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Vietnam Blockchain Corporation raises funds to take its blockchain solutions global




Vietnam Blockchain Corporation (VBC), the country’s leading provider of Blockchain-based software solutions, is currently raising funds to make its innovative products available to the international audience.

Utilizing Blockchain technology to improve people’s livelihoods and business operations, VBC produces a variety of Blockchain-related services and software solutions. The brand has been recognized with 28 local and international awards, including the 1st Prize of “AIOT & Smart Cities 2019″ by QTSC, the Bronze Award from ”Asia Smart App Awards 2020” by WTIA Hong Kong, and ”Top 10 ICT companies in Vietnam 2021” by VINASA.

“Blockchain technology has the potential to benefit many industries in SEA countries, and we’ve just scratched the surface of what can be done. VBC wants Vietnam to be the hub of Blockchain experts not only in the country but also in the entire region, to achieve this we will be looking to work with investors and partners across the region,” Mr. Do Van Long – CEO of Vietnam Blockchain Corporation.

Secure Blockchain innovation for COVID-19 Test Certificate is one of VBC’s most innovative applications. It is a simple-to-use system that lets users store their COVID-19 test data such as personal information, SARS-CoV-2 virus test results, and certificates in a mobile app with anti-counterfeit. The app provides a specific Blockchain QR code for each user, which they can use to register for tests and present to authorities to verify their test results with trustable information and transparency at various public places as required from other countries.

The underlying Blockchain technology makes data in the app more secure than existing data storage methods. It also promotes the accuracy, as Blockchain technology provides verification of all records in the system and linking to national databases.

Medical institutions also have access to, linking test records to their data while maintaining information security and privacy.

“While Blockchain is usually associated with cryptocurrency, this new-age technology also allows new applications to have a higher level of security and accuracy that we haven’t seen before,” says Do. “With the ongoing pandemic, it’s of great importance that we have a secure and easy system to store and manage COVID-19 vaccination, SARS-CoV-2 virus test records, and many others medical records”. was developed with the help of lecturers from Ho Chi Minh City University of Technology and has already received support from the IT Department of Vietnam’s Ministry of Health and Ho Chi Minh City Department of Science & Technology.

A Blockchain platform for agriculture traceability and supply chain management

VBC has also been leveraging the potential of secure data tracking that Blockchain offers to produce various services.

This includes, a Blockchain platform designed to record, trace, and authenticate information at every stage of the agricultural process, from farming and harvesting to production, supplying & transporting to retailers, then selling to customers and checking the quality of the food on the table.

Since 2018, has provided production management and traceability solutions to many partners and provinces across the country. These include Vietnam’s major agricultural producing provinces and wholesale markets for agricultural products, along with 600 enterprises in the Central Highlands.

For the international market, we have been working with the United States Agency for International Development (USAID) through International Executive Service Corps (IESC) and KPMG Vietnam to provide a traceability solution for agricultural SMEs.

With, Vietnam is gradually improving and solving the urgent needs of the country’s agriculture, and better preparing “Made-in-Vietnam” products to be exported internationally and adapting to FTAs requirements.


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Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest




Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.

The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.

While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.

Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.

A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.

Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.

Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.


The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.

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ASIC cracks down on blockchain mining firms




Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.

According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.

The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.

ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.

In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.

While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.


The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.

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