Blockchain
Cypher Capital Allocates $5 Million To Invest In Ocean Protocol Ecosystem Projects
Cypher Capital, a venture capital firm located in the UAE, announced that it has set up an ecosystem fund together with Ocean Protocol according to which it will be allocating $5 million to invest in Ocean Protocol projects. Ocean Protocol is a platform for data exchange and monetization that builds on Ethereum and other EVM-compatible blockchains.
The open-source protocol facilitates the exchange and monetization of data and data-based services, allowing people to buy and share information securely while preserving privacy. Ocean Protocol makes use of “datatokens” to give businesses and individuals access to data, where tokens can be redeemed to access information.
Ocean Protocol aims to build a new Data Economy powered by a dynamic group of builders and start-ups. So far, over 150 projects have been funded via OceanDAO and Shipyard programs to encourage and support grassroots innovation. Projects like Algovera, DataUnion, Data Whale, DataX, Felt, Ocean Pearl, Swash and Transport Genie are some of the many funded initiatives that are now positioned as catalysts for Ocean’s wide scale adoption.
Bijan Alizadeh, Co-Founder and Partner of Cypher Capital, stated, “We are so excited to be investing in projects together with Ocean Protocol. We will support data marketplaces backed by top-tier corporations that are integrating Ocean Protocol into their data-driven business models and building applications tailored for data services through the Ocean Protocol platform.”
Cypher Capital’s investment team will review and evaluate Ocean Protocol’s proposals, off of which decisions will be made. The $5 million investment will be spread out across 20 projects over 24 months, or two or three investments of a minimum of a quarter-million each per quarter if a project is highly recommended by the Ocean Protocol team.
Ocean Protocol Founder Bruce Pon commented: “Cypher Capital’s commitment to invest in the Ocean Protocol ecosystem is a recognition of the potential of a new Data Economy and Ocean’s leading role in the space. The Ocean ecosystem has generated a pipeline of promising projects which are nearing viability for seed funding. Meanwhile, Cypher Capital brings deep connections with the Middle East, North Africa and South Asia ecosystem that projects can leverage to springboard forward. With Dubai accelerating its push to be the node for global crypto-innovation, Cypher Capital’s extensive resources, and the innovation emanating from the Ocean community, we’re excited to see the next wave of adoption focused on data.”
Ocean Protocol is spearheading the move to unlock a new Data Economy by breaking down data silos and making quality data accessible. Ocean’s marketplace technology allows data to be published, discovered, and consumed in a secure, privacy-preserving manner. Ocean helps to give data owners the comfort and safety to share and monetize data without losing control.
With a hands-on approach of nurturing start-ups in their initial phase, Cypher Capital has played an important role in the growth of successful crypto and blockchain start-ups including Kilt Protocol, Sheesha Finance, PAID Network, Splinterlands, CasperLabs, Matterless Studios, Prasaga, AukiLabs and Cross The Ages.
Cypher Capital is building a 10,000 sqft. hub for blockchain and crypto start-ups which is set to open in Q4 2022 in Jumeirah Beach Residence, Dubai. The hub reflects the company’s commitment to the blockchain community and its vision to provide mentorship and guidance to its members in all matters relating to their projects.
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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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