Blockchain
10PROPS INTRODUCES “DOUBLE-PROTECTION” NFT’S, VOWS TO CURB THEFT AND PLAGIARISM IN THE MARKET
10props, an Ethereum-based NFT marketplace, announces a new technology, which according to the company will stem the rampant tide of theft and plagiarism threatening the entire nascent market.
10props offer what they call “double-protection” NFT’s. The first layer of protection is a market standard – the non-fungible token itself. The novel technology is the second layer of protection that 10props hope will be eventually adapted by the entire NFT market as an added security against a wide spreading wave of scams.
“We must stop thinking about buying and selling NFT as merely a transaction with a token. Let’s face it, every NFT transaction includes two digital assets, not one. Yes, there is a token packed in a smart contract and wonderfully protected in blockchain. But there is also a digital file that smart contract is pointing to, and the truth is simple: it’s not protected at all. Anyone can copy-paste it, steal it, mint an NFT from it, and sell it again. The token itself is such a new thing for most of us that we somehow disregard the importance of the second asset, the digital file itself, which is in fact an inseparable part of the commodity that people pay lots of money for,” says Robert Nguyen, 10props founder and CEO.
Every artist uploading a digital image to 10props certifies that the file is “unique,” i.e. not available elsewhere on Internet. Moreover, the seller also confirms to the company that the image itself, as well as all its source files and derivatives had been deleted from the artist’s devices prior to uploading. The company is using a dedicated crawler to parse the web for duplicates, and in case a leak is identified the artwork is removed from the auction qualifying round. The seller of a compromised image receives a warning, which is followed by a lifetime ban should the situation repeat itself.
“We call it ‘verifiable honesty.’ There are honest artists who will not try and sell the images twice, even if they had risked keeping them. But there will be attempts to cheat the system, such is human nature. The new rules will settle, but it will take time,” says Robert Nguyen. All digital artworks sold at the 10props auctions are discreetly modified with the use of a sophisticated technology provided by a French expert IMATAG, making them undetectably different from the files uploaded by the sellers. The resulting ‘digital originals’ will be either stored on the decentralized storages or kept privately as exclusive rarities by those buyers who wish to be the sole proprietors of a unique authentic file. Depending on buyer’s choice an ERC-721 standard smart contract will point to either a decentralized storage location, or the personal gallery protected by a buyer’s own password.
By securing the artwork file with an invisible watermark provided under a special arrangement with IMATAG, 10props gives the NFT buyers a choice: either make the digital image to which the smart contract is pointing to available to and freely downloadable by anyone – which is the market status quo at the moment – or keep it in a buyer’s own “vault” thus assigning scarcity and uniqueness to the file which cannot be copy-pasted by anyone in the public domain.
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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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