Category: Blockchain

Blockchain

Xalts collaborates with Avalanche to accelerate Real World Asset tokenization adoption by Financial Institutions

Sep 17, 2024 by Rekha Nair 0 Comments

Singapore – 17 September 2024; Xalts announced a deeper collaboration with Avalanche to bring more enterprise-grade real-world asset tokenization solutions for institutions. This will provide out-of-the-box solutions to enable financial services, governments, and other enterprise developers looking to build digital asset platforms for implementing blockchain, tokenization, and smart contract applications for different use cases such as the tokenization of funds, securities, commodities and trade finance assets, digital currencies, and CDBCs.

Xalts works with financial services and businesses to provide connectivity by leveraging a modern technology stack, including APIs, Blockchains, and Orchestration layers. Its product suite includes solutions such as the RWA Cloud platform, which enables large institutions such as financial services and governments to quickly build complex solutions on blockchains.

RWA Cloud addresses challenges enterprises and regulators face while implementing blockchain, such as retaining complex rules, workflows, processes, and user compliances mandated by internal or regulatory governance. Enterprises can manage process complexity associated with events like issuance, servicing, or transfers by leveraging RWA Cloud’s Smart Workflow Core, an orchestration layer that connects with smart contract libraries and multiple off-chain systems.

With this collaboration, financial institutions can deploy custom blockchain networks that meet specific financial requirements and comply with local regulations using Avalanche’s L1 technology, orchestrate and automate their on-chain processes, tokenize digital assets and liabilities on the blockchain via smart workflows using Xalts’ RWA Cloud.

“Our collaboration with Xalts enables us to jointly offer RWA tokenization technology infrastructure and solutions to financial services institutions, including banks, asset managers, and fintechs alike”, said Morgan Krupetsky, Head of Institutions & Capital Markets at Ava Labs.

Xalts has recently joined the Qatar Financial Centre (QFC) Authority Digital Assets Lab to test and commercialize use cases in real-world asset tokenization. The collaboration comes at a time when global regulators have launched tokenization use cases, including the Hong Kong Monetary Authority (HKMA) which launched Project Ensemble in Mar 2024, a wholesale central bank digital currency (wCBDC) pilot with the aim to ultimately create an interoperable platform, Monetary Authority of Singapore (MAS) launching Project Guardian – a multi-year initiative for asset tokenization, and Qatar Financial Centre (QFC) introducing the QFC Digital Assets Framework.

“We are very excited to partner with Avalanche. This will make the development of blockchain and smart contract solutions much more accessible and accelerate enterprise use cases”, said Ashutosh Goel, Chief Executive Officer, Xalts.

“We have an exciting roadmap ahead of us with Xalts as we jointly enable financial institutions across markets in their RWA tokenization journey!”, said Devika Mittal, Regional Head at Ava Labs.

Blockchain

The Road to Post-Quantum Cryptography

Aug 21, 2024 by Mansi Praharaj 0 Comments #programmable quantum computer, #Quantum Computing

What does the future hold for quantum computing, and are we on the brink of a major breakthrough? Recent advancements by industry giants and startups suggest we’re closer than ever to realizing the potential of this transformative technology.

In 2019, researchers at Google built a programmable quantum computer that achieved quantum supremacy. That is, it performed a task that no traditional computer could perform in a reasonable amount of time. In this case, quantum computing researchers performed a test computation in about 200 seconds that would have taken a supercomputer using today’s best algorithm thousands of years to calculate.

However, the continued development of quantum computers faces several technical hurdles. Qubits, which are the basic building blocks of quantum computers, are extremely sensitive to outside interference. To really use quantum computers, researchers need better ways to correct the errors created by that interference.

“The field has seen significant progress recently, driven by improvements in qubit quality, error rates and scalability, alongside substantial investments from large tech companies and startups,” said IEEE Senior Member Kevin Curran. “A key challenge remains in error correction, with advancements here being potentially transformative. Additionally, the development of new quantum algorithms could significantly enhance the utility of quantum computers.”

Here, he discusses recent advances in quantum computing, what’s holding the technology back and the leading edge of post-quantum cybersecurity.

Can you discuss any major developments in quantum computing that have increased the accessibility of quantum computers?

“In recent years, quantum computing has made significant strides across several key areas. The availability of quantum computing through cloud services by major tech companies has democratized access, enabling more widespread research and development. There has been substantial growth in hybrid quantum-classical algorithms, which combine classical and quantum computing strengths to tackle complex problems.

“Researchers have also expanded the portfolio of quantum algorithms with potential exponential speed-ups over classical methods, finding applications in diverse sectors such as pharmaceuticals, finance and material sciences. These developments signal a shift towards more practical and impactful quantum computing applications soon.”

What is your view on the future of quantum computing and the likelihood of a near-term breakthrough?

“Predicting a near-term breakthrough in quantum computing is complex due to the interplay of technological advancements and theoretical innovations. While many experts suggest that practical, scalable quantum computers that consistently outperform classical systems may still be a few years away, there is optimism about achieving specific milestones soon. The next five to 10 years will likely be crucial for witnessing significant advancements in this area.”

Y2Q stands for years-to-quantum, a shorthand for the point at which quantum computers can crack current encryption algorithms. What’s your perspective on this milestone?

“It’s crucial because quantum computers could potentially decrypt data previously thought to be secure, affecting everything from government communications to private internet transactions. Those most at risk include governments, financial institutions, technology companies, healthcare organizations and anyone relying on secure internet use.”

What’s the status of post-quantum encryption algorithms?

“Quantum-resistant cybersecurity algorithms, developed to secure communications against the potential threats of quantum computers, are rooted in mathematical problems believed to withstand classical and quantum attacks. The ongoing standardization efforts by the National Institute of Standards and Technology (NIST), which began in 2016, are critical in evaluating these algorithms for security and practicality, enhancing confidence in their robustness.

“Besides the efforts by NIST to standardize post-quantum cryptography, there are several other emerging standards and algorithms in the field of quantum computing. These include the Internet Engineering Task Force and the European Telecommunications Standards Institute, which also focus on quantum-resistant cryptographic standards.”

How confident are you in these quantum-resistant algorithms?

“While these post-quantum cryptography systems are well-understood, they haven’t been tested as extensively as traditional cryptographic methods.

“As the cryptographic community continues to scrutinize and improve these algorithms, our confidence in them grows. However, this is a gradual process contingent on further research and adaptation to emerging threats. Therefore, while there is promising progress in the development of quantum-resistant algorithms, a cautious approach remains prudent as the field evolves.”

Blockchain

MAI Labs Launches STOEX: Transforming RWA Ownership

Jul 30, 2024 by Mansi Praharaj 0 Comments

MAI Labs Launches STOEX: Transforming RWA OwnershipNew Delhi, 30 July, 2024: MAI Labs, a global pioneer in deep tech innovation renowned for its advancements in immersive and regulatory technologies, today unveils its latest groundbreaking initiative: STOEX – S.M.A.R.T Token Exchange. STOEX represents a paradigm shift in the world of asset trading as a regulated, tokenized real-world asset exchange, powered by the Kalp digital public infrastructure, a sophisticated permissioned cross-chain ecosystem.

With projections indicating the tokenized asset market could surge to a staggering $29 trillion by 2030, there is an immense opportunity to harness this potential through blockchain technology. Recognizing the unprecedented possibilities in the Real-World Asset (RWA) segment, MAI Labs developed STOEX to unlock investment opportunities in diverse assets such as real estate, financial assets, commodities, and precious metals.

STOEX aims to create an inclusive financial ecosystem by fostering trust, enhancing market liquidity, and promoting sustainable economic growth. This platform is poised to serve as a catalyst for economic expansion in industries dealing with these niche asset classes. By democratizing access to traditionally illiquid investments, STOEX aims to redefine the landscape of global finance, by offering new avenues for portfolio diversification and wealth creation.

Speaking on the launch, Tapan Sangal, Founder of MAI Labs said, “STOEX is set to redefine the landscape of real-world asset exchanges. Our vision is to democratize investment in premium real-world assets by leveraging tokenization. This groundbreaking approach not only fractionalizes ownership but also empowers investors with unprecedented decision-making capabilities. By dismantling traditional barriers such as high entry costs and illiquidity, STOEX opens up prestigious real world asset classes to a broader investor base. Our platform sets a new benchmark for investor protection, governance, and transparency, aligning with global regulatory frameworks to ensure trust and compliance.”

STOEX operates within a robust regulatory framework, leveraging a carefully curated ecosystem of strategic partnerships. This network encompasses third-party banking services, approved trustees, verified escrow agents, and specialized agencies for comprehensive technical, legal, and financial due diligence. The platform has also aligned with authorized brokers, globally recognized rating and valuation agencies, and expert investment bankers to ensure the highest standards of integrity and professionalism.

“The Direct Control DAO feature embedded in our platform epitomizes our commitment to investor empowerment, enabling token holders to actively participate in asset management decisions through a secure, blockchain-based voting system. This fusion of cutting-edge technology with legal engineering creates a robust ecosystem that respects asset ownership rights while fostering innovation. We’re creating a future where transparency, accessibility, and active participation converge, driving economic inclusivity and transforming the financial sector. With STOEX, we’re not just changing how people invest in real-world; we’re revolutionizing the relationship between investors and their assets”, Tapan further added.

As a cutting-edge exchange, STOEX redefines accessibility and efficiency in real-world asset investment. It offers unparalleled liquidity with minimal entry barriers, 24/7 operations, and real-time settlement capabilities. The advanced order book management system, coupled with a global reach, delivers a seamless user experience. Importantly, STOEX utilizes fiat currency as the medium of exchange, renouncing cryptocurrencies to maintain stability and regulatory compliance.
Underpinning this ecosystem is the Kalp Distributed Ledger Technology (DLT), which enhances transparency and efficiency while ensuring bank-grade security for all transactions and data. This unique combination of regulatory compliance, strategic partnerships, and innovative technology positions STOEX at the forefront of the tokenized real-world asset revolution, setting new standards for investor protection, market integrity, and financial inclusion in the digital asset space.

Kapil Dev, Chief Business Officer, STOEX, said, “Over the last several years, the idea of potential liquidity for the real-world assets has been a big challenge. STOEX’s innovative ecosystem will empower investors to maximize the value of their tokenized assets. At the same time, STOEX, being permissioned blockchain, offers the opportunity to retail investors to get exposure to diverse asset classes at a low transaction cost and real-time settlement for the investors. Together, we aim to reshape the investment landscape and unlock new possibilities for industry players.”

STOEX marks a significant milestone in MAI Labs’ mission to bridge the digital and physical worlds. By leveraging digital identities and fiat transactions, it creates a seamless gateway for accessing tokenized real-world assets in the digital realm.

Blockchain

Jambo Expands to Solana with Tether to Bring Blockchain Mobile Technology to Emerging Markets

Jul 17, 2024 by Mansi Praharaj 0 Comments #Blockchain Mobile Technology, #blockchain-enabled financial and educational technologies, #CEO, #Jambo, #Jambo App, #JamboPhone, #largest web3 mobile infrastructure, #Local Solana Communities, #Paolo Arodino, #Solana, #Solana blockchain, #Tether

Lagos, July 17, 2024 – Today, Jambo, the largest web3 mobile infrastructure bringing emerging markets on-chain, announced that it’s expanding to the Solana blockchain along with Tether to offer blockchain-enabled financial and educational technologies that cater to emerging markets.

Central to this is the JamboPhone, a $99 web3 smartphone that has been powerful in onboarding all types of users on-chain in a mobile-first way. Combined with the Solana blockchain’s high throughput capabilities and Tether’s dominant stablecoin, USDT, access to web3 financial and educational products will be democratized to those who need them most in Southeast Asia, Africa, and Latin America.

Introducing the JamboPhone

Available in over 120 countries, the JamboPhone is targeted towards Gen Z consumers in emerging markets as their portal to the best digital products and opportunities globally. Users can engage with the global economy by utilizing the preloaded Jambo Ecosystem applications featuring DeFi, gaming, and web3 infrastructure applications. The JamboPhone aims to address some of the most challenging issues faced by emerging markets, such as a large unbanked population and limited access to smartphones. Users can purchase the JamboPhone with Solana Pay on JamboPhone.xyz.

The Jambo App: Empowering Users

The smartphone is equipped with the JamboApp, a comprehensive web3 platform that offers users a range of services including decentralized finance, gaming, and educational content, all designed with the emerging market user in mind. The JamboApp includes the JamboWallet, a non-custodial multichain wallet which includes support for Solana tokens and USDT. Jambo will be giving out rewards primarily in USDT, leveraging its broad acceptance and stability in emerging markets. Users will be able to complete quests sponsored by Jambo and Jambo ecosystem partners, ranging from educational initiatives to promotional tasks, with rewards now distributed primarily using SPL USDT. This initiative underscores Jambo, Solana, and Tether’s role as pioneers in bridging the digital divide, aiming to democratize access to digital financial tools and providing users with earning opportunities in emerging markets.

Leveraging Local Solana Communities

Additionally, Jambo will engage local Superteams to accelerate web3 adoption. Superteam is a global community of web3 builders who are passionate about Solana. Their mission is to help web3 talent learn, earn, and connect with the Solana ecosystem. These teams, composed of local experts and enthusiasts, will play a pivotal role in educating communities, fostering local development, and driving grassroots initiatives that ensure sustainable growth within the web3 ecosystem.

“Back when I was building earn.com in 2017, our vision was to build a product ‘where there’s a phone, there’s a job.’ Alice, James, and the Jambo team have realized that vision by developing web3 mobile infrastructure bringing financial access to emerging markets,” said Lily Liu, President of the Solana Foundation. “Jambo offers a gateway to web3 that is accessible to nearly anyone in the world, while Solana enables financial access for nearly anyone with an internet connection. Together, we are committed to making self-custody, financial opportunity, and educational resources accessible to millions.”

Why Emerging Markets

Emerging markets face their own unique set of economic challenges that Solana and Tether can address with their blockchain and stablecoin solutions. In emerging markets, the use of USDT (Tether) significantly surpasses that of other stablecoins, with over 34.2 million unique wallets utilizing USDT as of April 2024. This broad user base highlights the widespread trust and adoption of Tether in these regions. With Jambo’s game-changing smartphone, Solana’s fast transaction processing, low transaction fees, and Tether’s robust and widely-used stablecoin, users now have access to stablecoin and crypto payment rails, alternative banking access, and global earnings opportunities.

“We want to bring emerging markets on-chain,” said James Zhang, Co-founder of Jambo. “Bringing Jambo to Solana and Tether allows us to provide a comprehensive solution that addresses the unique needs of these regions.”

“Emerging markets stand out as promising grounds for financial inclusion. Their demand for tools like USDT fuels our dedication to shaping a brighter financial future for users in these regions.” said Paolo Arodino, CEO, Tether. “By providing affordable access to web3 technologies through the JamboPhone and leveraging the power of the Solana blockchain, Jambo is empowering users in these regions with the tools they need to participate in the global digital economy. The integration of SPL USDT as a reward mechanism further strengthens this initiative, offering users a stable and secure digital asset.”

Learn more about the latest from Jambo on X and purchase your JamboPhone at JamboPhone.xyz. Join the Jambo Community and lead web3 adoption with us on Telegram.

Blockchain

BitGo and Finery Markets Launch First Integrated Crypto Trading and Off-Exchange Settlement Solution

Jun 27, 2024 by Neel Achary 0 Comments
Prime brokers, OTC desks and exchanges can leverage Finery Market’s trading infrastructure with peace of mind knowing that counterparty assets are secured and automatically settled by BitGo. 
  • The partnership between BitGo and Finery Markets ensures that custody and settlement responsibilities rest exclusively on BitGo as the regulated, qualified custodian
  • The BitGo/Finery Markets model is prime broker agnostic, meaning any prime broker, OTC desk or exchange who wants to provide their clients with qualified custody services and automated settlement can now easily do so without having to manage settlement themselves
  • ‘Pool Masters’ and liquidity providers can bilaterally trade and settle on a single, trusted platform, streamlining operations and greatly reducing counterparty risk
Finery Markets, a global trading infrastructure provider for digital assets, partners with BitGo, the leading digital asset custodian, to bring regulated qualified custody and automated settlement to the Finery Markets trading network.
BitGo will secure assets in bankruptcy remote, qualified custody via BitGo Trust Company, Inc. (BitGo Trust) and use Go Network, its industry leading settlement solution, to clear and settle trades on Finery’s non-custodial platform. This model eliminates the burden placed on liquidity providers and prime brokers today to manage settlements on their own and take on counterparty risk.
BitGo will also onboard a host of primes to serve as their own ‘Pool Masters’ and leverage Finery’s turnkey trading infrastructure along with BitGo Trust’s custody and Go Network’s risk-mitigating settlement solution. By offering a single platform to manage trading and settlement, BitGo and Finery Markets have significantly reduced the operational burden that primes face today when onboarding with multiple OTC counterparties to access liquidity.
Konstantin Shulga, CEO and co-founder of Finery Markets said: “At the core of our partnership with BitGo is a commitment to innovation. We are incorporating best practices from traditional financial markets into the digital asset industry. By separating the trading and settlement layers and enabling them to work together smoothly, we’re speeding up settlements, drastically reducing counterparty risk, and unlocking capital for more productive uses.”
Matt Ballensweig, Managing Director at BitGo said: “This partnership with Finery Markets attempts to harness the power of BitGo’s regulated custody and settlement platform, Go Network, to support leading crypto prime brokers that face operational friction in the current environment. To date, primes and OTC desks would need to bilaterally settle transactions daily with both their liquidity providers and their takers – now, they can offload that responsibility to BitGo Trust and focus on broadening connectivity and providing credit.”
Michael Rabkin, Global Head of Business Development at DV Chain added: 
“This partnership exemplifies the maturation of the digital asset space, mirroring concepts well-established in traditional finance. By integrating centrally cleared networks into global offerings, it helps reduce counterparty risks and enhance efficiency. This move strengthens our position as a leading provider of institutional crypto liquidity and demonstrates our commitment to advancing the infrastructure of the digital asset market.”
The BitGo/Finery partnership marks a significant milestone in OTC trading. By addressing some of the key challenges in the space, such as operational inefficiencies and counterparty risk, BitGo and Finery Markets are empowering trading participants, fostering greater confidence and paving the way for broader digital asset adoption. Learn more about how this partnership can transform your trading business here.
Blockchain

How to Sell Bitcoin for Cash – Trading Crypto Like a Pro

Dec 6, 2023 by Neel Achary 0 Comments #how to sell Bitcoin for cash

Would you like to how to sell Bitcoin for cash? If yes, then you are not alone. Owning Bitcoin, either from a previous purchase or after earning the crypto, can be exciting, but selling at the right time to make a profit requires the right strategy to sell at a profit. However, many Bitcoin owners may sell because they have an emergency that requires liquidity.

Regardless, it is prudent to know how to sell Bitcoin for cash, particularly by choosing the right platform that suits your needs. That said, let us look at the process of selling your crypto like a pro.

Choose a Reliable Crypto Exchange

Most cryptocurrencies, including Bitcoin (BTC), are sold on cryptocurrency exchanges that facilitate trading on BTC blockchain. They have different approaches to their operations, and if you are learning how to sell Bitcoin for cash, you should know how each works.

  • Bitcoin ATM – These are physical automated crypto machines connected to an online system to facilitate the buying and selling of Bitcoin and other crypto. To sell Bitcoin for cash, you need to know your Bitcoin wallet before visiting the booth. They dispense cash after a successful transaction.
  • Physical Bitcoin office – This is also a physical crypto-selling outlet with personnel to help you know how to sell Bitcoin for cash. If you want quick cash, just visit a cryptocurrency outlet with your Bitcoin wallet details. 
  • Online crypto exchange – You can also sell crypto for cash on almost any online crypto exchange from a computer or phone. However, you can only access your money through a bank account or mobile money app.

Create a Crypto Account

Most platforms request users to open a trading account on their platform. This makes it possible to deposit Bitcoin on the account and trade. This allows you to verify your personal information and trade securely. If you don’t know how to sell Bitcoin for cash using an online account, take your time to learn before attempting it. You can also consult with a professional to better understand the process. 

Assess the Bitcoin Rates

Any crypto exchange platform allows traders to assess the trading rates, do their conversions, and do any other calculations before trading. They also help you factor in the trading commission to know the least amount of cash you will get from your Bitcoin. Anyone who is interested in knowing how to sell Bitcoin for cash like a pro should not ignore this helpful step.

Do the Exchange

This far, you already know how to sell Bitcoin for cash. But the process is not complete until you trade. After all the preparations, all you need to do is hit the sell button, and the trade will be done within seconds. After all, most crypto exchanges are now instant. 

Conclusion

After a successful transaction, you can access your cash immediately when using physical Bitcoin exchanges. However, if you are using popular online exchanges, you will need to withdraw the cash from the account you created to your bank account. With this, then we can say that you now know how to sell Bitcoin for cash like a pro. 

Blockchain

SendQuick Named Winner of the Coveted Top InfoSec Innovator Awards for 2023

Nov 1, 2023 by Sujata Muguda 0 Comments

op InfoSec Innovator[Singapore, 1 November 2023] – SendQuick Pte Ltd is proud to announce we have been named the winner of the following award from Cyber Defense Magazine (CDM), the industry’s leading electronic information security magazine:

Most Innovative in Authentication (Multi, Single, or Two-Factor)

“We are thrilled to be a member of this coveted group of winners in the 11th year of Cyber Defense Awards, during CyberDefenseCon, where the Top Global CISOs exclusively gather by invitation only. We knew the competition would be tough and with top judges who are leading infosec experts from around the globe, we couldn’t be more pleased,” said Mr JS Wong of SendQuick Pte Ltd.

SendQuick won in this category with its SendQuick Conexa, which comes with various multi-factor authentication options for all its users: Email OTP, Soft Token, Hard Token, Push OTP, Push Authentication, Digital ID login with Singpass or Yoti, FIDO2-capable Yubikey and passwordless biometric authentication.

“SendQuick embodies three major features we judges look for with the potential to become winners: understanding tomorrow’s threats, today, providing a cost-effective solution and innovating in unexpected ways that can help mitigate cyber risk and get one step ahead of the next breach,” said Gary S. Miliefsky, Publisher of Cyber Defense Magazine.

Blockchain

Blockchain App Factory and bitsCrunch join forces to launch white label NFT marketplace solutions for global businesses

Apr 13, 2023 by Rekha Nair 0 Comments

Blockchain App Factory x bitsCrunch

New Delhi, April 13, 2023: Blockchain app factory, India’s leading enterprise blockchain technology solutions provider today announced a strategic partnership with bitsCrunch, a leading force in Forensic and AI-powered NFT analytics. The symbiotic association between the two leading brands will leverage the combined power of their technologies to empower users with forensics and AI-powered real-time analytics. The strategic alliance is aimed at making NFT trading a highly informed decision for users across the globe.

The collaboration will support major blockchain networks like Ethereum, Avalanche, and Polygon. The alliance of forensic and AI-powered analytic tools and easy-to-deploy blockchain solutions will create an innovative platform for a transparent NFT trading experience for NFTpreneurs across the globe. bitsCrunch, one of the leading NFT-based data-driven companies, has made a name in the competitive market with its ‘anti-fraud’ tools that help users combat wash trades, NFT price inflation, and the production of counterfeits.

Commenting on the development Mahendran Sundaram, Director of Sales & Partnership, Blockchain app factory, said “We are very elated to announce this exciting partnership with bitsCrunch. Our combined expertise in Web3 technology will assist us in delivering NFT business solutions focusing on authenticity and analytics to our global clientele.”

Commenting on the development Vijay Pravin, Founder, and CEO at bitsCrunch, added, “At bitsCrunch, we are committed to empowering our users to participate in a transparent NFT economy and our collaboration is a major step towards achieving that goal. Our partnership with the Blockchain app factory is a part of our continued efforts to create an environment of trust and transparency within the NFT industry. We look forward to working closely with Blockchain App Factory and we are hopeful of witnessing the positive of our symbiotic association on the blockchain/NFT ecosystem.”

The majority of the brands in India and around the globe are eager to take their first step toward Web3 as they see a lot of potential for marketing and brand engagement through NFTs. The lack of a professional marketplace solution is the biggest hurdle in NFT adoption and collaboration between both companies will fill this gap.

Blockchain

BCrypt Announces Web 3.0 WEEK 2023 Conference To Take Place In India

Mar 30, 2023 by Rekha Nair 0 Comments

New Delhi, India – BCrypt is thrilled to announce the much-awaited WEB 3.0 WEEK 2023 conference, which will be held as a hybrid event from April 3rd to 9th in India and will be streamed globally. This week-long event is expected to host 200+ speakers, 7,500+ attendees, 50+ investors and VCs, and 50+ projects.

The BCrypt India WEB 3.0 Week 2023 conference is the perfect opportunity for those interested in Web 3.0, NFTs, Blockchain, Crypto, Metaverse, and DeFi to immerse themselves in the latest innovations, solutions, and investment opportunities. Hosted at the luxurious Radisson Blu Kaushambi Delhi NCR, the conference will feature over 120 learning sessions, six hackathons, and 20+ expert panels.

The expert panels will offer attendees an opportunity to interact with some of the most prominent names in the industry such as Ian Scarffe, Blockchain Advisor And Consultant, Kishor M, Founder & CEO of Crowdfundjunction, Mahesh Chand, CEO of Mindcracker Inc, and many others.

One of the most exciting features of the conference is the Startup Pitch, where attendees have an excellent opportunity to get a 15-min 1-on-1 with pre-vetted investors and pitch their projects to VCs, private offices, and angel investors. Vice versa, investors can obtain in-depth business ideas from pioneers and key stakeholders and explore investing potential in multinational technology businesses.
With the future of the digital world fast approaching, BCrypt is leading the community with a highly-anticipated dynamic gathering.

About BCrypt :

BCrypt is a hybrid conference that streams live from around the world with limited in-person tickets. BCrypt events in the US and India have brought together developers, investors, enthusiasts, and enterprise tech professionals to gain insights into the latest innovations, opportunities, and solutions in the industry.

Organized by Global Tech Conferences (GTC), the largest tech conference organizer in the world, BCrypt is part of a portfolio of over 100 tech conferences with over 520,000 attendees, 759 speakers, and 840 sessions. With its unparalleled reach, industry relationships, and focus on continuous innovation, GTC presents the best and most comprehensive subject matter conferences.

Blockchain

WazirX Heralds Crypto Security With Its 4th Edition Transparency Report

Mar 29, 2023 by Rekha Nair 0 Comments

WazirX Logo

Mumbai, March  2023: In its continued effort to provide transparency to users and safeguard their assets, WazirX has launched the fourth edition of its Transparency Report. The developments covered in the report occurred between October 2022 and March 2023.

The exchange maintained its record of 100% compliance rate for all requests received from Law Enforcement Agencies (LEA). The requests were received against a total of $390M worth of transactions during this period. WazirX also proactively identified accounts with suspicious activities with the help of third party platforms, and shared the information with the Financial Investigation Unit (FIU-IND). The average turnaround time to respond to requests was 25 mins for the first cut response.

“The transparency report is a testament to our commitment of enabling a secure and reliable Crypto ecosystem for our users. We focussed our efforts on making our platform more user friendly and provided a robust customer service for our users to connect with for any concerns. We also kept up our ongoing efforts of collaborating with Law Enforcement Agencies to make Crypto free of any fraudulent activities, and usher in an environment of trust.” Rajagopal Menon, Vice President, WazirX

During this period, WazirX focussed heavily on customer feedback, and updating and introducing features based on the same.

Because of this, WazirX implemented the following during October to March:

● Increased ticket handling adeptness.

● Enabled bots to handle straightforward deposit tickets (i.e., in an automated fashion), to increase efficiency.

● Transitioning from Voice Support to Chat Support for a proactive resolution process

● Increased the processing speed of Standard Deposit Refunds

● Launched ‘Price Suggestion’ feature for users based on order book instead of trade history in spot and P2P markets

● WazirX now supports D/W via the BSC chain. Currently 20+ tokens have BSC support, more will be enabled.

● All operations related to sub-accounts can now be managed via SAPIs

● Users were able to deposit INR to WazirX through the INR deposit feature which was resumed

● Launched the ‘Nominee feature’ which enables users to add their loved ones as nominee

Some of the Indian and Foreign Law Enforcement Agencies that WazirX has worked with during this period are: the National Investigation Agency (NIA), Enforcement Directorate, State Cyber Crime Cells, Odisha Vigilance Department, Special Task Force, Bhopal Police, WB Police, Maharashtra Police, Crime Branch, Toronto Police Department, Police Department Dortmund, New York County District Attorney, Burlington Police, California Police Department, Florida Police, etc.

WazirX conducted a training session on blockchain and virtual digital assets for Odisha Vigilance Dept. Officers at State Vigilance Academy, Bhubaneswar in January. Due to the new features and technology updates to scale customer support, the platform engaged in over 3,96,126 user interactions during this period.

WazirX announced the publishing of its Proof of Reserves to promote full transparency in India’s crypto ecosystem. It made its wallet addresses, list of exchanges, and an independent Proof of Reserves report available to the public, and provided reassurance to customers that their funds and virtual digital assets remain safe, with enough liquidity to serve the customers’ withdrawal requests.

WazirX has continued its association with TRM Labs and Chainalysis to sustain and scale up its efforts of security. As a member of the Bharat Web3 Association, WazirX participated in regulatory developments and discussions, collaborated with stakeholders, and continued to focus on awareness initiatives. WazirX was also vocal about its insights on developments in the regulatory environment of Crypto in the country.