Blockchain
Bloom Technology Partners Up with Myung Shin to Develop a Web3 Smart Mobility Platform
Seoul, South Korea–(Newsfile Corp. – January 19, 2023) – Bloom Technology, the developer of the next-generation blockchain platform Locus Chain, entered into a strategic partnership with Myung Shin, an auto parts manufacturer that implements a hybrid hot stamping method to supply automotive body parts to global car manufacturers.
Myung Shin’s primary business is consignment production, development, manufacturing, and supplying car body parts of electrical vehicles to leading global automotive manufacturers. From 2016 to 2019, Myung Shin’s annual revenue growth averaged 61%, grossing 2 billion USD in revenue as of 2022.
Myung Shin and Bloom Technology agreed to co-develop the Web3 smart mobility platform based on Locus Chain.
Locus Chain, a brainchild of Bloom Technology, is a public blockchain of the next generation that solves performance and scalability issues while maintaining full decentralization. The small size of a node in the Locus Chain network enables running the blockchain even on IoT devices where maximizing performance while maintaining the size of the application low is critical.
The technology has found extensive applications in industries requiring heightened traceability and transparency, such as smart cities, transportation, smart mobility, and video games. In December 2022, Bloom Technology launched the first serverless online game, “Kingdom Under Fire: War of Heroes,” on Steam with the application of Locus Chain.
Through the partnership, Myung Shin and Bloom Technology take aim at revamping the smart mobility industry, traditionally gatekept by the entrenched manufacturing process and hardware-software bottlenecks.
CEO of Bloom Technology Sang Yoon Lee on the left, Chairman of Myoung Shin Co., Ltd Tae Kyu Lee on the right
Tae-Kyu Lee, Chairman of Myung Shin, said, “The automobile industry centered on internal combustion engine is shifting to eco-friendly energy utilization and 5G communication-based connected mobility, and automobiles are evolving into a complex space where various contents are experienced, moving away from the existing run-off-the-mill means of transportation. We intend to actively respond to the automotive industry transformation by linking Bloom Technology’s outstanding software technology and development capabilities to our company’s hardware development and production technologies that have been competitive for many years.”
Sang-Yoon Lee, CEO of Bloom Technology, mentioned, “As one the lightest and most scalable high-speed blockchains on the market today, Locus Chain is a blockchain that can be used most efficiently when the industrial environment migrates to the Web3 environment. Locus Chain maintains full decentralization, which is especially relevant in the smart mobility sector where vast amounts of data are created and transferred between the network actors.”
Contact:
Business Development Manager at Bloom technology: David Wang
[email protected]
Website: https://www.locuschain.com/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151873
Blockchain
Ebang International Reports Financial Results for Fiscal Year 2023
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
The post FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers appeared first on HIPTHER Alerts.
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
-
Blockchain Press Releases4 days ago
DeFi Lens builds advanced Generative AI for Technical Analysis
-
Blockchain3 days ago
Venezuela’s Oil Giant Turns to Crypto as US Sanctions Bite Again
-
Blockchain3 days ago
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
-
Blockchain3 days ago
Global Payment Gateway Industry Report 2024: Seamless Integration with In-Game Virtual Currency Systems Enables Payment Gateways to Contribute to the Monetization Strategies of Game Developers
-
Blockchain4 days ago
PairedWorld Earns Nomination for Best Blockchain Project for Social Impact, Secures $1.5 Million in Private Token Sales, and Welcomes Paul Taylor Who Is a Venture Partner at BlackRock to its Advisory Board
-
Blockchain1 day ago
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
-
Blockchain5 days ago
PairedWorld Earns Blockchain Award Nomination, Secures $1.5 Million in Private Token Sales, and Welcomes BlackRock Venture Partner to Advisory Board
-
Blockchain1 day ago
39% of Canada’s institutional investors have exposure to crypto: KPMG