How can our most important and cherished chats and messages live on forever?

How can our most important and cherished chats and messages live on forever?

At one point in all of our lives, we have either deleted important messages we received by accident, or lost all our whatsapp conversations, and maybe even wished we knew how to find an important message on discord, telegram, or even a Web3 communication app we were using.  Well this has now been resolved with the advent of a Web3 blockchain enabled, ‘Eternal Message’

Today more than 3 billion people worldwide are using messaging apps, sending an average of 145 billion messages every day. While the majority of these messages are insignificant, some are very important to those sending and receiving them.

While Web3 messaging apps have come to resolve the issues of security and privacy, as well as offer fully encrypted and stored messages on the blockchain, yet none of them has thought about eternally capturing those we deem important so we can retrieve them easily later on.

In an interview with LaraontheBlock Mohamed Abdou Founder and CEO of Egyptian headquartered and UAE based Pravica, developers of a Web 3.0 Blockchain communication platform, highlighted the innovation that will save those very previous messages whether personal, business related or potentially those of historical significance , he explained,“ In both of our Web3 crypto native Pravica messenger and Pravica Club group chat platforms, we have developed a solution that allows users to save their text messages forever on the blockchain in the form of NFTs. We call it the eternal message.”

Explaining how it works, he adds, “Users can take pieces of their conversations and put it in plain text on the blockchain. The piece of conversation will be converted into a single transaction ID that users can share with anyone. It will forever be on the blockchain and can be verified and shown as a Proof of Chat.”

These minted text extracts of 1024 characters, called eternal messages, can be minted into NFTs (Non Fungible token). Eternal messages, which can not only save and engrave personal moments, like the first time someone said I love you, or a marriage proposal, but can also be used in business transactions, forged through a chat or even a historical statement made in a historical moment addressed to a community or group.

 So for example in the historical moment when Ethereum merged successfully, Vitalik statements to the entire Ethereum community could have been engraved eternally on the blockchain, so future generations could bear witness to the achievement decades from now.

With more and more business conversations happening on Web2 and Web 3 messaging platforms, deals, transactions, and partnerships will most probably be minted into eternal messages.

Pravica revealed the ‘Eternal message feature’ during their launch of the first DcFi (Decentralized Communications and Finance) platform, the Pravica Club, at CV Summit 2022, hosted by CV Labs in Switzerland.  Back in 2021, CV VC Labs had invested in Pravica.

Pravica applications, built on Stacks Blockchain and secured by Bitcoin, developed and launched a completely decentralized Web 3.0 communications platform utilized by both enterprise and individuals.

The DcFi platform allows for Web3 and native crypto conversations with seamless in chat payments, stacking pools similar to DeFi applications out there.

The CEO noted, “We are empowering the Web 3 creator economy. This is especially relevant in the era of the metaverse where individuals will need decentralized identities, secure communications and P2P financial transactions as well as features such as eternal messages. This is a gateway towards a truly Web 3.0 creators economy.” 

Crypto advocate Kevin O’Leary turned UAE national launches Web3.0 fund with lead investor from UAE

Crypto advocate Kevin O’Leary turned UAE national launches Web3.0 fund with lead investor from UAE

Kevin O’ Leary, nicknamed “Mr. Wonderful”,  a Canadian businessman, entrepreneur, and television personality and an advocate of cryptocurrency stated that he recently became a UAE citizen because he wants to work freely in a region that has attracted investment by some of crypto’s heaviest hitters, including FTX, Binance and Crypto.com

This came as he announced at Converge22 Blockchain and cryptocurrency conference that he was launching a Web3.0 investment fund called Cipher with the lead investor coming from the UAE.

As he noted on stage, “We’ve got to get away from this speculative price of an asset here. We’ve got to find reasons that this technology gets embedded into the economy.”

He went on to say, “I recently became a citizen of the United Arab Emirates to work freely in a region that has attracted investment by some of crypto’s heaviest hitters, including exchanges FTX, Binance and Crypto.com. The new all-Web3 fund’s lead investor comes from the United Arab Emirates.  There’s a tremendous amount of capital and interest there to invest in this space.”

The Shark Tank investor also commented on Jamie Dimon, the chief executive officer of JPMorgan Chase & Co., who called Bitcoin and some other cryptocurrencies as “decentralized Ponzi schemes” during the U.S. House Committee on Financial Services hearing.

“This is my interpretation. He feels threatened by some of this technology, particularly around payments,” O’Leary said. “This isn’t about speculation on asset price. This is about reducing the fees of how the world’s economies work more transparent, more productive, completely auditable, regulated, but less expensive.”

O’Leary is a vocal proponent of Web3 technology as a spokesperson for cryptocurrency exchange FTX and an investor in financial technology company Circle, the issuer of the USDC stablecoin and the organizer of the Converge22 conference.

Abu Dhabi’s virtual assets regulator First MENA regulator to allow NFT trading

Abu Dhabi’s virtual assets regulator First MENA regulator to allow NFT trading

UAE virtual asset regulator in Abu Dhabi,  FSRA (Financial Services Regulatory Authority) of ADGM ( Abu Dhabi Global Market) has enhanced its capital markets framework, allowing for the trading of NFTs  (Non Fungible tokens) on virtual asset regulated platforms, This means that MTFs/Custodians (Multilateral trading Facilities) operating within ADGM are now able to seek approval from the FSRA to engage in Non-Fungible Token (NFT) activities.

As per the news, these are considered significant enhancements to its capital markets framework, across spot commodities, securities, derivatives, benchmarks, environmental instruments and virtual assets that will further improve on its innovative and progressive regime and leadership in financial markets.

Alongside its innovative approach to virtual assets, the ADGM has now implemented its regulatory framework for spot commodity and environmental instrument activities, making it the first international financial centre in the MENA region to do so

Ahmed Jasim Al Zaabi, Chairman of the ADGM, said, “The ADGM wishes to thank all those who responded to the consultation paper released earlier this year. The degree of interest shown in the consultation, as well as the keen interest by participants looking to undertake activities in these significant new areas, is hugely positive. Collectively, the ADGM and its market participants continue to provide regulatory and industry leadership, positioning the ADGM and Abu Dhabi as the jurisdiction of choice. These enhancements to our capital markets framework will unlock the next stage of investment and growth opportunities, across commodities, environmental instruments, virtual assets activities and wider financial markets.”

Prior to this announcement, ADGM’s FSRA had also announced that stablecoins could now be traded on virtual asset platforms. As they stated, ADGM will only permit those tokens where price stability is maintained by the issuer holding the same fiat currency it purports to be tokenizing on a fully backed 1:1 basis. This therefore currently prevents the use within ADGM of other types of stablecoins, such as algorithmic stablecoins.

While VARA (Virtual Assets Regulatory Authority) based out of Dubai continues to license virtual asset exchanges such as Binance with full licenses, it has yet to set its framework for the regulation of NFTs or stablecoins.

Despite this the UAE remains one of the most advanced virtual asset regulated hubs globally.

Abu Dhabi investment firm ADQ launches $200 million fund for Digital assets Fintech, and supplychain

Abu Dhabi investment firm ADQ launches $200 million fund for Digital assets Fintech, and supplychain

Abu Dhabi’s ADQ and Further Ventures, an investment firm back by ADQ have launched a $200 million fund focused on Fintech, digital assets and supplychain.

As per the news, entrepreneurs and experienced executives who choose to launch their next venture with Further will have access to product and engineering resources for concept development; seed capital required to take the business to Series A; and reserved capital for following on through multiple rounds of funding beyond capital investment.

Further ventures also has a dedicated team that provides legal and regulatory support, talent sourcing and recruitment, operations, and business development expertise with access to some of the largest organizations in the Middle East and North Africa (MENA) region as well as venture builders globally, as part of Further’s extensive network.

Further is focused on building, digital asset payments products, blockchain asset custody, security solutions, marketplaces, wallets and other infrastructure for institutions. In addition to Fintech, such as wealth management, SME finance, financial inclusion, remittance, and payroll .

Finally they will focus on supply chain examples of which include digital freight and warehouse management companies and other supply chain-related business.

In addition to launching its own ventures with founders, the firm will also establish the Further Network by actively investing in and co-creating start-ups with leading global venture builders.

Arab Super Star Singers to hold the first ever concert in the metaverse

Arab Super Star Singers to hold the first ever concert in the metaverse

Moroccan Arab singer, dubbed “Al Mualem”, meaning the teacher, Saad LAMajarred and Arab Super star Ragheb Alama will be holding the first ever Arab joint music concert in the metaverse.

The two well renowned Arabic singers announced that they would be holding their upcoming concert in the metaverse in collaboration with famous Arab composer Michel Fadel.

The concert will be held on the 20th of October 2022, organized by Metaboundless. Metaboundless is a Web3.0 platform that connects creators and creator IP with fans to produce and scale creator content. MetaBoundless in partnership with Karma Return Opportunities, a regulated Web3.0 asset manager run helps creators generate attractive returns while preserving capital.

Tickets will be sold in the form of NFTs (Non Fungible tokens). A tutorial on how to purchase the tickets is present on the Metaboundless website.

Blockchain platform AlGorand is the exclusive blockchain partner for the event along with famous Arab Cartoon NFT collectibles, the Crypto Arabs as community sponsors.

Ragheb Alama, Saad La Mjarred and Michel Fadel will be present at the concert through their avatars.

Ragheb Alami on twitter stated, “I have dreamt to be able to communicate directly with all my fans anywhere, anytime and with every generation, and after months of work with MetaBoundless, we are now able to make this a reality. It is now time to enjoy this technologically advanced and different project. Be with us on the 20th of October at 11 pm where we will for the first time hold a futuristic concert in the metaverse with my Avatar.”

Saad Al Mjarred also took to Twitter and stated, “I have always dreamed of being able to perform live with all of you globally together. MetaBoundless

 is making that dream a reality. Together we Step into the Metaverse, a worldwide virtual performance.”

I am pleased to be participating with the Star Ragheb Alameh in this concert. We will be showcasing new music and songs in a futuristic way that goes with the environment in the metaverse.”

It is noteworthy that prior to this in July 2020, Nancy Ajram released her new song in the metaverse. She had announced that she would be launching her new song “Sah Sah” in the metaverse. Tickets were sold in crypto for the first time in the Arab world.

eToro receives crypto investment broker in principle approval from Abu Dhabi’s ADGM

eToro receives crypto investment broker in principle approval from Abu Dhabi’s ADGM

eToro,  social investment networks  has received an In-Principle Approval to operate as a securities, derivatives and crypto broker in Abu Dhabi, UAE.

The Financial Services Permission from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM), approval will enable eToro to establish a base from which to offer its services to customers across the region.

 

eToro allows users to view other investors’ portfolios and statistics, and interact with them to exchange ideas, discuss strategies, and benefit from shared knowledge. Users can hold traditional assets such as equities, currencies, ETFs, or commodities, alongside newer assets like cryptoassets. eToro also offers its users a choice of how to invest, as users can trade directly themselves, invest in a portfolio, or replicate the investment strategy of other investors on eToro’s platform at no extra cost, with a single click.

Arvind Ramamurthy, Chief of Markets at ADGM, said, “We are pleased that eToro has been awarded an In-Principle Approval by the ADGM and are excited to support them as they work towards establishing their foothold and presence in Abu Dhabi, the capital of the UAE. ADGM is the largest regulated jurisdiction of virtual assets in the MENA region and eToro’s participation will add to its vibrant and trusted ecosystem of virtual asset trading venues, global exchanges and service providers.ADGM will continue to actively expand the business offerings and unlock new investment opportunities in the UAE, and enable investment platforms partners like eToro to support the growing financial needs of the investors and businesses across the region.”

 

Jason Hughes, Senior Executive Officer, UAE at eToro said, “This is an important milestone for eToro. The UAE has one of the most vibrant fintech landscapes in the Middle East, and Abu Dhabi one of the most sophisticated regulatory frameworks for digital assets. We’re incredibly proud to be joining this ecosystem. We look forward to working with the ADGM to obtain our full licence, and, in turn, expanding our services to investors in the UAE and further afield. We recently opened our office in Abu Dhabi to support this expansion and are looking forward to growing the team locally.”

George Naddaf, Regional Manager, UAE at eToro concluded, “eToro’s goal is to provide more people with access to financial markets. With the full licence in place, more investors in the Middle East will gain access not only to global markets, but also a wealth of educational content and the opportunity to share knowledge and discuss their strategy with our community of global investors. We are looking forward to working with our prospective clients and partners in the region.”

Select UAE Local bank customers can now trade with Binance in Dubai

Select UAE Local bank customers can now trade with Binance in Dubai

Binance, crypto exchange has received its Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). Local bank clients approved by VARA will be able to utilize the Binance platform. Users will benefit from higher consumer protection levels because Binance is now a fully regulated platform in Dubai.

Binance is now able to open a client money account with a UAE local bank and provide services to qualified customers. Services include, virtual asset exchange services, conversion between virtual assets and fiat currencies, transfer of virtual assets, custody and management of virtual assets, virtual token offering and trading services and virtual assets payments and remittance services

His Excellency Helal Saeed Almarri, Chairman of VARA said, “We are pleased to have Binance licensed to operate within the VARA MVP Programme. The VARA regime aims to strike an effective balance between value creation and risk mitigation, enabling open market innovation while assuring protection for the economically vulnerable. The MVP Phase, is designed for select global players across the value chain, that are committed to responsible industry participation and VARA looks forward to Binance being an active contributor, reinforcing Dubai’s commitment towards creating a next-gen secure ecosystem for this future economy.”

Changpeng Zhao (CZ), founder and CEO of Binance, commented: “At Binance we welcome regulations that are globally consistent, enable responsible innovation, protect users, and give them choice. VARA’s unique operating model is setting a benchmark for the global industry, and this most recent registration is an acknowledgement of our compliance and safety processes in the new regulatory framework.  We strongly believe there is a significant opportunity to work with our industry peers to develop consistent implementation standards around the world as we have been doing in Dubai.”

Alexander Chehade, Binance Dubai General Manager, noted: “Our registration in Dubai is a reflection of the country’s progressive stance on blockchain technology and its willingness to embrace this sector through collaboration. We look forward to continued partnership as we build upon our team and operations in Dubai to roll out additional services including local banking capabilities and enhanced products.”

University of Sharjah to preserve UAE culture with Blockchain Metaverse system

University of Sharjah to preserve UAE culture with Blockchain Metaverse system

UAE University of Sharjah has launched a research project aimed to develop a blockchain metaverse system to preserve the UAE culture and heritage. Working with BSV Blockchain Association, the University of Sharjah plans to retain ownership of UAE culture in the form of digital assets, and then develop an NFT and physical marketplace where users can exchange physical originals as well as NFTs all in a metaverse environment.

Prof. Maamar Bettayeb, Vice Chancellor for Research and Graduate Studies at The University of Sharjah noted that this was a very pragmatic use case utilizing technologies such as Blockchain, metaverse and NFTs. He states, “The University is serving the community and UAE’s national economy by implementing the vision of the Emirate of Sharjah as well as the UAE in documenting and preserving our history and heritage in both tangible and intangible formats.”

 Mr. Jimmy Nguyen, Bitcoin Association for BSV Founding President, added “We are very excited and pleased with the partnership with a premier institution in the UAE such as the University of Sharjah to develop an innovative solution that utilizes the latest technologies to preserve the nation’s values and history in UAE and the region. Launching a new start-up will help in creating many jobs for the new technology graduates and create new economy for trading antiques, historic and modern artworks in a digital format and in virtual marketplace as NFTs”.

Dr. Mohamed Al Hemairy, the leading researcher at the University of Sharjah explained, “UAE has a very wealthy culture and human heritage, characterised by numerous physical inheritances. Yet new generations and expatriates don’t know much about it, that is why we researched how we could deploy Blockchain to preserve the intellectual property and ownership of the Emirati’s Families inherited treasures and to design a virtual art gallery for the Arabic and Islamic culture, heritage, antiques, historic and modern artworks in a state-of-the-art digital format. These would be digitized in the form that would retain its intellectual property through Non-Fungible Tokens [NFT].”

The heritage and culture of the UAE will be in a virtual art gallery in the Metaverse built on BSV Blockchain.  

Mr. Muhammad Anjum, the Head of the BSV Hub for MESA, commented “Developing relationships and supporting the academic institutions is a key goal of our regional BSV Hub and an impactful way that the blockchain technology can grow in the Middle East. The University of Sharjah has brought a very strong use case to utilize the powerful features of the BSV blockchain. The Dubai Metaverse Strategy is an innovative initiative and a key step towards making UAE the first country in the world in the field of adoption and use of the metaverse. We are confident that we will see numerous engagements between BSV Ecosystem, and the University of Sharjah soon.”

Animoca Brands The Sandbox to bring its metaverse to Dubai UAE

Animoca Brands The Sandbox to bring its metaverse to Dubai UAE

Animoca’s brand, the Sandbox announced during the 62 edition of the True Global Ventures Conference that it will be bringing its metaverse strategy to Dubai, with the ‘Dubaiverse’. It will work with local partners including Khaleej Times media outlet. 

Animoca Brand’s Dubai-themed metaverse will follow the blueprint of its subsidiary Sandbox’s Hong Kong “Mega City,’ a gaming metaverse and virtual cultural hub based on the Asian financial hub of Hong Kong.

As per the news on Forkast, the  Dubaiverse will be built through local partnerships, In doing so, the Hong Kong-based blockchain game specialist will partner with firms in the film, music, entertainment, acting, finance, real estate, and gaming industries.

Sebastien Borget, cofounder and chief operating officer (COO) of Sandbox Paris, added, “Other planned location-based metaverses are in the works for Singapore, Korea, and Turkey.”

Dubai’s virtual asset regulator was the first regulator in the world to purchase a piece of land in Sandbox. Borget noted, “It’s been a key moment, and from there, we’ve been able to attract other major local partners and brands.”

Mehtap Onder, Managing Director for Dubai at GCEX, a digital brokerage firm, said they will also enter Animoca’s metaverse, offering virtual asset education in a way that couldn’t be accomplished before. 

The Dubaiverse will also have a local news partner, in Khaleej Times following a similar partnership between Hong Kong’s Sandbox and local newspaper the South China Morning Post.

“As publishers, business models are being challenged all over the world, and new business models come into this space, it’s a really important strategic move for us,” said Sohail Nawaz, Chief Digital Officer of Khaleej Times. 

True Global Ventures with a presence in the UAE announced its total investments in Animoca Brands have reached US$38 million.

Lawrence Summers, previous US Secretary of Treasury showcases his views on Crypto and Blockchain at UAE AIM summit 2022

Lawrence Summers, previous US Secretary of Treasury showcases his views on Crypto and Blockchain at UAE AIM summit 2022

Lawrence H. Summers, the renowned American economist who served as the 71st United States Secretary of Treasury from 1999-2001 under Bill Clinton, as well as the Director of the National Economic Council from 2009 to 2010 under Barack Obama, will be offering his insights into the global economy and financial markets as well as his views on crypto and Blockchain during the 13th edition of AIM Summit being held on the 21st and 22nd of November 2022 in Dubai UAE.

AIM Summit is the region’s leading forum for providing insights on investment developments and global market conditions. This year, special emphasis is placed on the current global economy, inflation, stagflation and recession. Summers will provide his views on why the U.S. will likely be headed into a recession within the next two years. Summers will discuss how globalization, trade, and technology will play a pivotal role in the future of the global economy.

In 2021, Summers repeatedly called out the potential for inflation in U.S. while the U.S. Federal Reserve and many economists viewed rising prices as transitory.

Commenting on his participation at AIM Summit, Summers states, “Investors in alternative assets must navigate a challenging macroeconomic environment today and anticipate how it will impact their portfolios tomorrow. At the AIM Summit in Dubai, I will address some of the most pressing questions investors should be asking – will the Fed’s newfound hawkishness lead to a painful recession, or will they engineer a soft landing? Will we return to the post-2009 era of secular stagnation, or a new paradigm? Will prognostications of China’s economy overtaking America’s prove similar to those of Russia and Japan, which look ridiculous today?”

Raha Moradi, Chief Executive Officer of AIM Summit stated, “We are honoured as organizers of AIM Summit to be welcoming a well renowned economist and top U.S. ranking official such as Lawrence H. Summers. His views on U.S. and global inflation, recession, and world policies will offer our audience valuable information that will benefit their policies and strategies moving forward. Investors and policy makers alike across the GCC ad MENA region are invited to join us as we hear Summers’ predictive insights.”

The AIM summit gathers and connects investors within hedge funds, private equity, venture capital, digital assets, FinTech with global industry leaders. This year the Summit will cover topics pertaining to portfolio construction, emerging markets, frontier markets, private credit, hedge funds, the future of digital assets, NFTs, metaverse, crypto mining, ESG, impact investing and Web 3.

Audiences will also hear Summers’ views on crypto and Blockchain. Lawrence Summers, is currently an advisor for Digital Currency Group and a board member of Block.Inc, He is also well versed on the topics of cryptocurrencies, stablecoins and CBDCs. In previous events and interviews, he has espoused his belief that cryptocurrencies will do better when regulated in a sound way. He has touted crypto as being one of the most important innovations of this period akin to Digital Gold, and praises stablecoins yet believes global digital currencies are still at a nascent stage.