The city of Dubai is globally renowned for its residents’ luxurious lifestyle. The ultramodern architecture, mega shopping malls, and lively nightlife are just a few of the things that make it stand out. Even the cops in Dubai live in luxury, with their fleet of squad cars consisting of Bentleys, McLarens, and Lamborghinis. However, the city is also taking a huge step forward as a technology hub, with initiatives such as Smart Dubai thrusting the city ahead of its peers. And now, Dubai is exploring blockchain technology in its vibrant trade finance industry. The city is working with Global Blockchain (GB), an investment company that delivers its clients access to assets in the blockchain space. As the company’s CFO revealed to NullTX, this ambitious project aims to fully revolutionize the way business is done in Dubai.
Enterprise Blockchain Is Like the Internet in the 90s
Dubai has become a financial hub for the Middle East, with most of the trade happening in the region going through the city. Its ports are the ninth-busiest in the world, with the Jebel Ali port being the largest in the region. With a high volume of goods passing through the city, the trade finance industry is thriving. Despite the city’s advancements in tech, the trade finance process has remained tedious and costly, noted Theo van der Linde, GB’s CFO. Speaking exclusively to NullTX, van der Linde cited the many benefits that the blockchain solution will bring about for the city.
WITH THE SECURITY OF BLOCKCHAIN TECHNOLOGY, PARTS OF THE ADMINISTRATIVE PROCESS SUCH AS INVOICES AND IMPORT PERMITS CAN BE DONE ON-CHAIN, SIGNIFICANTLY REDUCING THE AMOUNT OF STEPS AND TIME TAKEN TO COMPLETE A COMMODITY ORDER AND SHIPMENT. FURTHER, WITH FULL TRACEABILITY OF FUNDS, LENDERS CAN THEN BE ASSURED THAT THEIR CAPITAL IS BEING USED FOR ITS INTENDED PURPOSE. WITH TRIMMED-DOWN ADMINISTRATIVE PROCESSES, AND A LOWER RISK OF MISUSED FUNDS, FINANCING OF COMMODITY TRADES BECOMES FASTER, EASIER, SAFER, AND LESS EXPENSIVE – ALL DUE TO THE WAY WE’RE GOING TO IMPLEMENT BLOCKCHAIN TECHNOLOGY IN COMMODITY TRADE FINANCING IN DUBAI.
The Vancouver, Canada-based company which trades on the Canadian Stock Exchange will develop the blockchain-based solution for the Dubai Multi Commodities Center (DMCC) through its newly-formed subsidiary, Blockchain Technologies DMCC (BTD). GB has invested in a variety of projects both in the blockchain industry and beyond, including Kodak’s blockchain platform KodakONE, electronics manufacturer Spectra7 Microsystems, and permissioned blockchain platform Galaxycoin.
The UAE government has been very supportive of the blockchain industry, van der Linde stated. Of cryptos, not so much. Initially, cryptos were termed haram (forbidden) by the Islamic community, and while perceptions have gradually improved, the UAE hasn’t quite warmed up to this new asset class.
Enterprise blockchain will take over the business world similar to the internet, van der Linde believes. This is despite reports showing that despite the buzz it’s created, enterprise blockchain hasn’t taken root. This is natural, he believes, as blockchain is currently just a buzzword many companies are playing around with as they try to figure out how best to implement it.
FOR A LOT OF COMPANIES, “BLOCKCHAIN” IS A BUZZWORD THAT GETS PEOPLE EXCITED, KIND OF LIKE THE WORD “INTERNET” BACK IN THE 1990S. UNDENIABLY, THERE IS A DISPROPORTIONATE AMOUNT OF HYPE RIGHT NOW. BUT BETWEEN NEW CRYPTOCURRENCY COINS AND TOKENS, AS WELL AS UNIQUE ACTUAL BUSINESS APPLICATIONS OF BLOCKCHAIN TECHNOLOGY IN AREAS TO INCLUDE VOTING AND THE SUPPLY CHAIN, THIS IS A SOMEWHAT ROUTINE CASE OF A NEW TECHNOLOGY BEING NARROWLY USED AT FIRST UNTIL IT HAS TRULY “COOLED OFF”, AND IT STARTS TO GET USED IN THE MAINSTREAM.
GB is developing an interoperability solution for the blockchain, van der Linde revealed. The platform will be known as Laser, and according to him, “what SWIFT does for banks, that is exactly what Laser will do for blockchains.”
As for where blockchain technology will have the most impact, van der Linde stated:
RIGHT NOW, IT’S LOOKING LIKE BANKING AND GOVERNMENT ARE GOING TO BE THE MOST IMPACTED BY BLOCKCHAIN TECHNOLOGY. THESE ARE TWO INDUSTRIES IN WHICH THE NUMBER ONE PRODUCT IS TRUST; THE VERY KIND OF TRUST THAT BLOCKCHAIN ENABLES, BUT WITHOUT ANY THIRD PARTY.
TRON (TRX) Long-Term Price Forecast- February 17
TRX/USD Long-term Trend: Ranging
Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600
Tron long-term outlook remains in a range-bond market. The bears return predicted in last week analysis remained strong within the range. The two EMAs were broken as the bears continue the downward journey.
TRXUSD dropped initially to $0.02448 and later to $0.02360 in the demand area. This was the low of the week on 14th February.
With price below the two EMAs crossover and the stochastic oscillator signal in the oversold region pointing up at 8%. It suggests a minor push to the upside before downtrend continuation within the range.
TRXUSD is in consolidation and trading between $0.02881 in the upper supply area and at $0.02142 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
New Ripple Insights Post Shows New Generation Of Blockchain Workers Getting Support From Fundação Getúlio Vargas In Brazil
New Generation Of Blockchain Workers Receives Necessary Support And Education From Fundação Getúlio Vargas In Brazil
Blockchain technology is growing every day, and the only way to keep up the pace is to have new developers learn the technology and seek out ways to improve it. However, before that innovation can happen, the industry needs more people that understand blockchain technology, which is what Sao Paulo’s Fundação Getúlio Vargas (FGV) is working towards.
FGV is one of the leading universities in Brazil, and they offer the University Blockchain Research Initiative, which was recently developed by Ripple. Professor Riccardo Rochman of the university spoke with Ripple on a recent issue of their Insights blog to discuss the way that their Crypto Master’s Program is readying blockchain entrepreneurs and leaders for the future.
The topics of blockchain and cryptocurrency are necessary research topics in Brazil, considering the role they play in the evolving economy. In Rochman’s opinion, blockchainhas the potential to overthrow the current protocols that exist in business and economics, ultimately empowering the people of Brazil.
Presently, the Brazilian Development Bank (BNDES) uses blockchain and a proprietary cryptocurrency as a way to fund local businesses. Considering this use case, Rochman pointed out that the new paths being made for blockchain technology will make the environmentally friendlier and needier of the new workers and entrepreneurs with a fresh take of the fintech.
A major part of this future vision is UBRI, which Rochman says is helpful in bringing in more students to the program. In fact, he has noted that there has been an increase in the number of research proposals on blockchain, along with new dissertations.
With the funding, FGV has been able to work with private firms as well. They have also been responsible for the networking that has been set up with other UBRI-funded universities. The cooperation of these networking relationships is now is what will pivot the blockchain community forward. Last year, Rochman even was part of the launch of the Master’s Degree in Crypto Finance, which had never been done before now.
When the program originally began, there were about 20 that enrolled in the first course that they made available, while 250 joined the Master’s Program. The numbers have grown exponentially since then, and there have been many new students immediately enlisting in the program. Rochman views the work that the university is doing as a way to change Brazil and eventually the rest of the world.
Glitch Goons Is The Newest And Hottest Blockchain Powered Game In Town
One of the first multi-blockchain technology supporting mobile games of its kind, Glitch Goons is a definite win when it comes to blockchain technology progressing. It features very futuristic elements such as a “vaporwave saturated atmosphere” and insane cyborg slash animal slash human characters engage in glorious battle to survive on a dying world.
The game which was released in late 2018, supports a wide variety of crypto technology. supporting a whole range of cryptocurrencies.
The premise of the game is simple. It is set on Earth in the year 2690 where nuclear war has resulted in most species being wiped off Earth. Now the survivors live underground where life is hard due to a lack of oxygen and water. In order to survive, they must battle other survivors in order to make it to a newer colony on a distant planet called Garthorix.
To make their way to the transport system called the ‘Transposition Channel that transfers human minds to a selected ‘carrier’s’ body on Garthorix.
This 80’s inspired trailer is giving us major Mortal Kombat and Street Fighter feels, very reminiscent of the popular retro gaming vibe.
The official Glitch Goons website also features a brief look into the backstory and history of the entire realm and also has comics.
This fighting game also allows players to upgrade and customize their characters through cyrpto coins and 1 GC equals around 0.005ETH. Although the game play isn’t the best, the story and the applications of blockchain inspired technology makes this game worth playing.
Other than different characters, players can also buy chests that contain 5 items each, ranging from rare and legendary gear which includes armor, boots, weapons, helmets, pants, jewelry and even modification chips.