Category: Blockchain

Covestro receives ISCC PLUS certification for its Map Ta Phut production site in Thailand

Polycarbonate plastics and films with reduced carbon footprint

The Map Ta Phut site of Covestro in Thailand recently received ISCC PLUS certification, an internationally recognized system for biomass and bioenergy sustainability certification. This means the company can now offer its customers in the ASEAN region large volumes of the high-performance plastic polycarbonate, including compounds and polycarbonate films, produced with alternative raw materials in the same good quality as their fossil-based counterparts.

“We are very pleased that Map Ta Phut is another major Covestro production site to be certified according to ISCC PLUS,” says Timo Slawinski, Managing Director and Head of the site. “With this, we are continuing to drive forward the replacement of fossil raw materials with alternative precursors.” The company received its first shipment of the mass-balanced raw materials phenol and acetone from an Asian supplier in August, producing its first batch of biocircular ISCC PLUS-certified polycarbonate in Map Ta Phut very recently.

The certificate enables Covestro to supply a wide range of mass-balanced products such as Makrolon® RE plastics and Makrofol® films at the cross-segment site, which have a significantly lower carbon footprint than fossil-based products. The first-mentioned plastics are part of the CQ family of circular intelligent solutions from Covestro. With the new CQ concept, the company is highlighting the alternative raw material base in its products, giving a clear indication to customers looking for such products.

In the mass balance approach, for example, bio-based or recycled raw materials are fed in at an early stage of raw material extraction and mathematically assigned to the finished products. This saves fossil raw materials and reduces CO2 emissions, while the quality of the mass-balanced products remains identical compared to purely fossil-based ones. With the drop-in solution, customers can continue to use their proven formulations, equipment, processes and specifications. At the same time, Covestro supports them in meeting their sustainability goals.

In addition to Map Ta Phut, Covestro’s sites in Shanghai, Changhua, Leverkusen, Dormagen, Krefeld-Uerdingen, Antwerp and Filago have already been certified to the ISCC PLUS standard.

vivo announces Monsoon Care programme with 20% discount on spare parts

New Delhi, August 2022 – vivo, the innovative global smartphone brand today announced the launch of its ‘Monsoon Care’ programme- a comprehensive care plan for all vivo smartphone users in India. As part of this programme, vivo customers who have suffered liquid damage to their handsets will be able to avail a range of benefits, including, no labour charge and 20% discount on spare parts. 

The ‘Monsoon Care’ service will be valid for a month from Aug 16, 2022, to Sept 16, 2022. The offer is valid at all authorized vivo service centres.

Quote by Mr. Madhusudan Ekambaram, Co-Founder & CEO, KreditBee on RBI new digital lending guidelines

The issuance of RBI’s new norms is a crucial development in improving the digital lending regulation bid and is a welcome step towards ensuring fairness and transparency in the entire digital lending ecosystem. Some of the changes proposed by RBI include:

i. All loan disbursals and repayments would now be required to be undertaken only between the borrower’s bank accounts and the Regulated Entity (RE).

ii. All charges payable to the Loan Service Providers (LSP) in the credit intermediation process shall be paid directly by RE and not by the borrower, and all-inclusive cost of digital loans as an Annual Percentage Rate (APR) needs to be disclosed upfront by REs. This will result in more transparency of charges and rates of loans being taken by the customer.

iii. Tightened consumer data privacy with the lenders getting access to only some mobile applications as a one-time access in order to facilitate KYC process while mandating them to have distinctive mention of privacy policies on their website.

Legitimate players, like us, have already been adhering to these guidelines and would continue to refine the operations further to strengthen our existing transparent and fair practices and customer trust in the digital lending ecosystem to ensure a healthy and sustained growth of the sector.

TARC Limited Reports Consolidated Revenue Growth of 161% YoY & 68% QoQ

Delhi, August 2022: TARC Limited, a leading New Delhi based real estate developer, has reported an impressive revenue generation of Rs. 71.27 crores in the Q1 of the current financial year FY2022-23. The Company also reported a robust growth in EBIDTA in comparison to
previous periods and witnessed a quantum jump in consolidated Profit during the period.

With its recent transaction with Bain Capital, the Company has streamlined its financial obligations once and for all. This essentially provides for the Management to vigorously focus on projects only without diverting attention for financial planning. The Bain Capital transaction is one of the largest investments received in a real estate company in North India in recent times. It is pertinent to mention that the Company also completed two transactions with venerable foreign institutional investors namely, Blackstone and ESR in the past 12 months.

Commenting on the Company’s stellar performance, Amar Sarin, Managing Director & CEO, TARC Ltd., stated, “This growth is testimony of investors’ trust in our projects which offer world- class amenities supported by cutting-edge technologies. In order to offer more options to consumers, we are planning to launch new projects, which are in the pipeline at prime locations across Delhi and Gurgaon. We will partly utilise the fund raised from Bain Capital as well as revenues coming our way from existing projects to develop the upcoming projects.”

The Company is geared to launch its upcoming project TARC Tripundra located at Main Bijwasan Road, Pushpanjali Greens, New Delhi. The project has already garnered huge interest for pre- sales from discerning customers owing to the locational advantage of the project and its state-of-the-art offerings. The key driving factors behind the inclination of consumers are the seamless connectivity of the airport location, adequate greenery, and the availability of necessary social infrastructures such as schools and hospitals besides the numerous amenties
and facilities planned in the project.

The Company is also planning and developing a number of projects in New Delhi and Gurugram. With the new launches and exclusive offerings at the existing projects, the Company expects a remarkable rise in revenue generation and profits in the upcoming quarters. The unwavering trust of its customers in the Company’s offerings and the continuously thriving realty market in the country are factors that pave the way for TARC’s growth plans towards fruition

Is Greater Faridabad good for investment

Rohit Mohan, Senior Vice President, BPTP Group

Greater Faridabad or Neharpar is one of the most talked-about and trailblazing real estate corridors of Haryana that has diverse real estate projects like townships, plotted developments, and group housings. The area’s proximity to Delhi, Gurugram, and Greater Noida has majorly contributed to its attractiveness as a major investment hub.

The overall infrastructure development over the past few years in the region has also led to a population shift in Faridabad with the best world-class facilities and socio-educational infrastructure nearby like Mata Amrita Hospital, Fortis Hospital, Asian Hospital, Shiv Nadar School, Shri Ram School, DPS & expressways like F-N-G Expressway to cater to the daily conveniences of the end-users.

Recently, the real estate trend that has caught buyers’ attention and has been rocking Faridabad’s real estate spectrum are plotted developments. Plotted Developments have become hot-selling properties in city suburbs and peripheral regions. There is an availability of sufficient area to develop plots and secure-gated communities. Compared to constructed homes, plots offer investors and end users the option to design a house as per the homebuyers’ convenience.

Plotted Developments have emerged as the new name of convenience & luxury in Faridabad tapestry, which offer various high-end amenities like an Open Gym, Kids’ Play Area, Clubhouse, EV Charging points, etc. A significant number of home buyers are preferring to buy plotted developments due to low investment risks, price affordability, and the freedom to use them for multiple purposes. Plots are used for building vacation homes and luxury houses and also for commercial, office and retail purposes. Developers are also coming up with residential plotted developments to cater to the increasing demands of the buyers and capitalize on the trend.

Faridabad is a witness to a host of plotted developments as the demands for it have substantially increased. Buyers wanting to design and customise their homes as per their wishes choose plotted developments over constructed homes. Plotted Developments offer a sense of pleasurable peacefulness in the lap of nature and wishful community intermixing, something that is appealing to the masses.

Blockchain will revolutionize recruitment globally

By Sricharan C, Head of HR at WazirX.

When we think of  Blockchain Technology, we associate it with cryptocurrencies; we associate it with finance and mediums of exchange. That could not be farther from reality! Leading players across industries are all looking to leverage this technology. Blockchain has so far revolutionized the world of finance and is well on its way to revolutionizing several other sectors, including the process of recruitment!

So what is Blockchain?

As defined by the authors of Blockchain Revolution, Don and Alex Tapscott, Blockchain is “an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”

As of today, data is typically stored in the cloud – which businesses, as well as individuals use. The data stored in the cloud is typically centralized – hence vulnerable and can be easily tampered with. Data while being stored is not usually encrypted either – leaving it susceptible to hackers and scammers.

On the contrary, blockchain relies on a distributed ledger – a chain of records is stored on a large network of independent computers – across multiple locations – making it completely transparent and decentralized. This not only makes blockchain secure but is completely fraud-proof. The decentralized nature of blockchain makes it impossible to make a fraudulent entry since it would be immediately rejected!

What does this mean for the world of recruitment?

Verified Candidate Profiles:

Apart from profile mining, assessments and salary negotiations, a significant amount of time in the recruitment process is invested in verifying candidates. This is usually done by employing third parties who conduct detailed background checks on candidates – starting from getting in touch with academic institutes to verify credentials to reaching out to all previous employers to verify work experience. With the workforce becoming increasingly global, this process has become expensive and time-consuming.

According to a study conducted by CareerBuilder, almost 75% of recruiters have noticed lies on the resumes that they have received. This number fails to take into account the number of lies that go undetected.

Blockchain easily solves this by creating blockchain-backed cryptographic profiles. The information on these profiles can include academic credentials, employment records, criminal background checks and professional licenses and certifications.

Any information entered into the blockchain must be verified at the source. What does this mean? It means that the concerned educational institutions or employers would have to verify the information as it is being entered into the blockchain. At MIT, while the institute offers a digital version of their diplomas, students also download an app called “Blockcerts Wallet” that allows students to get a verifiable, tamper-proof version of their diploma that they can share with employers, schools, family, and friends.

A blockchain-backed profile also gives candidates more control over their information since it cannot be tampered with. Besides, information on these blockchain-backed profiles can be updated as candidates progress through their careers. Any certifications or professional courses they take can also be updated on their profile in real-time.

Well-built blockchain solutions for recruitment can make the long and tedious process of screening applications and candidatures simpler by filtering in only verified candidates and automatically screening candidates with relevant credentials and skill sets to a particular job. Blockchain has the ability to completely revolutionize and streamline recruitment while making the process much more efficient and economical.

Candidate Behavioral Profiles:

Organizations today spend between 200 – 500 USD per candidate while putting them through assessment centers that assess their technical prowess and behavioral characteristics. A blockchain-backed cryptographic profile has the potential to incorporate aspects like personality profiles and cognitive abilities obtained from online assessment tests. This would enable organizations to assess candidates better while taking into account their behavioral characteristics to ensure their cultural fit.

Reduction and streamlining of Onboarding processes: 

When a candidate is hired, a very long time is spent on processes that include but are not limited to entering candidate information into systems, generating contracts, employee identification and login credentials. These processes are often long and cumbersome since they include coordination between several departments.

Enter Smart Contracts! Smart contracts are programs stored on a blockchain that run when predetermined conditions are met. These contracts can automate the execution of an agreement so that all concerned parties can be certain of the outcome without any dependencies or loss of time. In addition, they can automate a workflow and trigger the next action when conditions are met.

Smart contracts can potentially automate a lot of these onboarding processes and reduce dependencies on back office functions.

This has significant implications for the gig economy that is on the rise! With a global workforce – a majority of it working on time-bound contracts, smart contracts can make the process of hiring, contracting and managing the workforce faster while reducing the dependencies on the backend and administrative tasks significantly.

Conclusion:

While the implications of blockchain technology on recruitment will be significant, most of these solutions are in conceptual and nascent stages. However, blockchain technology and its adoption is picking up pace quickly. Blockchain gives an entity complete control over its virtual identity. It is pushing us into an era of decentralization, transparency and truth.

How to pick your diamonds – 101 by Suraj Popley

Be it “Diamond of the season” as the Bridgertons call it or the diamonds sitting gracefully on your neckline, both remarkably shine alluring the beholders. Diamond as a gemstone offers remarkable prestige, commitment, and panache. Hence, jewellery connoisseurs mark their special moments with diamonds. Be it a gift for loved ones or adorning yourself with these opulent gemstones, diamond proves to be an exquisite choice. However, it is a proven fact that diamonds are a huge deal and a valuable investment.

While you make an investment or select a partner the ordeal is the same as selecting the perfect diamond of the season, and not get duped. Thanks to Mr. Suraj Popley of Popley Eternal, for his insights on selecting the top-quality diamonds. As suggested by Mr.Popley it is rather imperative to understand the basics of a diamond, ask for a diamond certification, and differentiate between a zirconia and a real diamond. While this is easier said than done. Focus on the four C’s of the diamonds cut, color, clarity, and carat.

Apart from the basics, there are other methods of not getting duped. The breath test and the sandpaper test. Diamonds are the best conductors of heat, hence if you breathe on to a real diamond, the fog your breath creates will disappear almost instantly from its surface. The sandpaper test will make it easier for you. Gently rubbing a piece of sandpaper on a real diamond will have no ill effects on it. However, the fake one will scratch easily. And lastly, buy your precious pieces from a reputable jewellery brand. Such as Popley Eternal. Popley Eternal a divine house of precious jewellery fashioned in esteemed quality and diamonds will never have you worried about getting duped. In fact the atelier strives to provide you with the best at the best investment amount.

While Liquid Public Crypto Markets Remain Volatile, Blockchain Valuation Creation Continues Apace

Midyear 2022 Findings from Blockchain Coinvestors’ Global Blockchain Unicorns Report Point to Opportunities for Disciplined Early and Mid Stage Venture Investors

• 28 new blockchain enterprise unicorns with substantial value accretion
• Fewer public crypto projects with market caps over $1bn as public markets fall

San Francisco, July 6th, 2022 – Blockchain Coinvestors, a leading blockchain early and mid stage venture fund of funds and direct investment platform with a combined portfolio of 400+ blockchain and crypto projects including approximately 60% of all blockchain unicorns, today announced its bi-annual Meet the Blockchain Unicorns report which includes the most comprehensive list of blockchain unicorns globally – including private blockchain enterprises and crypto projects whose valuations exceed $1 billion.

Through midyear 2022, there are 93 enterprise and 50 crypto project unicorns with 26 public blockchain companies. North America is leading the charge with 23 newly minted enterprise unicorns with four new unicorns emerging in Australasia, and one in Europe.

“Early stage venture capital has been the highest returning asset class over the last 25 years and blockchain appears to be the highest performing sector within it as witnessed by the large number of new blockchain unicorns, bringing the current total to 93” said Matthew C. Le Merle, Blockchain Coinvestors co-founder and Managing Partner.

Blockchain Coinvestors uses proprietary data sources and its own database of its combined portfolio resulting from its first three blockchain venture fund of funds (including their first fund of funds, ranked in the top decile for performance according to PitchBook) to track emerging unicorns. For the crypto project valuations, Blockchain Coinvestors relies upon CoinStats for its data.

“Unlike most asset classes, venture capital outperforms in the years following a downturn or recession, driven by lower valuations for investors. We believe it is an opportune time to gather dry powder for selectively investing into the best early and mid stage blockchain opportunities alongside the best blockchain investors,” said Alison Davis, Chairman and Managing Partner of Blockchain Coinvestors. 

Blockchain Coinvestors will present the full results of its midyear findings during the upcoming “Meet the Blockchain Unicorns” webinars on July 12, 2022 at 7:00am and 12:00pm PT.

Draper Goren Holm Backs NFTY Markets, Creator of SpiritPunks

NFTY Markets develops consumer packaged goods (CPG) brands in, and facilitates CPG producers to enter, the Web3 and blockchain space.

LOS ANGELES, May 24, 2022 – Draper Goren Holm announced today that NFTY Markets has become one of the firm’s newest portfolio companies. The SoCal Venture studio and fund, led by Tim Draper, Alon Goren, and Josef Holm, has invested in NFTY Markets, a blockchain company that develops in-house brands powered by Web3 and curates toolkits to onboard existing CPG brands into the Web3 space.

“NFTY Markets is ushering in a new era of Web3 adoption by building tools to bridge the physical and digital worlds,” said Draper Goren Holm founding partner Alon Goren, “We are beyond excited to have NFTY Markets join our family of companies and look forward to working alongside the team as they bring their vision to life.”

NFTY Markets has three focus areas: 1) developing and incubating its own in-house CPG brands, 2) partnering with niche and established brands to platform their products on NFTY’s marketplace, and 3) licensing its technology to facilitate physical goods producers to incorporate Web3 capabilities into their established product lines. Through the launch of its first in-house venture, SpiritPunks, NFTY Markets is showcasing how Web3 tools can be adopted and implemented by CPG brands to create new types of value for companies and consumers.

“With Draper Goren Holm’s support we will bridge the worlds of consumer packaged goods and Web3,” said Michael Evans, COO and Co-founder of NFTY Markets. “Through in-house brands and brand partnerships, we will demonstrate how blockchain can be adopted into new and existing product lines for CPG companies to create entirely new types of value.”

The SpiritPunks project is a first of its kind distilled spirits offering inspired by the blockchain community and enabled by blockchain technology. The project aims to foster a community of spirits enthusiasts by creating an exclusive rollout of SpiritPunks NFTs that provide the holder access to a luxury marketplace of cause-directed and premium products.

Products on the SpiritPunks marketplace are developed to create direct benefit for specific nonprofit partners. The project aims to redirect consumer attention and intention around consumption and do so by leveraging the innovation made possible by blockchain and NFTs. By platforming cause-directed premium physical products, partnered with nonprofits from inception, SpiritPunks intends to change the direction of consumption entirely. A significant portion of each initial sale on the platform goes to a partnered nonprofit as well as the majority of all secondary art sale royalties in perpetuity.