Dubai Customs launches blockchain platform to bolster smart city ambition

From smart city to blockchain pioneer: Dubai's latest trade initiative

Dubai Customs has launched its own blockchain platform to improve clearance procedures by providing a more comfortable and easy way for shipping operations across Dubai and its borders.

This program, unveiled on July 8, 2024, is a key pillar in Dubai's intention to become one of the leading 'smart' cities, as reported by the Dubai Media Office.

Ahmed bin Sulayem, chairman of the Ports, Customs, and Free Zone Corporation, said: "This innovation reflects our vision to make...

MegaLabs secures $20 million seed funding for ‘real-time’ Ethereum scaling protocol

MegaLabs secures $20 million seed funding for "real-time" Ethereum scaling protocol

MegaLabs, the primary development team behind a novel Ethereum scaling protocol designed for unprecedented speed, has raised $20 million in seed funding.

CoinDesk reported that the recent round, led by Dragonfly Capital, attracted diverse investors, including Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holding, and Tangent. The investment also garnered support from notable figures such as Ethereum co-founder Vitalik Buterin, Consensys CEO Joseph Lubin, EigenLayer...

Venice Court awards Quantum Blockchain €6.1M in landmark case

Quantum Blockchain Technologies has announced a significant legal development concerning its subsidiary, Clear Leisure 2017 (CL17).

On 10 June 2024, the Court of Appeal of Venice adjudicated judicial appeals made by CL17 in a lawsuit against former directors and statutory auditors of Sipiem in Liquidazione (Sipiem).

The court confirmed the majority of damages awarded to CL17, as announced on 1 November 2022. One of the ex-directors' liability was slightly reduced by...

£11.4m blockchain initiative set for 2024 launch in South Korea

South Korea launches comprehensive blockchain support initiative

The South Korean government has invested 20 billion Won (£11.4 million) in developing local blockchain expertise to reinforce its position in the blockchain industry.

Led by the ministry of science and ICT and the Korea Internet & Security Agency (KISA), the project is focused on refining and expanding blockchain services for both public and private uses.

The public sector is seeing significant advancements with the government's focus on six blockchain-enhanced...

Italian banks explore dual models of wholesale CBDC

Italian banks explore dual models of wholesale CBDC

The Italian Banking Association's trial of a wholesale Central Bank digital currency (wCBDC) has been declared a success.

The initiative, known as Project Leonidas, was part of the Bank of Italy's sandbox program. The primary benefits identified were atomic transactions, enhanced transparency, and improved information traceability.

These tests were expected to take place by 2023, according to the Eurosystem announcement for the wholesale DLT trials with central bank...

Blockchain firm Ripple expands APAC presence with Japan and Korea fund

Blockchain firm Ripple expands APAC presence with Japan and Korea fund

Blockchain firm Ripple has launched a dedicated Japan and Korea fund, aimed at driving innovation and fostering growth on the XRP Ledger as it continues to expand its presence in the Asia-Pacific region.

The XRP Ledger is an open-source, public blockchain designed for corporate use, powering the XRP cryptocurrency. Ripple leverages blockchain technology and XRP to facilitate real-time, cross-border payments.

An official statement from Ripple claims that the funds will be...

Fidelity International tokenises money market fund on JPMorgan’s blockchain

Fidelity International tokenises money market fund on JPMorgan's blockchain

Fidelity International, a London-based fund management firm, has tokenised shares in a money market fund for the first time through JPMorgan's Ethereum-based private blockchain network, Onyx Digital Assets.

As reported by CoinDesk, tokenisation was completed in near real-time through the integration of the fund's transfer agent (JPMorgan's transfer agency business) with the Tokenised Collateral Network (TCN), an application that links collateral receivers and providers using...

EU commission encouraged to lead blockchain and AI integration

EU commission encouraged to lead blockchain and AI integration

The EU has been urged to take the lead in finding harmony between blockchain and AI.

This advice was given to national regulators by the European Blockchain Observatory and Forum (EUBOF), an EU-commissioned body that monitors and examines blockchain developments across Europe. In its final report published on May 24, the EUBOF team highlighted the potential for blockchain to integrate with other technologies to drive innovation.

The report's release follows the EU's...

Brickken joins the first-ever PwC scale tokenisation & digital assets program 

Brickken ($BKN), a specialist in the real-world asset industry, has been selected to participate in PwC’s Scale | Digital Assets program, a collaborative initiative with GrowthBuilders.

This follows a recent expansion towards Coinbase’s L2 Network and its first institutional client in the form of a venture capital fund based in Germany, further cementing Brickken’s aim at accelerating institutional adoption. 

The PwC Scale program is tailored to expedite the...

Tokenovate collaborates with Land Carbon to design tokenised high integrity carbon credits

Tokenovate, a trading lifecycle management platform company, has collaborated with Land Carbon, a UK developer representing multiple peatland carbon management project owners.

This project exemplifies Tokenovate's strategic focus on the carbon credit space with respect to streamlining and optimising the end-to-end carbon credit transaction lifecycle, including asset creation, tokenisation, custody and trading. Specifically, the collaboration will seek to enhance the value of...