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Binance Labs makes first investment for this year, leading $1M seed round in HOPR

Binance Labs, the venture arm of the world’s largest digital currency exchange, has accomplished its first investment for this year, beginning with HOPR, a decentralized privacy company. Coupled with HOPR’s upcoming token offering, the funds raised aim to ensure the next-level data protection for the Web3 internet users. Binance Labs took the lead Following the […]

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Binance Labs, the venture arm of the world’s largest digital currency exchange, has accomplished its first investment for this year, beginning with HOPR, a decentralized privacy company. Coupled with HOPR’s upcoming token offering, the funds raised aim to ensure the next-level data protection for the Web3 internet users.

Binance Labs took the lead

Following the recent announcement, the $1 million funding round was led by Binance Labs for the data privacy company with an undisclosed amount. The funding round also saw participation from other venture companies, including the likes of Spark Digital Capital, Focus Labs, etc.

In addition to the investment round being led by Binance Labs, the data protection firm also plans its token sale. A significant portion of the funds garnered through these activities will purportedly be utilized to further enhance the safety of people’s data as they navigate through the internet. 

Basically, HOPR specializes in offering a secured framework, including relevant tools, particularly for theWeb3 ecosystem, to ensure that internet users have optimum control of their data.

Binance Labs backs Web3 data protection

While commenting on the development, the Strategy Official at Binance, Gin Chao, explained:

As Web 2.0 showed that companies and corporations are in control of a user’s information and data, the team at HOPR has shown us how their decentralized network achieves privacy guarantees on the metadata level and gives power back to the people.

The company hopes to employ more workforces, and introduce advanced data protection techniques, particularly an incentivized mixnet. This will protect against vulnerable metadata and will enable the public to run nodes so as to earn the soon-to-be offered HOPR tokens, while still ensuring the protection of Web3 internet users.

Blockchain

AllianceBlock Announces Decentralized Capital Market on Edgeware with Defi-NFT Approach

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[PR – Utrecht, The Netherlands, May 14, 2021]

AllianceBlock has announced it will launch a decentralized capital market on the Edgeware smart contract platform. The protocol brings unprecedented tooling to the Substrate-based Wasm contract palette, including NFT contract standards, Defi and DAO primitives to their peer-to-peer market, further empowering collectives and individuals to lend and fund across the network.

In the longer term, AllianceBlock is positioned to bridge traditional finance and defi through globally compliant platforms and tools – interoperating with the latest in digital organization and governance and their team’s background across both financial paradigms, including CEO Rachid Ajaja, previously at Barclays and the VINCI smart cities project:

Edgeware’s vision of building a community owned, decentralized platform with a focus on on-chain governance is perfectly in line with our own. We are seeking to build a new financial infrastructure that takes advantage of innovative technology, and Edgeware’s community treasury, facilities for DAOs, and bridging of digital and physical entities are important parts of linking DeFi with traditional finance.

We are excited to be integrating our products into Edgeware, and look forward to collaborating more moving forward.

Edgeware is currently the oldest and few of the mainnet Polkadot ecosystem smart contract platforms, enabling teams like AllianceBlock to fully test and deploy on variety of development and mainnet Substrate chains.The value alignment and technical foundation, including the opportunity to model best practices off the chain’s own governance, has made deployment on Edgeware a quick and effective launch.

Look forward to a launch AMA in the Edgeware and AllianceBlock community forums in the next few weeks.

About AllianceBlock

AllianceBlock is creating a protocol that will bridge DeFi and traditional finance (TradFi) to bring the benefits of both areas to one another and create the first decentralized capital market.

The AllianceBlock Protocol is designed to reflect how traditional finance would be built today with current technology. It incorporates new technology such as DeFi in a TradFi friendly manner, ultimately allowing us to facilitate services required by both spaces.

Long term, the decentralized blockchain-agnostic Layer 2 AllianceBlock Protocol will provide a secure and regulatory compliant gateway for billions of dollars present in TradFi to flow towards DeFi and enable DeFi platforms and protocols to be used by a much greater audience. In doing so, we will unlock DeFi for the world.

About Edgeware

Edgeware is a community-owned, fairly distributed, self-sustainable blockchain ecosystem built on Substrate with on-chain governance and a collectively managed treasury, enabling users to fund the chain’s development and teams to build projects.

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Source: https://cryptopotato.com/allianceblock-announces-decentralized-capital-market-on-edgeware-with-defi-nft-approach/

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Blockchain

AllianceBlock Announces Decentralized Capital Market on Edgeware with Defi-NFT Approach

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[PR – Utrecht, The Netherlands, May 14, 2021]

AllianceBlock has announced it will launch a decentralized capital market on the Edgeware smart contract platform. The protocol brings unprecedented tooling to the Substrate-based Wasm contract palette, including NFT contract standards, Defi and DAO primitives to their peer-to-peer market, further empowering collectives and individuals to lend and fund across the network.

In the longer term, AllianceBlock is positioned to bridge traditional finance and defi through globally compliant platforms and tools – interoperating with the latest in digital organization and governance and their team’s background across both financial paradigms, including CEO Rachid Ajaja, previously at Barclays and the VINCI smart cities project:

Edgeware’s vision of building a community owned, decentralized platform with a focus on on-chain governance is perfectly in line with our own. We are seeking to build a new financial infrastructure that takes advantage of innovative technology, and Edgeware’s community treasury, facilities for DAOs, and bridging of digital and physical entities are important parts of linking DeFi with traditional finance.

We are excited to be integrating our products into Edgeware, and look forward to collaborating more moving forward.

Edgeware is currently the oldest and few of the mainnet Polkadot ecosystem smart contract platforms, enabling teams like AllianceBlock to fully test and deploy on variety of development and mainnet Substrate chains.The value alignment and technical foundation, including the opportunity to model best practices off the chain’s own governance, has made deployment on Edgeware a quick and effective launch.

Look forward to a launch AMA in the Edgeware and AllianceBlock community forums in the next few weeks.

About AllianceBlock

AllianceBlock is creating a protocol that will bridge DeFi and traditional finance (TradFi) to bring the benefits of both areas to one another and create the first decentralized capital market.

The AllianceBlock Protocol is designed to reflect how traditional finance would be built today with current technology. It incorporates new technology such as DeFi in a TradFi friendly manner, ultimately allowing us to facilitate services required by both spaces.

Long term, the decentralized blockchain-agnostic Layer 2 AllianceBlock Protocol will provide a secure and regulatory compliant gateway for billions of dollars present in TradFi to flow towards DeFi and enable DeFi platforms and protocols to be used by a much greater audience. In doing so, we will unlock DeFi for the world.

About Edgeware

Edgeware is a community-owned, fairly distributed, self-sustainable blockchain ecosystem built on Substrate with on-chain governance and a collectively managed treasury, enabling users to fund the chain’s development and teams to build projects.

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Source: https://cryptopotato.com/allianceblock-announces-decentralized-capital-market-on-edgeware-with-defi-nft-approach/

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Square Has No Plans to Buy More Bitcoin, Says CFO

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This comes on the back of a large Bitcoin dip following the most recent news that came from Tesla and its decision to halt bitcoin payments for its products.

A Slowdown of Enthusiasm

The unbridled electric energy in the air surrounding Bitcoin briefly halted after major cryptocurrencies plunged over 20% shortly following Elon Musk’s announcement that Tesla would no longer accept BTC.

Square’s massive Bitcoin position – 8,027 bitcoins – took a temporary dive, especially in light of the company’s most recent purchase ($170m with a cost basis of over $51,200). Square is still up about $200m with BTC overall (their initial purchase was at a lower price). Still, this recent dip has likely provoked upper management into slowing the pace of their diversification into riskier assets.

Undercurrents of Anticipation

This news by itself, however, isn’t enough to stop the undoubted growth of interest in cryptocurrencies worldwide. In Q1 of 2021, Square reported a whopping $3.5B in Cash App revenue, plowing through previous highs, thanks to Bitcoin transactions. Quarterly earnings expectations were beaten by more than double what analysts targeted.

Square’s Bitcoin-related revenue is up 11x, and its CEO Jack Dorsey is fully behind the movement. Earlier this year, he stated that he believed Bitcoin is “the Internet’s native currency,” and experts expect to see companies’ growing support for cryptocurrencies continue over the next few months, despite yesterday’s roadblock.


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Source: https://cryptopotato.com/square-has-no-plans-to-buy-more-bitcoin-says-cfo/

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