Blockchain
LABEL Foundation Integrates with Binance Custody to Offer Cold Storage Support for $LBL Token
Tortola, British Virgin Islands–(Newsfile Corp. – June 8, 2022) – LABEL Foundation has announced that it has officially integrated with Binance Custody to take advantage of their highly secure cold storage solution. Thanks to the new integration, which provides support for the $LBL token via Binance Custody, security will no longer be an issue as the tokens will be stored using the institutional and insured cold storage service. Moreover, both BEP-20 and ERC-20 are available for deposits as well as withdrawals. If all goes well, the LABEL team hopes to further expand its partnership with the Binance ecosystem in the future as well.
LABEL Foundation Integrates With Binance Custody
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A budding relationship
Binance Custody was only released in 2021, but there is nevertheless plenty of faith in the high level of user protection being offered by the service. LABEL had been searching for a reliable custody service for quite a while, and when choosing a custody service, the main aspects that LABEL primarily focused on were security and insurance coverage.
Keeping that in mind, Binance Custody indeed appeared to be the optimal choice as it uses industry-leading secure MPC (Multi-Party Computing), threshold signing schemes, and offline key-sharing storage to decentralize fund management, all of which are vital components to ensuring the safety of users’ digital assets.
Also, in terms of insurance, Binance Custody obtained insurance from Arch Syndicate 2012 at Lloyd’s of London, which was mediated by Lockton’s Emerging Asset Protection (LEAP), the world’s largest independent insurance broker, to further enhance investor protection.
The benefits of transferring ownership of digital assets to Binance Custody are hence not only limited to security from hackers and malicious individuals, but also delegation of authority. By sharing access with the custodian and delegating this authority, users can thus potentially prevent the loss of assets in the event of lost cryptographic inheritance, private passwords, or any other kind of data loss or hack.
Choosing Binance Custody was an easy choice for LABEL Foundation because of its aforementioned safe cold storage solution. LABEL integrating with Binance Custody therefore provides another level of security by protecting users’ $LBL tokens with the institutional-grade digital asset management infrastructure and security features.
This provides some much-needed peace of mind to LABEL’s customers, as reliable security measures have quickly become mandatory for any project in this industry. According to CSO Hyung Soon Choi, there will also be discussions on potentially considering further strategic collaboration with Binance Custody and the broader Binance Ecosystem in the foreseeable future.
About LABEL Foundation
LABEL Foundation is a blockchain-oriented NFT copyright fee sharing platform that supports investment, distribution and advertising processes along with removing significant barriers to modern content production and investment.
Essentially, LABEL Foundation represents an incubation system designed to disrupt the DeFi industry and it uses the native $LBL token, which is Ethereum-based governance and utility token, to do so. Furthermore, the tokens are mainly used to establish the basic token economy of the platform by acting as payment, staking and governance entities.
Lastly, the DAO (Decentralized Autonomous Organization) voting infrastructure allows contributors to claim profits via the non-fungible token shareholding system, which adds a strong sense of community in addition to the aforementioned security features.
For more information and regular updates, be sure to check out the official website and Medium, Telegram and Twitter channels.
Contact information:
Hyungsoon Choi
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126540
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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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