Blockchain
Polymesh – The First Public Blockchain Built Specifically for Regulated Assets
Polymesh – the first institutional-grade permissioned, purpose-built blockchain for regulated assets – has been announced by Polymath, a blockchain technology provider. The network will be launched on October 13, 2021, by the Polymesh Association.
The network will launch with 14 financially regulated entities acting as operators running validator nodes. The company plans to onboard further operators, customer due diligence providers, and service providers in the future. Operators must comply with a set of requirements and regulations to become permissioned, regulated entities. The highly regulated network ensures industry-leading security, efficiency and transparency.
While the majority of existing public blockchains was built for pseudonymity, censorship resistance, and transparency, and relies on probabilistic settlement, Polymesh was purpose-built to incorporate identity, compliance, confidentiality, governance, and deterministic finality. Polymesh solves issues with public infrastructure and provide a chain built from the ground-up to be compatible with capital market needs.
Polymesh utilizes a native utility token named POLYX, which is regulated by Swiss laws. This marks a milestone in regulatory understanding of blockchain technology and its potential beyond payments and securities.
“Polymath set out to build the world’s first blockchain specifically for security tokens in 2019, and we’ve achieved that and more. We’re excited to announce the Polymesh mainnet launch by the Polymesh Association, especially after the community’s passionate response to the incentivized testnet with over 4,300 users,” said Chris Housser, Interim CEO of Polymath.
Polymesh Association is a not-for-profit, Switzerland-based association promoting and developing technologies and applications in the field of blockchain. The Polymesh blockchain will be launched by the association, which will be equipped with $8 million USD and 250 million POLYX to offer grants and incentives and develop the Polymesh protocol and ecosystem.
A one-way 1:1 POLY:POLYX upgrade bridge will also be deployed for users to upgrade POLY to POLYX, however, there will be no newly minted supply except for rewards as part of the consensus validation process.
For more information about Polymesh, please visit https://polymesh.network.
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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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.
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Blockchain
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