Blockchain
Buzzmint Announces Launch of Project IMI Wales, A New Token-Based Loyalty Platform to Revitalise Welsh Communities
![buzzmint-announces-launch-of-project-imi-wales,-a-new-token-based-loyalty-platform-to-revitalise-welsh-communities](https://theblockchainexaminer.com/wp-content/uploads/2024/06/51134-buzzmint-announces-launch-of-project-imi-wales-a-new-token-based-loyalty-platform-to-revitalise-welsh-communities.jpg)
Buzzmint, in partnership with MWT Cymru (Mid Wales Tourism) and supported by Powys County Council, is set to revolutionise the local loyalty program landscape with the launch of IMI Wales. This innovative platform, backed by the Shared Prosperity Fund (SPF), is designed to foster local community engagement and economic growth through a unique token-based rewards system, built on the BSV Blockchain.
Scheduled for initial testing in Summer 2024 to select towns, with plans for further national rollout in 2025, IMI Wales aims to redefine the loyalty experience. Unlike traditional programs focused on supermarkets or specific brands, IMI Wales promotes a community-centric approach, supporting independent businesses and celebrating Welsh culture.
Key Features and Benefits of IMI Wales
IMI Wales stands out with its direct digital link between businesses and customers, facilitated through the IMI tokens. These tokens can be created by participating businesses, acquired by shoppers on the IMI platform and redeemed in-store. IMI users can also earn or be rewarded with airdropped IMI tokens by shopping at local businesses and participating in local events and used for personalised rewards. This not only drives local engagement but also bolsters the economy by incentivising spending within community bounds.
Partnerships and Strategic Support
Developed with the expertise of MWT Cymru and supported by strategic partnerships, IMI Wales is positioned at the forefront of digital innovation in community development and tourism.
Zoe Hawkins, Chief Executive of MWT Cymru, added that “MWT Cymru is thrilled to collaborate with Buzzmint on this groundbreaking initiative. By leveraging cutting-edge blockchain technology, IMI Wales represents a significant step forward in how we engage and support our local communities and businesses. This platform is more than just a loyalty program; it’s a commitment to revitalising and uniting Welsh communities through innovative digital solutions that highlight our rich cultural heritage and drive economic growth.”
A Word from Buzzmint
“We are absolutely delighted to work with MWT Cymru with the support of the Welsh Government’s SPF to develop, deliver and showcase how blockchain technology and the power of utility-led tokenisation can open up opportunities—not only to drive footfall back into the heart of Welsh communities but also to help digitally unite these communities,” said Charles Symons, Co-Founder of Buzzmint.
“MWT have always been pioneers in introducing new technology platforms to help their members develop and thrive, and we look forward to developing further tokenisation opportunities in the tourism sector that bring together tourism operators and the communities that host them.”
Looking Ahead
Buzzmint is committed to the success of IMI Wales as the first of its kind loyalty and rewards program specifically for Welsh town-based businesses. Following this, Buzzmint plans to establish Wales as a leader in Web 3, tokenisation, and its significant benefits, particularly in the tourism sector.
The post Buzzmint Announces Launch of Project IMI Wales, A New Token-Based Loyalty Platform to Revitalise Welsh Communities appeared first on HIPTHER Alerts.
Blockchain
Global Fintech Market Size To Worth USD 1009.10 Billion By 2033 | CAGR Of 14.01%
Blockchain
Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches
![legal-luminary-sarah-brennan-champions-pioneering-crypto-regulation-approaches](https://theblockchainexaminer.com/wp-content/uploads/2024/06/51351-legal-luminary-sarah-brennan-champions-pioneering-crypto-regulation-approaches.png)
Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.
In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.
While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.
Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.
Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.
Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.
Source: shakirabrasil.info
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Blockchain
Italy Ramps Up Crypto Oversight in Line with MiCA
![italy-ramps-up-crypto-oversight-in-line-with-mica](https://theblockchainexaminer.com/wp-content/uploads/2024/06/51353-italy-ramps-up-crypto-oversight-in-line-with-mica.png)
Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.
For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.
Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.
Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.
This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.
Source: coinfomania.com
The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.
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