Tag: Blockchain

Blockchain improves charity transparency — But is it right for everyone?

In 2021, the Australian branch of the Red Cross received $90 million to aid the victims of the bushfires that plagued various regions of New South Wales and Victoria.  However, the organization soon came under fire for its lack of transparency when it revealed that it would only distribute around one-third of the intended funds on immediate assistance and that it could take up to three years to distribute the total amount. One resident who lost his home to the fires told local media, “They made a lot of promises…

Google Cloud teams up with MultiversX amid blockchain firm’s focus on metaverse

Google Cloud has teamed up with blockchain infrastructure firm MultiversX (formerly Elrond) to boost its Web 3 presence. Google Cloud has integrated MultiversX into the platform which will in turn help Web3 projects and users derive valuable insights from powerful data analytics and artificial intelligence tools within the Google Cloud ecosystem. MultiversX claims that the partnership between the two firms has the potential to immediately streamline the execution of large-scale, data-first blockchain projects. This should help developers easily access data about addresses, transacted amounts, smart contract interactions, and increased on-chain analytics, the…

DTCC Acquires Blockchain Firm Securrency for Undisclosed Amount to Steer Forward Its Digital Assets Agenda

Through the acquisition by DTCC, Securrency will henceforth become DTCC Digital Assets with top executives also joining the new force under different roles. DTCC, a New Jersey-based post-trade market infrastructure for the global financial services industry that helped process securities transactions worth over $2.5 quadrillion in 2022, has announced a strategic acquisition of Securrency, an institutional-grade blockchain firm, for an undisclosed amount. According to the announcement, the acquisition of Securrency by DTCC is expected to close within the coming few weeks. Following the acquisition, Nadine Chakar, the Chief Executive Officer…

Settlements giant DTTC acquires blockchain infrastructure developer Securrency

The Depository Trust & Clearing Corporation (DTTC) has signed an agreement to acquire Securrency, a digital asset infrastructure developer. The acquisition will allow DTCC to embed digital assets gradually in its existing products and services, it said. Terms of the deal were not disclosed. It is expected to close “within the next several weeks.” Securrency will be renamed DTCC Digital Assets. Securrency’s top management and around 100 employees will remain with the company. The company was backed by State Street, U.S. Bank, WisdomTree and Abu Dhabi Catalyst Partners and partnered…

DTCC acquires blockchain startup Securrency in a $50 million deal

The Depository Trust & Clearing Corp. (DTCC) has acquired blockchain startup Securrency Inc. for an estimated $50 million, marking its first buyout in a decade and signaling a significant push into blockchain-based financial services. In a strategic initiative to enhance its blockchain technology offerings, the Depository Trust & Clearing Corp. (DTCC) has confirmed its acquisition of Securrency Inc., a Maryland-based blockchain startup. Reports from Bloomberg suggested that the deal is valued at approximately $50 million. This marks DTCC’s first acquisition since 2013. Frank La Salla, CEO of DTCC, highlighted that…

India state refiner HPCL uses blockchain to verify purchase orders

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India’s state-run refiner Hindustan Petroleum (HPCL), one of India’s largest oil and gas companies, is launching a blockchain system to enable automated verification of purchase orders (POs). HPCL has partnered with the blockchain software firm Zupple Labs to integrate its blockchain-based digital credentialing technology into the purchase order system, the firms said in a joint announcement. Called LegitDoc, Zupple Labs’ verification tech enables HPCL to issue digital POs to its vendors without having to manually verify the PO requests. From a third-party verifier’s perspective, the project provides a facility to…

xDay 2023 Day 1: How MultiversX Is Bridging The Metaverse, AI, And Blockchain Under Ecosystem

In the next three days, our team at Bitcoinist will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 and focused on the Metaverse, one of the hottest trends in crypto. Following The Trend, What To Look For At xDay 2023? In addition to rebranding, the project launched new products, including a “Super App” called xPortal, to expand its ecosystem. The project founder and CEO, Beniamin Mincu, has been vocal about their attempts to provide “real”…

Scroll Launches zkEVM Mainnet | Blockchain News

On October 17, 2023, Scroll, an open-source, community-centric Ethereum scaling solution, unveiled its mainnet, marking a pivotal stride towards augmenting scalability and propelling developer adoption on the Ethereum blockchain. This comes after two years of extensive development and stringent testing, utilizing zero knowledge (zk) proofs to offload computation from the primary blockchain, thereby addressing the challenges of rising network traffic and costs on Ethereum due to its burgeoning user and project base. Scalability Unleashed Employing zk proofs, Scroll has innovated a mechanism that significantly boosts transaction throughput, by expediting transaction…

Blockchain innovation or dangerous house of cards? – Cointelegraph Magazine

Ethereum restaking — proposed by middleware protocol EigenLayer — is a controversial innovation over the past year that has some of the brightest minds worried about the potential ramifications. Restaking involves reusing staked or locked-up Ether tokens to earn fees and rewards. The restaked tokens can then help secure and validate other protocols.  Proponents believe restaking can squeeze additional security and rewards from already staked ETH and grow the crypto ecosystem in a healthier way based on Ethereum’s existing trust mechanisms. Restaking could serve as a security primitive for exporting…