Blockchain
Bybit and DMCC Crypto Centre Announce Top Ten Finalists for the Web3 Unleashed: Crypto Innovation Challenge
Bybit, in collaboration with the Dubai Multi Commodities Centre (DMCC) Crypto Centre, is proud to announce the top ten finalists for the hackathon: “Web3 Unleashed: Crypto Innovation Challenge.” This showcases innovative Web3 startups and aspiring businesses in the UAE, showcasing their contributions to the digital asset market.
From the 100 teams who applied, ten have been selected for their groundbreaking work across various sectors of the blockchain industry, including GameFi, decentralized finance (DeFi), NFTs, and sustainable blockchain solutions. These teams will present their entries at the event showcase on Nov. 22.
Team EVA.IO is pioneering a decentralized Supervised Machine Learning rating system for Crypto, DeFi, and NFTs, while Cyborg Network redefines cloud computing within the Polkadot Ecosystem. Copin empowers users to leverage insights from top on-chain traders, and Pravica pioneers peer-to-peer Web3 messaging and value transfer infrastructure.
Top Ledger introduces an enterprise-level blockchain analytics solution, as Edu3Labs merges education with blockchain for a more rewarding learning experience, and iTeller is a profitable fintech/crypto OTC business. Meanwhile, Timeswap breaks new ground with its fully decentralized lending and borrowing protocol.
Akka brings AI-powered efficiency to cross-chain asset movement, and DRIFE, dubbed “Taxi 3.0,” aims to overhaul the traditional ride-hailing industry. These ten teams stand to win from a prize pool of up to 100,000 USDT, including a cash prize equivalent to 50,000 USDT and additional prizes worth 50,000 USDT, such as access to Brinc’s accelerator, a complementary DMCC license, and a Hacken smart contract audit.
“The ‘Web3 Unleashed: Crypto Innovation Challenge’ is more than a competition; it’s a testament to the transformative power of collaboration in the era of blockchain technology,” said Ben Zhou, co-founder and CEO. “Fostering an environment where innovation thrives is one of our top priorities on our mission to become the world’s Crypto Ark.”
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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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