Synapse is able to simultaneously create settlement instructions for all parties along the settlement chain, facilitating concurrent processing, while also providing near-instantaneous status updates to all parties involved in the trade, a technical pamphlet explains, which is important when connecting traders in two different markets. Source
Tag: BlockchainBased
FTX Japan Launches Blockchain-based Proof of Solvency to Enhance Transparency and Security
In an effort to enhance transparency and bolster the trust of its customers, FTX Japan has unveiled a blockchain-based technology known as Proof of Solvency (PoS). This initiative was announced by Seth Melamed, the COO of FTX Japan, through a series of tweets on September 28, 2023. The newly introduced Proof of Solvency mechanism enables the company to prove, in an unalterable manner, that the reserves of the exchange surpass the assets held in custody for customers. Proof of Solvency (PoS) is a method utilized to demonstrate a company’s capability…
Brazil rolls out blockchain-based digital ID
Over 214 million Brazilians will soon be using blockchain technology for digital identity, the government recently announced. Rio de Janeiro, Goiás, and Paraná will be the first states to issue identification documents on-chain through a private blockchain developed by Serpro, Brazil’s national data processing service. The entire country should be able to issue identity documents through blockchain technology by November 6, reads a decree on Sept. 25. According to Alexandre Amorim, president of Serpro, the immutability and decentralization of blockchain made it an ideal technology for the country’s digital identification…
Blockchain-Based Lending Platform OpenTrade Joins Asset Tokenization Race with Tokenized US Treasuries Offering
The offering is accessible to individual accredited investors, regulated institutions, companies, funds and decentralized autonomous organizations, according to the firm’s press release. Third-party distributors can also integrate OpenTrade’s pool and power their own white-labeled yield offering. Source link
Buenos Aires to issue blockchain-based digital ID
Buenos Aires, the capital of Argentina, is making a major move toward integrating its bureaucracy with blockchain technology. Starting in October, the city’s 15 million residents can access identity documents via a digital wallet, according to an announcement on Sept. 28. The first documents to be available on-chain include birth and marriage certificates, along with proof of income and academic verification. The announcement notes that health data and payment management will be integrated in the future, and that a roadmap for rolling out the blockchain-based solution across the country will…
The Rise of Blockchain-Based Securities in 2023
More pertinently to advisors, perhaps, is what’s happening on the money market & treasury fund side and the private equity & private credit side – two very different investment profiles, yet two symbiotic cohorts here. Tokenized money markets and treasuries have now surpassed $650 million in collective AUM, essentially acting as a low-risk yield-generating vehicle to park capital in a digital system. That’s all. As new opportunities open up, such as in the alternatives space, it’ll be more seamless to swap from on-chain money markets to on-chain private equity, for…
JPMorgan unveils blockchain-based token for faster payments
JPMorgan Chase & Co. is delving into the realm of blockchain-based digital deposit tokens, aiming to enhance cross-border payments and settlements. However, regulatory approval remains a crucial hurdle for this innovative payment method. According to a Bloomberg report, the New York-based investment bank and financial advisor is deepening its roots in the blockchain ecosystem and rolling out a new blockchain-based deposit token to enhance payments on its platform. In simple terms, deposit tokens are digital representations of deposits held by customers in commercial banks. These tokens are designed to streamline…
London Stock Exchange will develop a blockchain-based project
According to an executive, the London Stock Exchange Group is moving forward with the development of a blockchain-powered trading venue. Murray Roos, head of capital markets at the LSE Group, explained to a Financial Times that Julia Hoggett, director of the London Stock Exchange, will lead the next blockchain project. Roos added that the institution has been researching the potential benefits of using blockchain for its new project, but it won’t be crypto-related. The executive stated that the idea would be to use blockchain technology to make the new project…
The Psychology of Failure, and Its Meaning for Web3 Blockchain-Based Games
In response to critics who claim Web3 gaming isn’t sustainable or fun (which may have held merit at one point), the industry has invested heavily in R&D, user experience and collaborating with traditional gaming businesses. The down market washed away a lot of flawed models and uninspiring storylines, and reignited an interest in gameplay, among developers. Source
Famous Game ChuanQi IP Launches Blockchain-Based MORPG, MIR2M: The Dragonkin, in 170 Countries
ChuanQi IP, a subsidiary of Wemade, has recently released a promotional video for its new blockchain-based Multiplayer Online Role-Playing Game (MORPG), MIR2M: The Dragonkin. The video was revealed on the company’s official YouTube channel and provides a glimpse into the narrative of the MIR2M series. Wemade, the parent company of ChuanQi IP, is a well-established entity in the gaming industry. The company has a diverse portfolio of games, ranging from traditional online games to mobile and blockchain-based games. Wemade’s commitment to innovation and the integration of emerging technologies like blockchain…