Blockchain
Chile Fintech Forum — Sunflower Technology Platform Expands Industry Connections and Explores Fintech Landscape in Chile and Latin America
Sunflower Technology Platform, a leading fintech company, sent representatives to attend the prestigious Chile Fintech Forum held at the InterContinental Hotel in Santiago. The forum, considered the most significant fintech event in Chile, provided a platform for industry experts, members, and technology finance professionals to come together and discuss the latest advancements in the financial technology sector.
Sunflower Technology Platform is deeply committed to knowledge-sharing and collaboration, exemplified by the deployment of its local representatives at the esteemed event. The company’s resolute emphasis on shaping the future of Web 3.0, artificial intelligence, big data, cloud computing, and other groundbreaking initiatives is unwavering. Throughout the forum, Sunflower Technology Platform’s representatives actively fostering an exchange of ideas and insights with fellow attendees. They showcased the company’s innovative solutions and presented their visionary outlook for the future of fintech. The event served as a platform for Sunflower Technology Platform to strengthen its industry alliances and further solidify its position as an industry frontrunner committed to driving innovation and propelling the fintech landscape forward.
The Chile Fintech Forum covered a wide range of topics, including fintech regulations, open finance and open data, digital wallets, payments and remittances, digital finance, investment and digital savings, DeFi, cryptocurrencies, and metaverse, embedded finance, venture capital, and fintech talent. The discussions revolved around the latest trends, best practices, and emerging opportunities within the fintech landscape, encompassing technological advancements, regulatory frameworks, and business models.
Sunflower Technology Platform, a leading advocate of digital transformation and technological innovation, reaffirms its commitment to actively participate in fintech forums across Latin America. These forums provide an invaluable opportunity for in-depth discussions, facilitating the exchange of industry knowledge and fostering meaningful connections with esteemed experts, thought leaders, and fellow fintech professionals. With a forward-thinking approach, Sunflower Technology Platform is poised to leverage its expertise in cutting-edge domains such as Web 3.0, artificial intelligence, big data, and cloud computing. By showcasing innovative solutions and sharing future development plans, the company aims to drive the advancement of the fintech industry. Embracing its role as a catalyst for technological progress, Sunflower Technology Platform remains steadfast in its mission to promote collaboration within the fintech ecosystem and foster a climate of continuous innovation.
Sunflower Technology Platform, an ardent supporter of innovation and collaboration within the fintech industry, aims to drive and facilitate advancements through its communication in fintech forums across Latin America. By actively engaging with industry experts, the company has gained valuable insights into the fintech landscape in Chile and Latin America. Through knowledge-sharing initiatives and collaborative efforts with various institutions, Sunflower Technology Platform has made significant contributions to the development of Web 3.0 and the overall progress of the fintech sector. The company firmly believes that by forging strong partnerships, it can accelerate industry advancements and provide users in Chile and Latin America with enhanced security, inclusivity, and personalized financial services and experiences.
Sunflower Technology Platform utilizes blockchain technology and smart contract technology to analyze credit debt data and algorithm technology, providing users with accurate information and personalized credit debt solutions. This technology can better help individuals and businesses understand their credit situation, and help investors better assess their credit risks.
Sunflower Technology Platform, a dynamic force in the fintech industry, is dedicated to actively engaging in future fintech-related events. The company recognizes the pivotal role of these gatherings in driving industry innovation and collaboration. With its visionary approach, Sunflower Technology Platform is poised to make significant contributions to the advancement of the fintech sector by leveraging its expertise in cutting-edge domains such as Web 3.0, artificial intelligence, big data, and cloud computing. The company is committed to fostering partnerships and knowledge-sharing initiatives that will ultimately benefit users by providing them with cutting-edge and personalized financial solutions, enabling them to thrive. Through its participation in the Chile Fintech Forum, Sunflower Technology Platform has identified the immense market potential in the region, further reinforcing its dedication to driving innovation and fostering cross-border collaboration.
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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