Singapore, Nov. 7, 2022 – XT.com, the world’s first socially infused trading platform, is thrilled to announce the listing of BIGP on its platform in the Main zone, and the BIGP/USDT trading pair will be open for trading from Nov. 8, 2022, at 14:00 (UTC).
- Users can deposit BIGP for trading on Nov. 7, 2022, at 14:00 (UTC).
- Withdrawals for BIGP will open on Nov. 9, 2022, at 14:00 (UTC).
About BIGP Token
Big Point (BIGP) is an ERC-20 standard governance token issued on the BarterSmart blockchain with a total supply of 11 million. Owners of BIGP are able to participate in the governance of the project, which supports the POINTS stablecoin (pegged to the Thai baht).
For every new subscriber in the Big Point ecosystem, the coin’s value will increase by 20 satangs (1 satang = one-hundredth of a baht). With every membership, the value and demand for BIGP will increase.
About the Big Point ecosystem (BarterSmart)
BarterSmart is a product exchange platform that brings together businesses and entrepreneurs in Thailand who would prefer to exchange goods and services with each other through a barter system. It’s a nonprofit organization that provides tools for business owners.
BarterSmart introduced the idea of combining barter trade and cryptocurrency. The platform uses Points and Big Points as its financial exchange methodology. The ecosystem contains Point and Big Point, two Thai utility tokens. Big Points are digital shares of BarterSmart. Points, on the other hand, are added according to the number of new members (for every new member, 27,500 points are added to the pool). Points can be used as an intermediary to exchange products and services in the BarterSmart community.
On BarterSmart, users can create product presentations, increase sales channels, release stock, exchange, and help and expand business with each other.
XT.com will continue to further strengthen its battle-hardened crypto listing strategies to improve the trading options for all of its users. Deposit, trading and withdrawal options will be available for both BIGP and XT holders. Everyone is encouraged to indulge in BIGP trading seamlessly anytime, anywhere without any limitations. As promised, XT.com will continue welcoming projects for crypto listings and achieve parallel growth with them.
Website: https://bartersmart.co.th/
Facebook: https://www.facebook.com/bartersmartth
Line: https://line.me/R/ti/p/@bartersmart
YouTube: https://www.youtube.com/channel/UCu6UttQn0mbkWOl7i3KTxHg
About XT.COM
By consistently expanding its ecosystem, XT.com is dedicated to providing users with the most secure, trusted and hassle-free digital asset trading services. Our exchange is built from a desire to give everyone access to digital assets regardless of where you are.
Founded in 2018, XT.com now serves more than 6 million registered users, over 500,000 monthly active users and 40 million users in the ecosystem. Covering a rich variety of trading categories together with a nonfungible token-aggregated marketplace, our platform strives to cater to its large user base by providing a secure, trusted and intuitive trading experience.
As the world’s first social-infused digital assets trading platform, XT.com also supports social networking platform-based transactions to make our crypto services more accessible to users all over the world. Furthermore, to ensure optimal data integrity and security, we see user security as our top priority at XT.com.
Website: https://www.xt.com/
Twitter: https://twitter.com/XTexchange
Telegram: https://t.me/XTsupport_EN
Belize City, Belize, 27th October, 2022, Chainwire
GEM Digital Limited commits 25 Million Dollars to MintMe.com Coin. MINTME rose by over 50,000% in the last two years, and such news will only speed up its march to the top.
MintMe, with over 70 000 users growing against the bear market, was built to serve as an alternative to fiat crowdfunding services. It allows users to create a unique token representing their brand or idea and have their fans and followers buy them as a means of donation. MintMe works as an electronic marketplace for these tokens, and it also has a traditional crypto exchange market within its services.
Thirty developers have been working tirelessly for over a year on a new, not yet released MintMe 2.0 version. It will include many ground-breaking features, such as adding a token shop, giving creators more options to monetize their ideas, and for investors to support projects with potential. This version will completely change the visual interface for MintMe, and it is planned to be released near the end of 2022.
This investment commitment from GEM Digital will allow MintMe to propel its growth, allowing them to allocate funds toward talent acquisition, further development of its marketing efforts, the acquisition of scalability-related infrastructure, and the build of a fully functional mobile application to accompany its site.
Their commitment to providing MintMe with up to a 25 Million USD investment shows the untapped potential of the startup within their market sector and the institutional appetite for more blockchain-based alternatives to popular social and community services such as crowdfunding platforms.
MintMe.com is not only an instrument for prospective entrepreneurs as well as social figures and organizations to crowdfund what they do, but also, it can serve as a medium for creators to directly interact with supporters and for supporters to potentially influence the development path of their favorite project, as well as getting to know more about its creator.
MintMe continues to innovate and push its service forward, incorporating more and more features requested by its users and onboarding its native coin (MINTME) into multiple renowned decentralized exchange platforms. This, together with the notice of the upcoming release of their version 2.0 update, which will bring a complete redesign of the site, has been one of the factors of their exponential growth in the last couple of months.
This commitment by GEM is a big step towards the mainstream integration of MintMe as a secure, straightforward, and community-driven crowdfunding alternative, allowing the service to boost its rate of development and look into the potential of implementing even bigger and more ambitious features to the platform, such as the addition of an NFT marketplace, DeFi token swaps, and more.
About GEM Digital Limited
GEM Digital Limited is a digital asset investment firm. Based in the Bahamas, GEM Digital has committed capital to 50+ projects that trade on over 23 Centralized Exchanges globally. Their mission is to fuel growth and provide working capital to innovative, industry-leading projects in the Web 3.0 ecosystem.
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group with offices in Paris, New York, and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 570 transactions in seventy-two countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments.
Contact
CEO
Artur Makowka
MintMe.com
artur.makowka@mintme.com
Elrond, the startup building internet scale blockchain technology, announces its transformation into MultiversX. The company thus expands its mission of building the new internet economy to include the digital meta-space frontier.
The metaverse-forward company introduces three new products as the pillars for its evolution.
- xFabric is a sovereign blockchain module, and core blockchain applications. Deployable in minutes. Fully customizable. Including a great set of features and use cases for any creative, brand or company.
- xPortal is a true SuperApp. The portal to the Metaverse. The home of your avatar. Everything finance. A debit card. Friends, chat and social. Accessible to anyone, anywhere in the world.
- xWorlds is a world creation engine. Enabling a network of interoperable metaverse worlds. Beginning with the very first world. xWorlds is a platform developed in partnership with Improbable enabling unprecedented new experiences deeply integrated with xPortal and xFabric.
“Incredible amounts of creative energy are being poured into multiple compelling metaverse visions.” said Beniamin Mincu, CEO and founder of MultiversX (formerly Elrond Network). “MultiversX is building the collaborative framework and composable toolkit to set up the stage for a positive sum game of enormous stakes. For reimagining the entire spectrum of human experience and for reinventing the frontend of every business vertical.”
MultiversX will continue to build on the remarkable success of the Elrond Network, technology, community and ecosystem. It will continue to advance the groundbreaking scalable blockchain protocol and tools on the mission of proliferating Web3 technology.
Furthermore, it will expand and broaden the original scope and create the unique opportunity for its millions of users and vibrant ecosystem to lead the once-in-a-generation societal shift towards the metaverse.
The momentous transformation will unfold over a 3 day event at the Brongniart palace in Paris, where Jean-Noel Barrot, French Minister for Digital Transition and Telecommunications, Sebastian Burduja, Romanian Minister of Research, Innovation, and Digitalization, and important Industry leaders from finance, blockchain, Web3 and the Metaverse, will be introduced to the broadened MultiversX scope, products and path forward.
For more information visit: https://multiversx.com
Vienna, Austria, 2nd November, 2022, Chainwire
Riddle&Code, one of Austria’s fastest-growing startups, has established a new path of digitalization for industrial companies with its evolved purpose – onboarding industries to Web3. For many industrial companies it is challenging to transition into the new standards and find their way in the Web3 universe, often delaying entry into new potential business models. With this new technology from Riddle&Code, it is possible to tokenize industrial machines, create new crowdfunding opportunities, and provide trusted data.
To meet this ambitious purpose, the company has now launched programs to help enterprises and trailblazing developers alike capitalize on their own innovation. Called HW-03 Enterprise and HW-03 Community, the two programs from Riddle&Code focus on hardware wallet adoption that will accelerate not only Web3 knowledge but also create new business opportunities for a sustainable future.
Not every blockchain is suitable
Since its incorporation in 2016, Riddle&Code has been developing blockchain solutions for various industrial sectors, mainly energy production and electric vehicle manufacturing. Working with such companies as Wien Energie, Deutsche Telekom and Daimler Mobility, the team at Riddle&Code knows that not every blockchain has the necessary features to meet the specific needs of each industry. In order to push its clients into the fourth industrial age, Riddle&Code has enabled the launch of the RDDL Network, a blockchain-based protocol tailor-made for security, scalability and decentralisation in the energy systems sector. The HW-03 programs are built around usage of the RDDL Network, and require a physical connection via hardware wallets.
“The long experience in the field of cryptographic encryption on special hardware has inspired us to find a suitable solution for the industrial sector” says Riddle&Code’s founder Tom Fürstner, who recently released the whitepaper of the RDDL Network.
The RDDL Network utilizes a unique consensus mechanism called “Proof-of-Productivity”, which makes machines tamper-proof and enables a new kind of trust and traceability for the generated machine data. With a cryptographic hardware wallet connected to a machine, the machine turns into a decentralised identifier on the network – an Industrial Machine NFT. Therefore, the machine itself becomes a part of the network. In the upcoming years, Riddle&Code anticipates over 50 million machines operating as nodes on the RDDL Network, powering the energy sector of the future.
About Riddle&Code
Riddle&Code is a product-led services company specialising in onboarding industries to Web3. The company is the main driver for a world of interconnected token economies by enabling sustainable, green, and resilient machine industries. Riddle&Code offers various solutions to tailor industry-specific hardware wallets and Software-as-a-Service Products to build on decentralised blockchains, mainly contributing to the RDDL Network blockchain protocol.
More information: www.riddleandcode.com / www.rddl.io
Media contact: Christiane Rinke
Contact
Head of Marketing
Christiane Rinke
Riddle&Code GmbH
christiane.rinke@riddleandcode.com
London, UK, 31st October, 2022, Chainwire
Cleverminu, a hybrid meme and Inu token, has shared details of its much-anticipated token sale. The public event has seen 1 trillion CLEVERMINU tokens made available to establish a decentralized economy powered by its users. The token sale began on October 27 at 9:00 UTC, supporting price discovery and distributing CLEVERMINU to a global user base.
Part of a decentralized community network, Cleverminu’s native token combines the intricacy of Inu coins with the novelty of meme tokens. This results in a passionate and highly engaged community whose interests are centered around a thriving token-powered economy. Within the Cleverminu ecosystem, users have access to new features the moment they are shipped. These include forthcoming NFT functionality and new token releases.
The CLEVERMINU token sale began with an initial listing price of $0.0000001. The community bought nearly 13% of the total supply (130000000000 CLEVERMINU) in the first round, adding $13,000(130000000000 x $0.0000001) to the liquidity pool. The community then sent 13% of the tokens to a “burning wallet” to increase the scarcity of their tokens and bolster the value.
Another 10% (10000000000 CLEVERMINU) of the total supply was acquired by the community for $0.000001, adding $100,000 (100000000000 x $0.000001) to the liquidity pool, and 10% of the tokens were delivered to the burning wallet . To date, 46% of the total supply has been transferred to a burning wallet, stabilizing the token price and liquidity. Now the sale is going on at 0.00009USD and moving upwards.
“what you see today is just the beginning of what will unfold in the coming months.”
More than one million has been raised in three days and there are over 7,000 CLEVERMINU holders already. The smart contracts powering the Cleverminu ecosystem have been professionally audited by top contract verifiers in the form of HashEx, Quill Audits, Solid Proof, Haze Crypto, Audit Whale, Ethos and George Stamp.
About Cleverminu
CleverMinu is a unique token comprising the best bits of meme coins and inu tokens. It gives holders the power to own and maintain the value of their token. A community-based token, CLEVERMINU is designed to increase every time a purchase is made.
Learn more: www.cleverminu.com
Telegram : https://t.me/Cleverminu
Contact
CEO
Robins jac
cleverminu
support@cleverminu.com
Lotterium is the first online lottery developed and operated exclusively in the world of cryptocurrencies. Lotterium combines colorful slots and familiar online casino visuals, but under the bonnet lies solid lottery mechanics and a fixed RTP of 95%, which is equally high for all games. Lotterium is not just having lots of fun and trying your luck, but also a way to quickly and legally increase your savings in cryptocurrency. The maximum win in Lotterium is 10 Bitcoins (approx. $200,000).
Lotterium: Unique kind of joy
- Lotterium has 30 colorful and exclusive slots of its own make, just to start with, which are created by the best specialists in Las Vegas. You won’t find these games on any other platforms. This is a Lotterium exclusive. Our best developers came up with dozens of exciting game themes, from treasure hunting and time travel to luxury lifestyle. Our designers and animators created colorful and stylish visuals that will take you to the amazing world of excitement and fun.
- In Lotterium, you can only deposit and withdraw game funds in cryptocurrencies, which limits the circle of players to only an audience that is united in spirit, interests and values. What’s more, you can legally place bets and receive winnings in the crypto-lottery from any device and from almost anywhere in the world. Players are limited only by the regulations that apply to cryptocurrencies in their country of residence, and winnings are not taxed.
Lotterium features
- 30 colorful games of our own design: immerse yourself in the carnival atmosphere of Rio and ancient Rome, or try your luck in the classic games of Keno and Heads or Tails
- Reliable licenced lottery mechanics
- Betting with cryptocurrency: play your way to increase your savings
- Single high RTP of 95% for all games
- Play in any country of the world, legally and without snags (traps)
- Low deposit and withdrawal commissions thanks to native blockchain integration.
How does it work
Lotterium pre-generates a list of codes from games, forming a kind of digital stack of lottery tickets. Each time the user clicks the Play button, they are essentially pulling one lottery ticket from the stack. Whether you pulled out the winning ticket or not, depends only on your luck. The lottery RTP is fixed at 95%, which distinguishes this service from online casinos.
Playing the Lotterium online is simple: just register on the website or download the app.
At the moment, deposits and withdrawals are made in Bitcoin and Tether, but Etherium, Litecoin and many other cryptocurrencies will join the list in the near future.
Funds are credited in any of the accepted cryptocurrencies and are automatically converted into in-game currency – LTU (Lotterium).
Play your way to multiply your crypto-savings with Lotterium, unique kind of joy.
Oct. 31 — KyberSwap has integrated Multichain to bring even more ease and accessibility to KyberSwap users. So, you can now bridge your token assets from chain A to chain B in a single transaction.
Formerly known as Anyswap, Multichain is the leader in the cross-chain field, with a rapidly expanding family of 69 chains and 2,000+ bridges to service the needs of different and diverse blockchains.
Each blockchain has its own unique services, its own community and its own development ecosystem. For Web3 to reach the next level for consumers, users need a fast, secure, inexpensive and reliable way to exchange value, data and exercise control between the chains. Multichain aims to meet this need.
*Learn more about Multichain here
“This integration takes us a step closer to a reality of making decentralized finance easy and accessible for all with KyberSwap as the only DEX you need to use. Already, users have the best swap rates through KyberSwap. Now, we have eliminated the need for external DApps for bridging and cross-chain swapping,”
– Victor Tran, CEO of KyberSwap.
Why bridge assets to another blockchain?
There is a wide, wide world of Web3. Built on blockchain technology, a blockchain can host tokens, decentralized applications (DApps) and data that are immutable and have no central structure of ownership.
But not all blockchains are the same.
For example, some networks have cheaper gas fees, and some DApps are native to one or a select few networks.
How do blockchain bridges work?
A blockchain bridge allows you to transfer your token assets from one blockchain to another.
Typically, the asset that you intend to bridge will be locked up in the bridge, and a wrapped asset will be minted on your destination blockchain.
For example, everyone knows Bitcoin
$20,505 was the first decentralized currency. As the first of its kind, Bitcoin was only available on its own blockchain. Thanks to bridging, BTC now has wrapped versions and can be used on many other chains, such as Ethereum, Polygon, Solana, Cardano, etc.
*Did you know the KyberSwap team is one of the launch partners to create and bring Wrapped Bitcoin (wBTC) to Ethereum? Learn more about it here.
“The future will be multichain, and bridges will be necessary to enable chains to be connected. We are happy to support KyberSwap as a Web3 infrastructure, giving their users the chance to have cross-chain experiences that are more affordable, swifter, and more secure,”
– Multichain co-founder Zhaojun.
KyberSwap is proud to join the Multichain ecosystem and contribute to building a more cohesive, seamless decentralized finance (DeFi).
About Kyber Network
Kyber Network is building a world where any token is usable anywhere. KyberSwap, our flagship decentralized exchange (DEX) aggregator and liquidity platform, provides the best rates for traders in DeFi and maximizes returns for liquidity providers.
KyberSwap powers 100+ integrated projects and has facilitated over $11 billion worth of transactions for thousands of users since its inception. Currently deployed across 13 chains: Ethereum, BNB Smart Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent, Optimism and ETHPoW.
KyberSwap | Discord | Website | Twitter | Forum | Blog | Reddit | GitHub| KyberSwap Docs
Europe’s biggest crypto dev shop, BoostyLabs, and Hypra Fund have launched a joint venture studio for early-stage Web3 projects. The initiative also got support from Clust venture builder.
Boosty Venture Studio provides its portfolio projects with the best dev team in Europe, a network of industry-leading VCs, legal and operational support, and an initial investment of up to $300,000. It becomes a co-founder of each of the projects.
Boosty is looking for infrastructure projects, tools for developers and software-as-a-service solutions for Web3. It’s already incubated two startups, with plans to invest in five more by the end of the year. One of them is Stroom Network, a liquid Bitcoin staking protocol on the Lightning Network built by Lido and Bitfury alumni.
All founding partners of the studio are prominent Ukrainian investors and entrepreneurs. They have built successful tech companies with hundreds and thousands of employees. The initiative is led by crypto media veteran Nick Schteringard, former editor-in-chief of Forklog.com.
Igor Pertsiia, managing partner of Hypra, has closed over 50 venture deals throughout his career at TA Ventures. He advises Boosty’s startups on fundraising strategies.
“We are looking for ambitious founders from Ukraine and all over the world to build Web3 together. I’m especially proud that we invest in Ukrainian entrepreneurs. Our country is leading crypto adoption despite the ravaging full-scale war,” said Pertsiia.
Ryslan Tymofieiev, founder of Clust, has built a performance marketing company with 2,000 employees and a presence in 30 countries. Together with Adventures Lab partner Ruslan Drozdov, he mentors Boosty’s startups on operations efficiency.
“The ultimate goal of venture building is to accumulate experience, knowledge and methodologies to help startups overcome the death valley. It’s all about creating a systemic approach to building companies,” added Tymofieiev
Founders can submit an application here to join Boosty’s 2022 batch.
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California, United States, 26th October, 2022, Chainwire
Regen Network Development released its marketplace application for tokenized carbon and ecological assets, Regen Marketplace. Regen Network allows carbon project developers to originate high-quality nature-based carbon credits to markets, catalyzing regenerative finance solutions to the climate crisis. Regen Marketplace takes advantage of Regen Ledger, the application-specific blockchain which brings transparency and public governance to voluntary carbon markets, built on the CosmosSDK.
Regen Marketplace is a blockchain platform for the origination, governance, and exchange of tokenized ecological assets. Climate impact projects can define, manage, mint, and sell tokenized carbon and other ecological assets in the blockchain-based registry system.
Using Regen Marketplace, blockchains and validators striving to meet their climate commitments are encouraged to purchase, transfer, retire, and bundle tokenized carbon on the blockchain for carbon offsetting purposes, effectively removing carbon dioxide and other greenhouse gasses from the atmosphere. Blockchain dApps are encouraged to export tokenized carbon for DeFi or consumer climate impact apps.
In addition to the Marketplace launch, Regen Network will be introducing the Nature Carbon Ton to the Interchain Economy. NCT will be the first IBC-compatible carbon token for the Interchain economy by the soon-to-be launched Regen Ledger to Polygon bridge, co-implemented by Regen Network Development and Toucan Protocol. This allows for the activation of the Cosmos ZERO campaign, a climate impact initiative for Cosmos-ecosystem blockchains to become carbon neutral. In this campaign, Cosmos-based protocols work to identify their carbon footprints, utilize protocol governance to make a carbon neutral commitment, purchase Nature Carbon Ton from the $NCT:$REGEN pool launching on the Osmosis decentralized exchange, and redeem NCTs for ecocredits, retiring them on Regen Ledger for carbon offsetting claims.
Since 2020, Regen Network Development has partnered with blockchain protocols to become verifiably carbon neutral, including Osmosis, Stargaze, and Cheqd, retiring over 10,000 tons of carbon. In doing so, participants are able to submit a personalized message about their climate impact as tokenized carbon is retired, to be memorialized on the blockchain.
The CosmosZERO campaign aims to catalyze protocol and validator carbon offsetting within the Cosmos-based ecosystem to achieve the goal of net zero carbon emissions on the blockchain.
Gregory Landua, CEO of Regen Network Development, said, “The launch of the Regen Marketplace is a historical milestone in the global effort to address the climate crisis. Bringing more nature-based credits to a market hungry for a supply of high-quality carbon credits will help scale the global effort to reverse climate change. The underlying characteristics of this disruptive new marketplace are critical – radical transparency, community governance, and an open-source tech stack designed to rapidly expand and decentralize the global movement to reverse climate change. Regen Network is a neutral, sovereign appchain to serve the demands of the growing climate impact movement and market for nature-based carbon and ecological assets.”
Regen Network’s strategic launch partnership with City Forest Credits Registry (CFC) aims to kick-start a market for urban forest carbon credits by tokenizing and listing the 2021 City Forest Credits portfolio in Regen Marketplace.
CFC is the US national standard for carbon emission reductions through urban forest preservation and carbon removal through urban tree canopy reforestation. The urban forestry projects featured in the marketplace launch have direct impacts on 20 million Americans in urban communities, represent all the verified city forest carbon across the United States, is the largest urban forest carbon placement in history, and the first blockchain-based urban forestry portfolio.
As Regen Network onboards more partners to participate in the growing ecosystem of climate impact champions, like Moss.Earth, Open Earth Foundation, Earthbanc, ERA Brazil, Shamba Protocol, and Terra Genesis International, the protocol hopes to gain mainstream participation in the end-to-end lifecycle of seamlessly designing, tokenizing, and purchasing carbon credits to retire them for climate change impacts. Over 20 partners are currently designing new ecological assets within Regen Marketplace, giving consumers access to a climate-positive economic system. In 2020, Regen Network sold and retired over 120,000 CarbonPlus Grasslands credits to Microsoft for its Moonshot goal on the Regen Network blockchain.
For more information visit www.regen.network
Gregory Landua, CEO of Regen is available for interview
About Regen Network
Regen Network is an application-specific blockchain designed to serve the demands of the growing climate impact movement and market for nature-based carbon and ecological assets. Regen Network’s blockchain infrastructure originates high-quality nature-based tokenized carbon to markets, catalyzing regenerative finance solutions to the climate crisis.
About Regen Network Development, Inc.
Regen Network Development, Inc. is a blockchain software development company focused on building applications for ecological regeneration on the Regen Network blockchain. RND, Inc has been a maintainer of the CosmosSDK software stack since 2019.
RND Inc. is responsible for the largest Australian-based carbon credit purchase, the largest US-based urban forest carbon purchase, and the largest soil carbon credit purchase in history. RND Inc. sold the first issuance of CarbonPlus Grasslands credits to Microsoft for its Moonshot goal.
Learn more at https://regen.network, Press Kit, and follow us on Twitter.
Press Contact: David Fortson, david@loalabs.io
About City Forest Credits Registry
City Forest Credits is a 501(c)(3) nonprofit carbon registry that manages carbon and impact standards for metropolitan areas in the United States.
Contact
Director of Marketing
David Fortson
Regen Network Development
david@regen.network
805-450-2357
Singapore, Singpore, 19th October, 2022, Chainwire
The Bank for International Settlements (BIS) Innovation Hub and Bank Indonesia under the Indonesian G20 Presidency announced the winners of their jointly organized G20 TechSprint competition last week during a live award ceremony in Jakarta. This third edition of the TechSprint aims to catalyze the development of central bank digital currency (CBDC). Twenty-one finalists from more than 100 applicants worldwide developed and submitted innovative best-in-class CBDC solutions.
Dragonfly Fintech Pte. Ltd. from Singapore won the coveted “Effective and robust means to issue, distribute and transfer CBDCs” category ahead of about 100 participants globally, including some Fortune 500 companies. The other finalists for this category included BitMint, FIS, Mastercard Asia Pacific, R3, Ripple, Roxe CBDC, S.e.A.(Stellar, eCurrency and ANZ).
Other competition categories were “Enabling Financial Inclusion and “Improving Interoperability.” Eleven global expert judges conducted rigorous evaluation and scoring to decide the winners.
With the announcement of this year’s winners, Cecilia Skingsley, Head of the BIS Innovation Hub, said:
“This TechSprint has allowed us to improve our practical work on CBDCs. These technological solutions add to the central banks’ toolbox and provide a springboard for the further development of CBDCs. Our heartiest congratulations to the winning teams.”
Dragonfly’s winning production-ready solution showcased an effective and robust means for the issuance, distribution, and transfer of CBDC for wholesale and retail usage. The submitted solution included the following:
- nCore: Dragonfly’s proprietary blockchain infrastructure, designed for digital banking, enabling regulatory compliance, privacy and control, direct correspondent banking, and interoperability with legacy systems.
- Central Bank Solution: Integrated with an independent central bank-controlled network, a central bank can securely issue and distribute CBDC, execute monetary policy, and have complete oversight over CBDC in circulation. Onboarded financial institutions (FIs) can leverage the network to settle multi-currency transfers.
- mWallet: Integrated with an independently controlled FI network, Dragonfly’s mobile banking solution comes with a modularized backend operating management system that can quickly scale into a full-fledged digital bank.
Dragonfly followed key design principles to make CBDC SIMPLE, with its solution being:
- Scalable: The distributed multi-network design can quickly scale to serve a national CBDC rollout and facilitate cross-border payments.
- Interoperable: Operators can integrate with existing core banking ledgers and external payment and settlement rails.
- Modular: New digital banking modules can easily be plugged in using APIs and SDKs available in multiple common coding languages.
- Programmable: High programmability facilitates the design of innovative services, giving operators a competitive edge.
- Layered: The solution is a ready-to-use stack of future-proof layer one and two technologies.
- Extensible: A multi-touchpoint experience with dual offline capabilities that can serve the unbanked.
Dragonfly’s founder and CEO, Lon Wong, gave his thoughts on the optimal implementation for CBDC:
“For any country to embark on CBDC, I believe an implementation must be able to converge with the existing web of legacy financial systems. The financial burden for a significant CBDC rollout, especially for a vast and spaced-out archipelago like Indonesia, should be minimized through distributed and decentralized technology, preferably in a cloud environment, enabling the lowest possible cost of ownership with no single point of failure.“
Board member and advisor of Dragonfly, Jeswant Gill, outlined next-steps for the company:
“Our avant-garde platform infrastructure allows us to continue building more plug-ins, features, and functions. The modular design facilitates continuous innovation enabling our solution to advance and mature at an accelerated pace, staying the course as a market leader. A key focus moving forward is to engage and collaborate with the Indonesian government to pilot our CBDC solution.“
Winning this challenge serves as an affirmation that cutting-edge technology can be implemented cost-effectively. Dragonfly is inspired to bring its practical solution to emerging economies globally.
About Dragonfly Fintech
Dragonfly Fintech offers groundbreaking technology that is optimally cost-effective and easily accessible. Its customizable blockchain-powered fintech solutions help companies grow revenue and expand offerings while keeping costs at bay. Dragonfly solves legacy problems like complex infrastructure, slow transactions, and low interoperability with a technology suite that allows enterprises and governments to leverage blockchain technology, deploying cutting-edge fintech solutions with fast time-to-market and maximum accessibility.
To find out more about Dragonfly’s products, visit www.dfintech.com. Get in touch by emailing enquiry@dfintech.com.
Contact
Executive Director
Nicholas Watson
Dragonfly Fintech Pte Ltd
nicholas.watson@dfintech.com