QFC brings blockchain firms together to spur DLT globally

QFC brings blockchain firms together to spur DLT globally

QFC ( Qatar Financial Center) has played an instrumental role in the recent collaboration and partnership of two DLT entities, The Hashgraph Group, a Swiss-based international business, venture capital and technology company, and SettleMint a blockchain transformation company. The partnership seeks to accelerate the impact of DLT ( Distributed Ledger Technologies) and digital assets across several industries.

As per QFC press release this partnerships aims to make DLT more accessible for organisations worldwide and drive their adoption on a global scale. In September 2024, the Lab launched its inaugural cohort, comprising 29 innovators, with the goal of providing them with a comprehensive ecosystem to develop, test, and commercialise cutting-edge solutions addressing industry needs and challenges through digital assets and distributed ledger technologies.

The Lab was established to foster collaboration among start-ups, businesses, and researchers to develop innovative solutions, products, and services in digital assets and distributed ledger technologies. The partnership between SettleMint and THA marks a milestone for the Lab, highlighting its potential to shape the industry and contribute significantly to the Qatari market.

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, commented on the partnership stating, “This partnership between SettleMint and The Hashgraph Group is a testament to the QFC Digital Assets Lab’s success in fostering collaboration and driving innovation. By facilitating partnerships like this, the Lab strengthens Qatar’s position as a leader in emerging technologies while contributing to a more dynamic and diversified economy.”

Kamal Youssefi, President, The Hashgraph Association (THA), added, “The cornerstone of our strategy at THA is strategic partnerships. Our ultimate aim is to empower a thriving community and build up a vibrant Web3 ecosystem that leverages Hedera platform capabilities. We are excited to partner with innovative organisations to co-create value and contribute towards building an empowered digital future. THA strongly believes in QFC’s vision, and it is strategy to institutionalise Digital Assets and establish Qatar as a leading regional hub for innovative web3 solutions covering Asset Tokenization, Digital Assets, DeFi and Onchain Finance, and we look forward to working with SettleMint and other ecosystem partners to contribute towards Qatar’s 2030 Digital strategic goals.”

Stefan Deiss, Founder and CEO of The Hashgraph Group, noted, “We’re thrilled to be both investing in and partnering with SettleMint as we work to integrate Hedera-powered applications for enterprises and organizations in Qatar and globally. The future of Web3 solutions will include the tokenization of Real-World Assets, and the combined forces of Hedera’s energy-efficient DLT platform with SettleMint and the futuristic ecosystem at QFC’s Digital Assets Lab will empower enterprises and governments towards a digital economy.

Matthew Van Niekerk, Chief Executive Officer, SettleMint, commented, “The QFC Digital Assets Lab is building a powerful ecosystem that fosters meaningful partnerships, lasting collaborations, and the next generation of digital asset solutions in the region and beyond. This investment and strategic partnership highlight the Lab’s effectiveness in bringing together industry-leading companies to drive impactful outcomes.”

UAE Phoenix Group expands its Bitcoin mining to USA

UAE Phoenix Group expands its Bitcoin mining to USA

UAE Phoenix Group PLC listed on the Abu Dhabi Securities Exchange (ADX: PHX), has launched its 50MW mining facility in North Dakota in the USA.

Fully operational, the site will contribute an impressive addition of more than 2.7 exahashes (EH) to Phoenix’s global hash rate. This is an initial step in expanding Phoenix Group’s UAE mining capabilities and investments in the United States.

“The investment and opening of the Dakota site is an important step in our strategy to grow our mining capacity globally and in the United States in 2025 and beyond. Building and energizing a 50MW site in less than 5 months is a testament to the extraordinary capability of our engineering and operations teams. This milestone reflects the speed, precision, and innovation that set Phoenix Group apart in the competitive Bitcoin mining industry,” said Munaf Ali, CEO of Phoenix Group.

Reza Nedjatian, Chief Executive Officer of Phoenix Group’s Global Mining Operations, added, “The United States has always been a key hub for our mining operations and the opening of the Dakota site is another major step in Phoenix Group expanding its investment in this key market.”

The North Dakota site represents a strategic milestone in Phoenix’s mission to scale its operations sustainably and efficiently. The new facility leverages advanced technologies and optimized designs to maximize energy efficiency and performance, reinforcing the company’s leadership in the fast-evolving blockchain space.

As the energization process continues, Phoenix remains committed to operational excellence and advancing the adoption of blockchain technology worldwide.

The group boasts a 765MW mining operation with more operations globally, and fuel growth through strategic collaborations and innovation. It also operates multiple mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments.
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Ethiopia accounts for 2.5 percent of Bitcoin mining hashrate

Ethiopia accounts for 2.5 percent of Bitcoin mining hashrate

Ethiopia and its local Bitcoin mining operations now account for 2.5% of global hashrate. Bitcoin miner Kassa stated, “Bitcoin miners in Ethiopia now command 2.5% of the global hash-rate. If trends continue, according to Ethiopian Electric Power (EEP), this will more than double within one year.”

Ethan Vera, co-founder and COO of Luxor Mining, had previously noted that the EEP reports local operations already consuming 600 MW of power. By year-end, that number could rise to 1 gigawatt, representing as much as 7% of the global Bitcoin network’s hashrate.

Ethiopia’s 2.5% contribution to the global Bitcoin hash rate would place it among the top five Bitcoin mining nations, joining established leaders like the United States, China, and the Czech Republic.

Companies like Bitmain-backed BitFuFu have acquired large mining operations in Ethiopia. In addition BIT Mining has also recently entered the Ethiopian market, acquiring a 51 MW Bitcoin mine and 17,869 mining rigs for $14.3 million.

Matthew Sigel, Head of Digital Assets Research at VanEck Investment firm speaking on CNBC SquakBox noted that three new BRIC members, Argentina, UAE, and Ethiopia had begun mining Bitcoin using government resources

In November 2024, Ethiopia Electric Power (EEP), a state-owned utility, signed power purchase agreements with 25 bitcoin mining companies. These bitcoin companies are using Ethiopia’s surplus renewable energy from The Grand Ethiopian Renaissance Dam (GERD), a 6,450 MW hydropower project nearing completion on the Blue Nile in Ethiopia, located about 30 km upstream of the border with Sudan.

The Dubai DMCC Crypto Center launches metaverse

The Dubai DMCC Crypto Center launches metaverse

The Dubai Multi Commodities Centre (DMCC) has unveiled the DMCC Crypto Centre Metaverse, a significant milestone within its globally recognized Web3 ecosystem.

Developed in partnership with Infinite Reality, the Metaverse offers users an immersive experience featuring interactive gamified environments. It also provides access to specialized service clinics addressing essential topics such as banking, compliance, and insurance, enabling participants to directly engage with the DMCC Crypto Centre team.

Belal Jassoma, Director of Ecosystems at DMCC, highlighted the global potential of the metaverse market, predicting it to exceed $3.1 trillion by 2030. “The launch of the DMCC Crypto Centre Metaverse underscores Dubai’s leadership in integrating blockchain and AI technologies, showcasing a real-world use case for next-generation innovation,” he said.

This initiative aligns seamlessly with the Dubai Metaverse Strategy, which aims to position the emirate among the world’s top 10 metaverse economies. By creating a digital twin of the DMCC Crypto Centre, the project supports Dubai’s ambition to become a global hub for immersive technologies and a leader in blockchain and AI advancements.

Syrian government is not exploring a bitcoin proposal

Syrian government is not exploring a bitcoin proposal

While some news outlet announced that the Syrian government was considering a bitcoin legislation, the Founder of Bitcoin21 Arabic noted that it was not the Syrian government but a group of crypto enthusiasts who were discussing this.

Bassem, the Founder of Bitcoin21Ar noted on twitter, “To clarify Syria’s Bitcoin policy proposal: Who wrote it, and is it legitimate? First, let’s address the misinformation circulating in crypto media: NO, the transitional government has neither approved nor considered this proposal, and we do not expect them to do so anytime soon. They likely have more pressing issues to address at this time.

He further explains that the proposal is not meant to circumvent international sanctions. He stated, “We believe that sanctions should be lifted URGENTLY through legal and political processes in accordance with international law.”

In a telegram group Bassem carried out a discussion on how one could introduce a constructive Bitcoin legislation to the Syrian people after a decade of severe humanitarian and financial distress. He adds, “The idea for the proposal was my own, and it was collaboratively drafted in Arabic by everyone. . We also had a small number of Bitcoiners who provided This is a grassroots movement driven by very bright and enthusiastic Bitcoin plebs.”

As part of this evolution, we renamed the group the “Syrian Center for Economic Research” or SCER and the initiative gained unexpected momentum when Dr. Saifedean Ammous who joined the discussions.

It’s important to clarify again that this is not a government-affiliated organization or funded by any entity.

To the people who are accusing us of being terrorists, CIA, or fill in the blank, can you please be less racist? Thanks!

The SCER is a volunteer-driven initiative that hopes to bring together Syrian engineers, academics, entrepreneurs, and visionaries to learn, disseminate knowledge, and foster communication and open dialogue on economics, technology, and money.

There is no physical headquarters. They communicate through social media channels like Telegram, X, and Nostr and encourage video and audio calls.

Joins us here: https://t.me/SyrianCER

Non Syrians are welcome too 🧡

UAE blockchain platform, Promeet for monetizing content raises $3.1 million

UAE blockchain platform, Promeet for monetizing content raises $3.1 million

UAE based Promeet, a Blockchain enabled platform designed to empower creators to monetize content, has raised $3.1M in pre-seed funding.

As per the press release, the investment will be used to accelerate product development and solidify Promeet’s position as a leading platform for content monetization. By combining videos, photos, meetings, and live streaming—with a blockchain-based transactional layer into a single platform, Promeet offers creators the ability to easily get paid and interact with their audience, all in one place.

Already live and operational, Promeet has onboarded thousands of creators, offering them a seamless, frictionless way to start monetizing their content immediately. By facilitating transactions via USDC on the Polygon network, Promeet ensures that creators are paid quickly, securely, and with lower fees compared to traditional platforms.

The investment was raised through a SAFE (Simple Agreement for Future Equity), positioning Promeet for rapid growth and enhancing its ability to help creators earn effortlessly.

Monetizing content is often challenging for creators due to platform fees, payment delays, monetization restrictions, and the need for diverse income streams. Promeet works to solve these problems head-on by offering:

Instant Payments: Creators gain immediate access to their earnings with no delays. Unlike traditional platforms, which can take weeks or months to process payments, Promeet uses USDC on the Polygon network, enabling quick, peer-to-peer payments between creators and their audience.
Low Fees: Many platforms take significant cuts, up to 50% but with Promeet, creators keep 90% of their earnings, ensuring they retain more of what they make. With no hidden costs, creators have greater control over their income.
No Restrictions: While other platforms impose heavy restrictions, Promeet offers greater freedom for creators to share content authentically. Creators can monetize videos, live streams, and meetings with fewer barriers, leading to more organic audience engagement.
Easy Onboarding: Getting started with Promeet is quick and simple. There are no complicated setups, subscription fees, or KYC requirements. Users automatically receive a wallet upon signing up and never have to worry about gas fees or understanding blockchain processes. With no need to provide ID documents or link a bank account, creators can start monetizing their content immediately.
Full Control Over Content: Creators can choose whether to publish content publicly or keep it private, offering complete flexibility in how they manage their content and income.
The platform is committed to staying closely connected with creators and fans, ensuring their voices shape the platform’s future.


CEO Jonathan Azeroual’s Vision stated, “Blockchain technology has enormous potential, but it’s still searching for the right problem to solve,” said Jonathan Azeroual, Founder and CEO of Promeet. “I’ve been in this space for 10 years, and now it’s time to bring Web3 to mainstream. At Promeet, we’re building products that people actually use, products that empower creators to monetize their content easily, without relying on empty promises or tokens. We’re here to solve real problems for creators, enabling them to earn quickly, keep more of their income, and have more control over their content.”

With the new funding, Promeet plans to expand its team, enhance platform features, and scale its user base. The company remains committed to enhancing user experience, increasing brand visibility, and providing creators with the tools they need to succeed in the digital economy. As the platform grows, it is anticipated that more creators will participate, fostering the adoption of Web3-based monetization across industries.