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Venezuela: EU increases emergency assistance by €50 million

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As the social and economic crisis in Venezuela continues to worsen, the European Commission is allocating a further €50 million in emergency assistance to help Venezuelans most in need.

Today’s announcement is also part of the EU’s commitment to mobilise further assistance as stated in the Montevideo Declaration of the International Contact Group. Total EU assistance for the regional crisis now stands at €117.6 million since 2018.

High Representative/Vice-President Federica Mogherini said: “The European Union stays at the forefront of the international mobilisation to support the Venezuelan people. We are working on strengthening international cooperation to make sure that humanitarian aid, including this new commitment, reaches the people in need inside and outside Venezuela in an impartial manner and through independent channels, without any attempt to politicise the delivery of aid”.

Commissioner for Humanitarian Aid and Crisis Management Christos Stylianides added: “The EU stands by the people of Venezuela at this critical time. We are stepping up our assistance and aid operations in Venezuela and the region. Our additional support includes emergency shelter, healthcare, food assistance, nutrition services, access to safe water and sanitation, as well as children’s education.”

Last year, Commissioner Stylianides visited the eastern Colombian border with Venezuela where thousands of migrants have crossed the Simon Bolivar International Bridge. The EU has been providing support both inside Venezuela and in neighbouring countries for several years, providing funding to humanitarian partner organisations helping people on the ground.

EU humanitarian assistance is allocated following a strict needs based approach, respecting the humanitarian principles of humanity, neutrality, impartiality, and independence. It seeks to alleviate human suffering without any political, economic or other consideration.

Background

Venezuela is going through its fifth year of economic recession and hyperinflation. This situation has caused a collapse of health and education services, scarcity of food and medicines, violence and insecurity. Malnutrition rates among children are at critical levels in certain regions.

The current crisis has triggered unprecedented population displacements. According to the United Nations, an estimated 3.4 million people within the whole region, of which over 1.1 million in Colombia, more than 506,000 in Peru and 221,000 in Ecuador. Many others have fled to other countries in South America, the Caribbean and Central America. This is the largest migratory flow ever recorded in Latin America.

EU aid has helped the most vulnerable groups such as, children under five years of age, pregnant and breastfeeding mothers, the elderly, and indigenous groups. In additional, the European Union continues to be actively working towards a resolution to the multidimensional crisis in Venezuela, recognising that such a solution can only be democratic, peaceful and Venezuelan-owned. On 7 February, the International Contact Group was established. Its clear purpose is to enable the urgent delivery of assistance in accordance with international humanitarian principle, as well as establish the necessary guarantees for a credible electoral process in Venezuela.

Blockchain

Leading Decentralized Investment Banking Group – Coinstreet Partners, Awarded Asia Futurist Leadership Award

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From left : Prof. Spencer Li - Independent Director of Coinstreet Partners, Ms. Eva Law - Founder and Chairman of the Association of Family Offices in Asia, Mr. Samson Lee - Founder and CEO of Coinstreet Partners, Mr. Chan Heng Fai - Chairman of Coinstreet Partners; at the Asia Futurist Leadership Award Gala.

 

The Asia Futurist Leadership Award in the category of High Flyer Award – Outstanding Deal Originator In Asia was awarded to Coinstreet Partners by the Association of Family Offices in Asia, the Association of Private Bankers in Greater China and the Women In Leadership Association at the Asia Futurist Leadership Summit, held in Hong Kong during International Financial Week.

Asia Futurist Leadership Awards (AFLA) recognize family offices, family enterprises, industry professionals, private banks, institutions, funds and new ventures around the world that are creating a positive environment, promoting sustainability and making social impact, ultimately contributing to the creation of a better world.

The Association of Family Offices in Asia, principal organizer of AFLA, is a professional society that distinctively connects single, multi and virtual family offices as well as the industry societies in the region. It currently has more than 9000 institutional associates and hundreds of single and multi-family office members, with investment net worth typically over USD50 million.

“Digital assets are one of the transformative forces shaping the new face of the financial service industry and the economy as a whole. We would like to see more prudent players and regulation to ensure this development heads in the right direction,” said Ms. Eva Law, Founder and Chairman of the Association of Family Offices in Asia. “We are very pleased to see Coinstreet Partners win this award and look forward to their continuous effort to make digital assets widely available, and bring value to investors and to economic development.”

“Congratulations to Coinstreet for winning the Asia Futurist Leadership High Flyer Award, it recognizes them as an outstanding deal originator in Asia, and their vision to crossover Finance, Media and Technology is an exciting future trend,.” said Ms. Mercedes Ho, Executive Director of Forbes Global Allianceand the presenter of the award.

Coinstreet is a leading decentralized investment banking group and consultancy firm in the F.M.T. (Finance, Media & Tech) field, providing a business eco-system for the new era of digital economy. Coinstreet focuses on five business segments: Token Finance Consultancy, Digital Asset & Wealth Management, PR Media & Investor Relations, Digital Asset Tokenization & Trading Platform, and Decentralized Finance & DLT Solutions.

“The Association of Family Offices in Asia is a highly respectable organization in traditional investment communities,” said Mr. Samson Lee, Founder and CEO of Coinstreet Partners. “We are very honored to be the recipient of the Asia Futurist Leadership Award. It represents a significant recognition of our efforts and vision of the convergence between the traditional financial eco-system and the digital assets system.”

According to a survey from the World Economic Forum, around 10% of global GDP will be tokenized and stored on Blockchain by 2027. Coinstreet serves clients with tokenization needs ranging from stablecoins, real estate, financial services, technology, biotech, healthcare, telecommunications, energy, manufacturing, hotel, hospitality, lifestyle, gaming, media and entertainment sectors. Significant growth in the number of high-quality STO projects and global expansion of investor communities is expected, as adaption of this new corporate finance model gains popularity globally.

 

SOURCE Coinstreet Partners

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Blockchain

Monerium and Algorand enter partnership to issue e-money on the Algorand protocol

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Photo source: effectivecooperation.org

 

Monerium (https://www.monerium.com/), the world’s first authorized provider of licensed e-money for blockchains, and Algorand Inc. (https://www.algorand.com/), the world’s first open source, permissionless, pure proof-of-stake blockchain protocol, announce a non-exclusive partnership to support the Algorand protocol in 2020 with Monerium’s fully programmable and redeemable e-money.

Mainstream adoption of blockchains requires a reliable form of digital cash on-chain. Since receiving its e-money license in June 2019, Monerium has announced several B2B use cases for e-money, including a cross-border transaction in euros. Monerium now supports e-money across the EU, IcelandNorway and Liechtenstein in US Dollars, Euros, British Pounds, and Icelandic krona.

Algorand recently benefited from a significant upgrade, Algorand 2.0, which includes a number of features that enable sophisticated exchanges such as account quarantine, whitelist models, flexible asset reserve models and more.

“We look forward to supporting the Algorand protocol. Algorand incorporates key features for many mainstream use-cases, including stateless smart contracts and scaleable proof-of-stake consensus. The Algorand leadership has taken a pragmatic and deliberate approach in designing a blockchain for mainstream applications while staying close to the ethos of the open source community” states Sveinn Valfells, co-founder and CEO of Monerium. “Supporting new blockchains with mainstream relevance is a priority for Monerium.”

“Monerium and Algorand have a shared vision for real-world use cases that are enabled by advanced blockchain technology,” said W. Sean Ford, COO of Algorand, Inc. “We are thrilled that Monerium will be bringing their solution for e-money to Algorand and we look forward to our community’s ability to leverage the technology for straightforward regulatory compliance.”

 

SOURCE Algorand Foundation

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Blockchain

Kadena Launches Public Chain with Smart Contract Transactions, Completing Industry’s First Hybrid Blockchain

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Kadena, the first blockchain technology company to come out of JP Morgan’s Blockchain Center for Excellence, has announced the full launch of its public blockchain. Kadena’s public blockchain is first to market as a sharded Proof of Work Layer 1 network. Following the start of genesis mining in October 2019, Kadena has surpassed having two million blocks mined at hash rates as high as 40 TH/S. Today’s launch includes full transactions and the ability to write smart contracts. The latest functionalities of the network complete Kadena’s hybrid blockchain platform. Kadena is already delivering interoperability, scalability, and security across industries including financehealthcare, and insurance.

The hybrid blockchain supports interoperability using Pact, Kadena’s open-source, Turing-incomplete smart contract language with Formal Verification. The simple smart contract language is powerful enough to code complex contracts and execute multi-party transactions. Enterprises and developers alike will find that applications once considered too difficult to build are now achievable with Kadena. Removing the complexity and vulnerability of other smart contract languages, Pact advances secure and legible transactions.

“Despite blockchain having immense potential, our experience building JP Morgan’s first blockchain showed us its limitations,” said Founder and President Stuart Popejoy. “Launching a fully functional hybrid blockchain which seamlessly integrates a public chain with a private network is a significant step forward in reimagining what applications can do on-chain.”

Kadena’s public blockchain functions through a braided, parallelized Proof of Work consensus mechanism, the only protocol that has been validated in the market. The architecture enhances throughput and scalability while preserving the reliability of Bitcoin. Kadena Kuro, the platform’s next-generation private blockchain, overcomes the challenges of security, scalability, and speed found in existing blockchains such as Ethereum.

“We’ve solved the scaling challenges of Bitcoin with parallel Proof of Work chains while addressing the security issues of Ethereum with Pact,” said Founder and CEO Will Martino. “Today’s launch of our public blockchain with smart contract transactions, which completes our hybrid platform, advances mainstream adoption. We’re excited to see how Kadena’s blockchain will empower entrepreneurs and enterprises to bring in Economics 2.0.”

The launch comes after Kadena completed a year full of milestones in 2019, including the news that next-generation blockchain networks such as Cosmos and Polkadot are looking to implement the Pact smart contract language. Businesses exploring deployment of applications on blockchain were able to utilize the speed and security of Kadena Kuro when it got listed on AWS Marketplace and Azure Marketplace with free community editions.

 

SOURCE Kadena

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