UAE Verofax and Bantgo utilize blockchain to tokenize recycling ewaste rewards

UAE Verofax and Bantgo utilize blockchain to tokenize recycling ewaste rewards

UAE based BANTgo and Verofax have collaborated to enhance e-waste collection.  The partnership seeks to galvanize the masses into responsible recycling by rewarding their endeavors with tokenized incentives.

Verofax, was awarded the GITEX Supernova Web3 and Blockchain award, introduces its innovative technology to this eco-initiative. The venture encompasses the deployment of advanced smart bins explicitly designed for e-waste collection.  These bins are equipped with a validation system to ensure accurate assessment of the electronic devices being recycled, determining their equivalence in terms of recoverable materials.

BANTgo, renowned for its expertise in the blockchain domain, steps in to fortify this eco-friendly initiative. Recognizing and endorsing the responsible recycling behavior of individuals, BANTgo offers digital blockchain certificates. These certificates, apart from serving as a testament to the individual’s eco-contribution, also act as a robust incentive, encouraging more to tread the path of responsible recycling.

The synthesis of Verofax’s product validation and BANTgo’s blockchain creates a robust mechanism. This not only facilitates transparency in e-waste recycling but also ensures that individuals are appropriately acknowledged and rewarded for their proactive environmental actions.

Siarhei Zhyltsou, CEO of BANTgo, commented on this collaboration, “The alliance between BANTgo and Verofax is not just transformative but also imperative for our times. Encouraging responsible recycling through tangible rewards sets a new standard in environmental initiatives.”

Wassim Merheby, CEO of Verofax, shared his enthusiasm, “Pairing with BANTgo is a testament to Verofax’s commitment to leverage its technology for pressing global challenges. Together, we’re paving the way for a sustainable future, where technology and eco-responsibility converge.”

A new real estate tokenization project launched in UAE, the Desert Pearl luxury project

A new real estate tokenization project launched in UAE, the Desert Pearl luxury project

DDX Global, a consultancy specializing in real-world asset tokenization, has launched a tokenized real estate development project called Desert Pearl as it cements its operations in Dubai UAE.

At the launch ceremony held at the Armani Hotel in Burj Khalifa, DDX Global unveiled details about ‘Desert Pearl,’ which will be underpinned by smart coding and tokenization and stands at the intersection of high-end living and ultramodern technology.

According to the press release, complementing the leadership’s vision for the Dubai Urban Plan 2040 and the Dubai Economic Agenda 2033, ‘Desert Pearl’ reflects the fast-paced digital transformation that is positively influencing every sector of the economy.

Desert Pearl’ is designed by Zhuzh, a Dubai-based international luxury, bespoke architectural design company that will draw on advanced technology and design solutions. It will feature several state-of-the-art amenities and futuristic design elements inspired by the rich heritage of the city.

Albert Weiglhofer, Chief Commercial Officer of DDX Global said: “We chose to launch our business in Dubai due to the city’s leadership, vision, and outlook on accelerating digital transformation. We see tremendous opportunity to support the digitization journey, especially in the real estate sector as it adopts blockchain technology.”

He added: “Desert Pearl brings the opportunity to introduce real-world-asset tokenization to Dubai’s real estate sector on a major scale. We look forward to a rich partnership ecosystem that will facilitate the realization of our vision and Dubai’s strategic outlook to be a leader in leveraging advanced technology, which will result in adding significant value to the Dubai economy.”

Marco van Ham, CEO of Zhuzh said: “The Desert Pearl opportunity has allowed Zhuzh to get super-creative as we delved into the heritage and culture of Dubai.  We’re aiming to create a landmark project for both Dubai and the world and partnering with DDX has given us that potential. It’s been brilliant to work with a fast-moving, innovative company like DDX Global and we’re looking forward to a great collaboration with them.” 

In an interview on the security token show, the creator of Desert Pearl cofirmed that $10 billion worth of assets will be tokenized in Desert Pearl for profit sharing and not actually owning shares in the project.

Blockchain tokenization startup PermianChain and Saudi based Ejada partner to build distributed digital Energy Infrastructure in Saudi Arabia

Blockchain tokenization startup PermianChain and Saudi based Ejada partner to build distributed digital Energy Infrastructure in Saudi Arabia

In a move aimed at establishing robust, equitable energy systems, PermianChain Technologies Inc. (“PermianChain”) a WealthTech startup focused on natural resources tokenization and digital energy monetization and Saudi based Ejada Business for Energy a renewable energy developer (“Ejada”) have partnered to shape the future of renewable energy through distributed energy in Saudi Arabia and the broader GCC region. The agreement promises to revolutionize how renewable energy projects are developed and executed.

The partnership grants Ejada exclusive representation in Saudi Arabia for PermianChain’s innovative WealthTech platform-as-a-service. This platform offers sustainable finance opportunities and cutting-edge digital asset mining services. Ejada, a leading provider and developer of renewable energy services in the Saudi market, is poised to drive a substantial transformation within the regional energy sector.

Abdulrahman AlNimri, CEO of Ejada, stated, “Our steadfast commitment to strategically accelerate renewable energy in Saudi Arabia makes this partnership with PermianChain a pivotal step in maintaining Ejada’s competitive edge in regional energy system development. We aim to contribute significantly to economic and social growth.” Mr. AlNimri went on to emphasize that “the digital energy value chain, harnessed by the PermianChain platform, streamlines sustainable finance, offering new avenues for natural wealth creation and enabling unprecedented treasury optimization for both public and private sectors.”

PermianChain, known for its expertise in natural resource tokenization and digital asset mining, envisions itself as the gateway for investors and Web3 enthusiasts eager to participate in the burgeoning digital energy revolution. The PermianChain platform services are poised to unlock fresh opportunities for natural wealth creation. Mohamed El-Masri, founder and CEO at PermianChain Technologies, noted, “Our dedication to the PermianChain mission of building, managing, and operating a distributed digital energy market for decentralized compute applications has brought this partnership with Ejada in Saudi Arabia to fruition. We see promising opportunities in ambitious mega projects such as NEOM and smart cities, which rely heavily on AI and IoT technology, with increasing adoption of blockchain and digital assets in the region.”

An Invest Saudi report revealed that the Saudi market’s data center industry is rapidly expanding, with an expected market size of USD 19 billion by 2030. The Kingdom’s plans to expand traditional data center capacity to over 1GW, involving capital investments of USD 11 billion into the sector, underline the immense potential of the market. Both PermianChain and Ejada are determined to pioneer Saudi’s digital asset and blockchain data center market, to establish a strong presence in the GCC region, paving the way for expansion into the broader Middle East and Africa. This endeavor is contingent upon obtaining the necessary regulatory licenses to operate PermianChain’s holistic WealthTech platform, offering sustainable investments and digital asset mining services.

As of this announcement, PermianChain and Ejada have plans to develop, construct, and operate an initial 25 MW solar power plant. A portion of the power generation capacity will be allocated to users of PermianChain Miner, creating an exclusive offtake opportunity for low-cost power to drive digital asset mining and compute applications. This innovative approach allows regional investors to actively participate in building equitable energy systems while optimizing treasury.

What distinguishes this partnership is its unyielding dedication to the communities where energy projects are based. By pioneering a strict approach that ensures energy is consumed where it’s produced, PermianChain and Ejada aim to foster local development, generate employment opportunities, and stimulate sustainable growth in often overlooked regions.

This transformative alliance embodies the broader global shift toward clean energy, decentralized power generation, and the empowerment of underserved areas. It stands as a testament to the power of collaboration in realizing a future where energy is equitable, sustainable, and accessible to all.

UAE Sharjah NFT to verify digital certificates using soulbound tokens built on Blockchain is live!

UAE Sharjah NFT to verify digital certificates using soulbound tokens built on Blockchain is live!

The UAE Sharjah Digital Office’s “Sharjah NFT” is now live. The NFT will be used to issue verified digital certificates using soulbound tokens which efficiently store and track documents using blockchain through a QR code.

As per the press release, this marks a significant achievement in Sharjah’s digital transformation journey and underlines its commitment to a sustainable future for all.  The platform was inaugurated at the Sharjah Government Pavilion during GITEX Global 2023. It provides an innovative and user-friendly system enabling various entities, including government authorities, educational institutions, private businesses, and event organisers, to issue authenticated certificates as non-fungible codes stored in a digital record.

Sheikh Saud bin Sultan Al Qasimi commented, “In light of the rapid advancement of technology in work and life, Sharjah Digital Office remains dedicated to integrating cutting-edge technologies to benefit the community. These efforts are central to the emirate’s digital transformation journey, driven by the vision of His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, who underscores the importance of fostering innovation in Sharjah’s technological domain and prioritising flexibility and efficiency across all sectors.”

He added, “The introduction of the Sharjah NFT Platform signifies a shift from traditional paper certificates to secure and dependable digital certificates, which are easy to issue and offer a high level of reliability and security. The platform acts as a firewall; it is impervious to any form of tampering or fraud and ensures the authenticity and credibility of certificates through blockchain technology, guaranteeing their direct association with the legitimate recipient.” He also stressed that this initiative aligns with Sharjah Digital Office’s strategy to reinforce and expedite the digital transformation journey in the emirate, with a strong emphasis on making significant strides in the domain of smart living.

Users can design and generate customized certificates to meet their specific needs, utilizing the platform’s blockchain-based infrastructure to efficiently create certificate records and serve as a central control hub for coordinating their distribution with maximum efficiency and minimal manual involvement.

Qatar Finance Ministry partners with WEF for blockchain and AI development

Qatar Finance Ministry partners with WEF for blockchain and AI development

The Qatar, Ministry of Finance, signed an agreement  with the World Economic Forum (WEF) to establish a “Centre of Excellence for the Fourth Industrial Revolution” in Qatar that will help to foster an environment for research and development in technologies that include AI ( artificial intelligence), blockchain, IoT (Internet of Things), renewable energy and others.

The agreement was signed by HE the Minister of Finance, Ali bin Ahmed al-Kuwari and WEF founder and executive chairman Prof Klaus Schwab, in Doha. This strategic partnership paves the way for future collaboration, as the center aims to promote technological progress, diversify the economy and to promote sustainable development in Qatar, the Ministry of Finance noted.

It will also provide learning and training opportunities in those fields for Qatari nationals, developing their skills to keep pace with global developments.

“Qatar continues to fulfill its commitment to strengthening multilateral action to address current challenges to contribute to global growth,” Ministry of Finance added.

Overall Qatar has been pushing forth its blockchain and digital asset strategy, and has prepared a framework for digital assets as well as will be launching digital assets lab at the end of October 2023.

Web3 business incubator KEY Difference receives license from UAE DMCC

Web3 business incubator KEY Difference receives license from UAE DMCC

Web3 KEY Difference has received from UAE Freezone DMCC its business incubator license, a move that signals the next chapter for the company as they launch KEY Difference Labs, their new accelerator.

Over the last decade, starting from 2013, the blockchain landscape witnessed the steadfast growth of KEY Difference Media, the precursor to KEY Difference DMCC. Founded by Mr. Karnika E. Yashwan To has a wide range of accomplishments ranging from marketing for several Fortune 100 companies to assisting in the monumental fundraising of over $550 million during the 2017 ICO phase, the firm’s trajectory is nothing short of remarkable.

KEY Difference Media’s emphasis on incubating promising enterprises, its hands-on involvement in establishing extensive blockchain ecosystems, and its advisory role for potential future unicorns showcase the company’s forward-thinking approach.

Yashwan To  explains, “The focus of the accelerator is to assist Web2 powerhouses in seamlessly transitioning to Web3 using the blockchain infrastructure. It’s disheartening to observe the crypto space riddled with scams and short-sighted strategies. My passion is about championing businesses that exemplify long-term, steady growth. This is achievable by harnessing the value ingrained in the Web2 sphere and appealing to its vast user base through simple, effective business use cases.”

The aim is to onboard the masses by introducing Web2 value-driven entrepreneurs to the transformative potential of Web3 technology. He adds, “We’re working towards building a brighter future.

He adds, “But what makes this business incubator license so great? Not every firm gets this nod. The DMCC reserves it for the best, those who’ve proven their mettle. This exclusive license isn’t just a feather in KEY Difference DMCC’s hat; it symbolizes their dedication and unmatched expertise in the field.”

U.S. based DTCC to acquire Abu Dhabi digital asset infrastructure provider Securrency

U.S. based DTCC to acquire Abu Dhabi digital asset infrastructure provider Securrency

The Depository Trust & Clearing Corporation, an American post-trade financial services company providing clearing and settlement services to the financial markets known as DTCC, has signed a definitive agreement to acquire Abu Dhabi based Securrency Inc. (“Securrency”), a leading developer of institutional-grade, digital asset infrastructure invested in by Mubadala sovereign Fund.

Securrency will become a fully-owned subsidiary of DTCC and will operate under the name DTCC Digital Assets. Nadine Chakar, CEO of Securrency, will join DTCC as Managing Director, Global Head of DTCC Digital Assets, reporting to Lynn Bishop, DTCC Managing Director and Chief Information Officer. Chakar will also join the DTCC Management Committee. In addition, Dan Doney, CTO and founder of Securrency, John Hensel, COO and co-founder, and other members of the Securrency leadership team, as well as roughly 100 Securrency staff of full-time employees or contractors, will become DTCC employees.

Securrency is a blockchain-based financial and regulatory technology developer that raised $30 million in 2021 from State Street, US Bank, WisdomTree Investments and others. It has worked with WisdomTree to help the asset manager launch “blockchain-enabled” funds that keep a secondary record of share ownership on the Stellar or Ethereum blockchains.

Frank La Salla, President, CEO and Director, DTCC, said, “Securrency is an important strategic acquisition that will give us the technology to drive market-wide transformation by enabling end-to-end digital lifecycle processing for tokenized assets, digital currencies and other financial instruments. By bringing together DTCC’s commitment to providing market stability and our unparalleled network of financial market participants with the sophistication of the Securrency technology, we will be in a leading position to unlock the value of digital assets and help guide the industry through its digital transformation journey. We believe this next generation of financial market infrastructure will further reduce settlement times, facilitate market transparency and risk management, enhance regulatory oversight and controls, and unlock efficiency and innovation to create an improved investor experience.”

By combining DTCC’s digital capabilities and Securrency’s technology, DTCC will fast-track development of its enterprise digital asset platform to unlock the power of institutional DeFi. DTCC will leverage the technology over time to embed digital assets within its existing products and services, develop new, regulatory-compliant blockchain-based offerings and explore use cases with the industry, including buyside asset managers, broker-dealers and custodians, to collaborate on new DTCC blockchain-based solutions.

In addition, DTCC will lead the industry’s development of a robust, global digital infrastructure by licensing the Securrency technology and offering professional services. Firms will be able to leverage the technology to transform and evolve their operating models and to create innovative, new digital asset services alone or in collaboration with other market participants – similar to how WisdomTree licenses Securrency’s software as part of the infrastructure for its WisdomTree Prime™ offering that provides tokenized assets and funds via digital wallets for retail investors and consumers.

Chakar said, “As we join forces with DTCC, we are excited to bring together DTCC’s infrastructure capabilities with Securrency’s technology to embrace a future where the digitization of capital markets is at the forefront of innovation. These capabilities will allow DTCC to partner with the industry to build a resilient and scalable infrastructure critical to the mass adoption of digital assets. Together, we will unlock opportunities to reimagine compliance, liquidity, efficiency and interoperability in trading real-world assets on the blockchain.”

DTCC also plans to provide global leadership to foster industry-wide collaboration to help avoid fragmentation with different digital technologies and standards. Securrency’s technology can address this issue by acting as a DLT-agnostic harmonization layer that promotes interoperability, liquidity, transparency and security.

La Salla said, “We look forward to building on our past work to drive consensus around the standards, controls and frameworks necessary to support regulatory-compliant digital asset solutions and development of the right architecture and infrastructure to ensure widespread interoperability. We’re excited to welcome our new colleagues to the DTCC team and to begin collaborating as a group to strengthen market stability and resilience and drive greater efficiencies, productivity, risk mitigation and liquidity in the global financial markets.”

This announcement comes as John Hensel, Chief Operating Officer and Senior Executive Officer, MENA, Securrency told IBS intelligence, “The UAE is ramping up its efforts to become a global blockchain hub.” In his interview he commented on why they chose UAE out of all the other countries globally including, USA, Switzerland, Hong Kong and Singapore.

According to Hensel, SEC ( Securities and Exchange Commission) in the USA has portrayed a conservative approach to the regulation of digital assets, so exploring other regulatory jurisdictions they found that the UAE was a credible, well positioned young financial center that embraced technology with experienced regulatory experts from the USA, Australia, Singapore and others.

He explains, “ After being here for 6 years we have seen the landscape change and become more favorable for investors partnering under FSRA and who are benefiting from the protection of ADGM which will grow opportunities locally for us given we were first movers and have strong relations with sovereign wealth entities, broker dealers, fund managers as key stakeholders.”

Securrency entered the ADGM FSRA regulatory sandbox in 2017 and secured a Financial Services Permission (FSP) from ADGM’s Financial Services Regulatory Authority (FSRA) to deal in investments as a matched principal and provide custody for those investments in 2022. The license enabled Securrency Capital to provide trading of digital assets to a variety of clients, including retail clients.

Securrency had raised $30 million in its latest funding round. The funds were used to roll out the company’s expansion plans. The Series B funding round included existing investor WisdomTree Investment along with Abu Dhabi state fund Mubadala-backed Abu Dhabi Catalyst Partners, State Street and U.S. Bank. Prior to that in 202, The Abu Dhabi Investment Office (ADIO) had invested in Securrency, a US-based developer of blockchain-based financial and regulatory technology through its ventures fund.

The company also signed a strategic partnership with leading investment management and banking firm, Musharaka Capital in KSA, to develop a compliant platform for issuing digital securities in Saudi Arabia in 2020.

Indian Pyse utilizing Polygon Blockchain expands to UAE with EV and Solar green tokens

Indian Pyse utilizing Polygon Blockchain expands to UAE with EV and Solar green tokens

Indian headquartered Pyse which is utilizing Polygon blockchain to tokenize its green assets has announced its expansion into the UAE where it will tokenize EV and Solar projects with green tokens. Their web3 debut will feature an exciting EV leasing deal for some of Dubai’s top-tier 3PL companies.

According to Pyse press release, launching initially in India with a formidable investor community of 7,000+, Pyse has championed investments in transformative sustainability projects, including renewable energy, EVs, and water recycling. These investments have allowed individuals to offset their environmental footprints while realizing tangible financial returns.

“Many perceived green initiatives as either prohibitively expensive or purely philanthropic,” says Kaustubh, Co-Founder at Pyse. “At Pyse, we’re bridging the gap between sustainability and profitability. Historically, green assets – a sector where sovereign funds and HNIs thrived – were exclusive. We’re opening access to this market, enabling anyone to participate in a market that helps our planet and your wallet!

Pyse successfully built assets worth over $7 million, primarily for highly-regarded entities in India and now the company is setting up its operational base in Dubai, marking its maiden venture outside India and into the UAE.

As per the release this foray coincides with their expansion to web3, enabling tokenization of assets across India and the GCC, starting with the UAE. Pyse is primed to list an array of promising EV and Solar projects in prime regions like Dubai, Abu Dhabi, and Ras Al Khaimah. Their web3 debut will feature an exciting EV leasing deal for some of Dubai’s top-tier 3PL companies.

“By harnessing the latent potential of real-world asset tokenization, Pyse is leading the charge by offering greater accessibility to transparent and lucrative green investments,” said Sanket Shah, Head of Growth at Polygon Labs.” Polygon Labs has always strived toward sustainability via its environmentally conscious approach to blockchain development, which is why the Polygon protocol is already carbon-neutral and has committed to becoming carbon-negative in the foreseeable future. This is why Polygon is a perfect fit for eco-focused platforms like Pyse, and we are excited to help them power a greener future on-chain.”

The forecast for the tokenized real-world asset market is promising. Expected to catapult from US$310 billion in 2022 to a staggering US$16.1 trillion by 2030, green assets are predicted to constitute over 20% of all on-chain listings.

As Pyse charts its ambitious roadmap for the near future, the target is clear: catalyze the development of green assets worth over $40 million across the GCC and India while neutralizing an impressive 60 million tons of CO2 by 2024.

UAE luxury real estate Group BENMARG to offer crypto payments with UBITQUITY

UAE luxury real estate Group BENMARG to offer crypto payments with UBITQUITY

UBITQUITY, a blockchain and real estate technology company for Real World Assets for web3 is thrilled has partnered with BENMARG Group, a luxury real estate agency based in Dubai, UAE. This to enhance the luxury real estate market by showcasing BENMARG Group’s exquisite property listings on CryptoListing, a prominent platform for real estate transactions using cryptocurrencies as well as enabled cryptocurrency transactions for these luxury properties through UBITQUITY’s innovative UbitquityPay service.

BENMARG Group is renowned for curating an exclusive portfolio of luxury real estate offerings in Dubai and beyond. The company’s commitment to delivering exceptional properties that cater to the most discerning clientele aligns perfectly with the capabilities of CryptoListing and UbitquityPay.

CryptoListing, a bleeding-edge platform, provides a secure and transparent environment for the purchase and sale of real estate using cryptocurrencies. This collaboration will allow BENMARG Group to tap into the growing global market of cryptocurrency enthusiasts and investors who seek luxury properties as a store of value and investment.

UBITQUITY, LLC’s UbitquityPay service is designed to streamline cryptocurrency transactions for real estate, offering both buyers and sellers a simplified and efficient process. This service will enable BENMARG Group’s clients to seamlessly complete cryptocurrency transactions when purchasing these high-end properties.

“We are excited to collaborate with UBITQUITY, LLC, to bring our luxury real estate listings to the CryptoListing platform. This partnership allows us to cater to a tech-savvy and global audience while providing a secure and efficient way to transact in cryptocurrencies,” said George Gabriel of BENMARG Group.

“BENMARG Group’s commitment to excellence in luxury real estate aligns perfectly with our mission to bring innovation to the real estate industry. We look forward to enabling seamless cryptocurrency transactions for their prestigious properties through UbitquityPay,” said Nathan Wosnack, Founder & CEO of UBITQUITY.

Representatives from both BENMARG Group and UBITQUITY are currently at the Future Blockchain Summit in Dubai, UAE.

Concurrently UBITQUITY and Women in Blockchain Canada have joined Forces to Fundraise and Forge Enterprise Partnerships as well as bring its tech innovations to MENA at Future Blockchain Summit.

Blockchain deposit token payment platform Fluent to set up operations in UAE

Blockchain deposit token payment platform Fluent to set up operations in UAE

USA based Fluent Finance, a blockchain enabled fintech infrastructure company responsible for developing the connections from core banking to public layers, bridging Web2 to Web3 utilizing the Fluent Protocol, has joined UAE’s Ministry of Economy NextGEN FDI program as Fluent plans to launch its operations in Abu Dhabi and expand its workforce in the UAE to 125 people in the next five years.

Fluent is working to issue deposit tokens which are stable-valued, regulatory-compliant digital assets interoperable with core banking systems. With Fluent, banks may issue fiat-equivalent tokens directly to public blockchains based on outstanding customer deposits and central bank-issued CBDCs.

Fluent will use its new UAE headquarters to deploy and scale its proprietary Fluent Economic Bridge, which can be used by importers and exporters to settle transactions via stablecoins or, increasingly, deposit tokens.

They are already piloting the platform in Kenya, and now hope to develop a digital trade corridor with the UAE.

Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, said Fluent’s participation in the NextGen FDI initiative underlines the UAE’s status as a hub for global trade and a supportive ecosystem for new technologies such as blockchain: “The UAE has become a prominent advocate for the modernization of the multilateral trading system, as well as a supportive place for the development of the tools and applications that can deliver it. I am optimistic about the possibilities of the Fluent Economic Bridge, and the potential for digital currencies to improve the efficiency and accessibility of global supply chains. In the build-up to the World Trade Organisation’s 13th Ministerial Conference in Abu Dhabi in February next year, encouraging platforms such as those developed by Fluent will offer an important proof point for the UAE’s leadership on trade technology.”

Bradley Allgood, Fluent Finance’s Chief Executive Officer, said the UAE was the obvious place in which to launch Fluent Economic Bridge. “The UAE offers exactly the kind of supportive, enabling environment that Web3 companies such as Fluent require. The combination of thoughtful regulation, forward-looking vision and advanced technology ambitions means we have the right foundations on which to develop our product and grow our organization. Importantly, this is also an important trade crossroads, which provides a multitude of opportunities to deploy our platform. We genuinely believe that, with the right support, we can transform Fluent Economic Bridge into the next unicorn.”