Connect with us

Blockchain

Australia’s ANZ joins Project Guardian on tokenized assets

Published

on



Australia’s ANZ Bank is partnering with the Monetary Authority of Singapore, Chainlink Labs, and ADDX to explore tokenized assets and blockchain interoperability.

ANZ Bank, one of Australia’s “Big Four” banks, has become the first Australian bank to join Project Guardian, an initiative by the Monetary Authority of Singapore aimed at exploring how real-world assets can be represented as digital tokens on blockchains, according to a press release from ANZ.

This move allows ANZ to work with Chainlink Labs (LINK) and ADDX to test the exchange of tokenized assets, such as commercial paper, between private blockchains.

ANZ adopted Chainlink’s cross-chain interoperability protocol to simulate tokenized asset purchases. This move followed insights from the Swift blockchain interoperability project started in June.

Tokenization refers to the process of turning traditional assets, like money market funds, into digital tokens that can be used on blockchain networks. It converts real assets into digital tokens, allowing them to be traded more easily, like stocks or cryptocurrencies. 

ANZ aims to determine whether these digital versions of real-world assets can move more efficiently and securely across different blockchain networks. The bank hopes this will help improve how money and goods flow across the Asia-Pacific region.

Interoperability 

Tokenized assets often face interoperability issues, meaning different blockchains can’t easily communicate. Interoperability is a barrier to tokenization, often creating isolated networks that don’t inherently communicate with each other.

ANZ plans to use its experience with digital assets, such as its Australian Dollar stablecoin, to help customers navigate this evolving digital finance landscape.

According to the release, Project Guardian, launched in 2022, promotes collaboration between regulators and the financial industry to enhance liquidity and efficiency in financial markets through tokenization.



Source link

Bitcoin

Arthur Hayes-Backed Maelstrom Funds BIPs Editor Atack, BOB Launches Uniswap V3

Published

on



Maelstrom, a decentralization-focused venture firm managed by the family office of BitMEX co-founder Arthur Hayes, announced in a press release Thursday that Jon Atack (GitHub profile) is the second recipient of its Bitcoin Grant Program, to continue his research and development work. According to a bio, Atack started contributing to Bitcoin Core in 2019 and recently was made a maintainer and editor of the Bitcoin Improvement Proposals (BIPs) repository. “Bitcoin isn’t perfect,” Atack said in the press release. “Among other things, it needs further decentralization, continued vigilance, review, bug-fixing, updates, maintenance and improved robustness, performance, privacy, scaling, documentation and user experience.” Maestrom awarded its first developer grant earlier this month, after unveiling the program in July. The goal is to fund open-source Bitcoin developers, since unlike many newer crypto projects, Bitcoin has no single company or foundation driving the strategy or providing top-down funding.



Source link

Continue Reading

Blockchain

Crypto’s transparency and speed diminish any speculation

Published

on



Vibhu Norby, CEO of DRiP, suggested in a recent talk that blockchain technology reduces speculation due to its transparency and rapid information flow. 

Speaking to an audience at Solana Breakpoint, Norby used a simple prop, a bag with a purple wig, to illustrate how knowing what’s inside eliminates speculation. 

He compared this transparency to blockchain technology technology, where all participants have access to the same information.

“A blockchain is a system where everybody knows all of the information at all times. It’s very hard to argue that there isn’t speculation happening, because, again, anyone can speculate on anything at any time.” 

Vibhu Norby

Norby pointed out that speculation arises when people don’t fully understand a situation. In traditional markets, investors often guess the value of assets based on incomplete information.

Blockchain, however, operates differently — making every transaction visible on a public ledger limits the need for speculation.

Blockchain speculation

To further his point, Norby elaborated on the concept of loans in blockchain and DeFi.

In traditional lending, loans are often based on credit and opaque valuations, leaving room for speculation. On-chain lending, on the other hand, requires full collateralization — meaning the loan is fully backed by the asset’s value, which is publicly visible and verifiable.

This, Norby argued, makes it much less speculative.

While the rapid rise and fall of token prices may appear speculative, Norby explained that this is simply the market quickly discovering the real value of tokens. He suggested that faster blockchains like Solana (SOL) reduce speculation even further by enabling nearly instantaneous price discovery. 

According to Norby, many tokens rapidly lose value because the market immediately identifies their lack of underlying worth. Though speculation can never be entirely eliminated, Norby believes blockchain’s transparency and speed make it inherently anti-speculative.



Source link

Continue Reading

Art

Celebrating the 50th year of IMO Treaty with blockchain tech and art shows

Published

on


Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

The World Maritime Day 2024 will take place on September 26, 2024, with the International Maritime Organization World Maritime Day Parallel Event to be held in Spain from October 20-22, 2024. And art shows held in the US as part of Climate Week NYC. This year’s World Maritime Day marks 50 years since adopting the 1974 SOLAS Convention, the key IMO treaty regulating maritime safety, with a theme “Navigating the future: safety first!”

The theme is closely linked to the UN 2030 Agenda for Sustainable Development and several of the UN’s Sustainable Development Goals, particularly SDG 7 on ensuring access to affordable, reliable, sustainable, and clean energy research and technology; SDG 8 on promoting sustainable economic growth; SDG 9 on building resilient infrastructure and sustainable industrialization that fosters innovation; SDG 13 combating climate change and its impacts; and SDG 14 on conserving and sustainably using the oceans, seas and marine resources. As IMO Secretary-General Kitack Lim noted:

“This theme would allow us to focus on the full range of safety regulatory implications arising from new and adapted technologies and the introduction of alternative fuels, including measures to reduce GHG emissions from ships as IMO strives to ensure the safety and efficiency of shipping are maintained, and potentially improved so that the flow of seaborne international trade continues to be smooth and efficient.”

Usyncro is a Spanish-headquartered, sustainable online platform that simplifies international trade and transportation documentation by guaranteeing transparency, security, and carbon traceability through blockchain technology and artificial intelligence. The “Digital Logistics Corridor” won the “The Supply Chain Innovation” award from the United Nations Development Program this year. The platform uses AI and blockchain as a service by incorporating advanced functionalities focused on carbon footprint traceability, as detailed in Usyncro Investor Deck.

It cuts down on shipment related cost by bringing efficiency. It guarantees the integrity and traceability of documents, reducing the risks of fraud and errors. Facilitates compliance with international customs and tax regulations, a significant challenge for businesses engaged in global trade by reducing compliance risk of penalties. Therefore, the platform offers a step towards sustainability in global logistics. Cristina Martin, CEO and co-founder of  Usyncro, explained that her platform is “a B2B & B2G multimodal, carbon neutral, interoperable, and dynamic SaaS platform that streamlines global logistics by using artificial intelligence and blockchain as a service. We are currently focused on Europe and Latin America, but we want to expand into the USA.”

Usyncro officially began operating in Latin America after signing an alliance with ALACAT, the Federation of National Associations of 16 countries of Freight Forwarders and International Logistics Operators of Latin America and the Caribbean. This alliance intends to promote digital corridors between Europe and Latin America and was strengthened with the  interoperability agreement between Usyncro and CargoX, two leaders in blockchain-based solutions for the electronic management of commercial documents within the supply chain. As Cristina Martin added:

“We have valued this impact in the volume of documentation generated when shipping goods and for every ten tons of paper we are saving 4,000 tons of CO2 emissions into the atmosphere.”

This sustainable partnership between Usyncro and CargoX, leverages blockchain technology for logistics and document management and significantly eases the complexities of international trade. It streamlines processes, reduces barriers to entry into new markets, facilitates regulatory compliance, and enhances global trade management. The collaboration not only represents a step forward in digitalizing international trade but also opens up a wealth of opportunities for businesses and entrepreneurs to innovate and grow in the global marketplace. As such, it stands as a beacon for the future of international commerce, where blockchain technology drives efficiency, transparency, and accessibility.

CWNYC World Maritime Day Art Shows

As part of my Climate Week NYC art shows, I prepared two events for World Maritime Day, which are United Nations General Assembly events.

Celebrating the 50th year of IMO Treaty with blockchain tech and art shows | Opinion - 1
Source: Climate Week NYC

I collaborated with the world’s first Climate Change Museum, CUHK Jockey Club Museum of Climate Change, Climarte, Lord Howe Island Museum, Teiduma, SEACHA, and its partner Thai-based Changing Climate Changing Lives Film Festival to prepare these events that will be held at Putnam History Museum and Havre de Grace Maritime Museum. 

Selva Ozelli’s CWNYC Art Shows

Date: September 26

12-1 PM, PHM, 63 Chestnut Street, Cold Spring, NY

10 AM – 5 PM, HDGMM, 100 Lafayette Street, Havre de Grace, MD



Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon