Blockchain
PARALLEL FINANCE ANNOUNCES A TOTAL OF $5M IN STRATEGIC INVESTMENT FROM COINBASE, SECTION 32, AND STARKWARE
Parallel Finance, the leading decentralized lending and staking protocol that aims to bring decentralized finance (DeFi) to the mainstream, today announced that Section 32, Coinbase, and other strategic funds have invested a combined $5M into Parallel Finance, for a total valuation of $500M in their latest extended strategic round.
This new funding will further accelerate multiple strategic objectives that empower Parallel Finance’s users, including building products beyond the Polkadot space and entering ETH and NFT-related DeFi groups. As mass adoption continues, it is crucial that the DeFi sector remain focused on building infrastructures to address industry growth.
“As we continue to pursue our mission of empowering users and bringing DeFi to mainstream society, we are beyond grateful to our investment partners for their support,” said Yubo Ruan, Founder of Parallel Finance. “The partnership of these impactful companies is a testament to the value that Parallel Finance provides and we are looking forward to reaching our fullest potential with innovative products and offerings for our users to enjoy.”
Section 32 is a venture capital fund investing at the frontiers of technology and healthcare. Founded by Bill Maris, previously the CEO and founder of Google Venture, the venture capital investment arm of Alphabet Inc, the team has vast experience building iconic companies. The firm’s goal is to improve the human condition by accelerating the discovery, development and distribution of important technologies and life-saving medicines. Section 32 invests across the entirety of technology and life sciences.
“As DeFi continues to emerge, technical advancement, enhanced scalability and consumer accessibility are imperative,” said Andy Harrison, managing partner at Section 32. “We believe that Parallel Finance has the potential to change how consumers interact with DeFi and provide substantial industry growth in Polkadot and beyond.”
Coinbase is a platform that helps more than 89 million people and businesses buy, sell and manage crypto. Started in 2012 with the premise that anyone, anywhere, should be able to send and receive Bitcoin, Coinbase effectively powers the cryptoeconomy, creating a more fair, accessible, efficient and transparent financial system.
StarkWare raised 80M from Sequoia and executed half a trillion in trading volume since their launch on Ethereum in June 2020. StarkWare offers blockchain scaling services through “STARK” proofs, which are Ethereum-based products using rollups technology. These solutions include StarkEx, a standalone permissioned Validity-Rollup, and StarkNet, a permissionless decentralized ZK-Rollup. Both enable a secure, trustless and scalable operation for blockchain applications.
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
CoreNest Capital Announces Strategic Investments in SpaceX, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, and Study Dojo
OpenAI, xAI, SpaceX, Weave Robotics, Blaze Payments, Domu AI, Phonely AI, Andromeda Surgical, Texture Capital, Artisan AI, Piramidal,Avatar Medical, OpenCall, Fleak AI, Algorized, itsElectric, Dili, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, Study Dojo, Sologenic, Coreum, Pulsara
Blockchain
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