Blockchain
OCEANPEC announces partnership with ADNOC, Cuallix Bank ahead of WRO ecosystem launch
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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
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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