Blockchain
EU Premiere: Web3 Decentralized Domains and Institutional NFT Marketplace Under Development by Romania’s ICI Bucharest Using Elrond Network Blockchain Technology
Bucharest, Romania–(Newsfile Corp. – June 14, 2022) – Romania’s National Institute for Research and Development In Informatics – ICI Bucharest (ICI) announces that work is underway for building an institutional NFT marketplace and a decentralized Domain Name System (DNS/TLD) based on the highly scalable and carbon-negative Elrond Network blockchain.
Both initiatives are the first of their kind in the European Union and are being developed in parallel by experts from Romania’s ICI Bucharest in collaboration with Elrond Network developers.
“The goal is to evolve the collaboration between citizens and institutions using a modern digital framework. Web3 technologies can transform public administration and help its institutions and processes leap forward in terms of efficiency and speed, while decreasing costs, overhead and excessive bureaucratic activities,” said Adrian Victor Vevera, General Director of ICI Bucharest.
The National System for Issuers and Digital Assets will be the first of its kind in Romania and likely the European Union. It is being created as a public – institutional marketplace for digital assets that will use blockchain-based Decentralized Identity and Non-Fungible Token (NFT) technology to digitize, access, transfer and store official documents, property deeds or various certificates.
In their cryptographically secured format, the documents will retain their validity and utility, while circulating at higher speeds, reduced costs and increased security. This standardized format will simplify the integration with new systems and act as a facilitator for the full digital transformation of public administration and governance.
ICI is also looking to leverage the scalable Elrond Network to build a decentralized Domain Name System (DNS) and Top-Level Domains (TLD).
By deploying this essential layer to digital communication on top of Elrond’s 3200 validators network, ICI is looking to strengthen the security and availability of critical public resources by overcoming the limitations of the legacy DNS and TLD systems, as well as the potential existing vulnerabilities of the actual centralized architecture.
“The intersection of governance and technology creates a universe of opportunities for advancing society. It is the right time to take the initiative along with our partners from ICI and embed Elrond Web3 innovations into the next generation of national and institutional frameworks,” said Beniamin Mincu, Elrond Network CEO.
About the National Institute for Research and Development in Informatics – ICI Bucharest
ICI Bucharest was founded in 1970 and is the most important institute in the field of Research, Development and Innovation in Information and Communication Technology (ICT) in Romania, supervising the Romanian National Register for Domain Names – RoTLD – the official authority that manages the .RO Top Level Domains by creating, implementing and maintaining the software systems, databases and infrastructure necessary for the .ro to be existent on the Internet.
The long activity of ICI Bucharest is signified by the realization of Research and Development projects in the field of IT&C, supporting the development of the national information society. ICI Bucharest’s mission is to aggregate excellence in research and innovation, for the development of the knowledge-based economy in Romania and for a better integration in the European and international research space.
About Elrond
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
Contact for Elrond & ICI Bucharest
MarketAcross PR
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127654
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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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