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Economic Dept. of Dubai Unveils Blockchain-Based Business Registry

The Dubai Department of Economic Development has announced a blockchain-based business registry platform. The Department of Economic Development in Dubai has announced its move to a blockchain-based unified business registry platform (UBRP). On Oct. 7, the Saudi Gazette reported that the Dubai Department of Economic Development (DDED) will be moving to a UBRP to regulate businesses. The blockchain solution aims to improve the ease of doing business in Dubai and enable license issuers to manage trade licenses and corporate registries. The Silicon Oasis Authority, the Dubai Electricity and Water Authority, and Dubai Multi Commodities Centre have already joined the platform. The UBRP eventually aims to host a total of 40 government entities. The solution is hosted on the blockchain-as-a-service platform called Dubai Pulse, which is a joint initiative of Smart Dubai — Duba’s smart city initiative — and telecommunications firm du. Dubai Pulse is also part of the broader Emirates Blockchai..

Fintech Startup Rapyd Raises $100M for Cloud-Based Payment Platform

Fintech-as-a-service startup Rapyd has raised $100 million in a funding round led by venture and growth equity investments firm Oak HC/FT. Fintech-as-a-service startup Rapyd has raised $100 million in a funding round led by venture and growth equity investments firm Oak HC/FT. Per an Oct. 1 press release, Rapyd secured $100 million from investors such as Oak HC/FT, investment companies Tiger Global, Coatue, venture capital firms General Catalyst, Target Global, and Entrée Capital, and online payments processor Stripe. Building cloud-based tech payment platformRapyd plans to allocate the raised money to the development of a unified cloud-based technology platform designed to enable enterprises to integrate fintech and payment capabilities into commerce applications. The company will also use part of the funds to further build its Rapyd Global Payment Network that gives businesses access to more than four billion customers and payment methods, including bank transfers, e-wallets and oth..

Bittrex Announces New Trading Platform Based in Liechtenstein

Cryptocurrency trading platform Bittrex has announced Bittrex Global, a new platform headquartered in Liechtenstein. Cryptocurrency trading platform Bittrex has announced Bittrex Global, a new platform headquartered in Liechtenstein. Per a press release shared with Cointelegraph on Sept. 30, Bittrex is expecting to roll out Bittrex Global at the end of October in the city of Vaduz, Liechtenstein. A fundamental reason for Bittrex’s choice to set up a new trading platform in Liechtenstein is the country’s regulatory clarity toward digital currencies and blockchain technology. New products in accordance with European Union lawBittrex Global is planning to develop new features and products, including customer reward programs, credit card interoperability, private token sales under EU law and a mobile app for trading cryptocurrencies. Following its launch, Bittrex Global also intends to register under the Transaction Systems Based on the Trustworthy Technologies Act, also known as the Bloc..

Blockchain-Based Protocol Tachyon Network Releases White Paper

Decentralized internet protocol Tachyon Network releases its white paper, which reveals details on how the protocol is set to reconstruct the current TCP/IP model. Tachyon network, a decentralized internet protocol has officially launched its white paper which discloses details on the project background and Tachyon ecosystem. Reconstruct the TCP/IP modelIn a press release shared with Cointelegraph on Sept. 27, Tachyon network announced the release of its white paper revealing details on how the protocol is set to reconstruct the TCP/IP model. The TCP/IP model, after 36 years of use as the foundation of the internet, is slowly falling behind the increasing demand for stability, security, speed and trust, the white paper reads, adding: “Built upon the technology of X-VPN, a renowned VPN provider already serving over 50 million people worldwide, Tachyon Protocol is set to combine all the proven, tested and accepted P2P technologies in the niche — DHT, blockchain, UDP and encryption — to ..

Animoca Brands to Develop Blockchain-Based MotoGP Manager Game

Animoca Brands Corporation Limited has partnered with sports management company Dorna Sports, S.L. to develop a blockchain-based MotoGP manager game. Blockchain and artificial intelligence firm Animoca Brands Corporation Limited has entered into a partnership with sports management company Dorna Sports, S.L. to develop a blockchain-based MotoGP manager game. Per a press release shared with Cointelegraph on Sept. 26, Animoca Brands completed a strategic capital raise of A$1 million ($677,600) from a group of investors, including Moses Tang, the founder of AP Capital and founding chairman of Goldman Sachs Asia Pacific. The company is planning to allocate part of the funds to advancing the manager game. Make it to the 2020 MotoGP racing seasonThe release says that Animoca Brands determined the target date of the 2020 MotoGP racing season to launch the game, and further details: “Animoca Brands will produce a “manager” style game based on MotoGP intellectual property that will consist of ..

Oxfam Readies Phase Two of Dai-Based Vanuatu Disaster Relief Program

Oxfam is readying to launch its second trial phase using the DAI stablecoin to distribute financial aid. Following the first phase of the Unblocked Cash program in Vanuatu, Oxfam is readying to launch the pilot program’s second phase using the Dai stablecoin to distribute disaster relief. Speaking exclusively to Cointelegraph, Oxfam Pacific Cash and Livelihoods lead and co-founder of partner company Sempo Nick Williams discussed the challenges and successes of the program’s first phase as well as the changes planned for the second pilot phase. Oxfam executes first phase of trialThroughout April and May of this year, Oxfam conducted the first phase of its Unblocked Cash program across two communities in Vanuatu. According to WorldRiskReport, Vanuatu is the world’s most at-risk nation to natural disasters, including cyclones, tsunamis and volcanic eruptions. Related: Oxfam Trials Aid Distribution With Dai, Future Use 'Highly Likely' The Unblocked Cash utilized MakerDAO’s Dai s..

Users of Nigeria-Based Crypto Wallet Lose $1M in Alleged Exit Scam

Nigeria-based Satowallet has allegedly performed a $1 million exit scam as users have been unable to access their crypto since April. Nigerian crypto wallet Satowallet has allegedly pulled off a $1 million exit scam, while the firm cites an unexplained OVH data server error that has kept user funds in limbo. Multiple versions to delay withdrawalsAfter users first reported withdrawal issues in April 2019, Satowallet has been citing different versions of events to account for their failure to withdraw over $1 million in crypto, according to a report by the Financial Times (FT) on Sept. 25. Following the first complaints, Satowallet reportedly cited technical reasons as the source of a temporary problem, which came amid the firm’s plans to launch a new crypto exchange dubbed SatowalletEX. While users were unable to access their crypto, Satowallet reportedly claimed that a group of scammers on Telegram took advantage of the maintenance period and stole user funds. Wallet goes offline in A..

Overstock’s VC Arm Puts $2M Into Blockchain-Based ID Systems Startup

Overstock’s Medici Ventures invests $2 million into Salt Lake City-based Evernym, a startup developing blockchain-based self-sovereign identity networks. Overstock’s venture capital arm Medici Ventures has made a $2 million investment into Salt Lake City-based Evernym, a startup that develops blockchain-based self-sovereign identity networks. Per a Sept. 26 press release, Medici invested $2 million into Evernym through participation in the company’s Simple Agreement for Future Equity (SAFE), closed on September 4, 2019. This allows Medici to convert its share in the SAFE to preferred stock in Evernym’s future priced round of equity financing. Development of digital credentialsEvernym is planning to allocate the money for further development of its products such as creation of a decentralized ecosystem of digital credentials and blockchain-based self-sovereign identity networks. Commenting on the matter, president of Medici Ventures and recently appointed CEO, Jonathan Jo..

Walmart Files Patent for Blockchain-Based Drone Communication System

Walmart has filed a patent for a drone communications system, in which drones could share and encrypto info using blockchain technology. American retail giant Walmart has submitted a patent application for a drone communication system that is based on blockchain technology. Walmart filed its patent with the United States Patent and Trademark Office (USPTO) on Aug. 1. The filing describes a system on a drone that encrypts and stores that drone’s operational parameters. That information is subsequently passed to another drone, which decrypts, reads and then configures to those parameters. In essence, the vehicle-to-vehicle communication system between unmanned drones would relay messages, mesh communications networks and allow machines to be aware of each others’ location and bearing. Walmart’s venture into blockchain patentsWalmart has been engaged in patenting blockchain solutions for drones since at least 2017. As previously reported by Cointelegraph, Walmart filed a patent applica..

Korea’s Oldest Bank Is Building a Blockchain-Based Security System

A blockchain and a fintech startup partnered with South Korea’s oldest bank, Shinhan Bank, to develop a blockchain-based security solution. South Korea’s oldest bank, Shinhan Bank, partnered with two other companies to develop a blockchain-based security solution. Korea’s Shinhan bank to enhance security with blockchainAccording to a report published on Aug. 14 by local news outlet TheKoreaTimes, Shinhan Bank signed a memorandum of understanding with financial technology startup Ground X and blockchain developer Hexlant to develop a blockchain security system. Per the report, the deal will see the institution’s partners jointly develop a Private Key Management System for its banking services. Ground X is the blockchain unit of South Korean messaging giant Kakao, and is reportedly expected to provide a blockchain-based platform. Hexlant develops the infrastructure to feature an anti-cracking program for the platform. User-friendly UX will help blockchain adoption says ShinhanThe firs..
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