Source: Cointelegraph Decentralized AI networks, enhancement of smart contracts and emerging DeFi protocols are some of the upcoming trends in blockchain, according to EUBOF. The European Union (EU) has been advised to brace for the convergence of blockchain technology and artificial intelligence (AI). The European Blockchain Observatory and Forum (EUBOF) — an initiative of the… Continue reading EU Commission urged to prepare for blockchain and AI integration
Category: Market News
Elon Musk’s xAI raises US$6 billion from investors including Sequoia, Andreessen Horowitz to challenge OpenAI
Source: South China Morning Post The Series B round comes less than a year after xAI’s debut and marks one of the bigger investments in the field Musk had been an early backer of OpenAI, but he later withdrew his support and has advocated caution because of the technology’s potential dangers Elon Musk’s artificial intelligence… Continue reading Elon Musk’s xAI raises US$6 billion from investors including Sequoia, Andreessen Horowitz to challenge OpenAI
HKMA’s New Guidelines Aim to Equip Bank Employees for AI Transformation
Source: Fintech News Hong Kong In response to the rapid integration of Artificial Intelligence (AI) in banking, the Hong Kong Monetary Authority (HKMA) announced updated guidelines focused on manpower development and training in the banking sector. This initiative reflects the HKMA’s commitment to supporting the industry’s adaptation to AI advancements while ensuring sustainable employment practices.… Continue reading HKMA’s New Guidelines Aim to Equip Bank Employees for AI Transformation
Dubai-based Metaverse company Everdome unveils their new digital theater
Source: Tahawultech Dubai-based metaverse company Everdome unveiled their new metaverse Digital Theater, the latest expansion to their metaverse experience, which aims to usher in a new era of accessible digital creation for a new generation of digital pioneers. Following closely after the release of their easy to use Spaces Metaverse-as-a-Service creators tool, allowing all types… Continue reading Dubai-based Metaverse company Everdome unveils their new digital theater
NFT as the new Swiss bank accounts for the Web3 era
Source: Cointelegraph This Swiss fintech aims to modernize banking infrastructure by using Web3 technology: ERC-721 NFTs for client IDs and ERC-20 tokens for deposits. Swiss fintech Fiat24 is rebuilding banking infrastructure using Web3 technology, utilizing ERC-721 to represent clients’ on-chain IDs and ERC-20 for deposits. From the early days of online banking and the digital… Continue reading NFT as the new Swiss bank accounts for the Web3 era
Polkadot community greenlights continuous funding for ecosystem innovators
Source: CryptoSlate Polkadot’s model mirrors Ethereum layer-2 Optimism’s Retroactive public goods funding (RetroPGF) mechanism. The Polkadot community has approved the Optimistic Project Funding proposal to support projects that enhance the blockchain network’s ecosystem. The proposal received unanimous approval, backed by over 55 million DOT tokens. Optimistic Project Funding Polkadot aims to attract top developers by… Continue reading Polkadot community greenlights continuous funding for ecosystem innovators
U.S. Credit Unions Adopt Tokenization of Real World Assets
Source: Cryptonews Traditional banks may still dominate the financial industry in terms of assets held, but credit unions are becoming an increasingly popular option for Americans who qualify. Recent data shows that there are roughly 4,600 credit unions in the United States. A September 2023 report from The National Credit Union Administration (NCUA) further notes… Continue reading U.S. Credit Unions Adopt Tokenization of Real World Assets
U.S. House Approves Crypto FIT21 Bill With Wave of Democratic Support
Source: CoinDesk The House’s passage of the digital assets legislation passes the crypto baton to the Senate, where odds remain low for decisive action. The U.S. House vote goes 279-136 to approve the Financial Innovation and Technology for the 21st Century Act with a very strong showing from House Democrats. The passage of the crypto… Continue reading U.S. House Approves Crypto FIT21 Bill With Wave of Democratic Support
RWA Layer 2 Plume Network raises $10 million seed round led by Haun Ventures
Source: The Block Quick Take Plume Network has raised $10 million in seed funding from Haun Ventures, Galaxy Ventures and others. The RWA-focused Layer 2 network aims to tokenize assets beyond just securities. Plume Network, a modular Layer 2 network focused on bringing real-world assets (RWAs) on-chain, has raised $10 million in a seed funding… Continue reading RWA Layer 2 Plume Network raises $10 million seed round led by Haun Ventures
SEC approves rule change to allow creation of ether ETFs
Source: CNBC Key points The decision comes less than six months after the SEC approved bitcoin ETFs. Those funds have proven to be a big success for the industry, with net inflows already surpassing $12 billion, according to FactSet. Ether ETFs are expected to be smaller, at least initially, than their bitcoin counterparts. The SEC… Continue reading SEC approves rule change to allow creation of ether ETFs
