Blockchain
Conflux Network event in Shanghai examines blockchain use in international trade and exchange
China continues to explore the potential benefits of blockchain technology despite its well-known dislike of speculative digital asset trading. This week, representatives from the Conflux Network project announced they had participated in a demonstration meeting for a “super-large-scale blockchain basic platform for the Belt and Road” in Shanghai.
Other attendees at the event on March 30 included representatives from the China Academy of Information and Communications Technology, Shanghai Jiao Tong University, Fudan University, and Shanghai Maritime University. According to Conflux Network’s
announcement, others from China’s Industrial Development Promotion Center of the Ministry of Industry and Information Technology and the Shanghai Science and Technology Commission were also present.
Launched in November 2020, Conflux Network describes itself as a “PoW/PoS hybrid blockchain without barriers.” Like BSV blockchain, it claims “unmatched scalability,” security, low fees, a focus on openness but with regulatory compliance, and parallel transaction processing using “tree graphs” to lower confirmation times. Its native asset is the $CFX token.
Conflux also said the event was based on a discussion of requirements related to China’s international “Belt and Road” initiative, a government program to streamline physical and electronic trade routes. The aim was to develop a blockchain platform and demonstration applications that fulfilled these needs, supporting “multi-country deployment and multi-subject collaborative supervision” and “cross-border cooperation in the economic, trade and cultural fields.” (Any open-blockchain network would support these functions.)
Some technology press outlets claimed the event was further proof the Chinese government remains interested in blockchain technology despite its speculative asset and mining bans over the years (which it is). However, this event should not be seen as an official government endorsement of any one blockchain over others. Its use of the term “Belt and Road” in the event’s title is simply stating its focus and should not be taken as a claim to be an official component of the B&R initiative.
Yes, China is still looking at blockchain
To be fair, Chinese authorities have never dismissed blockchain technology, despite years of the “China bans BTC” media trope. Their main objection was always to the wild market speculation (and associated scams) that came with digital assets. With increasing amounts of new wealth in the population forming a relatively naive retail investment market, China had valid concerns that millions could lose their life savings trading digital trinkets—and there had already been examples of this. There were also concerns that block reward mining operations were exploiting energy subsidies in some regions to enrich themselves.
China has maintained an interest in blockchain technology development despite its restrictions on ICOs and other speculative digital assets. The country has hosted several conferences over the years aimed at exploring what other benefits blockchain could provide.
The People’s Bank of China (PBoC) has conducted its own research into using digital currencies since 2014—the same year the first “China bans Bitcoin” rumors arose—and for several years hinted it was developing a CBDC (central bank digital currency) of its own at some point.
That currency, officially named “digital renminbi (RMB)” and also commonly called the “digital yuan” and “e-CNY” became the first CBDC-like asset to undergo public use trials in 2020. E-commerce and IT firms Alibaba (NASDAQ: BABA) and Tencent (NASDAQ: TCTZF) joined in, as did Huawei, JD.com, and credit card company UnionPay, as well as big-brand merchants.
Even though the digital RMB gets frequent press in blockchain industry media, it does not run on a blockchain base. The PBoC has also said the currency is intended to make local cash transactions easier in daily life, but it isn’t intended to replace bank account savings. The central bank has also said the digital RMB shouldn’t be used internationally and (in answer to other rumors) isn’t meant to replace globally-used currencies like the U.S. dollar.
Source: coingeek.com
The post Conflux Network event in Shanghai examines blockchain use in international trade and exchange appeared first on HIPTHER Alerts.
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
-
Blockchain4 days agoBinance Cleared to Invest Customer Assets in US Treasury Bills: What It Means for Crypto and Dollar Dominance
-
Blockchain4 days ago
Deep Custodian Limited Obtains Hong Kong TCSP License, Authorized to Provide Compliant Crypto Asset Custody Services
-
Blockchain2 days ago
Blockchain Intelligence Group adds additional modules and launches its Certified Cryptocurrency Investigator – Advanced Series
-
Blockchain Press Releases2 days agoBybit Web3 Livestream Explores Cultural Meme Coins and Other Trends
-
Blockchain Press Releases2 days agoBybit Surges to Second Place in Derivatives Market, Solidifying Position as Global Crypto Trading Leader
-
Blockchain3 days agoCoinW Continues Expedition Trek And Double Down On Presence At ETH-Native Events
-
Blockchain3 days agoBitAngels Network Hosts Blockchain Pitch Competition in Nashville
-
Blockchain1 day ago
Kevin O ‘Leary Addresses Crypto Investing, Ethereum ETFs, and SEC Chair in Recent Interview
