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Quantstamp Wins First Place at Smart Dubai Global Blockchain Challenge

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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.”

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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.

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SOURCE Quantstamp

Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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Blockchain

This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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