockets into orbit is still small. The recent company that registered its name on this coveted list of companies that have actually gotten a rockety space is the California based start up Astra. On Saturday, ASTRAS LV zero zero seven rocket was carrying a US military payload. It took off at one hundred and sixteen am sharp from the spaceport complex on Kodiak Island in Alaska. ASTRAS rocket entered orbit, which is five hundred kilometers above earth. That's the threshold that the consider entering orbit nine minutes after taking off. This is a huge deal for the Astra team, as this success comes after multiple failures at launching their rocket into space. Some Amazon executives are in hot water. So the ECOMMERCE giant found itself in the crosshairs of the Indian police. In the state of Madia Pradesh, known as the heart of India, police file...

...the case against Amazon India directors under India's narcotics law, allegedly for failing to stop the trade of marijuana through its e commerce platform. Police did not disclose the name and the number of Amazon executives that they have filed a case against, but they said that the statements from the executives were contradictory, whatever that means. The reports indicate that police have nabbed two individuals in possession of twenty kilograms of marijuana last week. The police claimed that these individuals are trading marijuana through Amazon's ECOMM platform. And lastly, not great news for smaller businesses and mid sized businesses. After two thousand and nineteen, the risk of cybersecurity breaches has gone up by four hundred and ninety percent for midsized businesses. So coro released a new security report where it disclosed at the likelihood of mid sized businesses facing cybersecurity attacks has increased by four hundred and ninety percent since two thousand and...

...nineteen. To prepare the report, Coro surveyed four thousand thousand midsize businesses with between one hundred two one hundred and fifty employees. The growth in the number of cybersecurity attacks on midsized businesses puts them on equal footing with large enterprises. But the issue is that these midsize companies do not have the resources at their disposal to properly tackle and take on these cyber attacks. The new report also states it's the number of cyber attacks spikes during the holiday season has grown considerably. These attacks are growing as generic attacks drop sixty eight percent compared to eighty six percent in two thousand and twenty. These are all hacking attacks that have grown versus generic cybersecurity attacks, which I'm assuming, would be like a De dos attack or something along those lines, as opposed to the hacking attacks could be fishing or ransomware. And in other news from around the Internet, Gen Z is leads in terms of their contribution to the ethical hacking space. So a new report signs a light on the demographics of ethical hackers. It discloses...

...that fifty four percent of ethical hackers are Gen z whereas thirty six percent are millennials. And ethical hacking is more or less just learning tools, tricks and processes that will allow you to combat malicious black hat hackers. anyways, that's it for today. Hope you enjoy. If you found value in this, share this with one other person. They can go subscribe for daily business. That can finance news. That newsletter to Roy overloadcom. Have a great day. I'll see it tomorrow.

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