Category: Blockchain

MENA Climate Week notes blockchain’s potential for climate action

Panelists at the recent MENA Climate Week 2022 examined how blockchain technology can contribute to green initiatives. Hosted by Dubai’s Ministry of Climate Change and Environment, Dubai Electricity and Water Authority, and the World Green Economy Organization along with various institutions under the United Nations Environment Programme and in partnership with renewable energy groups, the event explored how to promote climate action using digital innovations. In one session, a hybrid panel made up of experts in blockchain and climate action discussed how blockchain use cases can contribute to a greener…

West Ham United Inks Deal with Fetch.ai, Harnessing the Power of AI & Blockchain

West Ham United, one of the top football clubs in the English Premier League (EPL), has selected Fetch.ai as its official artificial intelligence partner for the women’s and men’s teams. As artificial intelligence (AI) and machine learning-based blockchain platform, Fetch.ai will improve business and day-to-day activities at West Ham United.  For instance, by using digital twins or autonomous economic agents availed by Fetch.ai, the West Ham United fraternity will have the opportunity to eliminate intermediaries by gaining full control of their digital interactions like booking a hotel, making travel arrangements,…

How Blockchain Technology is Revolutionizing The Financial Services Industry

Ever since Bitcoin came into play as a cryptocurrency offering an alternative to traditional finance, blockchain technology has been disrupting the financial services industry through its unique capabilities and applications. The revolutionary technology is set to improve every section of the traditional finance industry, including retail banking, capital markets, and asset management. Notably, blockchain technology has gradually advanced into the world of payments to transform the traditional transaction environment, driving efficiency and simplicity by establishing new financial processes and services infrastructure. It enables the inflow of liquid cash through smart…

Hong Kong Firm Prima Asia to Launch Blockchain Payment in APAC

Hong Kong-based startup Prima Asia Limited said it would launch innovative blockchain payment technology in the Asia-Pacific region this year. Prima Asia Limited plans to launch a payment technology called “Primawire” in the fourth quarter of this year. Blockchain technology will provide customers and businesses with faster transfer speeds, more secure payment solutions while reducing transaction fees by 70%. The Chief Executive Officer of Prima Asia Limited, Jia Shaoqing, said that: “Our company has already forged relationships with several of Asia’s largest financial institutions, and the payments prototype has…

Blockchain and climate action gets highlighted at MENA Climate Week

MENA Climate Week kicked off on Tuesday with a focus on discussing the use of blockchain technology for bringing transformative climate action to the region. Kristina Cornèr, Cointelegraph’s editor-in-chief, shared her insights in a panel discussion on how the climate action sector can benefit from the crypto and blockchain community. In the session held in Dubai, United Arab Emirates, Cornèr discussed topics ranging from the media’s role in educating the masses about blockchain to trust and collaboration within blockchain projects and how the climate action community could use the blockchain community’s…

Binance Upgrades Blockchain Bridge to Connect DeFi and CeFi

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

DeSo Blockchain Users Exceeds 1.5 Million, Decentralized Social Token up Nearly 90% within 24 hrs

New type of blockchain designed to power Web 3.0 decentralized social networks. DeSo Blockchain announced that they have created over 1.5 million accounts on their network. DeSo, short for “decentralized social,” is the first and only blockchain custom-built from the ground up to power and scale a new category of decentralized social applications to one billion users. The DeSo blockchain is supported by the non-profit DeSo Foundation, whose broad mission is to support the decentralization of social media. Decentralized Social was up nearly 90% in the last 24 hours, hitting…

NFL Announces to Host 2024 Draft in Detroit, Seeking Blockchain Sponsorship Deals

National Football League (NFL) announced Monday that the NFL 2024 draft will be held on April 24 at Matthews Campus Park in downtown Detroit, and began seeking blockchain sponsorship deals this week. Currently, teams are still banned from cryptocurrency sponsorships. However, NFL clubs are allowed to seek blockchain sponsorships through platforms like Coinbase and FTX. Reportedly, the revenue from NFL’s sponsorship has been reached nearly $2 billion in the 2021 season, and sponsorships related to the blockchain industry in the next season will exceed last year’s total sponsorship amount. The possible…

DMG Blockchain Solutions Quarterly Revenue Leaps $14.2m, up 639% Year-over-Year

Blockchain and cryptocurrency company DMG Blockchain Solutions announced a record revenue of $14.2 million in the first quarter of 2022, up 639% year over year. The company said thanks to the delivery and installation of ordered crypto miners, the company’s hash rate has been increased to over 400PH/s as of December 31, 2021, resulting in a leap in revenue increase.  Compared to the first quarter of last year, gross margin and net income were $11.5 million and $5.9 million, an increase of 2,000% and 826%, respectively. The financial report stated that as…

SK Square Earmarks $1.6b to Invest in New Tech Including Blockchain

SK Square, the largest shareholder of South Korean chipmaker SK Hynix, is reportedly earmarking the sum of 2 trillion won ($1.63 billion) to invest in new technologies, including chips and blockchain. Per a Reuters report, the investment will feature a number of targeted partnerships with both domestic and foreign investors alike. “We are considering investments in companies ranging from those that are big in scale to those that are small,” Co-CEO of SK Hynix Park Jung-ho, who is also CEO of SK Square, said in its annual shareholder’s meeting. SK Square…