Blockchain
EY helps Block2 build a blockchain-based solution for small and medium businesses to manage supply and demand across trade industries
Block2, an Australian start-up focused on peer-to-peer resource management, has selected EY to provide software and services to build their newly released 2Mota solution, a blockchain-based peer-to-peer marketplace to help Small to Medium Enterprises (SMEs) manage their supply chains more efficiently.
EY’s OpsChain Tesseract with pre-configured, native blockchain functionality was leveraged by Block2 to build 2Mota, a blockchain-based peer-to-peer marketplace customized for the motor trades industry in Australia. The 2Mota solution has both B2C and B2B functions that (i) introduce and manage new customers, and (ii) facilitate the optimization of employees, equipment and workspaces for better profitability. It will also provide workers and independent contractors more control over their careers within the industry.
Specifically, Block2’s 2Mota solution allows car owners to book services for their vehicles directly or post repair requests so that local motor trade businesses can bid for the work. The car owner then selects the best quote based on criteria, such as; price, location, availability, staff quality and business references. 2Mota also allows local businesses to book and rent resources from each other to fill excess demand and/or provide an additional source of revenue in a situation where they have excess capacity. The solution further allows workers take charge of their own careers, manage their work history/qualifications and to move seamlessly between businesses to gain skills and experience.
At the industry level, 2Mota’s peer-to-peer marketplace improves the use of compatible resources across an industry where peaks and troughs in demand create difficulties for SMEs. Block2 hopes that its solution will result is a more robust motor trades industry that is better prepared to evolve with the new digital economy. Over time Block2 plans to expand into additional industries to manage and share resources, allocate and trade assets, and tap into a mobile workforce, all on a single marketplace.
Paul Brody, EY Global Blockchain Leader, says:
“As blockchain technology continues to evolve around the world, we are able to find new ways to improve efficiency and limit unnecessary losses. The use of a blockchain-based peer-to-peer marketplace is an efficient means of introducing elasticity into sectors where traditional fixed ownership presents barrier to profitability. Block2’s marketplace will allow companies, particularly SMEs, to optimize resources and make best use of the human capital available to them. EY OpsChain Tesseract will allow Block2 to leverage the current trend of ‘using’ assets, rather than owning them – much the way the hospitality industry is doing today.”
Eden Spencer, Founder and CEO, Block2, says:
“Small and medium sized businesses, like automotive repair companies, must manage demand to ensure success in an increasingly competitive environment. Block2’s peer-to-peer marketplace addresses challenges in Australia’s automotive repair industry, whereby the lack of supply and demand management is impacting business productivity, investment planning and growth.”
SOURCE EY
Blockchain
Alpha Transform Holdings Releases March Report on ASC AI Index
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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