Blockchain
Raigarh incorporates Blockchain to monitor industrial CSR Tree Plantation
The Raigarh District Administration has launched a sustainable Blockchain Based Monitoring System for tracking industrial Corporate Social Responsibility (CSR) plantation activities in the city. Utilizing NEAR Protocol‘s fast and low cost operational platform and the innovative technological offerings of Airchains, a cutting-edge blockchain-based middleware SaaS solution, the administration is determined to make significant elevations to the tree plantation mechanism to enable transparency, traceability, and accountability within the sector and regenerate its lost greenery.
Raigarh as a district is home to several industries, including steel, power, and cement, among others. These industries have been actively engaged in CSR activities, including plantation drives, to contribute to the local community and environment. However, ensuring that industries abide by their commitments and monitor the progress of plantation activities is a daunting task for district administrations. The administration also faces a significant challenge of verifying the accuracy of the reports shared by industries outlining their tree plantation and CSR initiatives which requires serious capital and labour.
Leveraging blockchain technology that has been increasingly penetrating different sectors due to its secure, transparent, and immutable nature provides for the perfect solution. The blockchain based monitoring system, developed by Airchains, is focused on providing accurate, immutable, verifiable, and real-time information to the stakeholders of the project along with ensuring the listed industries are compliant with the regulations related to the plantation sector. Over 50 industries have been inducted into the engagement with over 3358 trees planted across 94,945 sq ft so far.
“The initiative to incorporate blockchain technology to enable a trackable and verified system for our industrial CSR efforts is a step forward towards a greener tomorrow. The key problems of the sector can be placated with the use of this immutable tech designed to reduce inefficiencies and capital consumption by providing an automated and accurate alternative. Enabling real time data monitoring and access to the public and any stakeholders, we are nurturing transparency in otherwise opaque administrative processes for the public,” Shri Abinash Mishra, IAS , Zilla Panchayat CEO, Raigarh Chhattisgarh added.
The system provides different functionalities including a unique Tree Aadhaar for easy tracking and storing of data, dashboard login for district administration and listed industries, and the latest plantation data covering holistic aspects such as type, location, time, date, number of trees planted. Additionally, the platform has a smooth user interface designed for listed industries to feed information readily into the system and tracks real-time Air Quality Index (AQI) which is accessible to any visitor to depict the direct effect of these afforestation efforts for public and stakeholders consumption.
“We are honoured to partner with the Raigarh District administration to fulfill their sustainability and CSR objectives. Through this system, they have established a groundbreaking precedence of establishing transparency and traceability to the CSR initiatives in the district and are leading the way with their technological adoption. We believe that this system will set a new standard for sustainable forest management and inspire other governments and organizations to adopt similar initiatives.” Ankur Rakhi Sinha, Co-founder and CEO, Airchains
“We are thrilled to be partnering with Raigarh District Administration to empower sustainable development through blockchain technology. As a public sector player in the forefront of innovation for the public good, they are leading the way in India and we are happy to be a positive catalyst to their initiative with our solution,” said Arpit Sharma, Managing Director, India, SE Asia, and Middle East.
The one-of-its-kind project has two phases of implementation with the first phase including the onboarding of industries, verifying data relating to their tree plantation activities, generating a unique Tree Aadhaar for each tree, and monitoring their maintenance. The second phase aims to monitor the effectiveness of this system for better future planning and geographical assessment. Along with that, the system will further monitor the carbon footprint or lack thereof, to present opportunities for the district administration to leverage carbon credits.
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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