Blockchain
DeVOTE Achieves Compliance with US Government Blockchain Association’s Election Standards
![devote-achieves-compliance-with-us-government-blockchain-association’s-election-standards](https://theblockchainexaminer.com/wp-content/uploads/2024/06/51357-devote-achieves-compliance-with-us-government-blockchain-associations-election-standards.png)
DeVOTE has achieved a significant milestone by successfully completing the Blockchain Maturity Model (BMM) assessment conducted by the US Government Blockchain Association (GBA). This assessment validates DeVOTE’s adherence to international election standards, as set by the GBA, ensuring transparency and accuracy in electoral processes.
Gerard Dache, Executive Director of GBA, highlighted the crucial role of blockchain technology in providing secure and immutable data transfers, particularly in ensuring transparency and accuracy in elections. The GBA’s Election Supplement for the BMM aims to build trust among candidates and voters by securing the chain of custody for information shared during elections.
As numerous countries, including the United States, gear up for upcoming elections, Dache emphasized the importance of the BMM Election Supplement in maintaining electoral transparency across governments and private entities involved in election processes. This standard ensures election systems uphold integrity and reliability.
Eugene Morozov, CEO of DeVOTE, expressed satisfaction with the assessment results, underscoring the validation of their mobile voting solution’s capabilities in providing secure, cryptographically protected, anonymous voting at scale. Morozov highlighted that DeVOTE’s solution addresses widespread concerns about election result disputes, aiming to enhance global trust and adoption of their technology.
Source: cointrust.com
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Blockchain
If Bitcoin Plunges Below $57,000, Here Are 3 Possible Outcomes, Ethereum ETF Approval May Be Imminent as VanEck Steps in: Crypto News Digest by U.Today
![if-bitcoin-plunges-below-$57,000,-here-are-3-possible-outcomes,-ethereum-etf-approval-may-be-imminent-as-vaneck-steps-in:-crypto-news-digest-by-u.today](https://theblockchainexaminer.com/wp-content/uploads/2024/06/51462-if-bitcoin-plunges-below-57000-here-are-3-possible-outcomes-ethereum-etf-approval-may-be-imminent-as-vaneck-steps-in-crypto-news-digest-by-u-today.png)
If Bitcoin (BTC) fails to maintain its position above $57,000, it could trigger three significant outcomes. Rather than soaring to new highs, Bitcoin has recently been on a downward trajectory, necessitating preparedness for potential scenarios. Firstly, breaching the crucial $57,000 support level would invalidate the 200 Exponential Moving Average (EMA) as a reliable support, potentially pushing Bitcoin into bearish territory and exacerbating the ongoing sell-off.
Secondly, a drop to around $56,000 might attract a surge of buyers hoping to capitalize on what they perceive as a discounted price. However, failure to sustain this level could lead to increased liquidations and mounting selling pressure, complicating efforts to stabilize Bitcoin’s price and accelerating its decline.
Thirdly, inadequate liquidity could prompt some institutional sellers to pause their operations, creating a sideways market where Bitcoin fluctuates between $55,000 and $60,000 as buyers and sellers await more favorable conditions. Continued institutional selling, however, might drive Bitcoin’s price down further, possibly towards the $50,000 mark.
In related developments, Michael Saylor forecasts a significant price boom for Bitcoin over the next decade. Binance CEO offers key insights for navigating the crypto market, while Julian Assange receives a substantial Bitcoin donation. Ripple’s CEO criticizes SEC Chairman Gary Gensler, and ‘Rich Dad Poor Dad’ author advises holding onto Bitcoin amidst volatile market conditions.
On the regulatory front, VanEck’s filing for a spot Ethereum ETF with the SEC suggests a potential approval, following a similar pattern to Bitcoin ETF approvals. This move hints at imminent approval for Ethereum ETFs by early July, reflecting growing optimism in the cryptocurrency market.
Meanwhile, Ripple’s Emi Yoshikawa highlights the rising momentum of XRP Ledger (XRPL) in South Korea, with Infinite Block expanding its XRPL-based custody services. This strategic move aims to ensure compliance with domestic regulations and support the ecosystem’s growth through consultancy services.
Source: u.today
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Blockchain
Animoca Brands aims at the stock market in Hong Kong or the Middle East in 2025
![animoca-brands-aims-at-the-stock-market-in-hong-kong-or-the-middle-east-in-2025](https://theblockchainexaminer.com/wp-content/uploads/2024/06/51464-animoca-brands-aims-at-the-stock-market-in-hong-kong-or-the-middle-east-in-2025.png)
Animoca Brands, the gaming and metaverse giant, is planning a return to the stock market by 2025, targeting the crypto-friendly jurisdictions of Hong Kong and the Middle East. This decision follows their delisting from the Australian Securities Exchange (ASX) in 2020, marking a significant shift in their strategic approach.
Considering Crypto-Friendly Stock Exchanges
Four years after being delisted from the ASX due to compliance concerns, Animoca Brands is now exploring stock exchanges in Hong Kong and the Middle East. These regions are recognized for their supportive stance towards cryptocurrency and blockchain technology. Despite holding discussions with various investment banks, Animoca Brands has yet to select a consultant or finalize the location for a potential initial public offering (IPO).
Financial Standing and Strategic Shift
As per their latest financial report, Animoca Brands holds assets totaling $2.7 billion, with $558 million in crypto assets. The company’s potential return to the stock market could be seen as a response to the ASX’s 2020 decision, which was based on the inconsistency of Animoca’s Web3 and crypto investments with the financial regulations of the time. In contrast, Hong Kong and the Middle East present more favorable environments for such investments.
Hong Kong and the Middle East: Crypto-Friendly Hubs
Hong Kong has recently approved ETFs on Bitcoin and Ethereum spot, reinforcing its ambition to become a regional crypto hub. Similarly, Dubai is working to reduce compliance costs for businesses under its Virtual Assets Regulatory Authority, creating a more conducive legal environment for crypto companies. This proactive stance contrasts sharply with the regulatory landscape in the USA.
Launch of NFT Sorah Launchpad
In June, Animoca Brands Japan launched the NFT Sorah launchpad, a platform designed to support projects and creators in selling their Non-Fungible Tokens (NFTs). This launchpad offers multifaceted support for sales and marketing strategies and features a loyalty program that provides various benefits to users. Sorah aims to connect Japan’s Web3 community with the global market, further solidifying Animoca Brands’ position in the NFT space.
Animoca Brands’ plan to return to the stock market by 2025 in more crypto-friendly jurisdictions reflects their commitment to leveraging blockchain technology for enhanced financial services. By targeting regions like Hong Kong and the Middle East, the company aims to capitalize on supportive regulatory environments, positioning itself for future growth in the rapidly evolving Web3 and crypto sectors.
Source: en.cryptonomist.ch
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Blockchain
Metallicus and Bonifii Partner to Revolutionize Blockchain in Financial Services
![metallicus-and-bonifii-partner-to-revolutionize-blockchain-in-financial-services](https://theblockchainexaminer.com/wp-content/uploads/2024/06/51466-metallicus-and-bonifii-partner-to-revolutionize-blockchain-in-financial-services.png)
Metallicus, the primary developer of Metal Blockchain, has announced that Bonifii has joined its Banking Innovation Program. This partnership marks a significant advancement and evolution of blockchain solutions initially explored by CULedger, now known as Bonifii, and underscores their continued commitment to leveraging blockchain technology to enhance financial services.
A Strategic Partnership for Innovation
Marshall Hayner, CEO of Metallicus, emphasized that this collaboration represents a significant step forward for both organizations. By working together, they aim to build on the innovative groundwork established by CULedger and further develop advanced blockchain applications tailored specifically for the financial sector. Bonifii’s commitment to utilizing blockchain technology aligns seamlessly with Metallicus’ mission to deliver secure, efficient, and scalable solutions to the market. The collaboration involves working with former CU Ledger credit union partners and utilizing Metal Blockchain technology to implement these innovative use cases, setting new standards in the financial sector. The primary goals include enhancing security, transparency, and the overall user experience for all stakeholders involved.
Bonifii’s Perspective
John Ainsworth, President and CEO of Bonifii, expressed that joining the Metal Blockchain Banking Innovation Program marks a pivotal step forward in their mission to employ cutting-edge technology to enhance financial services and protect their members from financial fraud.
Banking Innovation Program: A Gateway to Blockchain Integration
The Metal Blockchain Banking Innovation Program is designed to enable institutions like Bonifii to adopt customized blockchain solutions while ensuring compliance with regulatory standards and addressing operational demands. The program leverages Metallicus’ unparalleled expertise and the insights of a distinguished advisory board, offering innovation workshops, fintech partnerships, R&D grants, and bespoke development opportunities. This initiative positions participating institutions to lead within the dynamic financial sector.
The Banking Innovation Program supports financial institutions’ transition into blockchain technology at no cost. It focuses on addressing use cases related to Digital Identity, Single Sign-On (SSO), Private Subnets, and Tokenization of Assets. By participating, institutions are equipped with the necessary tools and resources to drive profitability, lower costs, reduce risks, and deliver superior customer experiences.
Pioneering a New Era in Financial Technology
The collaboration between Metallicus and Bonifii is expected to bring significant benefits to the financial sector. By integrating Metal Blockchain technology, the partnership aims to provide secure and efficient blockchain applications that enhance financial services. The focus on advanced applications like Digital Identity and Tokenization of Assets highlights the forward-thinking approach of both organizations.
This strategic alliance not only builds on the innovative foundation laid by CULedger but also aims to establish new benchmarks in the financial industry. The combination of Metallicus’ technological expertise and Bonifii’s dedication to leveraging blockchain technology is poised to deliver substantial improvements in security, transparency, and user experience.
The partnership between Metallicus and Bonifii represents a critical advancement in the application of blockchain technology within the financial sector. By joining forces, the two organizations aim to set new standards for security, transparency, and user experience, driving the development of innovative blockchain solutions. The Metal Blockchain Banking Innovation Program serves as a gateway for financial institutions to seamlessly integrate customized blockchain solutions, ensuring compliance and operational efficiency. This collaboration marks a significant step towards revolutionizing financial services through cutting-edge technology, ultimately benefiting all stakeholders involved.
Source: cointrust.com
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