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
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Blockchain
Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla
Digital Payment Gateway Market
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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