Blockchain Press Releases
UST Delivers API Prototypes for Retail Central Bank Digital Currency (CBDC) experimentation for the Bank of International Settlement and Bank of England
Collaboration accelerates the exploration of API solutions for retail CBDC systems
LONDON and MELBOURNE, Australia, June 27, 2023 /PRNewswire/ — UST, a leading digital transformation solutions company, has announced its role as an Innovation vendor for Project Rosalind, an experiment in application programming interface (API) prototypes for central bank digital currencies (CBDC) from the Bank for International Settlements (BIS) and the Bank of England (BOE) via the BIS Innovation Hub London Centre. Uniting leading innovators from their respective industries, Project Rosalind developed and tested prototypes for an application programming interface (API) specifically built to distribute retail CBDCs.
CBDCs have the potential to positively disrupt and drive innovation across several sectors. UST collaborated with the BIS and BoE on the development of the API layer as well as the exploration of a range of use cases for the CBDC ecosystem. A prototype API layer was developed for the project, featuring thirty-three API endpoints grouped into six functional categories. More than thirty use cases identified and explored by public and private sector collaborators served as testing and validation for the architecture and features of the APIs. The success of Project Rosalind proved that API layers can be used by central banks to safely distribute CBDC to consumers via private sector service providers while simultaneously enhancing privacy, accountability, and convertibility.
UST played a pivotal role organizing the API development work, running innovation sessions as well as building a secure and functional API layer. UST also partnered with Quant, the blockchain for finance pioneer, to provide the underlying infrastructure and blockchain platform.
In a press release by BIS, Francesca Hopwood Road, Head of the BIS Innovation Hub London Centre, said, “The Rosalind experiment has advanced central bank innovation in two key areas: by exploring how an API layer could support a retail CBDC system and how it could facilitate safe and secure CBDC payments through a range of different use cases.”
“Digital Currency has the potential to transform financial enterprises and revolutionize the end-user experience. The success of Project Rosalind with UST showcases how public-private collaboration and innovation can significantly accelerate time to market for solutions and result in tangible benefits for everyone. I’m proud of the work that we have done on this project and how it exemplifies our focus on transforming lives,” said Krishna Sudheendra, Chief Executive Officer, UST.
“At UST, innovation is at the center of all our transformation projects, and we put those principles into practice through this partnership. By leveraging our engineering experience and approaching the collaboration with an agile and aligned mindset, we were able to combine the strengths of each company to deliver an outstanding product,” said Tanveer Mohammed, Head of Innovation for UK, UST.
The prestigious London Innovation Hub Centre was established by BIS in 2021 and is one of six international nodes working to develop public goods in the technology space to support central banks and improve the functioning of the financial system.
UST’s work on Project Rosalind is just one of its many high-profile collaborations as part of its commitment to driving digital transformation. Over the past two decades UST has established itself as a key business transformation partner across a range of dynamic industries. For more information on UST and its work driving digital innovation, please visit the UST website.
Project Rosalind demonstrated that a well-designed application programming interface (API) layer can enable a central bank ledger to interact with private sector service providers to safely provide retail CBDC payments. The project has also demonstrated the potential of a CBDC system to enable a robust ecosystem to foster innovation, and to help meet the future needs of a more digitalised society. The key learnings and outcomes from the successful collaboration have been released and can be found here.
About the BIS Innovation Hub London Centre
The BIS Innovation Hub has a threefold mandate:
- We identify, in a structured and systematic way, critical trends in technology affecting central banking in different locations, and develop in-depth insights into these technologies that can be shared with the central banking community.
- We develop public goods in the technology space geared towards improving the functioning of the global financial system.
- We serve as the focal point for a network of central bank experts on innovation, with regular events to promote exchange of views and knowledge-sharing. These efforts complement the well established cooperation within the BIS-hosted committees.
The BIS Innovation Hub London Centre was established in 2021. Its current project focus areas are central bank digital currency (CBDC), next generation financial market infrastructures and supervisory technology (suptech).
To learn more, visit bis.org.
About Quant
Quant is the foundation of the blockchain economy. Assets of all kinds, from currencies to carbon credits, are being tokenised on blockchain, making their ownership immutable, their provenance traceable and their use easy to manage. Our patent-pending technology makes this simple, trusted and future-proof. We work with financial institutions and other enterprises to dramatically reduce their time-to-market, create new revenue lines, and mitigate risk by delivering enterprise-grade solutions built with security and compliance front of mind. Founded in 2018, Quant is UK-based with a US presence. We spearheaded the Blockchain ISO Standard TC307 adopted by 57 countries and solved interoperability with the creation of the world’s first interoperable blockchain platform, Overledger.
To find out more, visit quant.network
Media contact, Quant
Andrew Carrier
Chief Marketing Officer
[email protected]
About UST
For more than 23 years, UST has worked side by side with the world’s best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges, and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients’ organizations—delivering measurable value and lasting change across industries, and around the world. Together, with over 30,000 employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com
Media Contacts, UST:
Tinu Cherian Abraham
+1 (949) 415-9857
Merrick Laravea
+1 (949) 416-6212
Neha Misri
+91-9284726602
[email protected]
Media Contacts, U.S.:
S&C PR
+1-646.941.9139
[email protected]
Makovsky
[email protected]
Media Contacts, U.K.:
FTI Consulting
[email protected]
Logo: https://mma.prnewswire.com/media/1422658/UST_Logo.jpg
Blockchain
Blocks & Headlines: Today in Blockchain – January 30, 2025 (Qubetica, BTQ, Binance, EVIANCX)
The world of blockchain and cryptocurrency continues to evolve, with new projects, technological breakthroughs, and strategic investments shaping the landscape. As 2025 unfolds, the blockchain industry is being propelled forward by innovation, partnerships, and a deeper exploration of blockchain’s potential across diverse sectors. In this edition of Blocks & Headlines: Today in Blockchain, we take a closer look at the latest developments in the blockchain space, from new projects to quantum alternatives and the return of a major crypto figure.
1. Layer Qubetica: Blockchain Solutions for Real-World Use Cases
Source: The Independent
Qubetica, a new blockchain project, is making waves by developing solutions that aim to bridge the gap between blockchain technology and real-world applications. This platform is designed to provide secure and scalable blockchain solutions for businesses looking to enhance their operations with decentralized technology.
The core focus of Qubetica’s blockchain solutions lies in improving supply chain transparency, reducing fraud, and increasing efficiency across industries. One of the standout features of the platform is its ability to integrate seamlessly with existing systems, offering a straightforward approach for businesses to adopt blockchain without disrupting their current operations.
Blockchain technology has often been criticized for its complexity and steep learning curve, especially for companies that are new to the space. However, Qubetica’s user-friendly approach could help demystify blockchain for businesses across various sectors, including logistics, finance, and healthcare. This is a major shift in the blockchain industry, as more companies begin to see the potential of this technology beyond just cryptocurrency and DeFi projects.
The introduction of such accessible blockchain solutions is a significant milestone for the industry, as it demonstrates blockchain’s versatility and potential to revolutionize industries far beyond crypto.
2. BTQ Proposes Quantum Alternative to Crypto’s Proof of Work
Source: CoinDesk
As the cryptocurrency space continues to evolve, so does the need for more energy-efficient consensus mechanisms. Enter BTQ, a company proposing a quantum computing-based alternative to the widely used proof-of-work (PoW) consensus mechanism that underpins many cryptocurrencies like Bitcoin.
BTQ’s proposal aims to address one of the biggest criticisms of PoW: its environmental impact. While PoW requires vast amounts of computational power and energy to validate transactions and secure the network, BTQ believes quantum computing offers a far more efficient solution. Quantum computing, which leverages the principles of quantum mechanics, has the potential to solve complex problems much faster than traditional computers, making it an ideal candidate for powering blockchain networks without the energy-intensive demands of PoW.
This proposal could have far-reaching implications for the future of cryptocurrencies and blockchain technology. If successful, it could not only make cryptocurrencies more sustainable but also introduce a new paradigm for securing blockchain networks. Quantum computing is still in its early stages, but if BTQ’s proposal gains traction, it could signal the beginning of a new era in blockchain development.
3. Binance’s CZ Returns to Crypto with $16M Investment in Sign
Source: CoinDesk
Changpeng Zhao, better known as CZ, the CEO of Binance, has made a return to the crypto space with a $16 million investment into Sign, a blockchain-based messaging platform. This move comes after a period of relative silence from CZ, following the turbulence Binance faced in 2024 with regulatory scrutiny and market fluctuations.
Sign, which is designed to offer a decentralized alternative to traditional messaging platforms, promises enhanced privacy and security by leveraging blockchain technology. The platform is set to allow users to send encrypted messages without relying on centralized servers, giving them greater control over their data.
CZ’s investment is seen as a strong endorsement of Sign’s potential, signaling that Binance’s leadership remains confident in the future of blockchain beyond cryptocurrency trading. This move also highlights the growing interest in Web3 technologies, which aim to decentralize the internet and give users more control over their digital interactions. With CZ’s backing, Sign is poised to gain traction in the growing Web3 ecosystem.
As more blockchain applications extend beyond finance, CZ’s investment is an indication of the expanding use cases for blockchain technology, especially in areas like communication and data privacy. It also suggests that Binance, despite its recent challenges, is still positioning itself at the forefront of the broader blockchain revolution.
4. Nine Surprising Ways Blockchain Technology is Making a Difference
Source: GeekSide
Blockchain technology’s potential extends far beyond cryptocurrencies like Bitcoin and Ethereum. In a recent article by GeekSide, nine unexpected ways that blockchain is being used to solve real-world problems were explored, including in sectors like healthcare, education, and entertainment.
One of the most surprising applications is in healthcare, where blockchain is being used to track the provenance of medical supplies and pharmaceuticals. By ensuring that drugs and equipment are sourced from legitimate suppliers and are handled according to strict regulations, blockchain can help combat counterfeit drugs and improve patient safety.
In education, blockchain is being used to issue verifiable certificates and diplomas. This not only makes it easier for employers to verify candidates’ credentials but also ensures that students’ achievements are securely stored and cannot be tampered with.
The entertainment industry is also embracing blockchain for creating decentralized platforms that allow content creators to retain more control over their work and receive direct compensation for their efforts. This is a stark contrast to traditional models, where middlemen often take a significant portion of the revenue.
These applications demonstrate that blockchain’s potential is far-reaching and that the technology is being adopted across industries in ways that were once considered improbable. As more organizations realize the benefits of decentralization, blockchain will likely become a core component of many sectors.
5. EVIANCX: Enhancing Cryptocurrency and Blockchain Usage in Latin America
Source: GlobeNewswire
EVIANCX, a blockchain platform focused on enhancing the cryptocurrency ecosystem in Latin America, has made significant strides in improving access to decentralized finance (DeFi) and blockchain-based services in the region. The company’s efforts aim to address the challenges faced by Latin American countries, where economic instability, inflation, and lack of access to traditional banking services have led to the rapid adoption of cryptocurrencies.
EVIANCX is working to create a more inclusive financial system by enabling people to use cryptocurrency for everyday transactions, including remittances, payments, and savings. The platform’s innovative features also focus on providing educational resources to help users better understand blockchain and cryptocurrency, thereby empowering them to take control of their financial futures.
The growth of blockchain technology in Latin America is part of a broader global trend toward decentralized finance and digital currencies. As traditional financial institutions struggle to keep up with the demand for more inclusive and accessible financial services, blockchain-based platforms like EVIANCX are filling the gap, offering a glimpse into the future of global finance.
This is a significant development for the crypto space, as it demonstrates how blockchain can be used to empower underserved populations and create more equitable financial systems. The rise of blockchain in Latin America will likely have a lasting impact on the global adoption of cryptocurrency and DeFi technologies.
Conclusion: Blockchain’s Expanding Reach
The latest developments in blockchain and cryptocurrency show just how far the technology has come since its inception. From improving supply chain transparency and enhancing messaging security to exploring quantum alternatives to proof of work, blockchain is proving its potential to revolutionize industries across the globe. As the technology matures, we can expect to see even more innovative use cases that extend well beyond the world of digital currencies.
With companies like Qubetica and EVIANCX pushing blockchain into real-world applications and industry leaders like CZ continuing to invest in the space, the blockchain and cryptocurrency ecosystems are set to continue their rapid evolution. As blockchain technology finds its footing in sectors like healthcare, education, and communications, its long-term impact could be nothing short of transformative. The future of blockchain is bright, and its possibilities are just beginning to unfold.
The post Blocks & Headlines: Today in Blockchain – January 30, 2025 (Qubetica, BTQ, Binance, EVIANCX) appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain – January 28, 2025 (EVIANCX, Abstract, Venice, KPMG, Hashgraph Group)
Blockchain technology and cryptocurrency continue to redefine industries worldwide, driving innovation and creating new opportunities. In today’s edition of “Blocks & Headlines,” we explore major developments across the blockchain space, highlighting new projects, partnerships, and emerging trends.
Blockchain as a Catalyst for Innovation
The blockchain industry’s transformative potential was the focus of a recent report detailing how decentralized technologies are driving innovation in finance, healthcare, and supply chain management. Blockchain’s transparency and immutability are key factors enabling its adoption across diverse sectors.
In particular, the report noted the technology’s ability to enhance trust and efficiency in processes, reducing costs while improving security.
Analysis: Blockchain’s role as a catalyst for innovation is becoming more evident as industries beyond finance embrace its capabilities. The growing interest underscores the need for continued research and development to unlock its full potential.
Source: Cape Gazette
EVIANCX Enhances Cryptocurrency Usage in Latin America
EVIANCX, a leading blockchain platform, has announced new initiatives aimed at increasing cryptocurrency adoption in Latin America. The company is rolling out solutions to address challenges such as accessibility and education, targeting both businesses and individual users.
By simplifying blockchain technology and expanding infrastructure, EVIANCX seeks to empower communities and drive financial inclusion across the region.
Analysis: Latin America’s growing interest in cryptocurrency is fueled by its potential to address issues such as inflation and limited access to traditional banking services. EVIANCX’s initiatives could significantly enhance the region’s blockchain ecosystem.
Source: GlobeNewswire
Abstract: A Consumer Blockchain for the Masses
The launch of Abstract, a highly anticipated consumer-focused blockchain, marks a significant step toward making cryptocurrency more accessible. Abstract aims to simplify blockchain use cases, offering tools and applications designed for everyday users.
By prioritizing user experience and scalability, Abstract is positioning itself as a gateway for mainstream adoption of blockchain technology.
Analysis: Abstract’s approach to consumer-centric blockchain solutions highlights the industry’s shift toward usability and mass appeal. Simplifying complex systems is crucial for bridging the gap between blockchain enthusiasts and the general public.
Source: PR Newswire
Venice Launches VVV Token to Bridge Blockchain and AI
Venice, a pioneering blockchain project, has unveiled the VVV Token, designed to integrate blockchain with artificial intelligence. The token facilitates data exchange between AI systems and decentralized networks, promising advancements in predictive analytics, automation, and decision-making.
The initiative also includes partnerships with tech companies focused on AI and machine learning, ensuring robust support for the token’s ecosystem.
Analysis: Venice’s innovative fusion of blockchain and AI represents a significant trend in tech convergence. By combining these technologies, the project aims to unlock new possibilities for intelligent, decentralized systems.
Source: CoinSpeaker
KPMG India Partners with Hashgraph Group to Drive Blockchain Adoption
KPMG in India has teamed up with the Hashgraph Group to promote enterprise adoption of Hedera’s distributed ledger technology (DLT). The partnership will focus on delivering blockchain solutions tailored to industries such as finance, healthcare, and supply chain management.
This collaboration aims to leverage Hedera’s high-performance DLT to address scalability and efficiency challenges faced by enterprises.
Analysis: Partnerships like this highlight the growing interest in enterprise-grade blockchain solutions. By collaborating with established firms, blockchain projects can accelerate adoption and address real-world business needs.
Source: PR Newswire
Key Trends and Insights
- Consumer-Centric Blockchain: The launch of Abstract underscores the importance of user-friendly solutions in driving mainstream adoption of blockchain technology.
- Blockchain-AI Convergence: Projects like Venice’s VVV Token highlight the potential of integrating blockchain with artificial intelligence to create smarter, more efficient systems.
- Regional Focus: EVIANCX’s initiatives in Latin America demonstrate the growing importance of localized blockchain solutions that address specific regional challenges.
- Enterprise Collaboration: Partnerships such as KPMG India’s collaboration with Hashgraph Group emphasize the role of established enterprises in accelerating blockchain adoption.
- Broader Adoption: Blockchain’s application across industries continues to expand, showcasing its versatility and potential to drive innovation beyond cryptocurrency.
The post Blocks & Headlines: Today in Blockchain – January 28, 2025 (EVIANCX, Abstract, Venice, KPMG, Hashgraph Group) appeared first on News, Events, Advertising Options.
Announces Cornucopia: A Multi-Asset Liquidity Program for Public Mainnet Beta
GRAND CAYMAN, Cayman Islands, Jan. 28, 2025 /PRNewswire/ — The Movement Network Foundation, the organization dedicated to fostering innovation and advancing the adoption of MoveVM technology, today announced the Developer Phase of its Public Mainnet. This phase continues the momentum from December’s initial mainnet release and establishes the foundation for Movement’s Public Mainnet Beta, scheduled for launch in mid-February.
As part of this milestone, Movement Network Foundation also announced Cornucopia, a multi-asset liquidity campaign that will launch alongside Public Mainnet Beta. This comprehensive liquidity program aims to accelerate ecosystem growth by providing the essential foundation for DeFi applications, enabling deeper market efficiency, and fostering increased protocol adoption from day one.
Developed in partnership with Concrete, Veda Labs, Echelon and Canopy, the program will feature several specialized vaults: The BTC vault will feature Lombard, Lorenzo BTC and SolvBTC. The ETH vault will feature EtherFi and Renzo (ezETH). The $MOVE vault will feature Movement’s liquid staking protocols, Thunderhead, Movernance and Meridian. Anchoring the program is a $100M Ethena stable vault, demonstrating significant institutional commitment to Movement’s DeFi ecosystem.
On December 9, 2024, Movement Network’s initial mainnet beta launched with limited functionality, including permissioned smart contracts and commemorative NFTs. It also allowed foundational components to begin deploying, including follower nodes and indexers.
Today, the Developer Mainnet enables ecosystem partners to begin deploying their protocols and apps on Movement’s network. From now through mid-February, development teams will systematically implement core infrastructure and test integrations, ensuring a robust environment for Public Mainnet Beta.
MOVEMENT’S KEY MILESTONES:
Developer Mainnet (January 28):
- Core infrastructure deployment begins
- Selected partners and DeFi protocol implementation window opens
- Technical documentation and developer resources release
Public Mainnet Beta (mid-February):
- Complete network functionality goes live
- Bridge support via LayerZero integration
- Permissionless DApp deployment
“The deployment of Movement Developer Mainnet and Cornucopia marks the beginning of a new era for blockchain development. By structuring our launch to include both technical infrastructure and day-one DeFi liquidity, we’re creating an ecosystem where developers can leverage Move’s robust security features while accessing Ethereum’s massive scale. This coordinated approach ensures we’re delivering immediate value for both developers and users,” said Cooper Scanlon, Co-Founder of Movement Labs.
For more information about Movement’s Developer Mainnet, visit movementnetwork.xyz or follow @movementlabsxyz, @movementfdn, @moveecosystem @Move_Collective on Twitter.
About Movement Network Foundation
Movement Network Foundation is the driving force behind the Movement ecosystem, dedicated to fostering innovation and advancing the adoption of MoveVM technology. The foundation oversees the development of Movement Network, a next-gen solution built using MoveVM that settles to Ethereum. Through its MoveDrop program and ecosystem initiatives, the foundation supports developers, projects, and community contributors building decentralized applications. Learn more at movementfdn.xyz or follow @movementfdn on X.
Video – https://www.youtube.com/watch?v=Z2J-JCHspYc
View original content:https://www.prnewswire.co.uk/news-releases/movement-network-foundation-launches-developer-phase-of-public-mainnet-302361649.html
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