Blockchain
DeFi Technologies Provides Update on Its Governance Business – Announces initial Shyft Network Node Earning of 300K+ of Shyft Tokens Over Two Months
DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (NEO: DEFI) (GR: RMJR) (OTC: DEFTF) announces initial Shyft Network Node earning of 300K+ of Shyft tokens over two months and expects to generate about 6800 Shyft tokens daily or 2,482,000 Shyft tokens per year. The Company is running a validator on the Shyft Network, the private, semi-permissioned blockchain designed to embed trust, validation and discoverability into public and private ecosystems.
The Shyft Network protocol is an intraoperative, transformative solution that enables identity verification, validation and the sending of credentials and other data across multiple different blockchains and networks. The protocol was designed to help virtual asset service providers (VASPs), brokers, and financial institutions achieve full compliance with the Travel Rule, which was standardized globally by the Financial Action Task Force in 2019, and ease friction in the deployment of technical compliance solutions for virtual assets.
DeFi Technologies generates revenue by running a node on the Shyft Network which secures the network and validates transactions. In return for providing the service, DeFi Technologies earns the transaction fees on the network and the Shyft Network token issuance. The earnings generated by running this node on the Shyft network will be used to help fund development of products being built on the Shyft network, as well as several other initiatives like providing liquidity to the market, creating institutional trading products, amongst other things.
Russell Starr, Executive Chairman of DeFi Technologies stated: “As our entire business platform at Valour continues to grow in terms of AUM and revenues, to see our governance product now kick in and add to our already substantial revenue profile is incredible news for shareholders. What is even more exciting are our new products coming to market along with our intent to also build out a node portfolio. DeFi Technologies remains one of the only ways for investors to get exposure to DeFi TVL (which has grown to US$157 billion) in a listed and regulated equity market.”
Currently DeFi Technologies is running one Shyft node. Through July and August of 2021, DeFi Technologies has generated over 300,000 Shyft Tokens. The current network price of the Shyft Tokens is US$1.05.
Wouter Witvoet, DeFi Technologies’ Chief Executive Officer, said: “This is a really exciting start of our governance business line and shows the potential of DeFi Technologies to be a core actor in enabling decentralized networks. The lessons learnt in our initial partnership with the Shyft foundation will give us a template of how we can work with other players in the space.”
DeFi Technologies offers governance as a part of its product suite. As more DeFi applications seek to improve the way their projects are governed by their respective token holders a need has emerged for independent governance.
The best way to think of it is similar to a public company opting to install independent board members. The DeFi Governance product works with decentralized networks to run independent nodes that validate transactions and provide governance on the network.
As the only public company dedicated to the DeFi space, the company believes it is uniquely positioned to fulfill this emerging need in the marketplace.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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