Stc Bahrain launches Web3 infrastructure with Avalanche Blockchain

Stc Bahrain launches Web3 infrastructure with Avalanche Blockchain

Stc Bahrain recently announced the launch of “Intersect the Network” on Avalanche Blockchain. As per the press release, the initiative aims to advance Web3 innovation, promote digital transformation for decentralized applications (dapps). In April 2024, stc Bahrain announced its partnership with Avalanche Blockchain to build Web3 in the MENA region.

Intersect aims to be the entry point for new users and organization to transition from the world into the Web3.

The infrastructure for this network has been provided through a joint collaboration between stc Bahrain and their Qal’at Path partner Avalanche.

To commemorate the launch of ‘Intersect the Network’, a 30-day virtual Web3 Makeathon + Hackathon will be held starting August 12. stc Bahrain, along with Avalanche, is proud to announce their title sponsorship for this event. Additionally, Nirvana labs, Chainlink, Lionscraft, OneKey, K3 Labs and Candide Labs will be event partners, sponsoring exciting prizes for the participants. The event aims to bridge the gap between the real world and the world of Web3, fostering creativity and innovation through both coding and non-coding tracks.

No-code tracks will invite artists to design unique artwork and profile pictures, while coding tracks will challenge developers to build solutions in Gaming, Music, Media, Interoperability, and Security on ‘Intersect the Network’. Registrations for the Intersect Makeathon + Hackathon are now open at intersect.to

“We are thrilled to unveil Intersect, a new blockchain network on Avalanche that opens up new possibilities for Web3 innovation. We hope this platform will serve as a catalyst for Web3 development, providing a space for groundbreaking applications and services globally. This initiative also underscores our dedication to empowering the people of Bahrain with innovative solutions and new technologies in line with Bahrain’s Vision 2030 goals. The upcoming Intersect Makeathon + Hackathon is an exciting opportunity for creative minds from all over the world to showcase their talent and bring innovative ideas to life. We can’t wait to see how participants will leverage this platform to intersect the real world and the world of Web3.”

“We are proud to announce a significant milestone in our partnership with stc Bahrain through the unveiling of the Intersect Avalanche L1. We hope this initiative will help enhance the Avalanche ecosystem both in the Middle East and worldwide, fostering a thriving environment for decentralized applications. In addition, we’re excited to support the upcoming Makeathon + Hackathon, a great opportunity for developers and artists alike. We look forward to seeing some amazing applications and innovations come to life.”

For more information and to participate in the Intersect Makeathon + Hackathon, visit the website at intersect.to   
 

Moroccan advisory firm to offer blockchain cyber security solutions

Moroccan advisory firm to offer blockchain cyber security solutions

Moroccan BDO advisory has partnered with Naoris Consulting to integrate Naoris’s solutions including their blockchain based security protocol into their service offerings.

According to the announcement the integration is specifically designed to meet the unique challenges of the French-speaking African market.

The synergy between BDO Advisory and Naoris will make it possible to develop tailor-made digital transformation strategies, with a particular emphasis on cybersecurity. The objective is to use Naoris’ advanced technology to strengthen the resilience and competitiveness of African organizations and businesses, explains BDO Advisory.

On LinkedIn, Zakaria Fahim Managing Partner of BDO Morocco, stated, “We are excited to promote our strategic partnership for advancing decentralized cybersecurity using blockchain technology. This collaboration is key to providing innovative, secure solutions for Morocco and Africa.”

He added, “Our shared goal is to develop advanced cybersecurity systems leveraging blockchain’ s decentralization and transparency. This partnership will enable us to offer robust solutions tailored to the unique challenges faced by our enterprises in Africa and globally.”

Naoris Consulting on LinkedIN noted, “We are excited to share a pivotal chapter in our story. We’re embarking on a strategic partnership with BDO Morocco, a union of vision and expertise to revolutionize digital transformation with cybersecurity as a backbone in Francophone Africa. Envision a landscape where every organization in Francophone Africa is empowered to thrive digitally, bolstered by unyielding cybersecurity. This partnership is our stride towards turning that collective dream into a tangible reality, ensuring a safer and more innovative future for all.”

More and more Blockchain companies are moving to Morocco to serve the African region, including entities such as The Hashgraph Association, IR4Labs and others.

UAE well-known Blockchain crypto entrepreneur and investor Saeed Al Darmaki joins BoCG ventures

UAE well-known Blockchain crypto entrepreneur and investor Saeed Al Darmaki joins BoCG ventures

Saeed Al Darkmaki, a UAE national well known in the crypto, blockchain and DeFi circles as an entrepreneur and investor has joined BoCG, a Venture firm focused on an Arabian Peninsula Fund in MENA region, to oversee the growth of blockchain-based venture portfolios seeking the next stage of growth through their Venture Operating Model (VOM).

As per the announcement, Al Darmaki, renowned for his role as CEO of Sheesha Finance, a decentralized cryptocurrency platform aiming to bridge the gap between DeFi and traditional financial markets, brings invaluable expertise to the table as a prominent figure in the blockchain and cryptocurrency industry.

Under Al Darmaki’s leadership, Sheesha Finance has gained recognition for its unique approach to DeFi. The platform offers investors access to a diverse portfolio of promising projects, allowing them to participate in early-stage investments and receive rewards in the form of Sheesha Finance’s native tokens.

Al Darmaki’s impressive career trajectory commenced in October 2009 at the Abu Dhabi Investment Authority (ADIA), where he served as an Operations Specialist before transitioning to the role of Fixed Income & Treasury Specialist in May 2013. With a desire to explore the evolving cryptocurrency and digital asset landscape, he co-founded Alphabit in January 2017—a dynamically managed investment fund. His market knowledge and experience positioned him as Managing Director at Alphabit, where he provided invaluable guidance and mentorship to blockchain entrepreneurs across finance and business development domains.

Beyond Alphabit, Al Darmaki’s influence extended as Chairman of eGovern, a distinguished UAE-based company, collaborating closely with governments and corporations to identify and implement tailored blockchain solutions that address pressing challenges and drive digital transformation. In 2021, he further expanded his portfolio as the Managing Director for the MENA region at Casper Labs, empowering him to deliver enterprise-grade blockchain solutions to meet the growing demand in the market.

“With the addition of Saeed Al Darmaki to our team, we will accelerate our efforts to scale our Venture Operating Model and Antifragile thesis in the Middle East. Saeed and our team have a deep and intrinsic desire to empower local Emiratis and the next generation of scalable companies in the Arabian Peninsula. With our collective expertise in finance, investments, and technology, we believe the GCC and MENA regions will excel in developing a healthy public and private market grounded by fundamentals. Saeed has already made a significant impact in driving the future of digital assets and we are excited to join forces to bring in another pivotal force to the region.” – Lyon Kassab, BoCG Ventures Managing Partner

In his role as a Board Advisor to BoCG Ventures, Al Darmaki will oversee the growth of blockchain-based venture portfolios seeking the next stage of growth through their Venture Operating Model (VOM). Additionally, he will contribute to developing the limited partner base, engaging forward-thinking investors and sovereign wealth funds in the GCC and MENA regions. Al Darmaki’s mission is to bridge traditional investment capital with scalable companies while empowering second and third-generation entrepreneurs to synergize with BoCG Ventures’ core value proposition of integrated teams and technology-driven scale.

“Since our first meeting, I was fully aligned and impressed with the pattern recognition that has driven the BoCG Ventures team to the Middle East. Their antifragile thesis and philosophical underpinnings show a deep understanding of history, geopolitics, macroeconomic trends, and a foundation of human capacity building. As an avid early stage investor, I am well aware of the value creation that their Venture Operating Model can bring to companies and to the future of the GCC and MENA regions. I am thrilled to be in a position to help BoCG Ventures instill their entrepreneurial influence while simultaneously driving local innovation.” – Saeed Al Darmaki

Throughout his career, Saeed has held notable positions such as Managing Director at Binary Financial and occupied board seats at esteemed entities including DEX, RealEx, MENA Fintech Association, BeMobi, Jahani & Associates, LEAD Ventures, Royale Finance, Artha, PAID Network, and Kenzi Wealth. These roles have not only granted him valuable insights into the crypto/blockchain landscape but have also facilitated the cultivation of a robust network, exponentially augmenting his market knowledge. It was in June 2018 that Saeed elected to depart from ADIA, dedicating his full focus to the burgeoning crypto/blockchain industry.

Swiss based Dfinity Foundation launches ICP Hub GCC and supports UAE recycling project

Swiss based Dfinity Foundation launches ICP Hub GCC and supports UAE recycling project

Dfinity Foundation a major contributor to the Internet Computer Platform (ICP) blockchain and a Swiss-based not-for-profit organization with the largest R&D team in blockchain is making waves in the MENA and Asian region with partnerships such as with Roland Berger on UAE launched Voluntary recycling credits, as well as a $20 million grant to Asian startups and grants to MENA based startups such as ChainSight, an inter-chain data processing network to be able to use on-chain data with smart contracts.

The Internet Computer is a general-purpose, layer one blockchain that acts as a Cloud 3.0. The network has been operating for over two years, and has grown its daily transactions size to over 750 million, a 425% increase from its first year of operation. Notably, Dfinity Foundation asserts that its service has been provided with zero downtime.

Partnership with UAE Recycling Project

Most recently Roland Berger, a global strategic management consultancy firm with a strong presence in MENA selected Switzerland-based Dfinity Foundation as the technology partner for the development of the ‘Voluntary Recycling Credits’ standard announced by UAE’s BEEAH Group  with Roland Berger and the International Solid Waste Association.

As per their announcement the three companies aim to develop a new standard powered by the blockchain that can help beef up recycling numbers in the waste sector. As such businesses with sparse recycling infrastructure who are keen on aligning with Sustainable Development Goals can buy credits on the forthcoming marketplace. These credits are provided by companies with surplus recycling capabilities. Meanwhile, the flow of funds will free up more money to boost investment in further enhancement and emerging recycling technologies.

“We have a unique opportunity to redefine waste management and make tangible strides in environmental stewardship,” said Hani Tohme, managing partner at Roland Berger in the Middle East.

The Voluntary Recycling Credits standard is being built on blockchain technology. According to the initiators, blockchain is a “foundational element critical to the success” of the standard, guaranteeing a transparent, auditable, and secure record of recycling credits and transactions. “This transparency ensures that all parties – whether waste producers or recyclers – can trust in the veracity of the credits they purchase, sell, or trade.”

“Selecting the right blockchain technology that harmoniously balances decentralization, security, usability and storage space is key for a project of this importance. We are happy to have selected Dfinity Foundation as our technology partner. The Internet Computer is one of the most advanced blockchains in the world, its efficacy and security make it the perfect platform to build this project on,” said Pierre Samaties, partner at Roland Berger.

“We are honored to have been selected by the Roland Berger team to collaborate on the Voluntary Recycling Credit. This initiative aligns with the core values of our team at Dfinity and Internet Computer, as we always look to ensure the blockchain remains at the forefront of sustainability and work with leading enterprises,” said Dominic Williams, Founder of Dfinity Foundation.

Through the partnership, Dfinity Foundation will develop the underlying technology for standard. The first milestone will take place at COP28 in Dubai, when the private-public coalition behind the standard will display the first-ever live recycling credits transaction.

Launch of ICP Hub GCC

As part of Dfinity’s efforts to support the ICP blockchain platform, ICP Hub GCC has been launched to support the growth of the ICP ecosystem in the GCC ( Gulf Cooperation Council) region as well as the in MENA region.

Saed Ereiqat, Co-Founder of ICP Hub GCC tells LaraontheBlock, “The UAE is undoubtedly amongst the most advanced countries to deploy and develop on Web3 and Blockchain. It was therefore only a matter of time, that the ICP.Hub GCC launched in the UAE, where it is accelerating the mass adoption of the Internet Computer Protocol in the Gulf Region.”

As per Saed the ICP.HUB GCC has ambitious plans in the region as a community based project aiming to empower users and providing a robust platform for the development and hosting of secure software systems and open internet services.

ICP.HUB GCC is supported by Dubai based Crypto Oasis while partnering with UAE VC firm Cypher Capita. .Together with local Education Institutes, the hub aims to further raise awareness and provide education for young developers and entrepreneurs to learn about Blockchain and how to effectively apply it for future-ready developments. Investors are offered an opportunity to invest in the rapidly expanding Ecosystem and projects therein.

Through its grant program UAE based ChainSight an inter-chain data processing network to be able to use on-chain data with smart contracts.  ChainSight gains financial and technical support and with the connection to the hub, they are also provided with community support and communities to raise awareness for their development.

UAE nealthy NFT and crypto investment platform raises $1.3 million in pre seed round

UAE nealthy NFT and crypto investment platform raises $1.3 million in pre seed round

UAE based nealthy, a Web3 startup for investing in NFTs and cryptocurrency, has raised $1.3 million in pre-seed funding. Nealthy will use these funds to grow a core team, hire talent, and boost sales & development.

nealthy offers index tokens that enable investors to enter Web3 markets quickly and worry-free. Index tokens replicate the structure of classic exchange-traded funds (ETFs) by storing multiple virtual assets, diversifying the portfolio in case of unexpected market shifts. Moreover, index tokens like nealthy’s $NFTS retain real underlying value, with $NFTS being pegged 1:1 to blue-chip NFTs.

Co-founders Ludwig Schrödl (CEO), Zied Said (CTO), and Tim Pascual (CMO) established nealthy after observing a gap in the market for diversified index tokens. With backgrounds that unite finance, data science, and a deep knowledge of virtual assets, the co-founders’ expertise will keep investors at the forefront of a rapidly expanding market.

Although the founders’ origins lie in Germany and Tunisia, nealthy is incorporated in Dubai so that investors can benefit from a world-leading, tax-friendly regulatory environment. nealthy will also incorporate in the Metaverse Zone of Anguilla to emit the token in a regulated environment.

nealthy handles transactions via blockchain technology, the decentralized Web3 network behind most cryptocurrencies. The Ethereum Net blockchain enables nealthy to openly display proof of reserve, confirming the presence of blue-chip NFTs in nealthy’s digital vault.

“This is a space with enormous potential, and with any potential comes risk,” says Zied Said, CTO of nealthy. “To counteract those risks, we maintain security by storing all assets in cold wallets and smart contracts. Each cold wallet is public and maintains completely transparent holdings.”

As the market’s first dynamic blue-chip NFT token, nealthy’s $NFTS stores the market’s ten most valuable NFT collections. Currently these collections include the likes of CryptoPunks, Bored Ape Yacht Club, Mutant Ape Yacht Club, and Azuki, but because $NFTS is allocated by the market, any single NFT collection will be swapped should it drop from the top ten. No single collection will ever comprise over 25% of $NFTS’ value.

“As NFT trading markets evolve, potential investors are showing increased interest in diversification,” says Ludwig Schroedl, CEO of nealthy. “That’s even more true for first-time investors. A blue-chip index token, like $NFTS, provides superior investment opportunities at a reduced level of risk. And if we can do it with NFTs, we can do it with every asset on the blockchain.”

nealthy plans to release the $NFTS token in summer 2023.

Web3 Blockchain messaging platform Pravica is only MENA startup chosen by Deutsche Telecom’s and T-Mobile for T-Challenge 2023

Web3 Blockchain messaging platform Pravica is only MENA startup chosen by Deutsche Telecom’s and T-Mobile for T-Challenge 2023

Egypt founded, WEB3.0 messaging and Blockchain communications platform, Pravica, with offices in Egypt and the UAE is the only MENA-based startup chosen among the top 20 finalists for Deutsche Telecom’s T-Labs and T-Mobile’s T-Challenge 2023.

T-Labs is the R&D department of Deutsche Telekom which focuses on translating new technology trends and delivering tangible results into Deutsche Telekom’s innovation portfolio. Their current research areas are: Future Networks, Spatial Computing, Network Security and Digital Twin and Decentralized Systems

Pravica, an Egyptian WEB 3.0 Messaging and Blockchain communications platform with offices in UAE was one of the 20 projects selected for T-Labs and T-Mobile’s Challenge in 2023.

The focus of T Challenge in 2023 is utilizing decentralized technologies for telecommunication in other words Web3 in telecommunications. As per the T-Challenge announcement, the start-ups were chosen because they stood out for their innovative Web3 solutions powered by 5G.

T-Mobile USA, and T-Labs were looking for innovative and creative approaches for the segments customer engagement and loyalty, wallet and ID management, network and security, media, entertainment, and experiential as well as sustainability.

The 20 finalists, including startups from the USA, Europe and Asia, will prepare and present their solutions to Deutsche Telekom and T-Mobile US leaders.

Six winners of this group will be selected and split €600,000 euros, or roughly the same in U.S. dollars, in prize money. Winners will also have the opportunity for their solutions to be featured by T-Mobile US and Deutsche Telekom in other projects across Europe and the U.S.

Founder and CEO of Pravica, Mohamed Abdou said, “We are very proud to have been the only Web3 startup from the MENA region to have been chosen among the top 20 global decentralized players. We were selected because we are offering the future of communications utilizing Web3 technology, blockchain, and secured encryption ushering in a new era of messaging. We have built an infrastructure that aims to bring wallet-to-wallet messaging functionality to Web 3.0 communities. Our main mission is to empower the user-owned Internet by allowing our users to own and control their data and encryption keys linked to their owned DIDs. Being selected is a testament that Web3 startups from the MENA region can compete globally with their world-class solutions.”

Deutsche Telecom in their press release stated, “We are very happy to announce the final nominees of our T Challenge on Web3 in telecommunication. The nominees focus on innovative ideas to change the way the world uses the internet. We cannot wait for the demo day and award ceremony on May 23, 2023, to come and experiences the solutions live here in Bonn at Deutsche Telekom headquarter.”

John Saw, Executive Vice President, Advanced & Emerging Technologies at T-Mobile, added, “Each and every one of the names on this list stood out for their innovative Web3 solutions powered by 5G. They’ll spend the next few months evolving and refining their concepts that will help shape how we use the next generation of the internet.”