Blockchain
Hatten Land Signs Exclusive Agreement with EnjinStarter to Digitise Group Assets and Create New Digital Assets, including NFTs and Tokens Exchangeable with Current Loyalty Points Linked to its Malls and Hotels
Hatten Land Limited (“Hatten Land”) said today that its subsidiary Hatten Technology (S) Pte. Ltd. (“Hatten Technology”) has signed an agreement with Prakal Pte. Ltd. (known as “EnjinStarter”) to develop a dedicated token system and create digital assets, including non-fungible tokens (“NFTs”), to promote the development of a digital economy in Melaka where it has substantial hospitality and retail assets.
The Exclusive Framework Agreement is part of a strategic shift by SGX Catalist-listed Hatten Land. Hatten Land is re-purposing its extensive mall footprint in Melaka and pivoting towards digital and blockchain activities as the pace of digitalization in the world accelerates.
EnjinStarter will develop a token strategy (“tokenomics”) that will allow tokens and NFTs to be exchanged or connected with the current loyalty point system of the Hatten Group as well as other participating hotels, attractions, malls and shops, starting with Melaka. EnjinStarter will also provide maintenance and support services for the Token System and Metaverse to be developed.
This project with EnjinStarter will start mid-October 2021 with delivery of the Token System and the crypto-related elements and/or components connected to the Token System and Metaverse due by end- March 2022. The initial term of the Exclusive Framework Agreement is two years and can be automatically renewed every two years unless the Agreement is terminated.
EnjinStarter has entered into an agreement with Enjin Pte. Ltd. (“Enjin”), that EnjinStarter is a Special Purposes Vehicle (“SPV”) set up to serve as a launchpad for the ecosystem development within the Enjin platform which powers many pioneering blockchain games, applications, and projects.
Also a marketplace for NFTs, Enjin has over 20 million users spanning more than 250,000 gaming communities. Enjin has backed over US$1.14 billion blockchain assets, which collectively contain 12.5 million worth of ENJ coins.
With substantial hospitality and tourism footprint in Melaka, Hatten Land and its parent company, the Hatten Group conglomerate, are the leading developers in this strategic historical city located along the Straits of Melaka that dates to the 15th century. The Group owns and operates retail malls with a combined built-up area of over six million square feet within Melaka, where it also owns or operates four hotels.
Under the Agreement, both Hatten Technology and EnjinStarter will collaborate to develop a Metaverse, starting with a digital ‘twin city’ for Melaka (“Digital Melaka”) that aims to promote physical and digital tourism in Melaka and accelerate the growth of the city’s digital economy.
Mirroring the physical world, Digital Melaka will feature the rich heritage, activities and key attractions in Melaka as well as Hatten Group properties in digital format. This will allow digital assets, including tokens and NFTs, to be created and monetized.
In addition, EnjinStarter will establish its regional headquarters in Melaka, both physically and digitally, to jointly operate a virtual game development incubator, a blockchain gaming showcase and arcade. EnjinStarter will also cultivate and promote Melaka artistic activities such as partnering with local artists for NFT creations, marketing and sales within Digital Melaka.
The EnjinStarter collaboration follows recent agreements signed by Hatten Land under which at least two parties will install and operate up to 3,000 cryptocurrency mining (“cryptomining”) rigs within its properties in Melaka. Hatten Land will leverage its existing infrastructure and lower energy costs in Malaysia. Such costs may be lowered further as Hatten Land installs solar panels on the rooftops of the malls to enable energy-efficient or ‘green’ cryptomining, accelerating its initiatives to create sustainable digital assets.
Hatten Land’s digital strategies include enabling tokens and NFTs as well as online-to-offline (“phygital”) commerce and gaming. Digital assets that emerge from these initiatives can achieve tangible and tradable value over time as creative activities are enhanced and built around a dedicated blockchain platform.
Dato’ Colin Tan, Executive Chairman and Managing Director of Hatten Land, said: “The Digital Melaka project is intended to be a major catalyst for our strategic shift to become a hub for blockchain and digital initiatives as we re-purpose our existing mall footprint in Melaka.
“We are partnering with EnjinStarter, which has a proven track record including a recent successful token listing. Together, we will build a dedicated Metaverse which will usher in a new era of blockchain, e-commerce and creative activities and where everyone can trade and live in.”
Mr. Prakash Somosundram, CEO and Co-founder of EnjinStarter, said: “We are really excited to partner Hatten Land. The Metaverse project brings a new dimension which allows us truly to explore ‘phygital’ opportunities. Hatten Land is a forward-looking partner that is also committed to assemble key stakeholders to work together and deliver this ground-breaking project. Beyond the sky’s limits. Together we are bringing Digital Melaka to the Metaverse and seeking to change the way people create, live, work and play.”
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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