Blockchain
The 22nd Edition of World Blockchain Summit is Set to Take Place in Dubai this October
Dubai, United Arab Emirates–(Newsfile Corp. – September 13, 2022) – The 22nd global edition of the World Blockchain Summit will bring together some of the world’s leading crypto influencers, policymakers, key government delegates, media, family offices, HNIs, and other curated investors among others to foster the crypto and blockchain community across the globe. The big return to Dubai will take place on October 17-18, 2022 at Atlantis, The Palm, Dubai, UAE being one of the most elite gatherings of the global crypto and blockchain ecosystem.
Figure 1
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Dubai has set its sights on becoming a global tech hub by attracting entrepreneurs, investors and even crypto influencers as marketing capitalization hits US$1.4 trillion up 86% year-to-date, with the Middle East’s blockchain market anticipated to be worth US$3.2 billion by 2023.
The UAE has begun implementing crypto regulation in the past year, issuing more than 30 exchange licenses and establishing a devoted regulatory body. But will UAE’s new regulatory structure make the market grow even faster? And will the Emirati government be able to regulate cryptocurrency quickly and effectively? World Blockchain Summit looks to answer the most pressing questions and bring together industry experts and thought leaders to understand what the future of blockchain and crypto looks like not just in the case of Dubai, but also the world.
In line with Dubai’s vision of being a global Web3 hub, leadership backing, and digital asset regulatory framework, the summit will feature presentations, use-case studies, and educational sessions by global technology providers who will be showcasing their latest innovations designed with the primary focus on enabling businesses and organizations to adopt Blockchain and Crypto solutions.
“The government’s focus on blockchain is evident in the UAE, with various initiatives and ventures related to the technology. The event will essentially explore what lies ahead for the UAE in terms of blockchain adoption in various industries, technological and regulatory advancements.” stated Mohammed Saleem – Founder, World Blockchain Summit
World Blockchain Summit – Dubai is sponsored by:
· Headline Sponsors – Decentralized Investment Group; GBR Coin
· Platinum Sponsors – Quai Network; SafuuX
· Silver Sponsors – Coinstore; Aura Dogs
Ecosystem Partner: Crypto Oasis
Exhibitosr: Dreamster; Galaxy Heroes; Khaleeji
Badge Sponsor: SafuuX
Lunch Sponsor: SafuuX
Lanyard Sponsor: Quai Network
Official PR Partner: Luna PR
Media Partners: Be In Crypto; TyN Magazine; CryptoNewZ; Crypto Academy; Women In Blockchain Canada; Bitcoin World; Coinspeaker; BinBits; Coinvestasi; Cointelegraph; The Cryptonomist; Coinstelegram; The Jordan Times; Security Middle East; Regtech Times
About World Blockchain Summit (WBS)
World Blockchain Summit is a global series of elite gatherings that take place in 19+ destinations across the world. It is a thought-leadership-driven initiative that brings together the most important stakeholders from the Blockchain and Cryptocurrency ecosystem such as investors, blockchain and crypto projects, exchanges, enterprises, government representatives, and technology leaders – to discuss and deliberate the future of the industry and the revolutionary ways it can transform businesses and government functions.
The summit also features inspirational keynotes, pitch competitions, panel discussions, investor meet-ups, project showcases, industry use-cases and a host of formal and informal networking opportunities.
Don’t miss out on the world’s premier blockchain and crypto event. Book your tickets now and avail up to 30% off on early bird offers. To book your tickets, visit: https://worldblockchainsummit.com/dubai/book-tickets
Media contact:
Elisha Patel
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136943
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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