Blockchain
BankProv Joins Forces with Fortress Trust to Create a Strong Regulatory and Financial Foundation for Web3 Innovators to Launch
BankProv (NASDAQ: PVBC), a future-ready commercial bank offering adaptive and technology-first banking solutions to emerging industries, announced a new Banking-as-a-Service (BaaS) partnership with Fortress Trust, a Web3 infrastructure company, and Treasury Prime, a leading BaaS technology provider. Through this partnership, Fortress will launch its advanced NFT, crypto, fiat, and alt-asset infrastructure and custody services, with fiat services provided by BankProv.
The Fortress platform will offer APIs where users can buy, sell, store, and gift NFTs and other assets in one simple to-use, secure location. Fortress will provide a variety of services, including accounts where users can receive royalties directly into Royalty Escrow Accounts. Through the platform, artists, athletes, agents and publishers all have “read only” access to the Royalty Accounts, providing full transparency and ensuring everyone who is supposed to get paid, gets paid.
BankProv will assist in providing technical and operational support utilizing its fully integrated API suite with Treasury Prime. Treasury Prime’s API layer will connect applications to BankProv’s infrastructure. This gives crypto and blockchain companies working through Treasury Prime’s API software the ability to create a payments ecosystem customized to their platform, streamlining the transaction process.
“BankProv is one of a few banks in the nation to establish depository services for crypto-related businesses,” said Albert Forkner, CEO of Fortress Trust and former Banking Commissioner of Wyoming. “Their proven track record with supporting businesses in the digital asset space with insured deposit products and BaaS services will provide our end users with an even better experience.”
“BankProv is an innovative financial institution with industry leading products designed to meet the needs of the crypto and digital asset industry,” said Chris Dean, co-Founder and CEO of Treasury Prime. “We believe that in partnership, we have the capabilities to easily and seamlessly deliver institutional-level services to this burgeoning crypto sector.”
Currently, Fortress supports over 200 types of blockchain assets, as well as fiat and securities, including NFTs minted on Ethereum, Polygon, and Solana and will soon be adding BSC and other blockchains.
“Fortress brings a breadth of expertise across the regulatory and crypto industry with its leadership team,” said Dave Mansfield, CEO of BankProv. “We are thrilled to partner with a team that has their depth of knowledge and compliance-oriented mindset. Their best-in-class platform security combined with their unique product offering creates a truly enterprise-grade product.”
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.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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Blockchain
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