On July 12, the CEIBS Insights 2019 Europe Forum series made its latest stop in Brussels for a special roundtable workshop on the theme of The 4th Industrial Revolution: Opportunities and Challenges for Europe and China. The event, co-hosted by European economic think tank Bruegel, brought together nearly 100 representatives from CEIBS, the European Commission, the Mission of the People’s Republic of China to the European Union, and the EFMD, among others, for discussions exploring how China and Europe can balance policy and market forces to achieve sustainable technological innovation, how SMEs in both regions can leverage opportunities to expand into overseas markets, and how both sides can work together to improve bilateral cooperation.
Charge d’Affaires ad interim for the Mission of the People’s Republic of China to the European Union Wang Hongjian, a representative of the Commissioner for Internal Market, Industry, Entrepreneurship and SMEs Ms. Elzbieta Bienkowskaand European Commission Deputy Director-General for Implementation, Impact & Sustainable Investment Strategies Mr. Patrick Child delivered keynote speeches at the event.
As CEIBS President and Professor of Management Li Mingjun noted in his welcome address, 2019 is a critical year for the Europe 2020 Strategy, and technological innovation is now crucial for sustaining Europe’s economic growth. As Chinafurther opens its doors to the outside world, he added, EU countries will discover new opportunities to take innovative technology from the lab to the market. “We look forward to establishing a foundation for communication with this forum,” Prof. Li said. “And to building a lasting and stable platform for the integration of innovation resources between China and the EU.”
Bruegel Director Dr. Guntram B. Wolff also welcomed participants to the event with a speech in which he noted the need to reflect together on current opportunities and challenges. He further added that the topic of the forum is important because “[it stands at] the intersection of new digital technologies, artificial intelligence and quantum computing, on the one hand, and industrial processes, on the other hand, and manufacturing processes. This interlinkage is at the core of the business model certainly of several economies in the EU, but also as the core of significant parts of the Chinese economy.”
Charge d’Affaires ad interim for the Mission of the People’s Republic of China to the European Union Wang Hongjian then offered a keynote speech on Innovation Cooperation Offers New Highlights in China-Europe Cooperation. In his speech, Mr. Wang emphasised that China and the EU should be more open and inclusive in their cooperation on innovation, should further align their innovation policies to achieve mutual benefits and should work to make long-term strategic plans. “Looking ahead, China and the EU are faced with shared challenges which will reshape the future of humankind, such as climate change, the new technology revolution, resources and environment challenges,” he stated. “China and the EU, as two major players, are duty-bound to join forces with a mind-set of reform and innovation, and to make a greater contribution to world peace, development and prosperity.”
CEIBS Distinguished Professor, Former World Trade Organisation Director-General and Notre Europe Honorary President Pascal Lamy continued with the next keynote speech of the event, in which he discussed the topic of Sino-EU Cooperation Under the New International Economic Order. In his speech, Prof. Lamy emphasised the point that, despite current challenges and uncertainties, there remains ample space for China and the EU to work together in areas of research and innovation. “We have a series of areas where we are already [involved in a lot of] cooperation, [including] food, agriculture, biotech, the environment and health,” he said. “So there are many reasons to move forward and enhance or foster and increase cooperation – many of them domestic and many global. This is how we should look at this picture.”
Bruegel Deputy Director Dr. Maria Demertzis moderated the first session of the day on the topic of Research and Innovation: Competition or Cooperation in the EU-China Context? Shanghai Institutes for International Studies President Chen Dongxiao, CEIBS Vice President and Dean Ding Yuan, and Bruegel Senior Fellow Prof. Reinhilde Veugelers participated in the panel discussion, in which they took an in-depth look at how “co-opetition” (or co-operative competition) in the development of new technologies is acting as a driving force for the 4th Industrial Revolution and how complementary priorities and strategies represent bright prospects for EU-China cooperation.
Following the luncheon, EFMD CEO and Director General Eric Cornuel traced the history of CEIBS to Brussels as “the Heart of Europe” and reviewed some of its world-renowned achievements in academic innovation over the past 25 years. “There is no doubt that innovation is a catalyst for growth built on the foundation of creative drive, co-operation and openness,” Prof. Cornuel said, adding later that, “China and Europe more than ever should get closer and create a favourable environment for innovation, growth and mutual understanding. No doubt CEIBS is an instrument of this co-operation.”
CEIBS Associate Dean (Research) and Professor of Economics and Finance Xu Bin then delivered a keynote speech on China’s Innovation Potential and Its Global Implication. In his speech, Prof. Xu noted that China’s investment in innovation has led to situation in which “it is inevitable that advanced countries will have direct competition with China.” At the same time, he said that the country’s development has resulted in increased demand for services imported to China and that companies seeking to maintain a competitive advantage “should make more effort to specialise in variety, in quality, and in brand.”
CEIBS Board of Directors Co-chairman and EFMD Honorary Chairman Dr. Gerard Van Schaik moderated the second session of the day, in which he invited participants to join a discussion on the theme of Industrial Approaches in Innovation Cooperation Between China and EU. Panellists featured China-EU Association President Luigi Gambardella; WINNER Technology Co., Inc. President and CEO Mr. Zhang Hongjun (CEIBS EMBA 2013); and DFKI Robotics Innovation Center Bremen Director Prof. Dr. Dr. h.c. Frank Kirchner. During the course of the discussion, participants shared their views on key drivers, incentives and best practices for innovation, and offered suggestions on how China and the EU can work both independently and collaboratively to foster innovation in the future.
Today’s event was co-organised by CEIBS and Bruegel, with support from the EU-China Business Association, the EFMD, Shanghai Institutes for International Studies and the Mission of the People’s Republic of China to the European Union, as is part of the CEIBS Insights 2019 Europe Forum series. The Europe Forum Series coincides with the on-going CEIBS 25th Anniversary Celebration and will wrap up in October with events in both Paris and London. For more details about these and other upcoming CEIBS events, please visit our events page here.
SOURCE China Europe International Business School (CEIBS)
MapMetrics expands to peaq from Solana following addition of Solana compatibility to peaq’s Multi-Chain Machine IDs
peaq, the blockchain for real-world applications, announces the expansion of its ecosystem and product offering. MapMetrics, a Web3 drive-to-earn navigation app, will leverage peaq as part of its decentralized physical infrastructure network (DePIN) powering a Google Maps-style service. The development comes as peaq adds Solana compatibility to its Multi-Chain Machine IDs.
A Solana-originating project, MapMetrics will leverage the now Solana-compatible peaq IDs to build functions of the MapMetrics DePIN on peaq. These will include assigning peaq IDs to the navigator devices on its DePIN, using these IDs to authenticate the data collected by these devices, and a community voting mechanism.
Free navigation apps have become trusty companions for countless people around the world, with Google Maps alone boasting over a billion users. But despite a lack of an upfront cost, they come with a price of their own. When something is free, you are the product; when navigation is free, your personal data is being monetized. From leveraging the user’s position data for valuable insights on specific locations to serving them targeted location-based ads, the companies behind such apps profit from our sensitive data, sometimes without giving much thought to its privacy and protection. And in the case of massive companies like Google, they combine this data with the data sourced from all other Google-related data points to create digital models of ourselves, able to predict our behavior than ourselves.
MapMetrics is changing the equation by putting navigation on Web3 rails. It uses location trackers that enable users to share their anonymized data with the network, earning cryptocurrency and NFTs as rewards. While featuring its own ad engine, it makes sure that no private user data is exposed to the advertisers and shares the ad revenue with the community. It boasts 3,500 devices in the network and 5,000 users across 73 countries.
As part of its integration with peaq, MapMetrics will use peaq’s Multi-Chain IDs to enable devices to connect with the peaq network. It will build and deploy some of the core functions powering its navigation DePIN on peaq, using peaq IDs to authenticate and sign the anonymized data that the devices collect. It will also tap peaq to build a community voting pallet — a building block that other projects will be able to use as well — which will enable the community to contribute to its Google Maps-style navigation service by adding the locations of speed cameras and other objects and validating it with votes.
This comes as peaq expands the compatibility of its peaq IDs to include Solana. Enabling this is an address map running as part of the peaq storage pallet, pallets being modules for building blockchains in the framework that peaq runs on. This map works like an address book, linking addresses of different standards used on various networks and thus enabling cross-chain communication and information exchanges.
For example, with this integration, a solar panel with an ID on Solana will be able to connect to an energy marketplace on peaq. The previous updates made peaq IDs compatible with Binance’s BNB Chain, Ethereum Virtual Machine, and Cosmos. peaq’s steps toward its Multi-Chain vision have already eased the transition for projects coming from Algorand and Polygon, and will now unlock new opportunities for MapMetrics and other projects in the Solana ecosystem.
The peaq ID compatibility expansion enables teams originating on Solana to expand and leverage peaq’s DePIN functions without friction or fragmentation. With peaq Multi-Chain IDs, Solana-originated projects can easily tap peaq for some of their crucial functions.
“With its DePIN-focused functions and economics, peaq is the perfect home for DePINs,” says Brent van der Heiden, CEO of MapMetrics. “We are excited to be joining this bustling ecosystem, and the newfound compatibility between peaq IDs and Solana addresses is making this process significantly more convenient.”
“We believe in an open, Multi-Chain Web3 with seamless communication and value exchange between a plethora of protocols,” says Till Wendler, co-founder of peaq. “By making peaq IDs compatible with Solana, we take another step toward bringing this vision to life — and it’s invigorating to see excellent projects such as MapMetrics use this technology to solve real business problems with the DePIN model.”
Global Blockchain Market Report 2023-2028 – Profiles of Key Players IBM, Oracle, Infosys, Wipro, Bitfury and More
The “Global Blockchain Market: Analysis by Component, By Type, By Enterprise Size, By Application, By Industry Vertical, By Region Size and Trends And Forecast To 2028” report has been added to ResearchAndMarkets.com’s offering.
Blockchain technology has been gaining immense traction in recent years due to its potential to enhance security, transparency, and efficiency across various industries. The global blockchain market, valued at US$11.02 billion in 2022, is expected to surge to a staggering US$265.01 billion by 2028, reflecting the growing demand for blockchain solutions and services.
Several key factors are driving this surge in demand for blockchain technology:
- Digitalization: As industries continue to digitize their operations, blockchain is emerging as a crucial tool for enhancing data security and efficiency.
- Favorable Government Initiatives: Governments worldwide are recognizing blockchain’s potential to improve transparency and security in sectors like land registration, identity management, and voting.
- Diverse Industry Adoption: Blockchain is finding applications across various sectors, including BFSI, retail, healthcare, and more, driving its widespread adoption.
- Decentralized Applications: The rise of decentralized applications and services is fueling the need for blockchain solutions.
- Cryptocurrency Usage: The increasing use of cryptocurrencies is boosting blockchain’s significance.
- Data Protection Awareness: Growing awareness of data protection and the need to safeguard against cyber threats like malware is contributing to blockchain’s growth.
Additionally, notable trends such as the integration of artificial intelligence (AI) with blockchain, Blockchain as a Service (BaaS), the Non-Fungible Token (NFT) boom, and the growth of DeFi (Decentralized Finance) are shaping the blockchain landscape.
Market Segmentation Highlights:
- Component: The global blockchain market comprises two main components: Solutions and Services. Solutions, offering essential technological infrastructure, customization options, and security features, claimed the majority of market share in 2022. Services, which provide specialized expertise for navigating blockchain complexities, are the fastest-growing segment.
- Type: Blockchain is classified into three types: Public, Private, and Hybrid. Public blockchains, known for decentralization, transparency, and open access, dominated the market in 2022. Private blockchains, offering faster transactions and scalability, are the fastest-growing segment.
- Enterprise Size: Large enterprises, with their complex processes and data management needs, held the majority of the market share in 2022. Small and medium enterprises (SMEs) are the fastest-growing segment, attracted by blockchain’s scalability, accessibility, and potential for process optimization.
- Application: Blockchain applications span seven segments: Payments, Exchange, Smart Contracts, Documentation, Digital Identification, Governance, and Others. Payments, revolutionizing cross-border transactions and remittances, accounted for the majority of market share in 2022 and are the fastest-growing segment.
- Industry Vertical: Seven industry verticals are served by blockchain technology: BFSI, Government, Travel, Healthcare, Retail, Telecom, and Others. BFSI, aligning strongly with blockchain’s principles, leads in market share and is also the fastest-growing segment.
- North America: The region, with a vibrant blockchain startup ecosystem, recorded the highest market share in 2022. The U.S., home to major players like IBM, Microsoft, and Amazon, holds a competitive advantage.
- Asia-Pacific: Rapid growth in this region is attributed to government support, a burgeoning financial sector, and a tech-savvy population. China, with nationwide digital transformation and heavy tech investments, leads in the Asia-Pacific region.
Competitive Landscape and Recent Developments:
Key players in the global blockchain market are:
- Oracle Corporation
- Intel Corporation
- Wipro Ltd
- NTT DATA
- Huawei Investment & Holding Co. Ltd.
- Hewlett Packard Enterprise
As blockchain continues to evolve and disrupt industries, it is poised for exceptional growth with a projected CAGR of 69.9% during the forecast period of 2023-2028. Blockchain technology’s blend with AI, coupled with its diverse applications, makes it a key driver of innovation in the digital age.
For more information about this report visit https://www.researchandmarkets.com/r/rgypes
Spool hones in on bringing institutions into DeFi by launching its expansive V2 upgrade
Spool DAO, or Spool, the platform allowing institutions and users to build customizable risk-managed DeFi products, launches its V2 upgrade. Spool’s new platform expands its original DeFi infrastructure and tools, with heightened decentralized access and new capabilities. Institutions of all sizes can now leverage its slate of new features and interface updates to build, manage, and explore DeFi products with unparalleled flexibility, risk reduction, and security.
Despite crypto’s whirlwind year, DeFi’s blue-chip protocols managed to largely withstand the industry-wide chaos. But that doesn’t mean the DeFi landscape hasn’t changed at all. Looming regulatory steps, such as the new bipartisan bill entering the U.S. Senate, aim to monitor DeFi apps similarly to banks, setting the stage to accommodate increasing interest from legacy financial institutions. Banks and institutions clearly see potential in crypto and DeFi’s financial possibilities, but they lack the proper tools to enter it easily, compliantly, and on their terms.
To meet this institutional need, Spool now provides a completely rebuilt platform for risk-managed and automated DeFi yield. Created from the ground up to be faster, more efficient, more composable, and easier to use than its predecessor, V2 represents a leap for Spool and institutions expanding their DeFi presence. The upgrade expands upon Spool’s core offering and introduces several key features to maximize the effectiveness of institutional DeFi investment. These features and enhancements include:
- Multi-Asset Smart Vaults: Institutions creating Smart Vaults can now build them to contain a range of yield strategies using multiple assets. Multi-asset Smart Vaults enhance functionality in addition to Spool’s classic auto-swapping and auto-rebalancing capabilities. Investors can simply create or pick an existing Smart Vault that matches their investment preferences, and send the assets they have available. The assets are then automatically swapped and implemented in audited and battle-tested smart contracts to attain the best yields possible while allowing funds to be withdrawn at any time.
- Smart Vault Guards: Institutions building Smart Vaults can now dictate which users can deposit or withdraw from the Vault based on specific criteria, mirroring traditional investment funds. This helps institutions tailor DeFi offerings not only to regulatory compliance but to their specific client needs as well. Institutions can create KYC and AML-compliant Smart Vaults, for example, and only allow access to vetted investors through whitelisted wallets. Other parameters include NFT or Token Gating (where a user must hold a specific NFT or token amount to access the vault), and Time Locks.
- Actions: Spool builders can now implement customizable actions tied to user activities such as entering or exiting a Smart Vault that is configured during its creation. Actions help support institutions by creating a framework that feels familiar to traditional finance and includes features such as deposit or withdrawal fees, deposit insurance fees, and automated asset swaps that help streamline the once-manual process for yield farming.
- Liquid Staking Derivatives (LSDs) Support: LSDs are tokens issued in return for staking cryptocurrency through a staking provider. This comes in handy for networks such as Ethereum, where validators must hold a minimum of 32 ETH to access staking and validator privileges. LSDs also allow users to withdraw staked ETH, which validators cannot do. As strategies using LSDs become more popular and prevalent, adding support in V2 enables greater convenience.
- Advanced Automation: One of DeFi’s major obstacles lies in manual asset management within yield farms. V2 improves upon Spool’s original automation features while maintaining decentralization and self-custody. Once assets are within a Smart Vault portfolio, V2 automatically rebalances them between various strategies configured in the Vault. Spool also now offers automated collateral conversion, meaning clients investing in a Smart Vault can utilize any underlying asset they have available. Spool automatically converts the asset before investing, granting increased ease and choice.
- Deposit NFTs (dNFTs): D-NFTs provide users with an immutable NFT receipt of their Smart Vault deposits, enabling the withdrawal of funds. ERC-20 Smart Vault Tokens (SVTs) are created by burning D-NFTs and act as yield-bearing stablecoins, which can be easily transferred or traded on a secondary market, creating a new liquid financial instrument.
Check out Spool’s video here: https://drive.google.com/file/d/150B6sSdX9gMAjdig-5675nLfftciWidJ/view
More detailed video with features overview can be found here: https://drive.google.com/file/d/1uIr_AJ_iHKErkHR5lFaUWk39A4-NUtEo/view?usp=drive_link
Among these new features, Spool V2’s completely redesigned interface allows institutions and asset managers to have a birds-eye view of their Smart Vault portfolio. The platform champions accessibility while providing the comprehensive tools and oversight that institutions require. This includes tools for easily white-labeling Smart Vaults for client access with their own branding and unique insights into Smart Vault performance based on customizable KPIs.
By enabling the codeless creation of financial services and products backed by audited financial primitives, institutions that don’t have DeFi-specific teams are now able to easily access DeFi. The upgrade’s capabilities set the stage for large-scale institutional partnerships in the pipeline for Spool, following a steady stream of integrations and collaborations leading up to its launch.
“We are incredibly proud to launch Spool V2 after countless months of our team developing, testing, and listening to the feedback and needs of our institutional partners,” says Philipp Zimmerer, Lead of Token Strategy of Spool. “This lands at a pivotal moment in crypto in a year that has been all about responsibly rebuilding the industry and forging a new path for DeFi. Improving access, flexibility, and security will not only garner further institutional support but set a new standard for what DeFi can make possible for any investor.”
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