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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.”

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

Blockchain

Decentralized science can be the next big thing for blockchain utilization

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Decentralized science leverages blockchain’s decentralized ledger technology to address common challenges faced by researchers, including data integrity, reproducibility, and collaboration. By recording scientific data and research findings on a tamper-proof blockchain, researchers can ensure the integrity and authenticity of their work, reducing the risk of data manipulation or fraud.

Moreover, blockchain enables transparent and traceable peer review processes, allowing researchers to validate and verify each other’s work more effectively. This enhances the credibility and reliability of scientific publications, fostering trust within the scientific community and among the general public.

Blockchain-based platforms also facilitate greater collaboration and knowledge sharing among researchers, breaking down traditional barriers to access and enabling interdisciplinary collaboration. Through decentralized science platforms, researchers can securely share data, resources, and expertise, accelerating the pace of scientific discovery and innovation.

Despite its potential benefits, decentralized science still faces challenges, including regulatory uncertainties, technological barriers, and resistance to change within the scientific community. However, as blockchain technology continues to evolve and gain acceptance, decentralized science is poised to emerge as a transformative force in scientific research and collaboration.

Source: cointelegraph.com

The post Decentralized science can be the next big thing for blockchain utilization appeared first on HIPTHER Alerts.

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Blockchain

How blockchain-based voting can restore trust in the electoral process

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In this article we’re discussing the potential of blockchain-based voting systems to rebuild trust in electoral processes. These systems leverage blockchain technology’s transparency and immutability to address concerns surrounding election integrity and voter fraud.

Blockchain-based voting solutions offer several advantages over traditional methods, including increased transparency, security, and accessibility. By recording votes on a decentralized ledger, blockchain ensures that each vote is securely stored and tamper-proof, reducing the risk of manipulation or fraud.

Moreover, blockchain-based voting systems can enhance voter participation by providing greater accessibility to remote and disenfranchised populations. Through secure digital platforms, voters can cast their ballots from anywhere, reducing barriers to participation and promoting inclusivity.

Despite the potential benefits, the adoption of blockchain-based voting systems faces challenges, including regulatory hurdles and technological limitations. Governments and electoral authorities must navigate these obstacles to implement effective and trustworthy voting solutions.

Overall, the article highlights the transformative potential of blockchain technology in restoring trust and integrity to electoral processes. By embracing innovative voting systems built on blockchain, societies can uphold democratic principles and ensure fair and transparent elections.

Source: tradingview.com

The post How blockchain-based voting can restore trust in the electoral process appeared first on HIPTHER Alerts.

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Blockchain

Binance Integrates USD Coin (USDC) on CELO Network

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Binance has announced the integration of USD Coin (USDC) onto the Celo network, marking a significant step forward in expanding the utility and accessibility of USDC within the cryptocurrency ecosystem.

This integration enables users to seamlessly transfer USDC tokens across the Celo network, leveraging its high-speed and low-cost transactions. By integrating USDC on Celo, Binance aims to enhance the interoperability and accessibility of USDC, making it easier for users to engage with decentralized finance (DeFi) applications and access financial services on the Celo network.

USDC is a stablecoin pegged to the US dollar, offering users a reliable and transparent means of transacting value on the blockchain. With its integration on the Celo network, USDC gains access to Celo’s ecosystem of decentralized applications (DApps) and services, further expanding its utility and adoption.

The collaboration between Binance, USDC, and Celo underscores the growing importance of interoperability and cross-chain compatibility within the cryptocurrency space. By leveraging the strengths of each network, users can benefit from enhanced liquidity, accessibility, and functionality when using USDC on the Celo network.

Overall, the integration of USDC on the Celo network represents a significant milestone in advancing the capabilities of stablecoins and decentralized finance, providing users with greater flexibility and choice in managing their digital assets.

Source: blockchain.news

The post Binance Integrates USD Coin (USDC) on CELO Network appeared first on HIPTHER Alerts.

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