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​​Global first: Nigeria’s Central Bank affiliate, NIBSS, joins Zone’s blockchain network

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The partnership between the Nigeria Inter-Bank Settlement System (NIBSS) and Zone represents a significant step forward in integrating blockchain technology into mainstream financial systems. NIBSS is set to utilize Zone’s blockchain network to enhance its Payment Terminal Service Aggregation (PTSA) operations, a key regulatory function in Nigeria that ensures all payments made at Point-of-Sale (PoS) terminals are routed through an aggregator before reaching the cardholder’s bank for authorization. This system is crucial for maintaining oversight and compliance with the Central Bank of Nigeria’s (CBN) payment standards.

By adopting blockchain, NIBSS is decentralizing its PTSA function, which will eliminate the existing single point of failure in transaction routing. This move not only enhances the security and efficiency of the payment process but also preserves and potentially improves the regulatory monitoring and reporting capabilities mandated by the CBN.

Zone’s blockchain network, which includes some of Africa’s largest banks, offers several advantages, including decentralized routing that allows direct exchange of financial messages between banks without intermediaries, real-time settlement for instant transaction finality, and automated reconciliation features that help resolve disputes preemptively in real-time. This partnership is expected to significantly enhance the efficiency of Nigeria’s payment systems, reduce costs, and promote financial inclusion.

NIBSS’s involvement in Zone’s blockchain network is a pioneering move that could inspire similar initiatives globally, showcasing how traditional financial institutions can collaborate with fintech innovations to improve regulatory oversight and operational efficiency. This partnership aligns with broader trends, such as Central Bank Digital Currency (CBDC) pilots and other blockchain initiatives, indicating that blockchain technology is poised to play a central role in the future of global finance.

NIBSS MD/CEO, Premier Oiwoh, emphasized that this partnership represents a milestone in driving innovation and positioning Nigeria at the forefront of the global payment space. Similarly, Obi Emetarom, CEO and Co-founder of Zone, highlighted the transformative potential of blockchain technology in enhancing regulatory oversight and improving service delivery within the financial sector. As digital and decentralized financial systems continue to evolve, such collaborations between traditional financial entities and blockchain technology are likely to shape the future landscape of global finance.

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Source: businessinsider.com

The post ​​Global first: Nigeria’s Central Bank affiliate, NIBSS, joins Zone’s blockchain network appeared first on HIPTHER Alerts.

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Blockchain

Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision

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Alpine Web3 and Everdome are joining forces to push the boundaries of fan engagement through immersive digital experiences. Building on Alpine’s storied motorsport legacy, this partnership will bring fans closer to the action with metaverse pop-up spaces and interactive events.

As Alpine Web3 shifts its focus beyond motorsport, this collaboration aims to redefine sports marketing by merging the physical and digital worlds, offering fans a dynamic and innovative way to connect with their favorite teams and events.

Alpine is a brand with a long and successful history, founded in 1955 by Jean Rédélé and quickly building success across multiple motorsports disciplines. With titles across multiple motor racing disciplines such as the World Rally Championship, 24 Hours of Le Mans, success in F1® racing and the FIA WEC Endurance World Championship, Alpine has constantly innovated for success.

Now Alpine seeks to expand their innovation beyond motorsport, looking for ways to engage new audiences with experiential sports marketing as the real and digital worlds converge.

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This two-way partnership will see Everdome work on a variety of experiential Alpine focussed destinations, kicking off with a series of metaverse pop-up spaces for Alpine Web3, released to coincide with the major sporting events across their race calendar, from Formula One® and beyond.

Everdome will also create interactive events with Alpine Web3 and their partners, allowing global audiences to take one step closer to the action as we explore the future of sports fan engagement together.

Last year, Everdome and Alpine first collaborated with an exclusive metaverse AMA with their F1® driver Pierre Gasly and Binance Fan Token, creating an interactive event where the audience could join with their avatar-likenesses inside a unique environment, bringing them closer to their racing heroes inside a digital world.

“Experiential marketing is on the rise as audiences react positively to immersive, interactive experiences which bring a feeling of deeper involvement with their sporting teams and heroes.’’ said Artur Kaczmarczyk, Chief Growth Officer for Everdome. “This new partnership will explore a future of sports fan engagement, creating a series of activations across the motorsports racing calendar to let global Alpine fans feel closer to the team, drivers and brand.’’

Beginning with metaverse spaces highlighting images and videos from Alpine inside fully interactive, avatar-led digital environments, Everdome will go on to create a dedicated and permanent metaverse footprint for Alpine Racing inside their digital headquarters, showcasing their glorious history, exciting present and promising future.

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“This collaboration with Everdome underlines our commitment to constant innovation through leveraging the latest technology”, said Guillaume Vergnas, Head of Merchandising, Licensing, Esports & Web3 at Alpine. ‘’Motorsport has always been about passion, spectacle and interaction, and with Everdome we seek to allow audiences a taste of the spectacle in a novel digital world.’’

Everdome will introduce their large community of web3 followers and metaverse pioneers to Alpine’s exciting web3 ecosystem, paving the way for some exciting cross-project collaborations, activations and more across 2024 and beyond.

The post Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision appeared first on HIPTHER Alerts.

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Blockchain Technology Market Size to Achieve USD 1,879.30 Billion by 2034

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Blockchain

Blockchain Technology in BFSI Market Is Expected To Reach a Revenue Of USD 258.2 Bn By 2033, at 46.0% CAGR: Dimension Market Research

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