Blockchain
OCEANPEC announces partnership with ADNOC, Cuallix Bank ahead of WRO ecosystem launch
Reading Time: 2 minutes
The World Resource Organization (WRO) was established by OCEANPEC (Singapore) to build an all-inclusive blockchain ecosystem that will combine finance, resources and high-technology services all under one roof. Ahead of the ecosystem launch in May 2019, OCEANPEC is pleased to announce that it has signed partnerships with two prestigious companies in the resource and finance sectors: Abu Dhabi National Oil Company (ADNOC) and Cuallix Bank. Partnering these two well-recognized entities will be a tremendous boost in strengthening the WRO global network.
OCEANPEC’s business operations currently focus on the import and export of Liquefied Natural Gas (LNG) and other energy commodities. Other corporate areas include oil refining, natural gas sales, power stations, wholesale of oil products, and energy equipment manufacturing. To date, OCEANPEC has 10 local offices working on natural gas, crude oil, precious metals and gemstones in Mainland China, Singapore, Hong Kong, Mongolia, South Korea, United States(Houston), North America (Mexico), Middle East (Abu Dhabi), Australia (Darwin), and Switzerland.
As its business needs are rapidly expanding, OCEANPEC has been looking into how to adapt and adopt blockchain technology into its core business functions. This technological shift towards blockchain is extremely important in the oil and energy sector, which involves resources, financing and the need for high-level security. As the WRO ecosystem was created to encompass these functions, having ADNOC and Cuallix Bank — both leaders in the oil and finance sectors — on board will prove to be an asset.
This is especially more so as the WRO intends to integrate crude oil, LNG, gasoline and diesel settlement into its ecosystem by Q3 2019.
ADNOC is state-owned, and the largest crude oil company in the United Arab Emirates. It also provides world-class shipping, maritime, port, logistics and oil field services to international customers. In the resource industry, which includes the likes of OCEANPEC and ADNOC, the blockchain technology will come in handy for logistics and raw material procurement departments, for example. Through the use of blockchain technology’s smart contracts which are decentralised and transparent, electronic evidence and data (such as invoices, purchase records, bills of lading) transmission/storage, supply chain management, goods and authentication can be processed in the WRO ecosystem. With the support of ADNOC coming on board, this will encourage other oil and energy giants to be part of the WRO ecosystem.
Cuallix Bank, based in the United States, is the first financial services organization to collaborate with Ripple (XRP), another blockchain company, to offer cross-border payments between America and Mexico. Having Cuallix Bank as a partner will definitely help build a robust payment and cross-border remittance infrastructure in the WRO ecosystem. With blockchain technology, all financial transfers in the resources industry will be made swifter, traceable, and at lower transaction costs.
As part of its vision, the World Resource Organization will continue to work to build on more relevant partnerships to scale up its ecosystem for global users and investors.
SOURCE World Resource Organization
bybit lucky
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.
-
Blockchain5 days agoBridging Innovation and Regulation: How Yellow Network is Transforming Non-Custodial Trading in a Pro-Crypto Future
-
Blockchain6 days ago
Prosper Adds 7,000 More ASIC Miners from BITMAIN To Drive Tokenization of Hashrate as Multichain RWA ; Targets 170MW Capacity With New Strategic Round
-
Blockchain Press Releases6 days agoHTX Ventures Identifies Five Rapidly-Growing Sectors in 2024, Expects Positive Crypto Regulations Driven by Trump Next Year
-
Blockchain6 days ago
Blocks & Headlines: Today in Blockchain (Reserve Bank of India (RBI), Aethir, Blockchain Center Abu Dhabi, Qubetics, )
-
Blockchain3 days ago
50,000+ Mined Coins and 100,000 New Users: EMCD Summarizes 2024
-
Blockchain6 days agoLoan Brokers Market Opportunities and Strategies Report to 2033 – Loan Brokers Market Poised for Strong Growth, Forecasted to Reach $947.9 Billion by 2033
-
Blockchain5 days agoBuilding Bridges in Crypto: Bybit Sparked Dialogues and Joined Industry Leaders at Bitcoin MENA
-
Blockchain3 days ago
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
