Cryptocurrency

Mandala Chain: Real World Utility & Adoption, Starting in IndonesiaMandala Chain, a Polkadot parachain that seamlessly integrates government and enterprise applications with public and retail sectors, has released details on their initial partnerships and use cases. The inaugural use case, IDCHAIN, is in collaboration with the entity overseeing Indonesia’s top-level .id web domain. This initiative aims to introduce over 10 million new wallets, significantly impacting digital identification in Indonesia.IDCHAIN: Pioneering Digital Identity SolutionIDCHAIN, built on top of Mandala Chain, is designed to create secure digital identity infrastructure on the .id domain, allowing users to store identity documents and interact with government and enterprise portals. The implications of this are profound. Indonesia’s second-level domains .go.id (government) and .co.id (business and banking) currently have over 100M active unique users. IDCHAIN turns these second-level domains into web3-enabled portals that prompt users to create their digital ID when interacting. Applications include banking, healthcare, insurance, and academic institutions – revolutionizing multiple economic sectors across SE Asia. IDCHAIN forms a crucial data infrastructure layer for Mandala Chain that will support a host of new use cases. Several pilot projects have already been secured that will leverage the technology stack for other DApps and L2s to launch on Mandala Chain. These include:Banking: Mandala Chain is collaborating with over 90 banks to place data and transactions on-chain, initially adding 40,000 new wallets.Healthcare: Partnering with 20+ hospitals to secure medical data and insurance on-chain, projected to add 900,000 new wallets to start.Gold Tokenization: Working with a major Indonesian gold corp with $500M in gold reserves to explore tokenization options, onboarding approximately 300,000 new users.Infrastructure: MOU signed with the largest Indonesian data infrastructure providers to explore multiple blockchain applications.Product Authenticity: Collaborating with BKRAF to create authentication certificates for artist IP and products, a TAM of over 80 million products.Awakening Southeast Asia’s Sleeping GiantMandala Chain has elected to focus on Indonesia as the initial market for rolling out their initial use cases. With the fourth largest population globally, Indonesia is projected to have the fourth largest GDP by 2040 behind only China, India, and the USA. The potential for growth here is nearly unparalleled.The Indonesian government has prioritized blockchain as a core infrastructure in its Digital Vision 2045 framework. With an average age of under 30 years, Indonesia has a young, tech-savvy population likely to adopt blockchain technology. Mandala Chain is positioned to be at the forefront of this explosion in blockchain adoption.About Mandala ChainMandala Chain secured a Polkadot Parachain in April 2024 with over $1.2M bonded by the public at the time of auction. Testnet will be live in June, and a token generation event is planned for September 2024, strategically timed for when Mandala Chain will be a co-title sponsor at Coinfest, one of SE Asia’s largest Blockchain conferences.ContactCo-FounderMathew PaulMandala [email protected] article was originally published on Chainwire More

The cryptocurrency has risen to $716 U.S., topping its record high of $686 U.S., which it held for three years. Binance Coin has risen 12.5% in the last 24 hours.The market capitalization of Binance Coin now exceeds $100 billion U.S., making it the fourth largest cryptocurrency.The new all-time high comes as Binance founder and former chief executive officer (CEO), Changpeng Zhao, begins a four-month prison sentence in California for violating America’s Bank Secrecy Act (BSA).CZ, as Changpeng Zhao is commonly known, pled guilty in April to charges of money laundering and operating an illegal exchange within the U.S.The rise of Binance Coin also comes as the broader cryptocurrency market rallies after experiencing a slowdown in late March and throughout April.The price of Bitcoin (CRYPTO: BTC), the largest crypto by market capitalization, is back above $71,000 U.S. after falling below $60,000 U.S. in April.Some analysts say they now expect Bitcoin’s price to retest new all-time highs in coming weeks.Binance is privately held. Its stock does not trade on a public exchange.This content was originally published by Yolowire.com More

The innovative AI Learning Ecosystem will be unveiled at the highly anticipated Crypto Valley Conference 2024. This groundbreaking event, hosted by the Crypto Valley Association, will take place on June 6-7, 2024, in Zug, Switzerland, and will also be available online at cryptovalleyconference.com.Dr. Wulf Kaal, a leading expert in the fields of Artificial Intelligence, reputation systems and blockchain technology, will present the AI Learning Ecosystem, which is designed to address the critical challenge faced by AI developers and researchers in acquiring accurate, diverse, and reliable data for training their AI models. While AI compute and modeling solutions continue to advance at a rapid pace, the promise of smarter, more accurate and fairer AI cannot be fulfilled without significant advances in training data production. By leveraging the power of decentralization, ALE ensures that the data used for training AI systems is of the highest quality, enabling the development of more advanced, efficient, and reliable AI applications.The platform’s unique reputation algorithm evaluates the quality and reliability of data provided by its global micro-task workforce, rewarding high-quality contributions and penalizing low-quality submissions. This ensures that the data used for training AI models is of the highest quality, while also incentivizing the micro-task workforce to provide accurate and reliable data.In addition to its data quality benefits, the AI Learning Ecosystem also offers significant cost savings for AI developers. By leveraging the decentralized nature of the platform, ALE is able to reduce the costs associated with data collection and validation, passing these savings on to its users.About AI Learning EcosystemThe AI Learning Ecosystem (ALE) aims to provide the human engine that powers AI’s future and humanity’s progress. ALE is a web3 community project that facilitates the collaboration between companies and individuals for AI data labeling tasks. By removing barriers-to-entry, reducing duplication and intermediation, and optimizing dataset creator incentives, ALE powers the efficient and scalable creation of high-quality, diverse datasets for AI learning.Users can learn more about AI Learning Ecosystem at https://ale.networkFor media inquiries or to request an interview with Dr. Wulf Kaal, please contact Tamara Wasserman via [email protected] of MarketingTamara WassermanAI Learning Ecosystem [email protected] article was originally published on Chainwire More

Solv Protocol, the leading DeFi platform providing liquidity and yield opportunities across major assets, has announced a landmark integration with Ethena. This partnership represents a significant step in bringing robust yield-earning opportunities to Bitcoin-based assets, which have historically lagged behind Ethereum and other EVM-compatible chains in this regard.Through the partnership, Solv Protocol will launch the ‘SolvBTC Yield Vault – Ethena’ in its yield market, enabling users to deposit SolvBTC and earn yields from Ethena’s strategies while maintaining exposure to Bitcoin. Yields will be distributed in Bitcoin, which generates returns through delta-neutral arbitrage, along with sats incentive from Ethena. Vault depositors can also continue to earn Solv Points, providing them with multiple sources of earnings.The SolvBTC Yield Vault – Ethena’ represents the first of many collaborations planned by Solv Protocol to introduce fresh yield sources and strategies to the expanding SolvBTC ecosystem.Backed by prominent investors like Blockchain Capital, Binance Labs, and Laser Digital, Solv Protocol has successfully achieved many significant milestones, boasting a total value locked (TVL) of over $1.1 billion, ranking it in the top 32 protocols on DefiLlama across all chains. Over 15,000 BTC has been put to work earning yield on Solv, equivalent to over $1 billion at today’s prices.Meanwhile, Ethena’s TVL stands at $2.75 billion. Ethena is described as a next-generation DeFi protocol that enhances yield optimization and simplifies the DeFi experience.The platform is built for yield farmers, liquidity farmers, and all DeFi users looking to make the most of their capital.About Solv Protocol:Solv Protocol is a revolutionary yield aggregation and liquidity platform that tokenizes and consolidates high-quality yields from various sources. At the core of Solv’s offering is the creation of “Liquid Yield Tokens,” which unlock new earning opportunities across the blockchain ecosystem.The flagship product, SolvBTC, empowers users to seamlessly participate in the growing “BTCFi” space, serving as the key to unlocking Bitcoin-powered DeFi on every chain.Website | dApp | X | Telegram | Discord | LinkedIn | GitHub ContactEthean [email protected] article was originally published on Chainwire More

Zand Bank PJSC, the digital bank licensed by the Central Bank of the UAE, and MANTRA, an RWA-focused Layer 1 blockchain, have signed a Memorandum of Understanding (MOU) to streamline the process of real-world asset tokenization, including the identification, listing and distribution of RWAs.The collaboration between these two entities will also focus on developing frameworks to support tokenization and distribution of RWA, in compliance with the Virtual Asset Regulatory Authority of Dubai (VARA). The frameworks aim to provide clear guidelines for the tokenization of RWAs, ensuring the process adheres to relevant compliance standards, investor protection measures, and regulatory requirements. In doing so, the collaboration seeks to foster trust, confidence, and widespread adoption of RWA tokenization across the UAE.Digital is our DNA. Zand aims to revolutionize the finance world with innovation, AI, Blockchain technology and Client-centric solutions that bridge TradFi and DeFi, empowering our UAE and global Corporate, Institution and Wealth clients to thrive in the evolving digital economy. For more information, visit www.zand.ae For media queries:Mays TalibHead of [email protected] MANTRAMANTRA is a security-first RWA Layer 1 Blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Website | X | LinkedIn | Telegram | Medium | InstagramContactMarketing LeadChristoph [email protected] article was originally published on Chainwire More

Margex, a cryptocurrency trading platform, is excited to announce a $5 million airdrop of Bome (BOME) tokens.Margex is offering users the chance to earn a share of a $5 million Bome (BOME) memecoin airdrop. Users with the highest trading volumes between June 5 and June 17, 2024, will have the opportunity to win part of this $5 million Bome (BOME) airdrop.Bome (BOME), also known as Book of Meme, is a cryptocurrency memecoin inspired by the desire to revolutionize meme culture in the blockchain space. It aims to add real utility to non-fungible tokens (NFT).Terms & Condition Of Bome (BOME) Airdrop Claim:The Bome (BOME) memecoin airdrop will be awarded to Margex users who actively participate above the required trading volume between June 5 and June 17, 2024:Trading volume:$100,000 – $10 in BOME tokens$250,000 – $20 in BOME tokens $500,000 – $30 in BOME tokens$1M – $50 in BOME in tokens$5M – $250 in BOME tokens$10M – $500 in BOME tokens$25M – $1,500 in BOME tokens$50M – $3,000 in BOME tokens$100M – $5,000 in BOME tokensAll trading volume will be calculated at the end of the competition, users with trading volume over the above thresholds can win a corresponding sum of Bome (BOME) tokens. These tokens will be airdropped to users with high trading volume on the Margex platform and claimed instantly.Margex’s exclusive offer of Bome (BOME) airdrop shows a keen interest in its global fan base and in building a strong community of traders worldwide. Additionally, Margex has spent $3 million re-designing its platform, enabling a zero-fee converter for easy swapping of cryptocurrencies and diversification. Users also have access to its standout automated copy trading platform to replicate trades of professional traders. Margex plans to unveil its ultra-modern wallet, providing users with the ability to have full custody and keep crypto assets safe while enjoying better experience trading on the Margex platform. Users of all types can potentially earn a return on their equity by replicating the trades of professional traders with no experience required, while skilled traders can potentially earn income by allowing other users to copy successful strategies. With a minimum deposit of $10, traders can access all of Margex’s copy trading functionality, as it remains the most user-friendly platform in the crypto industry. Users can follow Margex on Facebook (NASDAQ:META), Twitter, Telegram, Discord, and YouTube, or join the Margex teamContactHead of CommunicationsAlsu [email protected] article was originally published on Chainwire More

This trend also buoyed broader crypto prices, as capital flows into the space picked up over the past month. The launch of spot Bitcoin ETFs in Australia also pointed to more capital inflows in the near-term.A decline in the dollar this week also aided crypto markets. Bitcoin rose 3% in the past 24 hours to $70,986.9 by 09:00 ET (13:00 GMT).The world’s biggest cryptocurrency broke out of a $60,000 to $70,000 trading range seen since mid-March, and was now trading about $3,000 away from a new record high. A mix of profit-taking, concerns over high interest rates and cooling optimism over Bitcoin ETFs in recent months had kept Bitcoin in a trading range after the token surged to record highs in early-March.But interest in crypto now appeared to be picking up, especially with the prospect of lower interest rates this year.Risk-heavy assets such as crypto usually benefit from lower interest rates, given that increased liquidity makes for more speculative trading. Broader altcoin prices also advanced on Wednesday, as weak U.S. economic data spruced up expectations of eventual interest rate cuts by the Federal Reserve.World no. 2 token Ether climbed 1.5%, while SOL, XRP and ADA rose between 0.9% and 5%. Among meme tokens, SHIB surged 7.3%, while DOGE added 2.3%. Expectations of a rate cut in September rose after softer-than-expected job openings data on Tuesday.The reading was preceded by weak purchasing managers index data, as well as a downward revision in U.S. gross domestic product for the first quarter.But while the readings ramped up bets on a September rate cut, focus this week was still on upcoming nonfarm payrolls data for more definitive cues on the labor market and interest rates.U.S.-listed spot bitcoin ETFs saw substantial inflows of more than $880 million on Tuesday, driven primarily by Fidelity, according to provisional data released on Wednesday.Fidelity’s FBTC ETF saw the largest inflows at $378 million, followed by BlackRock’s IBIT with $270 million, and Grayscale’s GBTC with $28 million. This marked the best inflow day since March and the second-highest overall since the launch of 11 bitcoin ETFs in January.According to a Bloomberg analyst, BTC ETFs have accumulated $3.3 billion over the past four weeks, pushing their year-to-date net inflows past $15 billion. More

Go! SmartChain AI, a pioneering force in blockchain technology specializing in real-world asset (RWA) tokenization, engagement services, and digital-to-physical asset integration, has announced its use of Google (NASDAQ:GOOGL) Cloud’s purpose-built and scalable AI infrastructure to transform how digital and real-life engagements are recognized, rewarded, and tokenized across various sectors.Go! SmartChain AI is renowned for its innovative approach to integrating tokenization with real-world applications, offering solutions that bridge the gap between digital currencies and tangible assets. By leveraging Google Cloud’s powerful infrastructure, analytics, and AI tools, including Google Compute Engine, Google Kubernetes Engine (GKE), Vertex (NASDAQ:VRTX) AI, and CloudSQL, Go! SmartChain AI will enhance its ability to offer scalable, secure, and efficient tokenization services.Go! SmartChain AI will benefit from Google Cloud’s advanced computing capabilities to support large-scale, data-driven blockchain projects. These capabilities are essential for developing sophisticated models that accurately represent real-world assets on the blockchain, from real estate to commodities, thus making them more accessible and liquid.The goal for Go! SmartChain AI is to simplify the tokenization process for its users, allowing for more transparent and democratic access to asset ownership and investment. Features like daily rewards, leaderboards, and the recognition of both digital and real-life achievements are set to become more robust and user-friendly, fostering a more engaged and active community.Additionally, Go! SmartChain AI plans to expand its offerings to include more personalized and community-focused engagement services built on Google Cloud. This will enhance user experiences and provide new ways for individuals and businesses to interact with and benefit from tokenized assets. About Go! SmartChain AIGo! SmartChain AI is a leading blockchain platform specializing in the tokenization of real-world assets, aiming to make asset investment and management more accessible and efficient through innovative blockchain solutions.ContactGo! PR [email protected] article was originally published on Chainwire More