Blockchain
Illumishare launches presale of its $SRG token, backed by 24/7 live-streamed gold in Abu-Dhabi
Illumishare, a blockchain-based digital asset management ecosystem, announces the official presale of its Abu-Dhabi-licensed $SRG token, which will begin after its unveiling event in Dubai on November 22. The token is backed by 3 uncorrelated assets including gold, stored in a safe room at a bank in Abu-Dhabi and broadcast live 24/7.
The unveiling event will see the participation of his highness, ministers of the Emirate government, among respected business partners such as former JP Morgan VP Jason Tay, former CEO of Dubai Gold & Commodities Exchange Les Male, Polygon SVP Dalip Tyagi, former BlackRock executive David Munoz.
Consumer prices rose in 2021 at the fastest pace in 39 years, resulting in warnings such as major hedge fund Elliott Management claims that the global economy is at risk of crippling hyperinflation and conditions “that would be at or beyond the boundaries of the entire post-WWII period.” As consumers seek reliable alternatives to fiat currency, gold and other uncorrelated assets will serve as effective ways to retain the value of their money.
Designed to offer consumers a reliable inflation hedge and unprecedented financial security, Illumishare’s $SRG token is not a stablecoin as it is backed by three uncorrelated assets: gold, a cash recovery fund, and technology.
- Gold – Illumishare keeps a physical gold reserve in Abu-Dhabi equivalent to a percentage of the all-time high Market Cap.
- Cash – Meanwhile, a cash reserve is built from the margins between the gold market price and the gold price Illumishare pays, which will be used automatically for aggressive marketing.
- Tech – An auto burn mechanism, assets-backed NFT marketplace, staking mechanism, and payment gateway act as the third insurance mechanism.
In Q2 of 2023, Illumishare will launch its asset-backed NFT marketplace, which will only work with certified companies dedicated to tokenizing real estate assets, gold and diamond certifications, gold and diamond mines, and agricultural plants. The marketplace will incorporate the latest anti-fraud system, that will scan every NFT uploaded by creators and remove every scam project to keep our users safe, to ensure every project offered on the platform is 100% genuine.
“Only 4.23% of the world population has adopted crypto so far, and that’s because of failing projects and a lack of transparency and honesty that plagues the ecosystem,” says Ben Sharon, Co-Founder and CEO of Illumishare. “Through a combination of human capital, technology, cash and gold, we have created a new transparent economy driven by innovation that doesn’t discount the historic security of uncorrelated assets.”
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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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