Blockchain
EU Commission urged to prepare for blockchain and AI integration
The European Union (EU) has been advised to prepare for the convergence of blockchain technology and artificial intelligence (AI).
The European Blockchain Observatory and Forum (EUBOF), an initiative by the European Commission, has been monitoring and analyzing blockchain developments across Europe. On May 24, EUBOF published its final report, authored by the Directorate-General for Communications Networks, Content and Technology. The report emphasizes blockchain’s potential to integrate with other technologies and drive innovation.
EUBOF identified a strong trend of blockchain and AI convergence. It highlighted that secure storage of sensitive AI data sets on blockchain could be particularly beneficial in sectors like healthcare and finance, where data security is crucial.
Additionally, the convergence of blockchain and AI can facilitate decentralized AI networks, which can reduce the risk of data monopolies and encourage collaborative AI development. The report further noted that AI could enhance smart contract functionality, applicable across various industries.
The European Commission’s study also acknowledged the ongoing growth of the decentralized finance (DeFi) ecosystem, anticipating the launch of new protocols and applications. EUBOF expects blockchain technology’s inherent interoperability, sustainability, and energy efficiency to drive its continued adoption.
To support this development, EUBOF made several recommendations, including acting as a global knowledge hub for blockchain, strengthening Europe’s engagement with various stakeholders, and addressing issues arising from new innovations.
Coinciding with EUBOF’s report on May 24, the EU announced plans to amend the regulation governing the European High Performing Computer Joint Undertaking (EuroHPC), which oversees the use of supercomputers for AI development. EuroHPC manages nine supercomputers across Europe, developed since the initiative’s inception. The proposed amendment will support the development of new AI factories.
Willy Borsus, vice-president of Wallonia and minister for economy, research, and innovation, stated, “Unity is the strength of Europe, and together we have achieved great goals. We have seen this with the development of our world-class supercomputers, and now we want to boost the outcomes of these powerful machines through trustworthy AI.”
Under the new regulation, hosting entities can receive up to 50% of the acquisition and operational costs of AI supercomputers from the EU. Ownership of these machines can be transferred to the hosting entities five years after acceptance testing.
Source: cointelegraph.com
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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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