Blockchain
SpaceTravel to partner with UnionPay, The Embassy of the Republic of Indonesia & Bali Tourism Promotion Board to Bolster Bali Tourism Industry through launch of BUBU App
SpaceTravel, UnionPay International, and the Bali Tourism Promotion Board, supported by the Embassy of the Republic of Indonesia in Singapore, yesterday officially kicked off their partnership to offer BUBU, a lifestyle app for tourists in Bali. Singapore-based startup, SpaceTravel, will develop this app as this partnership hopes to embrace digitisation to bolster the Bali tourism industry through its recovery.
This partnership was announced at a webinar yesterday “Digitisation to Unlock Tourism Potential Post-Covid”. The event was attended by His Excellency Ngurah Swajaya, the Ambassador of the Republic of Indonesia to Singapore, Mr. Muhammad Neil El Himam, Director for Application & Governance of Digital Economy – Ministry of Tourism and Economy Creative of the Republic of Indonesia, Dr. Putu Saroyini, Vice-Chair Bali Tourism Promotion Board, Mr. Wenhui Yang, General Manager, UnionPay International (UPI) Southeast Asia, Mr .Ping Teck Huat, CEO of SpaceTravel Pte Ltd, and other distinguished guests.
BUBU is an all in one application that allows tourists to Bali to navigate, book accommodation, transport and look for merchant offers, whilst giving merchants the ability to gain insights about and reward consumers when they spend.
In his opening address, Ambassador Ngurah said that since the pandemic Covid-19, the government has developed and rolled out a comprehensive strategy for the development of the Indonesian Tourism in line with the Cleanliness, Health, and Safety (CHS) protocol.
“The plan to reopen is gradual and emphasizes the importance of developing confident, safety, and quality tourism. Reopening borders has been discussed in the ASEAN context,” he said.
Following him, Mr. Neil El Himam shared with attendees several marketing strategies which tapped on digitisation to increase quality tourist visits to Indonesia in the future. This included Indonesia Care, which taps on VR, Big Data, and blockchain to promote virtual, seamless tourism to future tourists to Bali.
“While we don’t hope to replace the in person experience, tourists can now preview what they will be seeing on the trip before they embark on it,” he remarked.
Similarly, Dr. Putu Saroyini stressed the use of mobile applications to engage the Chinese tourist market, which accounted for close to 20 percent of the country’s 18,000 daily visitors pre-Covid. Dr. Putu highlighted that the BUBU App taps on the human desire to gain rewards for their actions, which will encourage them to spend while travelling.
“This gamification feature will promote a higher user engagement, which I believe will make it the ideal choice for travellers when they come to Bali,” she said.
This was a sentiment echoed by Mr. Ping, who urged offline businesses to be quick in adopting digitisation to reach out to potential tourists while observing safety.
“With the help of local tourism boards and UnionPay, we are able to engage these merchants directly and connect them with potential customers in a contactless and hygienic way,” he said.
Mr. Wenhui Yang, General Manager of UPI Southeast Asia further added, “We are pleased to be part of this partnership, to bring more value to our Cardholders, merchant acquirers, and Bali merchants alike.
“This app makes it easier for tourists to not only find their way around Bali, but to easily find and pay for exciting merchant offers when visiting the famed island of the Gods,” he said.
In Bali, the province’s success in fighting COVID-19 has resulted in the Indonesian government expressing interest in reopening its door on 11 September 2020. This has caused much excitement for industry players, who see this as an opportunity for business recovery and even growth.
UnionPay is accepted at almost all merchants in Bali now, and in many parts of Indonesia. UnionPay serves the world’s largest Card base of over 8 billion and is one of the fastest growing international payment networks, now accepted in 179 countries and regions.
SpaceTravel also plans to conduct other webinars like best practices for businesses to stay connected to consumers during this challenging time, dialogues with local businesses on how they pivoted to ensure the proper roll-out of the COVID-19 safe distancing measures, and training on tools across the Facebook platform.
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.
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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