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Oman inaugurates first crypto mining data center in Salalah worth $348 million

Oman inaugurates first crypto mining data center in Salalah worth $348 million

As part of the strategy to build  crypto mining datacentres in Oman, the first phase of Asyad Group crypto mining center was launched in the Free zone in Salalah.

Built and managed by Exahertz, a subsidiary of Afaq Advance Technologies firm, the first phase was inaguarated during a ceremony attended by top Omani governmental officials. The ceremony was held under the auspices of Eng. Said Hamoud Al Ma’awali, Minister of Transport, Communications and Information Technology. It was attended by HH Sayyid Marwan Turki Al Said, Governor of Dhofar.

The ceremony included the inauguration of a pilot facility for the first phase of the project on the centre for data processing and hosting of cryptocurrency mining.

During the event the second phase of the project was also launched.

Al Ma’awali stated, “The inauguration of the first phase of the project reflects the ministry’s keenness on promoting digital investment and localizing advanced technologies. He added that the company in charge of the project is expected to achieve a quarter of envisaged volume of production before the end of 2023.

Dr. Ali Mohammed Tabook, CEO of Salalah Free Zone, underscored the significance of laying down the foundation stone for the Exahertz Blockchain Data Centre at an investment value of $348 million on an area of 312,000 square metres.

According to Sam Ferdos, CEO of Moonwalk Systems and Strategic Partner of Exahertz International, a wider network of blockchain-based data centres in planned in the Sultanate of Oman, starting with a pilot in Salalah.


Ferdos stated to Observer media, “The pilot is already online with 11 megawatts of power and over 2,000 machines. By October, capacity will be ramped up to have up to 15,000 machines online, with development fast-tracked to cover three locations in Salalah and one in Al Jabal Al Akhdar in Al Dakhiliyah Governorate.”

Prior to this announcement, Oman Ministry of Transport, Communications, and IT in partnership with Green Data City (GDC) the next generation data blockchain ecosystem, launched the first licensed sustainable crypto mining datacenter in Oman, and the GCC.  The delegation witnessed the first Bitcoin officially mined in Oman using immersive cooling technology which will reduce electricity consumption.

Under this license, industrial mining companies can now register directly with GDC Mining and operate within the development.

In addition Oman Investment Authority (OIA) took part in a $350mn equity round in Crusoe Energy Systems. The US firm helps oil and gas producers cut flaring by using stranded natural gas to power cryptocurrency mining. Crusoe systems set up operations in Oman as well.

DIFC Innovation Hub launches subsidized licenses for Web3, AI, and DLT technology companies

DIFC Innovation Hub launches subsidized licenses for Web3, AI, and DLT technology companies

The Dubai AI and Web 3.0 Campus, situated in Dubai International Financia Centre, announced that it will be issuing artificial intelligence (AI) and Web3 licenses supporting activities ranging from Distributed Ledger Technology Services (DLT), specialised Artificial Intelligence Research & consultancies, IT infrastructure builders, Technology Research and Development and Public Networking Services.

Licenses will be issued by Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, which is currently home to an established ecosystem of tech enablers and start-ups at the DIFC Innovation Hub.

The Dubai AI and Web 3.0 Campus is a dedicated campus for AI and Web3 innovation and will provide state-of-the-art physical and digital infrastructure within the DIFC Innovation One new premises, including R&D facilities, accelerator programmes and collaborative workspaces, to attract, build and scale firms in the region. 

The campus was launched earlier this year and is supported by Dubai’s industry-leading regulatory regime aligned with the emirate’s vision of becoming a global leader in AI and Web3. This initiative is designed to bring in $300 million in funds and create more than 3,000 jobs in the next five years.

The campus will also increase accessibility and participation in Web3 development, backed by a collection of underlying technologies such as blockchain, AI, internet of things and the metaverse. Virtual assets owned in Web3 decentralised infrastructures represented about 40 per cent of the virtual-asset global economy in 2021, according to a report by BCG, and the transaction value of virtual assets is said to range between USD150 billion and USD300 billion by 2025. 

Mohammad Alblooshi, Chief Executive Officer of the DIFC Innovation Hub, said: “We are thrilled to announce that we are now granting innovative AI and Web3 companies licenses out of DIFC. The campus will foster a world-class nurturing environment that enables business growth and development. We are confident that by granting these licenses, we will attract more global talent and investment to the region and create a culture of collaboration and innovation. This is a notable milestone for the Dubai AI and Web3 Campus and will strengthen Dubai’s position as the business destination of choice for technology-focused companies and attract more world class talent and diversified investors to the region.”

Edelcoin Founder: The Future of Stablecoins is for those backed by real-world assets not fiat currencies

Edelcoin Founder: The Future of Stablecoins is for those backed by real-world assets not fiat currencies

Given the focus in the past months on the topic of stablecoins, and with the launch of Paypal’s stablecoin pegged to the U.S. dollar, centered around discussions on how stablecoins will fair in the future, it is very interesting to see Edelcoin’ s launch of a stablecoin, not backed by the dollar or eyuan but backed by real world assets!

Paypal in its press release for example stated, fully-backed, regulated stablecoins have the potential to transform payments in web3 and digitally native environments. Today the stablecoin market is a $120 billion according to data from TradingView yet it is expected to grow to $2.8 trillion in the next according to broker Bernstein research report released this month.

Yet stablecoins face challenges include regulatory uncertainty, technical vulnerabilities, market fluctuations, and liquidity issues. Here is how Edelcoin comes in. It is a stable payment token potentially inversely correlated to inflationary fiat currencies. According to its creators as a payment token decoupled from monetary policies and fiat currencies, Edelcoin serves as an effective hedge against inflation. Edelcoin is backed by real-world assets.

The Edelcoin payment token, issued out of Switzerland is backed by a basket of pre-existing precious and base metals. The Edelcoin basket is structured to be less volatile than single asset-backed tokens, providing a stable or low volatile store of value, detached from inflationary fiat currencies, independent from monetary policies. The Edelcoin token is issued as ERC-20 Token on Ethereum blockchain followed by additional EVM compatible chains and traded on centralized and crypto exchanges (secondary market).

Each Edelcoin has an excess reserve of backing metals, in total corresponding to 125% of the actual metals embodied by each Edelcoin. To learn more and understand this new concept of stablecoins, LaraontheBlock interviewed Edelcoin’s Founder Andreas Wiebe to learn more about the benefits of Edelcoin how stablecoins backed by dollar will falter, and their interest in expanding into the MENA region.

  

1. What is Edelcoin and why should a stablecoin backed by real assets be created? What are these global assets?

From my perspective, the only stablecoins that are truly stable are those backed by tangible resources like precious metals. Other underlying assets (such as other currencies, real estate, etc.) do not offer long-term security. Currently, Edelcoin is the only one globally backed by tangible resources like precious metals. Throughout history, precious metals have always been considered a form of security.

2. How does PayPal’s release of a USD-backed stablecoin contribute to the growth of the stablecoin market, and how does this fit into your plans for Edelcoin?

Anything backed by the dollar will already suffer significant losses in the upcoming year. We are already witnessing the global decline of the dollar. Now, the BRICS countries are introducing their own currencies, dealing a death blow to the dollar. The dollar has already lost its value. A 95% absolute decline! Worldwide, major countries are trying to sell off the dollar and exchange it for precious metals or other currencies.

3. What is Edelcoin linked to in terms of precious metals? Who owns it? Who stores it for you?

Edelcoin is tied to a basket of precious and industrial metals, providing absolute security. The precious metals are stored in vaults in Europe and Switzerland. These assets belong to our partners, who have collectively deposited them with us as the issuer.

4. How can Edelcoin users benefit?

First and foremost, I would recommend everyone to invest 10-20% of their fiat holdings into Edelcoin, thereby diversifying their overall portfolio. Additionally, the market anticipates a rise in precious metal prices, which will lead to a stable value appreciation of Edelcoin.

5. How is Edelcoin regulated?

Edelcoin is a Swiss company and has been accepted and reviewed as a payment stablecoin by the Swiss Financial Market Supervisory Authority (FINMA). Swiss regulation is widely recognized as extremely secure and trustworthy worldwide.

6. Do you have plans to expand into the MENA and GCC regions, and how?

Absolutely! There is already a blueprint in multiple directions: We are working to integrate Edelcoin into the financial landscape of the MENA and GCC regions, including trading platforms, as well as invest in the economies of the entire MENA and GCC regions.

7. Where and when will Edelcoins be traded?

At launch, we already have six exchanges: XT.com, Probit, BitForex, Blocktrade, LBank, and MEXC. Edelcoin is tradable on XT from August 14.

8. How can Edelcoin be used as a form of payment, given that precious metal prices are not stable?

Precious metals, backing up each EDLC are industrial metals and looking into historical perspective, these metals show an upward trend. More information on backing metals are here: https://edelcoin.com/transparency/

Edelcoin is accepted as a digital currency and can be spent in businesses that accept cryptocurrencies, much like Bitcoin. Additionally, we are working on installing ATM machines in several countries, enabling easy deposit and withdrawal of fiat currencies for enhanced flexibility.

9. Can users exchange their coins for the actual precious metals they are linked to?

Of couse! On the Edelcoin website, there is a “Boutique” section  where anyone can exchange their Edelcoins for silver and gold coins – to my knowledge, no one else offers this!

10. How do you envision the future of stablecoins and crypto payments, and how can businesses, governments, and organizations benefit from them?

In my view, there will be a future return to currencies backed by precious metals. A stable currency spells success and security for any business engaged in buying and selling. Such certainty can only be provided by a currency that is 100% backed. Pension funds and trading companies dealing with resources like oil, gas, and other commodities will find a solution and use the stability of Edelcoin.

11. Any other news or updates that Edelcoin would like to share?

In the next three months, we will be installing the first ATMs in Europe and Asia. Contracts with currency exchanges have already been finalized. We are open to further partnership inquiries. Please reach us  at partner@edelcoin.com

Blockchain UAE Trade Connect hires International expansion Officer for GCC and MENA region

Blockchain UAE Trade Connect hires International expansion Officer for GCC and MENA region

In a recent LinkedIn post, Zul Javaid, CEO of UAE Trade Connect, the UAE’s first trade finance platform to combat fraud, announced that they had hired Wissam Massud to lead their international expansion.

As per the post, Massud will define market-entry strategies as UAE Trade Connect widens its horizons to GCC, other Middle East, Africa countries.

In the post, Javaid states, “We know that UTC’s unique #blockchain technology addresses a real-life pain for banks and tradefinance lending everywhere, so we fully expect to be knocking on lots of countries’ doors in the coming year.”

Prior to this announcement, In May 2023 Zul Javaid coming back fro a recent participation at Global Trade Review conference in KSA had noted that UAE Trade  Connect was interested in offering its solutions to the Saudi Arabian banking sector.

As per Javaid, “The Kingdom of Saudi Arabia is a robust banking market, and we are very keen to bring our unique blockchain and AI based engine into the country to help banks de risk their trade finance lending.”

UAE Trade Connect currently has 11 UAE banks among its members and has surpassed $27 million in transactions identifying interbank duplicate financing and preventing fraud attempts.

Oman Easy Coins becomes first registered VASP entity with Capital Markets Authority

Oman Easy Coins becomes first registered VASP entity with Capital Markets Authority

While the Oman Capital Markets Authority awaits feedback for its virtual assets framework consultation paper, it has approved registry of Oman’s Easy Coins, a non custodial crypto provider, as the first VASP in the country.

Easy Coins has been operating in Oman for over two years. In December 2022 Easy Coins launched its trial of Tether USDT on the Tron Blockchain. Accordingly Easy Coin users in Oman could purchase TRC20 USDT.

Prior to that The Oman Water and Waste Water Services Company ( OWWSC), member of Nama Group, trialed its stablecoin linked to the Oman Riyal. The company signed an MOU with Oman based Digital Digits, the creators of Easy coins and Connected Chains to trial “ Hasalah” a stablecoin Wallet.

Easy Coins was launched in Oman in June 2021, as a non custodial crypto Brokerage platform, The platform is powered by Quantoz Blockchain Technology for financial services, and running on Nexus from connectedChains and supported by ThawaniPay.

Given that Easy Coins was already self regulating and adhering to CMA’s FATF KYC nad AML requirements, they were considered the first to be registered as a VASP seeking full license in Oman.

Dr. Khalid M.W. Tahhan, Co-Founder, Easy Coins ME stated, “We at Easy Coins believe that innovation from society will always be ahead of any regulator in any industry and nation. Thats why for vision 2040’s primary innovation pillar to be properly realized, it is essential that innovation from society should not be slowed down or hindered till regulators catch up, but rather it is essential for innovators to innovate and regulators to catch up with them rapidly. We commend the capital markets for their rapid response and acclimatization towards innovations in virtual assets and believe with such adaptable regulators, this industry will have a healthy place in Oman to flourish.”

Speaking to LaraontheBlock Tahhan explained, ” Registration is stage one which means we were cleared for KYC, AML, CDD requirements, full licensing is the next stage and will happen next year. Today we are allowed to operate because our risk measures are covered.” 

HH Sayyid Azzan Bin Qais Al Said Co-Founder of Easy Coins added “ Easy Coins has been in operations for two years and has been self regulating its operations since its launch. Hence when CMA initiated its registration process for Virtual Asset Service Providers, we were able to instantly meet CMA’s and FATF’s KYC/AML requirements.“

Abu Dhabi Islamic Bank utilizes Microsoft Azure for Blockchain, AI and Data warehouse

Abu Dhabi Islamic Bank utilizes Microsoft Azure for Blockchain, AI and Data warehouse

The UAE Abu Dhabi Islamic Bank, recently announced its migration of high percentage of its application and workloads to the Azure Cloud utilising various cloud computing services such as Blockchain, AI, and Data warehouse.

ADIB has selected Cloud4C to work with them on this transformation project. Cloud4C is an Azure expert specialised in advanced cloud-managed services. They were chosen because of their broad and deep portfolio of cloud services, overall commitment to security excellence, and strong financial services experience.

Commenting on the migration to the Cloud, Ashley Veasey, Group Chief Information Officer at ADIB, said: “ADIB has been at the forefront of digital transformation and continues to invest in re-architecting its technology to be more innovative and responsive to customer needs. We migrated to the cloud in recognition of the need to create an environment that is optimised for rapid changes and that will help in rolling out our digitisation strategy to better cater to the constantly evolving needs of customers. With this migration, ADIB is now able to deliver new applications rapidly, while adhering to the highest standards of security.”

Excited about the partnership and successful migration, Rakesh Reddy, Regional Director, Cloud4C MEA, said: “ADIB’s commitment to migrate to Azure cloud is a reflection of their strategy to provide the best customer experience and on being a leader in innovation. We are excited that ADIB has worked with us and benefited from our expertise to support them in this project. This is the largest single-phase migration in the region involving hundreds of core applications and thousands of servers. Post a thorough assessment of the existing landscape, a tailored Azure cloud migration blueprint was chalked out by Cloud4C’s Azure team. Once completed, the implementation was performed fail-proof, with dedicated Azure advanced networking, server migration, application migration, DR setup, and support services. Today, ADIB banks on data-driven business decisions leveraging tools and consulting from experienced cloud and domain experts.”

In the past ADIB Bank has been a strong proponent for technology and Blockchain. Abu Dhabi Islamic Bank (ADIB) became the 10th bank to join Blockchain trade finance platform UAE Trade Connect (UTC), developed by e& enterprise, formerly Etisalat Digital. 

Dubai’s Department of Economy teams up with VARA to integrate virtual asset service offering to UAE market

Dubai’s Department of Economy teams up with VARA to integrate virtual asset service offering to UAE market

The Dubai Department of Economy and Tourism and the Virtual Assets regulatory Authority have signed an MOU to unify VASP ( virtual asset service provider) offering in the city.

The two entities will collaborate to offer a synchronised VA market assurance across the Emirate of Dubai – spanning [Public/Marketplace] Customer Care + Complaints; [Business] On-Site Inspection + Enforcement; [Business] VASP Registration + Licensing; [G2G + G2B + G2C] Education-Training-Knowledge Sharing.

As per the MOU, both parties agree to pool their complementary capabilities to lay robust foundations that will aid Dubai’s GDP contribution to the expanding global New Economy portfolio, reinforcing the city’s reputation as an attractive, innovative, and secure global hub for Virtual Asset Service Providers (VASPs), operators, and customers.

The MoU’s scope further strengthens VARA’s commitment to achieving full transparency and market conduct adherence across VASPs licensed to operate in Dubai, so that the reputation and credibility of the UAE as the preferred hub for the global sector are automatically established.

VASPs will benefit from seamless workflow processes between both parties with DET adding VARA activities to its system for virtual assets licence issuance. DET will undertake robust inspections and support VARA with in-situ enforcements including deploying penalties such as suspensions or revocations in cases of proven negligence or non-compliance with VARA rules, in addition to Business as Usual application renewals for VASPs that meet VARA’s requirements in full. VARA will be included on DET’s E-Permit system, which will enable one-touch point approvals on VA events and both parties will actively collaborate on awareness campaigns for VARA product and licensing updates, as well as data sharing protocols and legacy onboarding.

In keeping with Dubai Government’s commitment to improving business and market service delivery, this partnership between VARA and DET will also seek to leverage the Dubai Corporation for Consumers Protections & Fair Trade (DCCPFT) department at DET by upgrading it with specialist VA know-how from VARA, thereby optimising government resources and provide a transparent, seamless customer experience.

Both parties will also collaborate on marketing campaigns designed to raise general awareness towards consumer protection and developments in the virtual assets sector including communicating consumer protection information and advice. DET, in co-ordination with VARA, will also publish relevant notices and warnings, including penalty notices and consumer protection advisories, on its website and the DCCPFT website.

The doubtful nature of Islamic Coin and the Haqq Blockchain network and Association

The doubtful nature of Islamic Coin and the Haqq Blockchain network and Association

For almost a year now, as a blockchain and crypto blogger I have been reading about the Haqq Blockchain network through their press releases, and this has raised doubts about the entity and its activities. 

First doubt came with  the announcement of the large investment they claim to have raised. First it was $200 million dollars raised in August 2022 in a private sale where none of the HNWI investors were mentioned. Then almost a year later in July 2023, Haqq Blockchain/Islamic Coin announced another $200 million investment, this time stating it was from ABO Digital, a subsidiary of multi-family office Alpha Blue Ocean Group.

Looking closer at this announcement of the $200 million from ABO Digital, the information states, “The latest partnership will entail introducing Islamic Coin to the ABO network of investors and helping the team structure innovative Shariah-compliant financial products that could be used in the digital asset space to raise alternative funding. The deal provides access to a maximum of $200 million as and when required and ensures Islamic Coin has a long and stable runway.”

So the investment is available as and when required and is part of a Shariah compliant financial products offering. In the announcement, ABO Digital CEO Amine Naedjai commented, “ABO Digital is thrilled to collaborate with Islamic Coin as an alternative finance provider. This ambitious project, supported by a stellar team, is revolutionizing the Shariah-compliant market by introducing digitization. We are honored to have been selected as a partner.”

So it is an investment or a partnership to launch a product?

But what is HAQQ Blockchain? It is an EVM-equivalent chain, based on Cosmos SDK. The creators state that its Islamic Coin is a Shariah-compliant, ethics-first Islamic Coin.  They also state that the Haqq Blockchain is supervised by the HAQQ Association a Swiss based (non-profit) association funded via donations.

As for their partnership announcements they also have a lot of grandeur words and PR but nothing really practical on the ground. In April 2023, they published a press release announcing  what they called a “Significant Partnership for the Global Islamic Market” with London based DDCAP Group. In a closer look it is not a partnership yet, or even an alliance. It is an MOU (Memorandum of Understanding) to explore the “potential opportunities of working together”. Till now August 2023 nothing further on this front has been announced.

Then on August 10th 2023, Islamic Coin Haqq Blockchain announced what they call four significant MOUs with what they call are leading private and government affiliated services in the UAE in immigration, medical wellness and travel industries.

Looking closer at these 4 entities the significance of the MOUs fade. The first entity is MB, Speciality Medical Center, with their website showcasing exactly three doctors. As for 24 Seven Government transactions Center for immigration services, the company doesn’t even have a website and its twitter page has 74 followers!

Still two to go, the IV Wellness Lounge Clinic, is a boutique beauty clinic, and finally Middle East Holiday no information could be found on it!

So in Haqq Blockchain latest press release on these four MOUs where none of the partners are even quoted, the press release states, “MBM Specialty Medical Center, 24 Seven Government Transactions Center, IV Wellness Lounge Clinic and Middle East Holiday, in total serving millions of customers all over the world every year, have joined the Islamic Coin – Haqq partnership network.”

First look at the wording, these 4 entities serve millions of customers all over the world!!! Second they have joined Islamic Coin! It is an MOU when did MOUs become partnerships?

As for the quote in the release, “I am incredibly pleased and honored to be working together with our four incredible new partners. Today, we have brought Islamic Coin to the industries that form the core of everyone’s consumption patterns – from travel to medical care – and we look forward to continuing on the path to adoption, in the Muslim world and beyond,” commented Islamic Coin founder Mohammed AlKaff Al Hashmi.

But let us not stop just there, on reading the white paper, there are no financials, no segmentation of tokens, and no roadmap information.

Finally on the Haqq Network website it showcases 15 partners in its ecosystem of those only five are live! Yet Haqq network states on its website that it has 520,060 mainnet accounts with 10,000 transactions in last 24 hours.

Haqq Blockchain has stated that it will launch its Islamic Coin (ISLM) on the 1st of September 2023 on centralized and decentralized exchanges.

So be ready….. or Not!

Gayo Aviation accepts crypto payments using UAE based HAYVN Pay

Gayo Aviation accepts crypto payments using UAE based HAYVN Pay

Swedish and UAE based Gayo aviation, a luxury travel company that offers aircraft management, consulting services, aircraft purchase and sales and flight deck services is now offering crypto payments utilizing UAE HAYVN Pay.

HAYVN Pay is a part of HAYVN, a digital asset-focused financial institution regulated in Australia (AUSTRAC), Lithuania (FNTT), Abu Dhabi (ADGM), the Cayman Islands (CIMA) and the British Virgin Islands (BVI). HAYVN Pay aims to drive cryptocurrency payment adoption by providing accessible, trusted crypto payment solutions.

Christopher Flinos, Chief Executive Officer at HAYVN said: “The interest in paying in cryptocurrency extends across all major asset industries including gold, jewellery, watches, exotic cars, boats, real estate, and handbags. HAYVN Pay aims to bring cryptocurrency payment solutions to 75% of the world’s merchants by 2024. Cryptocurrency accounts for 20% of total luxury sales in 2023. I welcome Gayo Aviation to the HAYVN Pay ecosystem and look forward to providing its customers with a safe, seamless cryptocurrency payment option.”

Ravi Dueland, Business Development Director at Gayo Aviation said: “We are proud to enable our customers with another payment method through HAYVN Pay and have already performed our first flight using HAYVN Pay. In today’s evolving new economy it’s important to provide your customers with multiple options to enable payments. We have noticed an increase in the demand for payments using digital assets and are delighted to be able to offer this to our clients through this partnership. We look forward to continuing enhancing our customers’ experiences through innovation.”

Qatar Financial Centre Authority to launch digital assets lab soon with support of PwC

Qatar Financial Centre Authority to launch digital assets lab soon with support of PwC

In a recent LinkedIn post, Henk Jan Hoogendoorn , Chief Financial Sector Officer at Qatar Financial Centre (QFC) Authority revealed that the digital assets framework that the authority has been working on will soon be launched along with the digital asset lab.

As noted, QFC is working with Price Waterhouse Cooper ( PWC) to finalize the digital assets framework and the launch of the digital assets lab.

As Hoogendoorn noted, “ We are working on digitalassets framework together with Qatar Financial Centre Regulatory Authority (QFCRA) supported by the expertise of PwC .We are making good progress on preparation of Digital Asset Lab to be launched soon.”

Prior to this Qatar Financial Authority had taken several inititiatves towards advancing DLT, Blockchain and digital assets within the financial sector.

In May speaking to LaraontheBlock, Hoogendoorn stated, “We are developing our digital assets framework to allow for public tokenization of assets, including securities, bonds, and real-estate.” He emphasized that they will not go into crypto, NFTs (Non Fungible Tokens) or commodities at this time.

In addition Qatar Financial Centre Authority and Blockchain solution provider R3 signed an MOU to develop and grow Qatar’s fintech industry using technologies such as DLT (Distributed Ledger Technology), as well as an MOU with Blockchain entity Settlemint.

In August 2022 Qatar had released a national consultation paper about the “National Blockchain Blueprint for Qatar”. The paper was collaboratively developed by CRA, Hamad Bin Khalifa University, and Qatar University. The final version was released in March 2023.

Again it seems countries across the GCC and MENA region are embracing blockchain, digital assets, and to some degree virtual assets, the future is looking crypto bright.