Blockchain
Hainan Resort Software Community, a Key Industrial Park in Hainan FTP, Is Recruiting Senior Executives Globally
Hainan Free Trade Port Resort Software Community (“Hainan Resort Software Community” or “the Community”), the main service station of Hainan’s digital economy and internet information industry, has launched an open competition to recruit the very best talent for its crucial senior management positions. Roles on offer include a Chief Financial Officer position and eight Deputy General Managers positions in industrial investment, mergers and acquisitions, planning and design, and other fields.
The Community has opened the competition to applicants from all countries and regions in the hopes of attracting truly diverse and professional up-and-coming candidates for key senior positions. By building an international management team, the Hainan Resort Software Community is striving to internationalize its employees, promote high-quality development, and adapt to the evolving needs of Hainan Free Trade Port (FTP). Recruitment efforts have already been launched in the United States, Singapore, Hong Kong SAR, and other technological hubs.
“The Hainan Resort Software Community is a leading facility that provides unparalleled opportunities in the areas of blockchain, digital health and digital finance. We’re inviting the world’s top talents to help us shape the future of the digital economy, while discovering the natural beauty and comfortable lifestyle that Hainan has to offer,” said Jin Li, Director of Human Resources at Hainan Resort Software Community.
Established in 2008, the Hainan Resort Software Community spans over 15.58 square kilometers. The Community was built to promote the joint development of traditional industrial parks and digitalization to accelerate the incubation of unicorn enterprises and support existing listed companies. In doing so, the Hainan Resort Software Community aims to cultivate the industrial clusters required to fuel the continued development of Hainan FTP.
Since opening, the Hainan Resort Software Community has already played a significant role in the development of China’s digital and platform-based economy. In 2021, the Community’s income reached nearly RMB 200 billion, and tax revenue exceeded RMB 10 billion — marking an increase of 164.6% year on year.
The digital economy is the fastest-growing and most active industry in Hainan, as well as a key driver of development for the Hainan FTP. As the main hub for Hainan to grow its digital economy industry, the Hainan Resort Software Community was designed to nurture innovation with its “one district and three industries” layout, which includes a blockchain pilot zone, digital culture and sports, digital health, and digital finance.
Most notably, the Hainan Resort Software Community was the first to establish a blockchain pilot zone within Hainan FTP and is now actively constructing China’s first national blockchain pilot zone. To date, the Community has cemented itself a leader in regulated blockchain technologies, digital identification systems, and trusted business environments. It has also launched an action plan, SSC+ HAINAN (SSC+: Secure, Sharing, Compliance+), which powers innovation in digital culture, health and finance by forming tradeable service capabilities and supporting the construction of national digital service export bases.
With its stunning natural environment, convenient and comfortable living facilities, a burgeoning industrial ecology, and thoughtful community services, Hainan is a prime location for a national digital service base. Over the past 13 years, entrepreneurs and business owners have flocked to this thriving hub to develop and nurture new ideas. At present, there are more than 10,000 registered businesses operating in Hainan Resort Software Community, including tech giants such as Tencent and Baidu.
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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