Blockchain news

Abu Dhabi Global Market (ADGM) has partnered with Hacken, a global leader in blockchain security auditing, to set new standards for security and compliance in the blockchain industry. 

This is a unique collaboration between a regulatory body and a security auditor to create a world-leading security assessment standard. 

ADGM’s Registration Authority (RA) will work with Hacken to develop advanced security standards and on-chain monitoring solutions for ADGM’s DLT Foundations framework through a signed Memorandum of Understanding (MoU).

This collaboration positions both organizations at the forefront of fostering a secure and trusted blockchain ecosystem. Hamad Sayah Al Mazrouei, CEO of ADGMRA, said: “This partnership with Hacken underscores our commitment to setting global benchmarks in blockchain security and regulatory compliance. By leveraging AI and fostering a collaborative approach, we are pioneering a new model for SupTech that promotes transparency, security, and trust in the digital landscape.”

This partnership’s main objectives are to develop industry-leading security and compliance standards for blockchain projects in the ADGM jurisdiction. 

ADGM and Hacken will collaborate to create robust security and compliance standards. They will focus on implementing advanced monitoring solutions to identify and mitigate potential security risks within the DLT Foundations framework. Furthermore, the partnership will explore integrating AI-powered solutions to enhance blockchain security and monitoring capabilities.

Meanwhile, Dyma Budorin, Co-Founder and CEO of Hacken echoed this sentiment, saying: “We are honored to support ADGM in this groundbreaking initiative. Our proven track record in working with public sectors positions us well for this partnership. Together, we will set a new global standard for blockchain security and compliance.”

Boxing icon Mike Tyson has teamed up with the blockchain project Ready To Fight to revolutionize the boxing ecosystem. 

Ready To Fight (RTF) is set to list its own RTF token on four cryptocurrency exchanges, and Tyson has joined the platform as a brand ambassador. This strategic partnership was announced in a press release.

“In a significant endorsement of RTF’s mission to revolutionize the sport, boxing legend Mike Tyson has joined the platform as a brand ambassador. Tyson’s legendary status and global appeal are expected to significantly extend RTF’s reach, captivating and inspiring an international audience of boxing enthusiasts.” Ready To Fight team said in a statement. 

The RTF project is spearheaded by heavyweight champion Oleksandr Usyk and a team of advisors and ambassadors who are committed to revolutionizing the future of boxing. The project claims to be a blockchain-based social network that effortlessly links fighters of all levels with important industry stakeholders. 

Mike Tyson has been involved in the blockchain field before. In August 2021, the renowned boxer offered a collection of non-fungible tokens (NFTs) for sale on the OpenSea marketplace. Emerging digital artist Corey Van Lew created a limited edition NFT token in collaboration with Tyson. 

Furthermore, in April 2022, the former heavyweight champion listed his Mystery Box NFT collection on Binance’s NFT marketplace. By participating in the sale, fans of the boxer could acquire ownership of autographed Tyson merchandise, including gloves, shorts, T-shirts, warm-up gear, and other signed items.

The Blockchain for Good Alliance (BGA) was officially launched on April 15 during the Blockchain Life Dubai event.

The BGA is a collaborative network of organizations, projects, and individuals that have pledged to utilize blockchain technology to address global social, environmental, and economic challenges. The organization has partnered with blockchain-based organizations, including Bybit Web3, Solana Foundation, Aptos, Moledao, Harvard Blockchain Club, ICP.Hub UAE, American University of Sharjah (AUS), Coineasy, Libera, Edu3Labs, Alchemy Pay, Bu Zhi DAO, and XueDAO.

The BGA aims to function as an incubator for blockchain technology by providing networking opportunities that connect builders with mentors, resources, and events. The organization’s website describes its mission to solve global challenges through the application of blockchain technology and collaboration between its partners.

A spokesperson named Abbie, a representative of the Harvard Blockchain Club, said in a statement that: “We are thrilled to be a part of the Blockchain for Good Alliance (BGA) launch. Through our commitment to exploring university initiatives such as establishing a blockchain publication repository and supporting BGA’s impactful projects, we aim to foster a culture of innovation and collaboration within our academic community.”

Moledao, a blockchain social platform that collaborates with BGA, views the alliance as a means to achieve mass adoption. They talked about it in a video posted on YouTube on April 14. Recently, Italian researcher Silvia Semenzin studied the idea of “blockchain for good” at the GRASIA Research Group, Institute of Knowledge Technology, Complutense University of Madrid. She published her research article in Sage Journals.

Semenzin noted that many initiatives aimed at using blockchain technology for social good are either driven by profit motives or are ignorant of the financial disparities between different classes. The Blockchain for Good Alliance will function as a non-profit organization, which should help address concerns typically associated with tech-based projects aimed at doing good.

The Chinese government has recently launched a new public blockchain infrastructure platform, which is being led by Conflux Network.

This “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative” platform aims to provide an underlying public blockchain for cross-border applications.

According to a post by Conflux Network in April, the main focus of this project is to create a public blockchain infrastructure platform that can support cross-border cooperation projects along the Belt and Road Initiative. It will act as a foundation for developing applications that promote collaboration across borders.

Conflux Network is a multichain blockchain ecosystem that is operated by the Conflux Foundation, also known as the Shanghai Tree-Graph Blockchain Research Institute.

The government has initiated a blockchain initiative despite China’s unfavorable stance towards cryptocurrencies. Since 2017, the Chinese government has been tightening its grip on the crypto industry by shutting down Chinese Bitcoin exchanges.

Despite the ban on crypto trading, 33.3% of Chinese investors hold a considerable amount of stablecoins, placing them second to Vietnam, with 58.6%. According to a December 2023 report by Vietnamese venture capital firm Kyros Ventures, traders in mainland China have found ways to bypass the ban on trading. The majority of investors in the country choose to trade on centralized crypto exchanges.

In 2021, Beijing banned crypto trading and mining and prohibited offshore exchanges from offering their services in the country. Before the crypto crackdown intensified in 2021, China controlled two-thirds of the total Bitcoin mining hashing power. Amid calls for greater industry scrutiny, China plans to amend its Anti-Money Laundering (AML) regulations to include cryptocurrency-related transactions.