Blockchain
Blockchain Tech Revolutionizes Financial Applications
Blockchain, the technology behind the cryptocurrency craze, is becoming more and more popular thanks to its potential to optimize operations in various fields of business.
It is a type of distributed ledger system, providing enhanced security to the real time digital economic process, and is comprised of blocks of digitally recorded data. Applications built with this technology are utilized in governmental agencies, the healthcare industry, as well as in media, retail, hospitality and energy sectors, amongst others. The global blockchain market is expected to grow by USD 15.1 Billion by 2024, and at a CAGR of 69.3%.
Businesses and major corporations are increasingly investing in blockchain. Mastercard has recently announced the acquisition of the blockchain analytics start-up CipherTrace.
Ajay Bhalla, President, Cyber & Intelligence at Mastercard, said “Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient. With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and CipherTrace to do just this.”
TD Holdings, Inc. just announced that the company entered into a strategic cooperation framework agreement with Guangzhou Wensheng Blockchain Technology Co., Ltd. (GWBT), a high-tech company focusing on “blockchain+” application solutions to apply blockchain technology in the supply chain financing and development of cloud based warehouse.
Ms. Renmei Ouyang, the Chief Executive Officer of the Company, commented “We are excited to become a strategic partner of GBWT. Leveraging the respective advantages of GBWT’s blockchain technology and the Company’s access to U.S. capital market as a U.S. listed company, we believe the alliance will further enhance our existing platform and business. With the tremendous market potential of blockchain in the supply chain financing and digital cloud warehouse business, we look forward to working with GBWT on this important initiative.”
Riot Blockchain, Inc. announced earlier in June its May production and operational updates, including its unaudited Bitcoin (BTC) production for May 2021 and its latest miner delivery status. The Company plans to continue to provide monthly operational updates and unaudited production results through the end of 2021, while further expanding its blockchain-related capabilities.
HIVE Blockchain Technologies Ltd. reported last month that it has ordered 1,800 Antminer S19j Pro miners from Bitmain Technologies Ltd. These new miners have an aggregate hash power of 180 Petahash per second (PH/s).
SOS Limited reported back in June that it has entered into a joint venture agreement with Niagara Development LLC, a New Jersey limited liability company, to carry out crypto-currency mining operations and construct an international standardized Digital Super Computing Custody Operation Center.
CleanSpark, Inc. announced back in June that it is set to join the Russell 2000® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28th. The Russell 2000 is a benchmark stock index comprised of 2,000 publicly-traded small-capitalization companies. The Company also recently appointed industry veteran Bernardo Schucman as the Senior Vice President of its Atlanta-based Bitcoin mining center.
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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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