Blockchain
Quantstamp Wins First Place at Smart Dubai Global Blockchain Challenge
Quantstamp, a Y Combinator-backed blockchain security company, won first place at the Smart Dubai Global Blockchain Challenge 2019. Organized by Smart Dubai and Dubai Future Accelerators, the Smart Dubai Global Blockchain Challenge is part of the government’s Blockchain Strategy 2020, where blockchain will be used to enhance the quality of life of its citizens.
Smart Dubai is a government office running seven key initiatives in order to make Dubai “…the happiest city on earth through technology innovation.” One of these initiatives is the Dubai Blockchain Strategy, which aims to cement Dubai’sreputation as a global leader in technology innovation and the smart economy. The Dubai Blockchain Strategy also aims to make Dubai the first blockchain-powered city by 2020 and the global capital of blockchain technology.
The core goals of the Dubai Blockchain Strategy include:
- Increasing government efficiency by using blockchain in 100% of applicable government services,
- Creating an active and enabling blockchain ecosystem for startups and businesses, and
- Leading the strategic thinking on the global progress of blockchain technology.
The United Arab Emirates, the national government, also has an aggressive blockchain strategy. By 2021, the UAE aims to record over 50% of government transactions using blockchain technology.
“The United Arab Emirates and the city of Dubai are pioneering the use of blockchain technology to make concrete improvements in the lives of their citizens,” said Richard Ma, CEO of Quantstamp. “Now that Quantstamp has won the Smart Dubai Blockchain Challenge, we will actively engage with our new network in the UAE in an effort to ensure that Quantstamp plays an active role in the implementation and security of their blockchain strategy.”
As one of 20 shortlisted startups, Quantstamp flew to Dubai to pitch its blockchain solutions at the Future Blockchain Summit. In the process, Quantstamp met with investors, networked with government officials, and connected with potential customers.
In his presentation, Quantstamp Head of Business Don Ho discussed why Quantstamp is essential for the mainstream adoption of smart contracts and blockchain technology. Smart contracts act as the back end code of blockchain technology that power most blockchain applications.
Don Ho explained that, although smart contracts experienced exponential growth over the last two years, smart contract security still needs to be addressed. Over the same two year time period, over $350 million USD worth of cryptocurrency was either lost or stolen due to security vulnerabilities in smart contracts. If blockchain security is not addressed, economies will be unable to realize the potential growth enabled by blockchain technology.
Don Ho then described how Quantstamp aims to facilitate the proliferation of blockchain technology by developing tools and services that protect smart contracts throughout their entire lifecycle. Before smart contracts are published, Quantstamp offers full service white glove audits. Leading crypto-native companies like OmiseGO, Chainlink and Sharespost trust Quantstamp to address their security needs.
Quantstamp also offers tools and services that enhance smart contract security post-deployment. Quantstamp’s monitoring tools detect irregular activity and malicious attacks on live smart contracts. Quantstamp is also developing the Assurance Protocol that allows security experts to assure the correct behavior of live smart contracts.
SOURCE Quantstamp
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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