Blockchain
Alchemy Pay’s ACH Lists on Coinone in South Korea
The world’s 14th largest cryptocurrency exchange by spot trading volume, Coinone, now supports trading and custody of Alchemy Pay’s utility token, ACH, for its market of predominantly South Korean traders. Trading of ACH began on Friday, September 3rd at 6pm KST.
South Korea has seen a huge jump in the adoption of crypto over the past 18 months, led by Coinone, with an unblemished security record.
“Coinone has built an exemplary reputation as a responsible, secure, and popular exchange,” said John Tan, CEO of Alchemy Pay. “Our listing on Coinone will be an excellent point of reference and awareness for crypto-fiat payment gateway clients in the South Korean market.”
Although the South Korean government has been receptive to cryptocurrency and blockchain technology, the increased crypto adoption among its citizens has meant the market has come under proportionate scrutiny from regulators. Among many Korean exchanges, only a few operate with identity verification procedures. Coinone is among the earliest adopters of KYC and AML guidelines. Along with Bithumb, Kobit and Upbit, Coinone is expected to be among the first exchanges to receive the complete set of regulatory approvals currently in effect for cryptocurrency exchanges in South Korea.
ACH is the ERC20 utility token that enables over 20 major cryptocurrencies to be spent by users with retailers online and in physical stores on the Alchemy Pay network. In order to use Alchemy Pay’s payment facilitation services, retailers pledge ACH on the network. Alchemy Pay uses the pool of pledged ACH as collateral to access liquidity from its larger institutional partners and payments, such as Binance and QF Pay. Transactions can occur on and offline, instantly and cheaply – at around 30% the cost of legacy card payments. This is achieved by leveraging State Channel Network and Lightning Network technology. Retailers are able to receive the payment in their local fiat currencies.
As an incentive for using this hybrid fiat-crypto payment network, retailers and customers are rewarded with ACH, a token that has risen more than 1000% in value since the start of the year as a result of its rapidly-increasing number of partnerships across the globe and a recent Coinbase listing. ACH also grants holders various shopping rewards in a similar way to a loyalty card. Alchemy Pay is also planning to launch a virtual credit card – which can be linked to digital wallets like Google Pay and Paypal – in partnership with Visa and Mastercard, which is expected to be in production with its first users by the end of 2021.
“Fully integrated fiat and crypto payments for everyday purchases have long been an ambition of cryptocurrency holders and developers,” said John Tan. “Alchemy Pay offers that, and ACH’s listing on one of the world’s largest exchanges is an indicator of growing support for the project, not only in Asia, but globally.” As a result of Alchemy Pay’s partnerships with other innovative platforms like Shopify, Binance, and QF Pay, it now has over 2 million touchpoints worldwide.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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Blockchain
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