Blockchain – WireUp

Metalottery Launches Blockchain Lottery Revolution: Zero Fees, Instant Wins and Life-Changing Jackpots in Crypto

May 19, 2024 Published by EuropeanGaming.eu

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A brand-new online lottery portal built on blockchain technology is shaking things up in the world of chance. Metalottery, the first-ever decentralised blockchain lottery platform, officially launched, introducing a new era of transparent, thrilling and rewarding lottery gaming. By combining cutting-edge blockchain technology with the excitement of lotteries, Metalottery offers players unprecedented fairness, security and the potential to win life-changing prizes.

“Metalottery is not just another lottery; it’s a paradigm shift. We’re giving power back to the players by offering a transparent, secure, and exciting lottery experience that’s built for the web3 age,” Dioni Bouropoulos, COO of Poollotto Finance, said.

Unlike traditional lotteries, Metalottery uses Chainlink’s Verifiable Random Function (VRF) to ensure provably fair and unbiased results for every draw. And with new lottery rounds starting every 8 hours, players can enjoy the thrill of winning more often than ever before.

At the heart of Metalottery is the PLT token, the fuel of the platform’s ecosystem that players can use to purchase tickets. Metalottery makes purchasing Pool Lottery Token (PLT) available and straightforward on their website. Players can also spin the “Wheel of Fortune” for additional rewards as well as participate in a growing community of lottery enthusiasts on Telegram and Discord.

Bouropoulos added: “Our platform is designed to be inclusive and accessible to a global audience. By combining innovative technology with a user-friendly interface, we empower players to take control of their lottery journey. We are charging no fees for participation and all proceeds from tickets go towards the jackpot. Our goal is to build the biggest lottery community in the world.”

The post Metalottery Launches Blockchain Lottery Revolution: Zero Fees, Instant Wins and Life-Changing Jackpots in Crypto appeared first on European Gaming Industry News.

Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity

April 25, 2024 Published by EuropeanGaming.eu

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Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.

This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.

Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”

This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.

The post Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity appeared first on European Gaming Industry News.

After Crossing 100,000 Active Users, Hypeloot.com Announces The Launch of Its Utility Token $HPLT

January 23, 2024 Published by EuropeanGaming.eu

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Hypeloot was established in 2022 and has processed over 50 million bets for over 100.000 Users worldwide, being one of the fastest growing Cryptocurrency casinos, releasing new game modes almost every week and a recent surge in growth which is likely to accelerate.

Hypeloot Originals cross 50 million bets mark

With new game mode additions, the number of daily bets and also bets placed per user is increasing by the day. Hypeloot adds some of the most popular Casino games but is also not afraid to add an innovative touch to the platform by developing new games that are gaining a lot of popularity, for example, the Plinko game with a 100.000X multiplier, making it the first-ever Plinko game with this high of a multiplier which is not only something innovative for the Gambling industry but also a great marketing tool as users always try to chase high multipliers.

Hypeloot .com profit share with $HPLT holders

All $HPLT holders will indirectly profit from the rampant Hypeloot .com growth and its already increasing profitability via daily buyback & burn events. Hypeloot profits will automatically go towards purchasing $HPLT tokens on the open market and burning them right after – on a daily basis!

The Hypeloot $HPLT Token

The $HPLT Presale will start the 1st of February at 15:00 UTC directly on presale.Hypeloot .com, the presale is split into different stages in which the first investors get the cheapest possible price and are also eligible for the Hype NFTs which will be tradable right on token launch. 40% Of the total supply will go towards Presale contributors, rest is split between liquidity, marketing, team, airdrops and more. All Team tokens will be locked and vested on a transparent level.

Fueling The Hypeloot Ecosystem

Hypeloot is one of the only Crypto casinos offering Fiat payment gateways and all major payment providers making it easy for every user. On top of that, Hypeloot also currently offers all major Cryptocurrencies for deposits and withdrawals. All Games are 100% provably fair with an open and transparent guide on how to check each roll, the EOS and Chainlink Blockchain hashes are being used to generate 100% randomness.

Hype NFTs

Hype NFTs are the official NFTs of Hypeloot .com ($HPLT), it will initially only be available to presale contributors, on launch, these NFTs can then be traded, bought, sold and used on Hypeloot .com for free bets, staking pools, increased rakeback and much more. These NFTs are strictly limited and will not be minted more than the given supply.

Hypeloot .com Numbers and Outlook

Hypeloot has generated over $1 Million in revenue in 2023, given that regular slot and live casino games will be added soon, it is expected to have a significant surge in the coming weeks as this is anticipated by a lot of current users, this new addition also open the door to a lot of new user acquisition as well as higher profit per user given all the new game modes.

KuCoin Delivers Keynote Speech at Green Sustainable Finance Forum in COP28 Blue Zone

December 12, 2023 Published by TheBlockchainExaminer.com

Dubai, UAE, December 12,2023 – KuCoin, a top five global crypto exchange, proudly presented at the Green Sustainable Finance Forum at the United Nations Climate Change Conference (COP28) in Dubai, UAE. The Forum was held in the Rotary Pavilion organised by the Global CSR Foundation.

COP28 brought together a diverse group of over 90,000 attendees, and is expected to be a critical platform for galvanising global climate action. The Green Sustainable Finance Forum has shed light on how to integrate sustainability into the financial system by raising awareness and leveraging technology.

KuCoin’s Chief Sustainability Officer (CSO), Nancy Cheung, delivered a keynote speech on the critical role of Green Blockchain technology. She emphasised how blockchain technology and decentralization have brought positive changes to the society, and also mentioned that “KuCoin is deeply committed to fostering green sustainable finance and development. We call on everyone to join their efforts toward this great action, and to make the world a better, and greener place.” Other distinguished guests including Patrick Bolton, the former President of the American Finance Association, Beatrice Weder di Mauro, Chairman of the Center for Economic Policy Research (CEPR) also joined the forum to share their insights on Climate Change on Finance, and CEPR and Climate Change.

The issue of climate change has long been a pressing concern for nations globally, representing a universal challenge for humanity. Blockchain, as an emerging technology, holds the potential to push forward the mass adoption and application of green finance due to its diverse, transparent, traceable, and immutable nature, while playing an effective and vital role in the global efforts to reduce carbon emissions. Such promising potential, on the other hand, also creates a demand for professionals skilled in blockchain technology within the sustainability sector, unlocking more opportunities ahead.

At its heart, decentralization is about the distribution of power away from a central authority, and is often seen as a progressive move of refining the structure of human society. This shift can democratize access to opportunities and resources. A decentralized system,enables women to find more accessible entry points to advance their professional path. In addition, decentralization removes barriers imposed by geographical location, socio-economic status, and gender biases, thus leveling the playing field for women and other underrepresented groups.

As an organisation deeply engaged in the blockchain sector, KuCoin urges the industry to join hands, leverage our resources, and foster a sustainable future as a team. Together for a greener earth, together for a brighter tomorrow.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 30 million users in more than 200 countries and regions. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards.

The post KuCoin Delivers Keynote Speech at Green Sustainable Finance Forum in COP28 Blue Zone first appeared on The Blockchain Examiner.

SimplePin, the leading cloud-based digital payment solution for the insurance industry, welcomes Mountain West Insurance aboard as a new client

December 11, 2023 Published by TheBlockchainExaminer.com

SimplePin is a FinTech company with a bold vision to simplify financial operations, focusing on making these operations seamless through technology. As the end of the year approaches, SimplePin is proud to welcome Mountain West Insurance aboard as a new client.

“What separates us from others in the arena,” comments SimplePin’s Director of Product, Seth Baumwell, “is our sophisticated understanding of payments, receivables, and insurance. Our new product, SimpleMatch, processes and posts offline payments – solving problems that many in the insurance industry face in an unprecedented way. We make the complex simple, making our customers’ lives better with amazing products and the highest level of service.”

SimplePin is known across the insurance industry for transforming back-office accounting and reconciliation processes, digitizing customer and staff experiences, and harnessing the ability to process all forms of incoming payments. SimplePin’s system matches and posts receipts to receivables in real time, automatically reconciles the general ledger, and offers comprehensive integrated payment options for eCommerce and digital sales.

The post SimplePin, the leading cloud-based digital payment solution for the insurance industry, welcomes Mountain West Insurance aboard as a new client first appeared on The Blockchain Examiner.

Unlocking Potential: Saudi Arabia’s ICT Market Insights Revealed by Infinium Global Research

December 4, 2023 Published by TheBlockchainExaminer.com

In recent years, Saudi Arabia has demonstrated remarkable progress in modernizing its Information and Communication Technology (ICT) sector. This transformation is driven by strategic initiatives from the Communication and Information Technology Commission (CITC), which has prioritized enhancing market competition through regulatory flexibility, transparency, and collaborative efforts. Notably, the International Telecommunication Union (ITU) recognizes Saudi Arabia as a leader in the Arab State region, achieving a “generation 4” (G4) status in the ITU Global ICT Regulatory Outlook 2020. Within the Middle East and North Africa regions, Saudi Arabia stands as one of the largest markets for Information and Communication Technology. With its strategic geographical location, Saudi Arabia is well-positioned to emerge as a hub for technology services and cloud computing, boasting global connectivity access via the Red Sea, thereby serving markets in Europe, Asia, and Africa. As a G4 country, Saudi Arabia effectively integrates ICT regulation with a separate regulatory authority vested with enforcement powers. This authority operates with a clear mandate, overseeing a fully competitive market while safeguarding consumer interests under the “generation of regulation” model. Projections indicate that the Saudi Arabian ICT market is expected to experience a 5.6% growth in 2023, reaching a total value of $33.43 billion in 2022. This growth is predominantly driven by hardware expenditure, accounting for 58.5%, followed by services (30.4%), and software (11.1%).

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/contact-us

Key Business Opportunities and Factors Driving ICT Growth in Saudi Arabia:

Cloud Adoption Surge: Anticipate a robust migration to cloud computing, as organizations increasingly embrace Infrastructure-As-A-Service and Platform-As-A-Service solutions.
Emphasis on Edge Computing: Expect increased investments and collaborations in edge computing, facilitating the successful deployment of emerging technologies and use cases.
IT Services in the AI Landscape: IT services providers have the opportunity to design and implement innovative business models while effectively managing data and infrastructure.
Emerging Technology Integration: Witness a growing demand for industrial and intelligent automation, coupled with seamless integration with future technologies like IoT, AI, and Blockchain.
Green Data Centers: Anticipate a surge in green data center initiatives, data center consolidation efforts, and policy changes aimed at enhancing data center sustainability.

Driving Forces for ICT Growth:

Saudi Arabia’s ICT expansion is propelled by rising personal incomes and a growing pool of specialists committed to advancing leadership in connectivity and information technology. Additionally, the nation boasts a robust economy, political stability, a youthful demographic, and national policies that prioritize economic diversification. Factors such as increased foreign direct investment (FDI), a burgeoning ecosystem that supports ICT innovation and entrepreneurship, a thriving telecommunications sector, and a growing IT service industry collectively stimulate ICT investments in Saudi Arabia.

Investments:

Saudi Arabia is embarking on a new era of digital innovation, with ICT spending projected to exceed $34.5 billion this year, underpinned by significant foreign direct investment and a substantial $7 trillion development plan for the giga project. In 2023, the Saudi government is making noteworthy investments in key areas, including AI, IoT, cybersecurity, and data analytics.

In the realm of foreign direct investment, Saudi Arabia is incentivizing data center investments of $400 million, which create a minimum of 20 jobs with an average annual wage of $40,000, thereby qualifying for up to 30 years of tax savings.

Furthermore, as part of its commitment to digital transformation and preparation for the future economy, Saudi Arabia has unveiled investments exceeding $9 billion in its technology sector. These investments are spearheaded by a substantial $2.1 billion commitment from Microsoft to establish a super-scalar cloud infrastructure in the country, and Oracle’s $1.5 billion investment to fortify the kingdom’s cloud computing capabilities. Additionally, China’s Huawei is contributing $400 million to enhance Saudi Arabia’s cloud infrastructure.

The information and communication technology sector in Saudi Arabia are valued at SR134 billion, constituting 4.1% of the Kingdom’s gross domestic product (GDP), emphasizing its growing economic significance.

During the forum, the Communications, Space, and Technology Commission (CST) announced that the ICT market in Saudi Arabia surged to a value of 154 billion in 2022, establishing itself as the largest and most rapidly expanding digital economy in the region. Additionally, Dr. Altamini emphasized that CST has introduced high-speed internet services in 21,000 villages across the nation, addressing the needs of over 5 million people and ensuring uninterrupted communication services. This underlines the substantial progress in the Kingdom’s communication and technology infrastructure. Notably, 5G coverage in Riyadh has reached an impressive 53%, while exceeding 94% in other regions. The utilization of fiber optics has extended to 3.7 million users in Saudi Arabia, reflecting a dynamic shift towards advanced and high-speed connectivity solutions.

Opportunities:

The Ministry of Communication and Information Technology (MCIT) has been primarily focused on establishing a robust and advanced architectural framework to facilitate digital transformation across various domains such as e-commerce, smart cities, national data management, digital education, digital healthcare, and e-government. In line with Saudi Arabia’s ICT strategy for 2023, the objectives include generating more than 25,000 employment opportunities within the sector, achieving a 50% expansion in the IT market size and technology development, and increasing the sector’s contribution to GDP by $13.3 billion. The strategy also aims to attract international investments and promote the active participation of women in the field. According to the International Data Corporation (IDC), the Saudi ICT sector experienced an impressive 8% growth between 2019 and 2021, culminating in a total value of $32.1 billion.

In a move to bolster the resilience of the Supreme Audit Institution (SAI) through ICT solutions, the Saudi Fund for Improved SAI Performance (Saudi FISP) is facilitating the expansion and enhancement of ICT infrastructure. The Saudi Arabia General Court of Audit has generously allocated $1 million to be distributed among International Organization of Supreme Audit Institution (INTOSAI) members that require external assistance to advance their ICT infrastructure, thus fortifying the capabilities of these institutions.

Need Assistance? Send an Enquiry@ https://www.infiniumglobalresearch.com/contact-us

Vision 2030:

Saudi Arabia’s Vision 2030 is focused on the bolstering of the ICT sector with the goal of forging a digital society, digital government, digital economy, and a forward-thinking future for the Kingdom. Within this framework, the Ministry of Communication and Information Technology (MCIT) establishes the groundwork for diversification and enhancing competitiveness. It revolves around three primary pillars, each delineating specific objective to be realized by 2030: fostering a dynamic society, fostering a prosperous economy, and shaping an ambitious nation via a well-crafted digital strategy, enabling a connected present and an innovative future.

Challenges:

Saudi Arabia encounters difficulties in both enlarging its domestic ICT workforce and attracting foreign talent. Moreover, sourcing local professionals with hands-on experience in cutting-edge technologies like cloud computing, mobility solutions, and cybersecurity proves to be a challenge. The nation also grapples with significant cybersecurity threats, further complicating its ICT landscape.

Main Players

IBM Middle East
Saudi Telecommunication company
Amazon.ae
Palo Alto Networks Saudi Arabian Limited Company
nybl

The post Unlocking Potential: Saudi Arabia’s ICT Market Insights Revealed by Infinium Global Research first appeared on The Blockchain Examiner.

Skale and Cryptopia Collaborate

November 23, 2023 Published by EuropeanGaming.eu

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Making free-to-play-and-earn a reality for gamers

With great excitement, we are pleased to announce our partnership with Skale, a zero-gas fee EVM blockchain. As a pioneering free-to-play-and-earn game that embodies the spirit of a new era in gaming, this alliance is set to transform the gaming landscape by empowering players to combine fun and earning opportunities without the constraints of excessive fees or financial barriers.

We are living in exciting times. Gradually, we are entering an era where games are not only for fun but also offer a seamless play-to-earn model. This era is set to change how we think about blockchain games.

Why is this important?

Like every other industry, the play-to-earn (P2E) gaming world is undergoing a remarkable transformation. We’re witnessing the rise of an era where on-chain gaming isn’t just a form of entertainment but also a source of income without causing stress to players.

In this ever-evolving landscape, Cryptopia doesn’t just emerge as a game but as a pioneer of this new free-to-play-and-earn era. It represents a gateway that allows players to dive into a world where enjoyment and earning are not just parallel but intertwined paths.

However, realizing the vision of a game that’s both free to play and rewarding to engage with presents its unique challenges. The most significant of these is cost; the hidden fees and expenses that often limit a player’s earnings and enthusiasm. This is where Skale becomes not just relevant but revolutionary.

How does Skale come in?

By integrating Skale’s zero gas fee EVM technology, we’re dismantling the financial barriers that will hinder the full potential of Cryptopia’s play-to-earn model. This technology is a literal game-changer. It paves the way for a gaming experience where the focus shifts back to what’s important: the joy of playing and the thrill of earning. We’ve made free-to-play-and-earn easy.

This partnership with Skale is more than just about technology integration; it’s a bold statement. It declares that Skale is out to reshape the gaming experience, to make it more inclusive, more rewarding and more thrilling than ever before. It’s our commitment to the players; to provide a platform where their passion for gaming aligns with tangible rewards, without the burden of hidden costs. We envision a future where the boundaries between playing for fun and playing for profit blur, creating a compelling and empowering gaming experience.

What this means to Cryptopia

Skale’s innovative Layer-2 scaling solution will bring a multitude of benefits to Cryptopia, enabling it to fully realize its potential as a leading P2E game:

Reduced transaction costs: Skale’s zero gas fee EVM blockchain significantly reduces transaction costs. For a free-to-play-and-earn game like Cryptopia, this is crucial, as it makes the game more accessible and appealing to a broader audience by removing financial barriers.
Multichain expansion and interoperability: By integrating with Skale, Cryptopia advances towards its goal of becoming a multichain platform. This not only enhances the game’s interoperability across various blockchain networks but will also broaden Cryptopia’s appeal to a larger audience.
Enhanced scalability: Skale’s highly scalable network is designed to handle a large volume of transactions and user interactions, ensuring that Cryptopia can grow without facing performance bottlenecks. This will provide a smooth and uninterrupted gaming experience for all players, even as the game’s popularity expands.
Increased security and reliability: By leveraging Skale’s secure and decentralized infrastructure, Cryptopia can provide a safe and reliable gaming environment for its users. This is crucial for building trust, especially when in-game assets and player progress are involved. Skale’s robust security measures will protect players’ assets and ensure the integrity of the game’s ecosystem.

MapMetrics expands to peaq from Solana following addition of Solana compatibility to peaq’s Multi-Chain Machine IDs

November 23, 2023 Published by TheBlockchainExaminer.com

peaq, the blockchain for real-world applications, announces the expansion of its ecosystem and product offering. MapMetrics, a Web3 drive-to-earn navigation app, will leverage peaq as part of its decentralized physical infrastructure network (DePIN) powering a Google Maps-style service. The development comes as peaq adds Solana compatibility to its Multi-Chain Machine IDs.

A Solana-originating project, MapMetrics will leverage the now Solana-compatible peaq IDs to build functions of the MapMetrics DePIN on peaq. These will include assigning peaq IDs to the navigator devices on its DePIN, using these IDs to authenticate the data collected by these devices, and a community voting mechanism.

Free navigation apps have become trusty companions for countless people around the world, with Google Maps alone boasting over a billion users. But despite a lack of an upfront cost, they come with a price of their own. When something is free, you are the product; when navigation is free, your personal data is being monetized. From leveraging the user’s position data for valuable insights on specific locations to serving them targeted location-based ads, the companies behind such apps profit from our sensitive data, sometimes without giving much thought to its privacy and protection. And in the case of massive companies like Google, they combine this data with the data sourced from all other Google-related data points to create digital models of ourselves, able to predict our behavior than ourselves.

MapMetrics is changing the equation by putting navigation on Web3 rails. It uses location trackers that enable users to share their anonymized data with the network, earning cryptocurrency and NFTs as rewards. While featuring its own ad engine, it makes sure that no private user data is exposed to the advertisers and shares the ad revenue with the community. It boasts 3,500 devices in the network and 5,000 users across 73 countries.

As part of its integration with peaq, MapMetrics will use peaq’s Multi-Chain IDs to enable devices to connect with the peaq network. It will build and deploy some of the core functions powering its navigation DePIN on peaq, using peaq IDs to authenticate and sign the anonymized data that the devices collect. It will also tap peaq to build a community voting pallet — a building block that other projects will be able to use as well — which will enable the community to contribute to its Google Maps-style navigation service by adding the locations of speed cameras and other objects and validating it with votes.

This comes as peaq expands the compatibility of its peaq IDs to include Solana. Enabling this is an address map running as part of the peaq storage pallet, pallets being modules for building blockchains in the framework that peaq runs on. This map works like an address book, linking addresses of different standards used on various networks and thus enabling cross-chain communication and information exchanges.

For example, with this integration, a solar panel with an ID on Solana will be able to connect to an energy marketplace on peaq. The previous updates made peaq IDs compatible with Binance’s BNB Chain, Ethereum Virtual Machine, and Cosmos. peaq’s steps toward its Multi-Chain vision have already eased the transition for projects coming from Algorand and Polygon, and will now unlock new opportunities for MapMetrics and other projects in the Solana ecosystem.

The peaq ID compatibility expansion enables teams originating on Solana to expand and leverage peaq’s DePIN functions without friction or fragmentation. With peaq Multi-Chain IDs, Solana-originated projects can easily tap peaq for some of their crucial functions.

“With its DePIN-focused functions and economics, peaq is the perfect home for DePINs,” says Brent van der Heiden, CEO of MapMetrics. “We are excited to be joining this bustling ecosystem, and the newfound compatibility between peaq IDs and Solana addresses is making this process significantly more convenient.”

“We believe in an open, Multi-Chain Web3 with seamless communication and value exchange between a plethora of protocols,” says Till Wendler, co-founder of peaq. “By making peaq IDs compatible with Solana, we take another step toward bringing this vision to life — and it’s invigorating to see excellent projects such as MapMetrics use this technology to solve real business problems with the DePIN model.”

Global Blockchain Market Report 2023-2028 – Profiles of Key Players IBM, Oracle, Infosys, Wipro, Bitfury and More

November 23, 2023 Published by TheBlockchainExaminer.com

The “Global Blockchain Market: Analysis by Component, By Type, By Enterprise Size, By Application, By Industry Vertical, By Region Size and Trends And Forecast To 2028” report has been added to ResearchAndMarkets.com’s offering.

Blockchain technology has been gaining immense traction in recent years due to its potential to enhance security, transparency, and efficiency across various industries. The global blockchain market, valued at US$11.02 billion in 2022, is expected to surge to a staggering US$265.01 billion by 2028, reflecting the growing demand for blockchain solutions and services.

Several key factors are driving this surge in demand for blockchain technology:

Digitalization: As industries continue to digitize their operations, blockchain is emerging as a crucial tool for enhancing data security and efficiency.
Favorable Government Initiatives: Governments worldwide are recognizing blockchain’s potential to improve transparency and security in sectors like land registration, identity management, and voting.
Diverse Industry Adoption: Blockchain is finding applications across various sectors, including BFSI, retail, healthcare, and more, driving its widespread adoption.
Decentralized Applications: The rise of decentralized applications and services is fueling the need for blockchain solutions.
Cryptocurrency Usage: The increasing use of cryptocurrencies is boosting blockchain’s significance.
Data Protection Awareness: Growing awareness of data protection and the need to safeguard against cyber threats like malware is contributing to blockchain’s growth.

Additionally, notable trends such as the integration of artificial intelligence (AI) with blockchain, Blockchain as a Service (BaaS), the Non-Fungible Token (NFT) boom, and the growth of DeFi (Decentralized Finance) are shaping the blockchain landscape.

Market Segmentation Highlights:

Component: The global blockchain market comprises two main components: Solutions and Services. Solutions, offering essential technological infrastructure, customization options, and security features, claimed the majority of market share in 2022. Services, which provide specialized expertise for navigating blockchain complexities, are the fastest-growing segment.
Type: Blockchain is classified into three types: Public, Private, and Hybrid. Public blockchains, known for decentralization, transparency, and open access, dominated the market in 2022. Private blockchains, offering faster transactions and scalability, are the fastest-growing segment.
Enterprise Size: Large enterprises, with their complex processes and data management needs, held the majority of the market share in 2022. Small and medium enterprises (SMEs) are the fastest-growing segment, attracted by blockchain’s scalability, accessibility, and potential for process optimization.
Application: Blockchain applications span seven segments: Payments, Exchange, Smart Contracts, Documentation, Digital Identification, Governance, and Others. Payments, revolutionizing cross-border transactions and remittances, accounted for the majority of market share in 2022 and are the fastest-growing segment.
Industry Vertical: Seven industry verticals are served by blockchain technology: BFSI, Government, Travel, Healthcare, Retail, Telecom, and Others. BFSI, aligning strongly with blockchain’s principles, leads in market share and is also the fastest-growing segment.

Regional Insights:

North America: The region, with a vibrant blockchain startup ecosystem, recorded the highest market share in 2022. The U.S., home to major players like IBM, Microsoft, and Amazon, holds a competitive advantage.
Asia-Pacific: Rapid growth in this region is attributed to government support, a burgeoning financial sector, and a tech-savvy population. China, with nationwide digital transformation and heavy tech investments, leads in the Asia-Pacific region.

Competitive Landscape and Recent Developments:

Key players in the global blockchain market are:

IBM
Oracle Corporation
Infosys
Intel Corporation
Wipro Ltd
NTT DATA
Huawei Investment & Holding Co. Ltd.
Hewlett Packard Enterprise
Amazon
Accenture
ConsenSys
LeewayHertz
Bitfury
ScienceSoft

As blockchain continues to evolve and disrupt industries, it is poised for exceptional growth with a projected CAGR of 69.9% during the forecast period of 2023-2028. Blockchain technology’s blend with AI, coupled with its diverse applications, makes it a key driver of innovation in the digital age.

For more information about this report visit https://www.researchandmarkets.com/r/rgypes

Spool hones in on bringing institutions into DeFi by launching its expansive V2 upgrade

November 22, 2023 Published by TheBlockchainExaminer.com

Spool DAO, or Spool, the platform allowing institutions and users to build customizable risk-managed DeFi products, launches its V2 upgrade. Spool’s new platform expands its original DeFi infrastructure and tools, with heightened decentralized access and new capabilities. Institutions of all sizes can now leverage its slate of new features and interface updates to build, manage, and explore DeFi products with unparalleled flexibility, risk reduction, and security.

Despite crypto’s whirlwind year, DeFi’s blue-chip protocols managed to largely withstand the industry-wide chaos. But that doesn’t mean the DeFi landscape hasn’t changed at all. Looming regulatory steps, such as the new bipartisan bill entering the U.S. Senate, aim to monitor DeFi apps similarly to banks, setting the stage to accommodate increasing interest from legacy financial institutions. Banks and institutions clearly see potential in crypto and DeFi’s financial possibilities, but they lack the proper tools to enter it easily, compliantly, and on their terms.

To meet this institutional need, Spool now provides a completely rebuilt platform for risk-managed and automated DeFi yield. Created from the ground up to be faster, more efficient, more composable, and easier to use than its predecessor, V2 represents a leap for Spool and institutions expanding their DeFi presence. The upgrade expands upon Spool’s core offering and introduces several key features to maximize the effectiveness of institutional DeFi investment. These features and enhancements include:

- Multi-Asset Smart Vaults: Institutions creating Smart Vaults can now build them to contain a range of yield strategies using multiple assets. Multi-asset Smart Vaults enhance functionality in addition to Spool’s classic auto-swapping and auto-rebalancing capabilities. Investors can simply create or pick an existing Smart Vault that matches their investment preferences, and send the assets they have available. The assets are then automatically swapped and implemented in audited and battle-tested smart contracts to attain the best yields possible while allowing funds to be withdrawn at any time.
- Smart Vault Guards: Institutions building Smart Vaults can now dictate which users can deposit or withdraw from the Vault based on specific criteria, mirroring traditional investment funds. This helps institutions tailor DeFi offerings not only to regulatory compliance but to their specific client needs as well. Institutions can create KYC and AML-compliant Smart Vaults, for example, and only allow access to vetted investors through whitelisted wallets. Other parameters include NFT or Token Gating (where a user must hold a specific NFT or token amount to access the vault), and Time Locks.
- Actions: Spool builders can now implement customizable actions tied to user activities such as entering or exiting a Smart Vault that is configured during its creation. Actions help support institutions by creating a framework that feels familiar to traditional finance and includes features such as deposit or withdrawal fees, deposit insurance fees, and automated asset swaps that help streamline the once-manual process for yield farming.
- Liquid Staking Derivatives (LSDs) Support: LSDs are tokens issued in return for staking cryptocurrency through a staking provider. This comes in handy for networks such as Ethereum, where validators must hold a minimum of 32 ETH to access staking and validator privileges. LSDs also allow users to withdraw staked ETH, which validators cannot do. As strategies using LSDs become more popular and prevalent, adding support in V2 enables greater convenience.
- Advanced Automation: One of DeFi’s major obstacles lies in manual asset management within yield farms. V2 improves upon Spool’s original automation features while maintaining decentralization and self-custody. Once assets are within a Smart Vault portfolio, V2 automatically rebalances them between various strategies configured in the Vault. Spool also now offers automated collateral conversion, meaning clients investing in a Smart Vault can utilize any underlying asset they have available. Spool automatically converts the asset before investing, granting increased ease and choice.
- Deposit NFTs (dNFTs): D-NFTs provide users with an immutable NFT receipt of their Smart Vault deposits, enabling the withdrawal of funds. ERC-20 Smart Vault Tokens (SVTs) are created by burning D-NFTs and act as yield-bearing stablecoins, which can be easily transferred or traded on a secondary market, creating a new liquid financial instrument.

Check out Spool’s video here: https://drive.google.com/file/d/150B6sSdX9gMAjdig-5675nLfftciWidJ/view

More detailed video with features overview can be found here: https://drive.google.com/file/d/1uIr_AJ_iHKErkHR5lFaUWk39A4-NUtEo/view?usp=drive_link

Among these new features, Spool V2’s completely redesigned interface allows institutions and asset managers to have a birds-eye view of their Smart Vault portfolio. The platform champions accessibility while providing the comprehensive tools and oversight that institutions require. This includes tools for easily white-labeling Smart Vaults for client access with their own branding and unique insights into Smart Vault performance based on customizable KPIs.

By enabling the codeless creation of financial services and products backed by audited financial primitives, institutions that don’t have DeFi-specific teams are now able to easily access DeFi. The upgrade’s capabilities set the stage for large-scale institutional partnerships in the pipeline for Spool, following a steady stream of integrations and collaborations leading up to its launch.

“We are incredibly proud to launch Spool V2 after countless months of our team developing, testing, and listening to the feedback and needs of our institutional partners,” says Philipp Zimmerer, Lead of Token Strategy of Spool. “This lands at a pivotal moment in crypto in a year that has been all about responsibly rebuilding the industry and forging a new path for DeFi. Improving access, flexibility, and security will not only garner further institutional support but set a new standard for what DeFi can make possible for any investor.”

Tag: Blockchain