Hong Kong University Receives $20 Mln Research Grant for Payment Systems, Blockchain 3852

The Hong Kong University of Science and Technology Business School has received a $20 million research grant to improve the security capabilities of electronic payment systems, China News reported August 12.

The Hong Kong University of Science and Technology (HKUST) Business School has reportedly partnered with the University of Hong Kong (HKU), the Chinese University of Hong Kong (CUHK), and the City University of Hong Kong (CityU) to work on the research project.

Apart from the enhancement of the electronic payment security system, the parties will also explore blockchain technology applications, and discuss the possibility of Hong Kong’s transformation into a global financial technology hub.

The interdisciplinary research will reportedly be coordinated by professor Tan Jiayin, who is known for his work on the “Strengthening Hong Kong’s Strategic Position as a Regional and International Business Center” with a focus on blockchain, network security, and artificial intelligence (AI). He welcomed the participation of banks as the research will also explore digital currencies and financial product design and distribution services.

In 2017, in order to “significantly reduce the input of human resources and time that trade finance normally requires, and reduce chances of fraud,” the Hong Kong government announced plans to establish a blockchain-powered trade financing system. The system was expected to benefit the country in its participation in China’s Belt and Road Initiative, which aims to promote trade links between China and its global partners.

In June of this year, Alibaba subsidiary Ant Financial, formerly known as AliPay, trialled its first blockchain remittances, sending a transaction between AliPayHK app in Hong Kong and Filipino payment app GCash in three seconds.

Last month, the Hong Kong Monetary Authority and a Ping An Group fintech subsidiary announced the launch of their own blockchain trade finance solution with 21 banks. The solution aims to reduce the amount of time and bureaucracy involved in signing up new fledgling businesses for banking services by smoothing over transactions.

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As Digital Currencies Gain Popularity, FPA and RIA Digital Assets Council Announce Education-Focused Partnership 10999

According to the RIA Digital Assets Council, 80% of financial advisers receive questions from clients about bitcoin, but only 8% can adequately explain digital assets. As cryptocurrency becomes more mainstream, now is the time for financial planners to build competency in this asset class. To support financial planners, the Financial Planning Association® (FPA®) and RIA Digital Assets Council (RIADAC), a digital assets educational source for financial planners, announced a strategic partnership to provide education on the application of blockchain and digital assets.

“I’m pleased FPA has this opportunity to work with RIADAC to build our members’ competency in digital assets, which will allow them to augment their knowledge and better serve clients,” says Patrick D. Mahoney, FPA chief executive officer. “As the leading membership association for CERTIFIED FINANCIAL PLANNER™ professionals, we need to be on the cutting edge of supporting our members as they look to sharpen their knowledge and build their competencies. This partnership with RIADAC is consistent with that objective.”

FPA and RIADAC will provide educational programming and a wide range of content to help FPA members understand the complexities of cryptocurriencies and provide expert advice on how this transformational asset class can impact their clients’ financial plans. As an FPA partner, RIADAC’s educational content and thought leadership will be available to FPA members through a variety of channels:

  • RIA Digital Assets Council Certificate in Blockchain and Digital Assets: FPA members will receive a 50% discount when enrolling in RIADAC’s certificate program that provides financial planners practical literacy on blockchain and digital assets and introduces available options for a firm’s investment management strategy. The inaugural class debuts on Apr. 30, 2021.
  • FPA Blockchain & Digital Assets Community: FPA members will engage with dynamic guests and thought leaders from RIADAC in virtual, interactive discussions and exchange ideas with peers in the FPA Connect Blockchain & Digital Assets community.
  • Journal of Financial Planning: RIADAC will regularly contribute thought leadership content to help financial planners understand blockchain and digital assets in FPA’s flagship publication, the Journal of Financial Planning.
  • FPA Annual ConferenceRic Edelman, founder of RIADAC, will present an informative session on blockchain and digital assets at the FPA Annual Conference in Columbus, OhioSept. 22-24, 2021.

“Gaining vital knowledge about this new asset class will help financial planners attract more clients and serve them better,” said RIADAC Founder Ric Edelman. “We’re honored to be partnering with FPA to help financial planners who are committed to serving their clients’ best interests.”

Ric Edelman is known and recognized throughout financial services and his work to bring blockchain and digital assets education and awareness to the financial advisory community is commendable. I am pleased FPA members will have this opportunity to learn from Ric and his team at RIADAC,” says 2021 FPA President Skip Schweiss, CFP®, AIF®.

Over the coming months, FPA and RIADAC will explore additional educational initiatives and thought leadership programs that can benefit FPA members, their clients and the broader financial planning community.

The9 Signed Filecoin Mining Machine Purchase and Hosting Agreement to Enhance Filecoin Mining 10323

The9 Limited, an established Internet company, today announced that it signed a Filecoin mining machine purchase and hosting agreement amounting to approximately US$2 million with a Filecoin mining service provider. In February 2021, The9 signed a US$10 million framework agreement with a Filecoin mining machine vendor to purchase Filecoin mining machines. This new purchase agreement The9 just signed is with another Filecoin mining machine vendor. This new purchase will increase the effective storage mining power of The9 in the Filecoin network, especially in the current early stage of Filecoin’s rapid development trend.

At present, The9 owns an independent node on Filecoin blockchain and 8 Pebibytes of effective storage mining power in the Filecoin network. When the two agreements are fully implemented, The9 is expected to have a total of more than 80 Pebibytes of effective storage mining power in the Filecoin network.

Filecoin is an open source, distributed storage and digital payment system. Users can use the preset economic incentive mechanism to store data to ensure that files are stored and accessed reliably for a long time. Users use the Filecoin (FIL) in the system to rent hard drive space; and storage miners are responsible for providing storage space to store files and proving these files have been stored correctly.

Based on Filecoin’s technology and the expected continuous expansion of future application scenarios, as well as the recent positive price trend of Filecoin, The9 decided to increase the investment in Filecoin and the effective storage mining power in the Filecoin network, to fulfill its growth strategy in the cryptocurrency mining business.

NexChange Group and Marita Group Co-Host Africa Blockchain Week Virtual Summit to Showcase Continent’s Technological Leapfrog 12031

NexChange Group, a blockchain ecosystem and venture builder and MARITA Group, an African conglomerate will combine forces to co-host this Virtual Summit. The event will feature key industry players and decision-makers contributing to regulation, application, investment and education across many African countries.

Juwan Lee, Chairman of NexChange Group: “Africa is the next big move for blockchain. We see not just opportunities in the payment space and financial inclusion, but we see significant institutional involvement.”

The new reality has proven technology to be a bridge to a better future. Strong ties between African countries, like the cooperation South-South, encouraged by HRH Mohammed VI go beyond just politics. New economic bridges ensure that Africa is able to bypass certain steps on a technological stair, positioning itself ahead of the global curve. Described by the World Bank and called leapfrogging, it relies strongly on enhanced technologies including blockchain.

Rahhal Boulgoute, Chairman of Marita Group: “Blockchain will revolutionize Africa and provide opportunities for financial inclusion. It is important that we expose blockchain technology in Africa.”

The impact is seen on Africa’s financial map. Over the last years, digital banking and mobile payments have proven to be a real-life case study for millions of users, making people’s financial lives better, ensuring inclusion, and changing the game for the unbanked. Banks, enterprises, and entrepreneurs are changing the continent’s destiny, shaping the investment landscape.

This event backs the efforts of the African regulators to adopt the required regulations to embrace blockchain and become a main global player in the technologies shaping the future. The ambition of the Co-hosts is to make Africa Blockchain Week the key platform for dialogue and networking between all stakeholders in blockchain to transform it into a reality in Africa.

NexChange Group is a venture builder and media platform specializing in Blockchain, FinTech, HealthTech, AI, and Smart Cities.

Marita Group Holding is a global company focused on:

  • turnkey solutions in real estate development, theme parks, smart cities
  • Renewable energy and waste recovery, hydrogen production, electric mobility
  • sustainable agriculture and sustainable development
  • local mining development of natural resources
  • health, medical products, equipment and supplies

ZIM & Marius Nacht complete additional investment in WAVE BL, a leading provider of a paperless Bill of Lading solution 11725

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) and Marius Nacht, one of Israel’s leading serial entrepreneurs and investors, announced today that they have jointly invested in a Series B Financing round of WAVE BL, a developer of groundbreaking blockchain network supporting paperless trade in the shipping industry. The two investors co-lead a round of approximately $8 million that will accelerate global implementation of WAVE BL’s proven technology.

ZIM pioneered the first paperless electronic bill of lading pilot in the shipping industry in 2017 using WAVE BL’s platform and has since widely expanded its use to become the industry leader. Electronic bill of lading is currently offered to ZIM customers worldwide, requiring only a simple onboarding process which is supported by ZIM.

Digitization of bills of lading is revolutionizing shipping documentation, sharply reducing time, complexity, errors and costs for all parties involved, while maintaining a high level of security and, importantly, being far more sustainable than the traditional paper bill of lading.

Aligning with international rules, standards and insurance coverage such as IG P&I Clubs and eUCP 600, WAVE BL’s one of a kind decentralized, digital documentation solution is changing the shipping industry as it becomes the new industry benchmark enabling secure and efficient remote business continuity.

Proceeds will be used to support development of WAVE BL’s business and further implementation of its pioneering technology supporting paperless trade in the shipping industry, as well as in other sectors.

ZIM President and CEO Eli Glickman: “Our early adoption of WAVE BL’s blockchain based platform to promote paperless trade highlights our leadership in utilizing digital strategies to best serve customers and has proven extremely successful for ZIM and for changing the industry. Today, ZIM is an industry leader in paperless shipping processes, and we are seeing growing interest from others in our sector to adopt the platform reflecting the significant benefits it provides to both customers and carriers. This new investment in WAVE BL is a step forward in the path to a more digitized and sustainable future, in accordance with our vision and values.”

ZIM CIO Eyal Ben-Amram: “Since completing the integration of WAVE BL’s platform with our system, we can offer every customer the ability to enjoy the vast benefits of paperless shipping, which is especially crucial during COVID-19. We are pleased and proud to continue our support of this exciting and leading company.”

WAVE BL CEO Gadi Ruschin“Our partnership with ZIM has enabled us to introduce our pioneering technology to a vast audience as we endeavor to become the shipping industry standard in paperless trade. We are extremely pleased with the continued faith and commitment of ZIM and Marius Nacht in our company and look forward to leading the wave of the future in shipping.”

Ophir Shoham, who leads Marius Nacht’s investments in high-tech: “We are proud to continue supporting WAVE BL’s remarkable technology and believe in its disruptive potential, leading to a fundamental change in the way business is conducted across countless sectors and industries. We are very impressed with the great progress the team has made and excited to invest in WAVE BL’s trail-blazing platform.”

River Financial raises $12M Series A to continue explosive growth of its Bitcoin financial services for traditional investors 11559

San Francisco-based Bitcoin financial services provider River Financial closed a $12 million Series A equity financing round to continue growing its financial service offerings for traditional investors. The investment round was led by Goldcrest Capital with participation from Craft Ventures, Polychain Capital, M13, Castle Island, Slow Ventures, and The Kraft Group.

River Financial previously announced a $5.7 million seed round in June 2020. In the nine months since the company’s seed round announcement, River’s client base has grown by almost 600%, and order volumes have increased by 3,500%. River’s recent iOS app has accelerated the company’s growth, already accounting for over 30% of all River’s order volume within five weeks of launch. River Financial continues to experience exponential growth in new customers and order volume month-over-month as global interest in Bitcoin continues to grow rapidly. Social unrest, inflation fears, and recent elections are driving droves of traditional investors to Bitcoin and River.

River is investing heavily in team growth and product development. According to Co-Founder and CEO Alex Leishman, “Bitcoin is on a trajectory to becoming a global reserve asset, and we are building the financial services that our clients will need for that future.” River’s focus on premium client services and traditional financial tooling, including tax lot tracking and account statements, is attracting increasing numbers of high-end clients who find incumbent solutions intimidating and confusing.

The majority of volume on River is driven by clients over the age of 50, but Co-Founder and COO Andrew Benson believes there is still a large underserved segment of the population, “River’s mission is to bring Bitcoin to investors around the world. Even as global interest in Bitcoin grows rapidly, most Americans over the age of 45 who want Bitcoin still don’t own any. River is helping to fix that by creating familiar, high-end financial solutions for investors who are new to Bitcoin.”

Ideanomics Invests in Italian Electric Motorcycle Company, Energica Motor Company 11857

Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce it has acquired 20% of Italian Energica Motor Company S.p.A. (Energica) for the consideration of $13.2 million. It develops high performance 100% battery-powered motorbikes. With this investment in Energica, Ideanomics expands its global footprint in the electric vehicle (EV) industry, and complements Treeletrik’s business in the ASEAN market. This investment marks continued investment in European-based OEM.

“Energica has combined zero emissions EV technology with high-performance engineering synonymous with Italy’s Motor Valley to create a range of exceptional products for the motorcycle market. It also has proprietary EV battery and DC fast-charging systems that have applications and synergies with Ideanomics Mobility. We are very impressed with Livia and her team, and we look forward to supporting them through their next phases of growth,” said Alf Poor, CEO of Ideanomics.

The rapid increase of EV sales that began in 2019 has continued to gain momentum over the past year. The global high performance electric motorcycle market is growing at a CAGR of over 35% from 2019-2024. With its state-of-the-art battery technology development, Energica was chosen by Dorna as a single manufacturer for the FIM Enel MotoE™ World Cup. With this partnership, Energica has been able to test new battery solutions and innovations in extreme conditions with the best riders in the world to advance its high-performance battery technology.

“We are proud to be part of this unified global platform”, says Livia Cevolini, CEO of Energica Motor Company S.p.A. “Ideanomics’ network of innovative companies will help accelerate the growth and adoption of new EV technologies such Energica.. We look forward to leveraging Ideanomics to capture market share in the rapidly growing global electric motorcycle market”.