The India Government to Consider Allowing Crypto Tokens 4859

The government is considering launching crypto tokens for financial transactions in the country, even as the existing ban on cryptocurrencies is likely to continue, sources said. A committee studying the use of crypto assets is working on a set of regulations, and specific actions, including a roadmap for allowing cryptocurrencies in future,  local news outlet DNA India reports August 10.

Once the draft regulations are ready and legally vetted, it will be tabled before Parliament, sources said. Unlike virtual or cryptocurrency, which is treated as an equivalent of money, crypto token is a representation of money. It can’t be used in place of fiat money. Crypto tokens are based on block chain application.

“The committee is examining if crypto tokens can be used to replace smart cards such as metro cards in the public sector to start with. Similarly, in the private sector, it can be used in loyalty programmes such as air miles where its use is limited to buying the next ticket and can’t be converted into money,” said a senior official in the ministry.

The committee set up by the finance ministry under the chairmanship of Department of Economic Affairs (DEA) secretary is studying the possibility of using various crypto assets, including crypto currency.

“The committee is studying the possibility of using cryptocurrencies or the crypto technology (distributed ledger technology) for financial transactions and also what kind of regulations are needed for that,” said DEA secretary Subhash Chandra Garg who is heading the committee. The new technology has a lot of promise, he said.

While “the currency is totally banned, the committee is discussing its other usage and how it can be mainstreamed in India,” he said. Garg categorically denied allowing use of cryptocurrency in any manner including in payment systems.

Reserve Bank of India (RBI) had in April directed all the banks to stop dealing with individuals and businesses dealing in virtual currencies from July 5.

“The banking regulator has come out with regulations. It has debarred the banks from dealing with anybody or any aspect of cryptocurrencies. We don’t believe the cryptocurrencies to be currencies at all. We have issued several advisories for people to not deal with it. Because it is risky, it’s a Ponzi kind of scheme. Therefore, cryptocurrencies are banned in this country,” said Garg.

However, crypto tokens, if introduced, will be a kind of digital token for currency and not a substitute for fiat currency. “One will need to pay physical money to buy a token which could be stored as a code in any basic mobile feature phone. It can even be used for remittances. So, it is easy to implement from technology as well as regulatory point of view. But in case of cryptocurrency, one needs to allow it as a legal tender first,” a senior official in the ministry said.

Experts feel that the Indian government is unlikely to shift its stance on cryptocurrency in the near term, but may allow crypto tokens to test waters. The committee will also give prospects and consequences of allowing crypto currency.

“Crypto token operates in a closed system and doesn’t impact the country’s monetary policy unlike cryptocurrency, which interferes with the money supply situation,” said Digital Lenders’ Association of India (DLAI) president Alok Mittal. “Many governments in the world are considering using crypto token,” he said.

“This is a difficult subject, involving technology which is changing every now and then. That’s why it is taking some time,” Garg said.

The Inter-Ministerial Committee (IMC), comprising of members from RBI, Sebi and IT ministry, was scheduled to give its report in July.

Previous ArticleNext Article

Brock Pierce, Crypto Pioneer, Purchases NFT By Atari Founder Nolan Bushnell — Original Space Game NFT 4685

Brock Pierce, a household name in the digital currency and blockchain space saw the future of NFT’s (Non Fungible Tokens) before the frenzy began. Pierce invested in nft.com and purchased Mick Jagger’s first NFT earlier this year. But what makes the Nolan Bushnell “ARCADE OG SERIES” NFT special, is their relationship dating back to the days when Pierce was himself an avid video game player at the height of Atari’s popularity. So much so, that he gave Bushnell his first Bitcoin back in 2015.

Nolan Bushnell is known as the Godfather of Video. In 1972, he launched Atari, one of the world’s most iconic gaming companies. He is also the man behind the Chucky Cheese Burger empire. It is a known fact in the industry that Bushnell gave Steve Jobs his first job, and according to Jobs’ partner Stephen Wozniak, Bushnell was Jobs’ inspiration to start Apple.

Over a dinner in Puerto Rico last week, where several NFTs were being auctioned, Pierce jumped at the chance to purchase not only a piece of history, but for him, a trip down memory lane. Pierce, born in the 80’s, is a byproduct of the computer industry. Only now, this NFT series offers immersive videos and AR (augmented reality) which was inspired by two of Bushnell’s earlier and most iconic creations “Computers and Space Pong”

Pierce states, “Why I’m so excited about this is because our industry is desperately in need of killer apps, and practical and scalable options for blockchain. I’m all in on NFTs.”

“NFT’s are pushing the evolution of atoms to bits, from physical to digital. People have collected atoms in the form of playing cards, collectibles, and art for many years, and now, as the world becomes increasingly digital, NFTs allow us to collect bits. I am honored to work with MakersPlace to share some of my initial works” – Nolan Bushnell.

About Brock Pierce:

Brock Pierce is an entrepreneur, artist, venture capitalist, and philanthropist with an extensive track record of founding, advising and investing in disruptive businesses. He’s credited with pioneering the market for digital assets and has raised more than $5B for companies he has founded. Pierce is Chairman of the Bitcoin Foundation and the co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin (first ICO). Pierce has lectured and spoken at some of the nation’s most prestigious institutions including the Milken Institute Global Conference, International World Congress, and has been featured by the New York Times, Wall Street Journal, Rolling Stone, Forbes, Fortune and many others. Pierce was on the first-ever Forbes List for the “Richest People in Cryptocurrency” and was an Independent Party candidate for President of the United States in 2020.

About Nolan Bushnell:

As the founder of legendary video game company Atari, Bushnell has been prolific in helping bring arcade gaming to the masses. Now, with the advent of NFT’s, he plans to brng some of those iconic early machines into homes as digital augmented reality collectibles. The Arcade OG Series, a set of Ethereum-based collectibles encompasses NFT tokens that can be used to prove ownership of verifiably scarce digital items, which in this case, includes a video clip displaying a 3D rendering of an Atari “Pong” or Syzygy (Bushnell’s Atari precursor) “Computer Space arcade game cabinet. Owners of this NFT will be able to drop the digital cabinet into place, and then walk around it, viewing it up close from all angles.

BtLux Exchange 2.0 upgrade officially launched by one of the world’s leading exchange system 4695

On July 6, 2021, after working hard day and night, a team of top blockchain technology and research experts in the financial field around the world, officially launched the upgraded version of BtLux Exchange 2.0 to provide users with a better experience and help enterprises quickly get on the “chain”. The 2.0 upgrade version has been comprehensively strengthened and upgraded its brand, products, and risk control, which indicates that BtLux is fully armed to welcome the establishment of the global regulatory system with a solid posture. Safety is longitude, compliance is latitude.

As one of the world’s leading exchange system, BtLux2.0 is based on a powerful distributed architecture design and adopts a high-performance memory matching mode to comprehensively enhance system access performance and stability. In terms of digital asset security, the wallets separate cold and hot storage, multi-layer encryption, offline cold storage, and bank-level guarantees for fund security. At the same time, the top-level security system with face intelligent recognition technology is enabled to deeply integrate KYC, identity authentication, and coin withdrawal services to improve security; top-level risk control and 7*24 hours real-time monitoring, to maximize the safety of user assets.

Anticipate the situation, the new version 2.0 upgrade

The finance is close related to economic development and national security. With the rapid development of the crypto industry in recent years, exchanges have become a mirror of compliance and security. You can smell a trace of the “wind direction” of policies and market conditions according to the attitudes of regulators to the exchanges. For example, the United States, the global financial center, has been managing licenses for crypto assets very early. In 2017, Washington passed Act 5031, which stipulates the licenses that cryptocurrency exchanges need to apply for. Contrary to the United States, China strictly prohibits exchanges that cryptocurrency-related business activities in China are all illegal, by recent announcement.

BtLux, which has gained insight into the regulatory situation for a lone time, has focused its newly launched version 2.0 on the application of blockchain technology and empowered entities in order to comply with the regulatory policies of different countries and regions. The highlight is the F10 function, which reflects the fundamentals of the project. The entity enterprise first realizes digital transformation through the SEA public chain, which is also one of the double-star sub-projects (the other one is BtLux), and then takes use of BtLux F10 function to change the traditional production relationship, allowing its consumers or investors to grasp the “dynamic value” data of the enterprise in real time through the fundamentals of the project, such as development situation, change curve, and distributable benefits per share. Through a digital trading platform that supports real-time perception of changes, real-time analysis of changes, and real-time optimal decision-making, users and investors can enter the traditional financial market with a lower threshold standard.

After the comprehensive upgrade, BtLux Exchange will maximize the value-carrying and value-transmitting functions of the blockchain, and maximize the concept of equality and openness of the blockchain, effectively reducing the operating cost of the physical industrial chain and improving industrial circulation efficiency, realize the value sharing between nodes, break away from the virtual to the real, let technology truly empower the real economy, provide an innovative compliance route for cryptocurrency exchanges, and create the next “miracle” of blockchain-enabled entities.

Safety compliance, accelerating global deployment

Since the establishment of BtLux, it has always adhered to the safety and compliance route. BtLux, has successively obtained the authoritative certification of the three major institutions of Australia AUSTRAC, US FinCEN, and Canadian FINTRAC, could provide digital currency transaction services. The Singapore MAS has also accepted BtLux’s application for MPI license. BtLux knows that the biggest enemy in the cryptocurrency trading battlefield is actually itself, and its own operational strength and safety and compliance are the fundamentals for its survival.

Therefore, BtLux has never stopped exploring, focusing on the global real economy with a strategic vision, adhering to the operating philosophy of security, specialization, innovation and globalization, seizing the international market, and striving to provide global users with professional, safe and reliable and credible physical digital economy token trading services to help the global node economy to rejuvenate and vitalize.

No matter its business philosophy or actual actions, BtLux is constantly improving the security and compliance level of the platform, and actively cooperating with local government regulatory policies. The executives of BtLux said that it is a guarantee to customers and a commitment to itself by looking at the world but not aggressively expanding. BtLux believes that more crypto exchanges like BtLux who gradually explores the “compliance way” will become a model trading platform in the industry, it is bound to break through in this regulatory environment and promote the prosperity of the entire crypto industry.

Centric Software Celebrates 500 PLM Projects 6023

Centric Software, cementing its position as Product Lifecycle Management (PLM) market leader, is celebrating partnerships with 500 customers, over 150 of whom have chosen Centric PLMTM since the pandemic began. This massive, worldwide adoption underscores the market’s confidence in Centric’s innovative digital solutions and unparalleled industry expertise. To bring products to market, consumer goods companies have a fundamental need to enable remote, yet agile teamwork in addition to increasing cost savings, operational efficiency, business agility and supply chain collaboration while also complying with sustainable and regulatory requirements.

Based in Silicon Valley, Centric Software is the pioneer of PLM solutions for planning, designing, developing, sourcing and selling consumer products such as apparel, footwear, sporting goods, furniture, cosmetics & personal care, food & beverage, luxury, consumer electronics, private label goods and more.

Retailers, brands and manufacturers with operations in over 40 countries, ranging from iconic luxury labels to emerging market disruptors, rely on Centric to bring approximately $1.3 trillion worth of goods to market per year via 1 million+ points of sale. Centric PLM empowers companies of all sizes to superspeed time to market and improve supply chain efficiency by up to 50%, enabling more sustainable product development with reduced costs and improved product margins. With a 99% retention rate, Centric PLM users are the happiest worldwide; 40% of companies using Centric today replaced a previously purchased PLM system with Centric’s market-driven innovations.

Centric is redefining the concept of PLM with many industry firsts such as mobile apps, interactive digital boards, Social PLM integrating team communication tools like Slack, Quick Start and fully remote deployment, integrations with dozens of ERP and e-com solutions and a groundbreaking CAD agnostic approach with fluid workflows connecting to dozens of 3D CAD systems. The net effect is true, end-to-end internal and extended team collaboration using one actionable source of truth for all.

A sincere thank you to our long-time customer partners as well as the most recent additions to the Centric family, including our 500th customer, the global golf industry giant, Callaway Golf.

“Centric PLM will drive increased efficiency into our product development process. We create a wide variety of products in diverse categories, and this is going to enable greater efficiencies across our multi-branded apparel, footwear, and accessory categories. These products require distinctly different workflows and Centric provides an exceptional technology solution to handle the vastness and complexity of our global business,” affirms Jeff Cross VP of Global Operations and Development, Apparel & Soft Goods at Callaway Golf.

“We are very proud to celebrate 500 PLM projects and growing,” says Chris Groves, President and CEO of Centric Software. “We sincerely thank each and every customer, from those who chose to work with and inspire us over a decade ago to our more recent partners like Callaway. The trust that our customers place in us drives us to continue to push the boundaries of innovation, industry expertise and best practices.”

Dreams Quest To Launch IDO 6471

dream

DREAMS IDO launches on Red Kite and GameFi, DuckStarter

Singapore, 9th OCT – Dreams Quest, a blockchain-based NFT gaming platform, announces the launch of their anticipated IDO campaign scheduled on Red Kite (Polka Foundry), GameFi, and DuckStarter. The launch gives an opportunity to access the Dreams Quest ecosystem by purchasing $DREAMS tokens. The ecosystem will be gradually unveiled with a variety of mini-games, leading up to the launch set for 2022.

The IDO campaign:

https://duckstarter.io/ – 14th October 2021
https://gamefi.org/ – 15th October 2021
https://redkite.polkafoundry.com/ – 15th October 2021

NFT mania has hit a peak right now and it has come a long way from the early frenzy as several new use cases have emerged over time.  Play to Earn (P2E) is currently one of the most popular forms of NFT projects as it combines the best of gaming with digital collectibles. In fact, in 2017 when NFTs were first created and used, in-game memorials and game prizes were the first use cases of the non-fungible ecosystem, and Dreams Quest is only taking the ecosystem further with its platform.

Dreams Quest Aims to Take P2E Ecosystem to Next Level

Dreams Quest is a play-to-earn RPG card game that incorporates dynamic NFTs. Players are invited to explore the dream realms and go on adventures by participating in quests, events, and tournaments. The NFT game cards are dynamic which are impacted by unknown factors like weather conditions, temperature, and storms. At the conclusion of every game, card attributes are written on-chain, storing the permanent history of card changes over time as well as how cards have evolved or changed.

Players are presented with a free deck to get started and are then given a variety of gaming style options to make the game even more engaging. These include completing quests, competing in battles or tournaments, or setting up a shop in the marketplace to become a local trader. The goal is to create both an in-game economy and a variety of fun and interesting ways to earn while playing. The key features of the platform include,

  • Play to Earn — Dreams Quest integrates several factors such as quest-based earnings, renting NFT cards, a marketplace, and more for players to earn by participating in the game.
  • Free-to-play — To create an inclusive and permissionless gateway for everyone to experience a unique gaming experience at its finest, the DQ metaverse is designed as free-to-play for everyone to easily get started.
  • Dynamic NFTs — The dynamic NFTs (game cards) will be impacted by unknown factors such as weather, temperature, storms, and more that will completely alter card attributes. The changes to card attributes will be permanently recorded and stored on-chain.
  • On-Chain — Dreams Quests uses Chainlink to bring in data off-chain which we can use in-game. For example, every card that gets minted will have a unique random “key” that will enable that card or item to unlock other powers, abilities, vaults, or chests both in-game, but also within our discord channel.

The blockchain NFT platform combines the best of two worlds to bring a unique user experience where they can earn valuable digital collectibles that can later be used for trading or selling for profit. In-game, there are a huge variety of things that players can do from forging, creating new items, participating in events and tournaments, battling other opponents. The tokens can be used in-game to upgrade and forge but also can be earned from the quests and battles they participate in.

“After over a year of hard work we are excited to finally be bringing this project to the market and to finally see our community coming to life. Our goal is to build a democratised economy where everyone can earn from playing while also having an opportunity to explore the realms that we dreamed up long ago.”  Paulii Good Co-Founder

About Dreams Quest:

Dreams Quest is a decentralized play-to-earn RPG game using dynamic NFTs to create unknown factors that will affect character attributes in-game, and post-game outcomes will dynamically change the NFT card attributes and write them on the blockchain (the ethereal scribes) to show game history for each card.

Twitter: https://twitter.com/DreamsQuestNFT
Discord: https://discord.gg/dreamsquest
Main website:  www.dreams.quest

Aves Lair presents Demo Day, showcasing winter 2020 accelerator cohort 28840

Aves Lair, a New York-based startup accelerator and VC with a focus on deep tech, including AI, blockchain, cloud and data, will host a Demo Day event on April 9, 2021 at 11:00 AM ET. The event will highlight the innovative solutions developed by the members of Aves Lair’s Winter 2020 cohort, and will feature the following startups:

Blocksport is a Switzerland-based sports technology company whose white-label digital solutions provide traditional sports and esports teams with new, durable revenue streams and fan engagement channels.

DLCC is a fintech company that offers institutional-grade prime brokerage tools and services for digital assets. The company built a solution that enables traditional asset managers and allocators, like family offices, global macro hedge funds and endowments, to participate in the digital asset space.

SubStrata is an Israel-based B2B sales technology company whose AI-powered social signal processing platform helps professional dealmakers attain better outcomes. SubStrata’s technology analyzes the subtextual information contained in communications to provide dealmakers with a rich array of insight.

iLoto – is a Singapore-based Edtech solution powered by AI that generates automated video transcription and translation in 30+ languages.

Storkcard is a London-based budgeting tool that takes the guesswork out of financial planning for new parents by allowing users to keep track of their spending and budget for the future.

Kotani Pay is a payment solution enabling blockchain protocols, dapps and blockchain fintech companies to reach a wider audience.

OmniEyes is a Taiwan-based computer vision company whose AI-based solution enables effective fleet management, driver safety and smart city management features.

ZIM & Marius Nacht complete additional investment in WAVE BL, a leading provider of a paperless Bill of Lading solution 27097

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.”