Blockchain
Bitget to invest in Indian Blockchain Startups To Support the On-going Crypto Adoption Wave
Bitget, the leading cryptocurrency derivatives and copy trading platform, has announced its strategic plans of investing in blockchain startups based in India, under its Blockchain4Youth (B4Y) $10 million Web3-focused project. The initiative kicks off on 6th November and will conclude on 4th December, 2023 at BUIDL for Web3, India’s premier multi-chain summit, organized by Lumos Labs and BuidlersTribe, powered by Bitget. Indian startups will get the opportunity to pitch to Bitget and top VCs within the space during the event as a part of the initiative.
With this program, Bitget aims to identify valuable and promising projects in the crypto space and provide them with comprehensive support, accelerating innovation in emerging technologies. Under the Blockchain4Youth project, Bitget has adopted a 360-degree approach as it plans to invest $10 million through the initiative over the next 5 years.
BUIDL for Web3, aims to gather thousands of developers and founders to battle against the odds. The month long program consists of shortlisting over 100 startups to begin. Amongst which, only the top ten startups will stand to share their pitches with Bitget and renowned VCs such as Sequoia Capital, Lightspeed Ventures, Draper Labs and more.
“India’s resilience and constant advancements towards blockchain and crypto makes it the most wanted place to invest in Asia currently. The talent, the entrepreneurial spirit, it’s everything celebratory and we’re here to empower it. With our Blockchain4Youth, we look forward to accelerating the next big fours of cryptospace,” said Gracy Chen, Managing Director at Bitget.
Previously, through the B4Y Under 30 Virtual Hackathon, Bitget invested in Indian startups which made it to the winnings. This includes Grease Pencil – an AI based script writer, storyboard generator with frames and images for the entire script in seconds, HAIr – AI that helps via job description generation, extract essential keywords and details from both job descriptions and CVs, facial and audio analysis and data-driven candidate selection for HR and Derma360 – an AI enabled Dermatological app that makes analyzing skin conditions user-friendly and effortless.
The startup pitch program is open to all developers, entrepreneurs and founders based in India. The eligibility criteria to participate are as follows:-
- The project should display a working minimal-viable product, with a real world use case.
- Blockchain enthusiasts, developers and entrepreneurs are welcomed to showcase their products around DeFi, GameFi, Metaverse, NFTs, Tokenized ecosystems, Blockchain-AI solutions and more.
- Projects should hold multiple layers of security functionalities and should be open for auditing
The rising interest of India’s youth into building blockchain based application bolsters the nation as one of the top hubs for development and talent. A recent study by Bitget Academy, Millennials and Gen Z representatives are the driving forces behind the development of a crypto’s future, with the former comprising 46% of crypto enthusiasts. With the launch of Bitget’s new initiative into the Indian market, the company aims to accelerate the on-going crypto adoption wave in the region .
“We have witnessed massive growth and retention within the crypto sector in India. The country has emerged as one of the global web3 leaders as it garners a rising interest in investments, from major web3 players worldwide. With the opportunity and exposure provided through Bitget’s program, Indian web3 startups have an exceptional opportunity to kickoff their journey and create sustainable web3 innovation.”, added Kaavya Prasad, Founder, Lumos Labs.
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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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