Blockchain
Art&Co. Online Art Auction for COVID Relief Records Fund Distribution on the Blockchain
Art&Co. (“Art&Co.”), the world’s largest online art auction for Covid relief that connected art, finance and support groups, brings continued relief to COVID-19 victims a year on, via blockchain technology provided by LuxTag.
Records of funds raised and dispensed to seven charities and various artists were documented using LuxTag’s blockchain solution, providing a perpetual audit trail. The receiving charities providing healthcare, food, medicines and guidance to those affected by the contagion were ICU steps, The Care Workers Charity, Khalsa Aid International, Painting Our World in Silver, Solace Women’s Aid, Za Teb and Race on the Agenda.
The artwork collated came from more than 30 emerging artists as well as famous creators such as Pablo Picasso, Salvador Dali, Jeff Koons and Andy Warhol. The aggregate value of art available in the auction was £1.65 million ($2 million) with prices ranging from £1,000 ($1,250) to £36,000 ($45,000). All art created represented themes connected to the continued trying times, such as health, nature and spirituality.
“Blockchain technologies provide an immutable record of transactions, transparent and open for inspection 24/7,” said PremFina Group CEO Bundeep Singh Rangar. “The use of LuxTag’s blockchain technology not only helped record the dispersion of funds to charities, it bridged a gap between art and technology via a philanthropic cause.”
“Artwork is of unique beauty and often, the beauty lies in its uniqueness. At LuxTag, we work hard to protect unique objects and their authenticity, so projects like Art&Co. 2020 are duly close to our heart,” said Jeff McDonald, the founder of LuxTag. “Blockchain technology, authenticity and provenance of artwork are vivid examples of how traditional crafts can be enhanced with modern tech.”
Silicon Valley tech investor Tim Draper hosted the final live auction event to drum up donations for the live Art&Co. auction, while commenting on the ability of blockchain technologies to record provenance, authenticity and ownership of art objects.
Fundraising for charities and not-for-profits has become increasingly significant as demand for their services have increased and conventional funding routes have shrunk. More than 300 million infections have been recorded worldwide and new virulent variants of the coronavirus have emerged, such as Omicron and Delta. Nearly 15 million people have been infected in the UK, resulting in more than 150,000 deaths.
Art&Co. has had press coverage in Bloomberg, BBC World Radio, The Independent, The Art Newspaper, The
Resident, Evening Standard, Gulf Today, 1883 among other news outlets.
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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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