Blockchain
Strengthening Blockchain Ties: Bharat Web3 Association Partners with International Bodies
The Bharat Web3 Association (BWA) has signed a memorandum of understanding (MoU) with the Digital Economy Council of Australia (DECA) and Asosiasi Blockchain Indonesia. This collaboration aims to foster innovation and speed up the global adoption of blockchain technology.
Key Objectives of the MoU:
– International Standards Alignment: Ensuring that members follow global best practices in blockchain.
– Knowledge Sharing: Promoting the exchange of insights and expertise within the industry.
– Industry Development: Supporting the growth of blockchain within India’s Web3.0 landscape.
– Global Standards: Working towards creating unified standards for blockchain implementation.
The MoU, signed on September 25, 2023, is part of BWA’s continuous effort to expand its global partnerships.
Industry Insights:
Dilip Chenoy, BWA’s chairperson, highlighted India’s strength in the digital economy, stating, “India is the third-largest digitalized economy in the world, providing fertile ground for Web3 innovation and positioning India as a global hub for Web3-first products and services.”
Previous Collaborations:
Prior to this agreement, BWA had partnered with industry organizations in Singapore and Japan, underscoring its commitment to creating a global blockchain ecosystem.
Advocacy for Blockchain Adoption:
BWA has been a strong advocate for the use of blockchain technology, promoting a regulatory sandbox approach, which allows businesses to test new ideas under regulatory oversight. Key initiatives include:
– Working with the Telangana government to transfer funds to women and tokenize real estate using a regulatory sandbox.
– Deploying blockchain projects with the governments of Maharashtra and Rajasthan to improve transparency in government programs and auditing.
– Proposing the establishment of a regulatory sandbox to the Karnataka government to promote blockchain solutions in governance.
Web3 Growth in India:
India’s Web3 ecosystem is thriving, with over 1,000 Web3 startups and a growing share of global Web3 developers, rising from 3% in 2018 to nearly 12% in 2023. This highlights the country’s growing potential in the Web3 space.
Key Highlights:
– MoU Signed: BWA has partnered with DECA and Asosiasi Blockchain Indonesia to drive blockchain adoption.
– Focus Areas: International standards alignment, knowledge sharing, industry development, and the establishment of global standards.
– Founding Members: Includes major firms like CoinSwitch Kuber and Polygon.
– Blockchain Advocacy: BWA promotes blockchain adoption through regulatory sandboxes, partnering with state governments.
– Web3 Growth: India has over 1,000 Web3 startups and is steadily increasing its global developer share.
This partnership is a significant step in positioning India as a key player in the global Web3 landscape, further boosting blockchain adoption and innovation.
Source: pune.news
The post Strengthening Blockchain Ties: Bharat Web3 Association Partners with International Bodies appeared first on HIPTHER Alerts.
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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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