#Blockchain Development Companies in Peninsula

[sharmisthaseo]

 Shipping from Dubai

Shipping from Dubai is a major component of global trade, given the city’s strategic location and its status as a leading hub in the Middle East for logistics and maritime activities. The city has developed an extensive and efficient infrastructure that supports a wide range of [for more information visit حمل لنج ی از دب] shipping activities, making it a pivotal gateway for goods traveling between Asia, Europe, Africa, and beyond.

1. Geographic and Strategic Importance

Dubai's geographic location on the Arabian Peninsula makes it an ideal transshipment point for goods moving between the East and West. It sits at the crossroads of major global shipping routes, allowing for the efficient movement of goods by sea, air, and land. This strategic positioning, coupled with its proximity to emerging markets in the Middle East, Africa, and South Asia, has made Dubai a critical node in the global supply chain.

2. Port Infrastructure

Dubai is home to some of the world’s most advanced and busiest ports, the most notable being Jebel Ali Port. Jebel Ali is the largest man-made deep-water harbor in the world and the busiest port in the Middle East. It is capable of handling massive container ships and offers a wide range of services including cargo handling, warehousing, and logistics support. The port’s connectivity to over 140 ports worldwide and its capacity to handle millions of TEUs (twenty-foot equivalent units) annually makes it a cornerstone of Dubai’s shipping industry.

3. Shipping Services

Dubai offers a full spectrum of shipping services, including container shipping, bulk shipping, breakbulk shipping, and specialized shipping for oversized or hazardous cargo. Major international shipping lines operate from Dubai, providing services to virtually every corner of the globe. The city also supports a robust network of freight forwarders, logistics companies, and shipping agents that facilitate the smooth movement of goods.

4. Air Freight

In addition to sea freight, Dubai is a major hub for air freight, centered around Dubai International Airport (DXB) and Al Maktoum International Airport (DWC). DXB is one of the busiest airports in the world by international cargo traffic, while DWC, designed with cargo in mind, is set to become the world’s largest airport by area. These airports offer extensive cargo services, including handling, storage, and customs clearance, ensuring fast and efficient shipping by air.

5. Customs and Regulatory Environment

Dubai’s customs and regulatory environment is designed to facilitate trade while ensuring compliance with international standards. The Dubai Customs authority plays a critical role in this, offering efficient and transparent processes for import and export activities. The city’s Free Zones, such as Jebel Ali Free Zone (JAFZA), Dubai Airport Free Zone (DAFZA), and Dubai South, provide further incentives for businesses, including tax exemptions, 100% foreign ownership, and streamlined customs procedures.

6. Innovation and Technology

Dubai’s shipping industry is at the forefront of adopting new technologies to enhance efficiency and reduce costs. The use of blockchain technology, artificial intelligence, and the Internet of Things (IoT) is becoming increasingly common in the logistics and shipping sectors. For example, Dubai Customs has implemented blockchain for tracking goods, reducing paperwork, and enhancing transparency. Additionally, smart ports initiatives, such as automated cranes and drones for inventory management, are improving operational efficiency.

7. Challenges

Despite its many strengths, shipping from Dubai is not without challenges. The cost of shipping can be high, particularly for air freight. Additionally, fluctuations in global trade dynamics, such as tariffs, trade wars, or economic sanctions, can impact the flow of goods through Dubai. The city also faces competition from other regional hubs, such as Singapore and Hong Kong, which are investing heavily in their own logistics infrastructure.

Another challenge is the environmental impact of shipping. With growing global concern about climate change, there is increasing pressure on the shipping industry to reduce its carbon footprint. Dubai is taking steps to address this through initiatives aimed at reducing emissions, promoting the use of cleaner fuels, and enhancing the sustainability of its ports and logistics operations.

8. Future Outlook

The future of shipping from Dubai looks promising, as the city continues to invest in its infrastructure and embrace technological advancements. The ongoing expansion of Jebel Ali Port and the development of Al Maktoum International Airport are expected to further enhance Dubai’s capacity as a global logistics hub. Additionally [for more information visitحمل  لنجی از دبی , Dubai’s strategic initiatives, such as the Dubai Silk Road Strategy, aim to boost trade and logistics capabilities by linking Dubai more closely with key international trade corridors.

Dubai is also positioning itself as a leader in sustainable shipping practices. The UAE’s commitment to achieving net-zero emissions by 2050 is likely to drive further innovation in the shipping industry, including the adoption of green technologies and alternative fuels.

Conclusion

Shipping from Dubai is a complex and dynamic sector that plays a crucial role in global trade. With its world-class infrastructure, strategic location, and forward-thinking approach, Dubai is well-positioned to remain a leading hub for shipping and logistics in the coming years. However, the industry must continue to evolve in response to global challenges, including economic shifts, environmental concerns, and technological advancements. By doing so, Dubai can maintain its competitive edge and continue to serve as a vital link in the global supply chain.

[exyot]

Desert Logistics: Revolutionizing Supply Chains in Saudi Arabia

In the heart of the Arabian Peninsula lies a land of vast deserts and burgeoning economic potential – Saudi Arabia. While the Kingdom has long been synonymous with oil production, its vision for the future extends far beyond petroleum. One of the most crucial aspects of this vision is the transformation of logistics, an industry pivotal to the efficient movement of goods and services, both domestically and internationally logistics company in Saudi Arabia

Saudi Arabia's logistics sector has historically faced challenges due to its vast desert landscapes and its geographical positioning. However, these challenges have sparked innovation and investment, leading to the emergence of cutting-edge logistics solutions that are reshaping the industry. The concept of "Desert Logistics" encapsulates this evolution – it represents the adaptation and optimization of supply chain processes to thrive in arid environments.

Central to Desert Logistics is the utilization of advanced technology and infrastructure development. Saudi Arabia has been investing heavily in modernizing its transportation networks, including roadways, railways, and ports, to facilitate smoother movement of goods across the region. Additionally, the integration of technologies such as blockchain, IoT (Internet of Things), and AI (Artificial Intelligence) has enhanced transparency, efficiency, and security within supply chains.

Moreover, strategic partnerships and collaborations with global logistics leaders have played a crucial role in transferring expertise and best practices to the Kingdom. These partnerships have facilitated knowledge exchange and capacity building, enabling local companies to adopt world-class standards in their operations.

Furthermore, Saudi Arabia's ambitious economic diversification initiatives, such as Vision 2030, have catalyzed the growth of non-oil sectors, driving increased demand for efficient logistics services. This has created opportunities for both local and international logistics providers to establish a presence in the Kingdom and contribute to its economic transformation.

Desert Logistics represents a paradigm shift in the way supply chains operate in Saudi Arabia. Through innovation, investment, and strategic partnerships, the Kingdom is revolutionizing its logistics industry, paving the way for enhanced connectivity, competitiveness, and economic prosperity in the region and beyond air cargo companies in Saudi Arabia

[kisan0318]

Casino Market Size Outlook, Share Value, Global Growth Drivers and Industry Forecast to 2027

Overview

The casino market is projected to grow at a CAGR of 7% during the forecast period. As per the casino market research report, the global market for casino is projected to grow swiftly by US$480 million by 2026 According to analysts, popularity of online gambling as well as blockchain based online casinos will drive the market growth during the forecast period. The casino market research report offers a comprehensive analysis of the global casino market and its type and regions segments. The cyber attacks on online casinos along with security risks and legal hurdles are the elements that could influence the casino market advancement throughout the forecast period. The casino market research report by expert analysts is developed to assist organizations in the casino market.

Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/10106

Market Segmentation

The global casino market has been segmented based on type and regions. On the basis of type, the market for casino is segmented based on blackjack, craps, lottery, roulette, slot machines, and poker. Major elements such as complex gambling laws in certain countries could obstruct the casino market growth. However, according to the casino market research report, VR based gaming along with ease of transactions will propel growth throughout the forecast period. The casino market is set to register growth at a high CAGR owing to these key factors. The exploration of type and regions segments along with regional markets has been given in the global casino market research report. The research analysts studying the casino market have put out market forecasts in the casino market research report in order to support casino market-based companies. The casino market research report provides an extensive understanding of the casino market based on the information and forecasts till 2026.

Regional Overview

North America, Europe, Asia Pacific and the rest of the world regional market for casino are predominantly covered in the global casino market research report. Country-level casino markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level casino markets are covered in the report. In Asia-Pacific (APAC) region, the country-level casino markets covered are Japan, India, China, and others. The casino market research report also explores the regional market for casino present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The casino market research report also covers regional markets from the rest of the world alongside casino markets of Africa and the Middle East.

Competitive Landscape

The success of VR based slot machine games are presumed to drive the casino market growth worldwide. The global casino market could be challenged by the rising prevalence of cyber attacks on gambling sites, nevertheless, organizations in the casino market will carry the growth rate forward. The casino market research report presents company profiles of major companies active in the casino market globally. Furthermore, the global casino market report offers an all-inclusive analysis of the market collected from the casino market’s primary and secondary sources covering both decision makers and thought leaders. The casino market research report highlights such key areas assisting businesses operating in the casino market to build better growth strategies.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/casino-market-10106

Industry News

The license holder for a casino in northeast Louisiana is considering a move to southeast Louisiana, where he plans to establish a casino and resort in southern Louisiana for $250 million. The Times-Picayune/The New Orleans Advocate reports that Peninsula Pacific Entertainment, also referred to as P2E, based in Los Angeles, says it has begun talks with officials in St. Tammany Parish about the project. There are numerous legal hurdles facing the project. For example, the voters of St. Tammany would have to reverse a referendum in 1996 in which they rejected casinos and video poker. To place such a bill on the ballot, the Legislature will have to pass.

About Market Research Future:

At Market Research Future (MRFR), we enable our clients to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Solutions, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact

Market Research Future

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Magarpatta Road, Hadapsar,

Pune – 411028

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Email: sales@marketresearchfuture.com

[thesecrettimes]

Binance to Assist South Korean Metropolis of Busan Develop Crypto Adoption, Develop Blockchain Ecosystem

Binance is helping the South Korean city of Busan “grow crypto adoption within the city and beyond.” The global crypto exchange will also support the development of the city’s blockchain ecosystem and the Busan Digital Asset Exchange.

Binance Signs MOU With Busan City

Cryptocurrency exchange Binance announced Friday that it has signed a Memorandum of Understanding (MOU) with Busan Metropolitan City. Busan, located on the southeastern tip of the Korean peninsula, is the second largest city in South Korea with approximately 3.4 million residents. “As part of the agreement, the city of Busan will receive technological and infrastructure support from Binance for the development of the city’s blockchain ecosystem and promotion of the Busan Digital Asset Exchange,” Binance explained. “Another form of cooperation between the two parties will be order book sharing,” the company added, noting that it will be establishing a presence in Busan by the end of the year. Binance CEO Changpeng Zhao (CZ) said: “We are happy to be working with the city of Busan to bring tangible blockchain-related developments that benefit and support the city’s innovation efforts.” The executive opined: Through our industry-leading position and technological expertise, combined with the city of Busan’s strong support for the blockchain industry, we hope to help grow crypto adoption within the city and beyond. “We look forward to our close cooperation with the city to support the establishment of digital asset exchanges and various blockchain industries,” Zhao added. The mayor of Busan, Heong-Joon Park, commented: With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as a global integrated platform for digital assets. “By making Busan a blockchain-specialized city that is attracting worldwide attention, we will boost a new growth engine for the local economy and make it a global digital finance hub,” he further said. What do you think about Binance working with the city of Busan to grow crypto adoption? Let us know in the comments section below. Read the full article

[wiseguyreport1221]

Casino  report provides a detailed analysis of global market size, regional and country-level market size, segmentation, market growth, market share, and competitive landscape.

[anettrolikova]

Blockchains are virtual cities: districts of economic and cultural exchange, where common infrastructure gives rise to a mutual sense of place and a shared social fabric.

While cities for an imaginary civilization can be built in the middle of nowhere, this isn’t how we should go about making a place we want to live.

Connected globally by shipping lines and trade-routes, airports and distribution centers, they are caught in a perennial ebb and flow of sovereignty and hegemony, isolation and interconnection.

You’ll find port cities where the trade winds empty into new worlds, on peninsulas and river deltas where oceans meet inland waterways. From there, trade routes form; markets where merchants exchange spices for silk and maps for navigating the stars. Port cities are where distant cultures and economies and imaginations come together as dynamic, vibrant living spaces.

The Cosmos Hub is one such port city, with trade routes to the largest blockchain economies. It’s a city that’s enriched by connection. A city that supports those with whom it connects. Rather than impose a political and economic system onto its inhabitants, the Hub competes on even footing to provide the best possible service. It does so by attracting the best validators, merchants, developers, and blockchains who want to form connections, exchange, and participate, whether it’s establishing themselves on the Hub, or simply passing through.

A city that has a vibrant economy and unique culture; a good quality of life, opportunities for newcomers; a place people are proud to live because its rich history is something they want to be a part of. New York, Hong Kong, Istanbul: these are cities that people fall in love with. Their ports receive people who cross oceans to find inspiration and possibility—places where they find community, a sense of pride, and civic responsibility.

A hub isn’t a kingdom, but a port city. It’s not a central bank, but a clearing house. It’s not an ISP, but an exchange point. It’s not an airline, but an airport. A good hub isn’t a ruling dictator, but a servant leader.

A self-improving social and technical infrastructure will enable the Hub to become a nexus for a wide variety of individuals, collectives, companies, institutions, DAOs, and autonomous agents to work together, aligning incentives toward a common goal.

[coin-river-blog]

SWIFT, the 11,000-member global payments network, has announced a partnership with enterprise blockchain consortium R3, and the news is already being felt in the cryptocurrency market where the rusty gears of the ripple (XRP) rumor mill have begun to turn at a rapid pace.

SWIFT Goes Blockchain with R3 Trial

According to the announcement, SWIFT and R3 have developed a proof of concept that links SWIFT’s GIP payments network with R3’s Corda platform to monitor payment flows, settle gpi payments through their bank, and receive credit confirmations. The groups will publish the results of the trial in September.

XRP bulls responded with rabid enthusiasm to the news, speculating that R3’s alliance with San Francisco-based crypto startup Ripple — past multi-billion dollar legal disputes having been swept under the rug — provides XRP with its best bet to achieve adoption by SWIFT, the financial industry’s white whale.

Here’s one emblematic tweet:

Jan 30, 2019

SWIFT CEO Gottfried Leibbrandt said:

💥💥💥💥💥

“Later today we are announcing integration with R3.”

💥💥💥💥💥#xrp #xrpcommunity #xrpthestandard #xrparmy #0doubt https://t.co/gq4uBqJdP4

— ༜༝🅂🅃🅄🄰🅁🅃🅇🅁🄿💧⚡ (@stuart_xrp) January 30, 2019

And here’s the ripple price chart:

The ripple markets attracted a wave of buy orders following the SWIFT-R3 partnership announcement.

Re-Kindling the Ripple Rumor Mill

Absent from the announcement, of course, was any clear statement that the Ripple company would play any role in that partnership, much less introduce its XRP cryptocurrency to the SWIFT network of financial institutions. However, Ripple bulls have a lengthy track record of letting their hopes and dreams get the best of them.

The classic example of this is the yearslong tweet-writing campaign intended to persuade US cryptocurrency exchange giant Coinbase to list ripple.

It’s remarkable how many times the ripple price has rallied on mere speculation that Coinbase would list XRP, only to see those rumors quashed — and the exchange add support for other assets instead.

In another striking example from late summer 2017, the ripple price exploded on rumors that an upcoming conference would see Ripple announce a major partnership with a South Korean bank. On what was this rumor based? A logo in the teaser video, when turned sideways, looked a tiny bit like the Korean peninsula.

Korea? #XRP $XRP #Kakao pic.twitter.com/kE7mMkfmqu

— Blockstradamus (@blockstradamus) August 22, 2017

Granted, we all got a little ahead of ourselves during the 2017 crypto market bull run, but that seemed excessive even at the time.

Why this Ripple Rumor Might be Different

Embarrassing anecdotes aside, it’s true that there’s a bit more meat to this rumor than others that have been circulated by the #XRPArmy, and not just because XRP has already been integrated into one R3 product.

SWIFT CEO Appears to Praise XRP

Speaking during the panel session, SWIFT CEO Gottfried Leibbrandt appeared to heap praise on ripple, at least to a greater extent than one would expect.

“I think that the big part of Ripple’s value proposition is the cryptocurrency XRP,” Leibbrandt said. “There we do find the banks are hesitant to convert things into a cryptocurrency right now because of the volatility in the currencies.”

Still, Leibbrand is stepping down from SWIFT in June following a seven-year tenure as CEO, so ripple bulls should probably avoid hanging too many of their hopes on his single statement affirming the importance of XRP to Ripple’s blockchain offerings.

Proof of Concept Will Feature Corda Settler

More importantly, though, R3 recently made XRP the first cryptocurrency available through its Corda Settler product, as CCN reported. And while SWIFT’s statement did not explicitly mention Corda Settler, R3 CEO David Rutter name-dropped it in the press release.

Following the recent launch of our Corda Settler, allowing for the payment of obligations raised on the Corda platform, it was a logical extension to plug into SWIFT GPI. SWIFT GPI has rapidly become the new standard to settle payments right across the world. All the blockchain applications running on Corda will thus benefit from the fast, secure and transparent settlement provided through the SWIFT gpi banks.

More tellingly, R3 tweeted that the partnership will “integrate gpi with Corda Settler.”

We are excited to announce our partnership with @swiftcommunity to integrate gpi with Corda Settler. @Cordablockchain https://t.co/FyEJScr0j8

— R3 (@inside_r3) January 30, 2019

Again, no direct mention of Ripple or XRP, but it’s not a huge leap to speculate that the proof of concept — or a future trial — could see SWIFT dabble in cryptocurrency settlement.

Brad Garlinghouse Present at Announcement

Could this, along with the fact that Ripple CEO Brad Garlinghouse participated in the panel where SWIFT and R3 made the announcement, be a hint that there’s more going on beneath the surface than initially meets the eye? Perhaps, but then again, perhaps Coinbase will list XRP tomorrow.

In the meantime, investors must gamble whether Ripple can leverage its relationship with R3 to convince banks to take the plunge into cryptocurrency via the Corda Settler platform. The #XRPArmy, for its part, will continue to respond to Coinbase tweets with that oh-so-familiar refrain:

“When XRP?”

Featured Image from Shutterstock. Price Charts from TradingView.

[bowsetter]

Isle of Man Updates Registration Rules for Cryptocurrency Businesses

The financial regulator of the Isle of Man recently introduced changes to its policy governing the registration of companies in the cryptocurrency industry. The British Crown dependency in the Irish Sea is also tightening rules applicable to projects that conduct initial coin offerings (ICOs).

Also read: Vietnam at Crossroads on Cryptocurrency Regulations

Financial Authority Adopts Stricter Requirements

Cryptocurrency companies filing for registration under the the self-governing territory’s Designated Businesses Act 2015 will be required to meet two new criteria. The updated policy states that companies must have at least two directors who are residents of the island. In addition, registered entities must be managed and controlled from the Isle of Man.

The new rules are designed to improve the oversight of businesses involved in cryptocurrency-related activities, Mondaq reported. The Isle of Man Financial Services Authority (Iomfsa) believes that companies that are managed outside its jurisdiction or those that do not maintain a sufficient presence in the territory pose an “unacceptably high risk” of illegal activities such as money laundering or terrorist financing.

“In order for the Iomfsa to be able to successfully undertake its statutory duty of overseeing compliance of designated businesses with the AML/CFT legislation, designated businesses must have sufficient real presence to facilitate oversight,” the regulator further explained.

The updated registration policy, which has been enforced since early October, also concerns the issuers of digital tokens. Iomfsa has made it clear that it would refuse to register businesses conducting ICOs unless they provide investors with a benefit other than the token itself. However, the regulator has not clearly defined the term “benefit,” nor has it clarified when the buyers of a token should receive it.

Europe’s Crypto-Friendly Destinations

The Isle of Man is among a growing number of European jurisdictions that are developing and implementing crypto-friendly legal frameworks. In September of last year, the British dependency announced “permissive” regulations tailored to encourage ICO projects and foster the growth of the industry built around them, as news.Bitcoin.com reported. The island authorities have also expressed their positive attitude toward other cryptocurrency and blockchain businesses.

Gibraltar, a British Overseas Territory located on the southern tip of the Iberian Peninsula, is another good example. Over the last few years, the local authorities have been trying to tap into crypto incomes and profits. In order to do that, they have adopted legislation designed to attract crypto companies. Gibraltar, which is known as a financial services and online gaming hub, became the first jurisdiction on the Old Continent to comprehensively regulate ICOs and digital ledger technologies, while protecting digital asset investors. A number of businesses in the space have already launched operations there.

Many cryptocurrency companies, including well-known names such as Binance and Okex, have also established offices in Malta. This year, the EU member state adopted new laws designed to introduce clear regulations for the island nation’s growing crypto industry. Countries such as Switzerland, home of the “Crypto Valley” in Zug, and neighboring Liechtenstein — where banks are readily providing services to fintech businesses — are also considered among the leading crypto-friendly destinations in Europe and beyond.

What are your thoughts about the updated cryptocurrency regulations on the Isle of Man? Tells us in the comments section below.

Images courtesy of Shutterstock.

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The post Isle of Man Updates Registration Rules for Cryptocurrency Businesses appeared first on Bitcoin News.

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[crazypaperkryptonite-blog]

Artificial Intelligence Companies In California-DxMinds Technologies Inc

[thetechmedia1]

Shapoorji Pallonji is committed to Building New Age IT Campuses

S.C Dixit, Executive Director, Shapoorji Pallonji Engineering & Construction, explains how technology has helped the company in building some of India’s most modern IT campuses.

India has emerged as the leading IT sourcing destination across the world due to its high-quality talent pool. In recent years, owing to the industry’s core competencies and strengths, exports from the Indian IT/ITeS industry grew to record levels while domestic revenues have also advanced. The computer software and hardware sector in India has attracted huge Foreign Direct Investment (FDI) inflows and this led to the setting up of numerous delivery centers in India. Many global IT giants as well as Indian IT companies have set up new research and innovation hubs or are expanding in India.

Over the last two decades, Shapoorji Pallonji Engineering & Construction, an Indian construction company has consistently contributed to creating the IT offices infrastructure in India. In a recent exclusive interaction with TTM, S.C Dixit, Executive Director, Shapoorji Pallonji Engineering & Construction, explains how the Mumbai-based company has leveraged the latest tools and technology to build some of India’s most modern Software Development Centers and multi-tenanted IT Parks for a diverse range of clientele.

TTM: How is SP E&C supporting the Indian IT industry?

TTM.com/wp-content/uploads/2020/02/Peninsula-Business-Park-Mumbai-24×18.jpg 24w, https://www.TTM.com/wp-content/uploads/2020/02/Peninsula-Business-Park-Mumbai-36×27.jpg 36w, https://www.TTM.com/wp-content/uploads/2020/02/Peninsula-Business-Park-Mumbai-48×36.jpg 48w, https://www.TTM.com/wp-content/uploads/2020/02/Peninsula-Business-Park-Mumbai.jpg 600w” sizes=”(max-width: 300px) 100vw, 300px”>

Peninsula Business Park in Mumbai

S.C Dixit: SP E&C has built over 100 Software Development Centers and multi-tenanted IT Parks across all the major IT hubs of India such as Bengaluru, Hyderabad, Gurgaon, Pune, Mumbai, Chennai and Kolkata among others. These IT Grade A facilities ranged from 300,000 square feet development centers up to 8,000,000 square feet multi-tenanted IT Park at a single location. We are well-versed with various project delivery systems, including Design build, General Contracting and Conventional Contracting. As a company, we are flexible and engage with each one of our clients to understand the client’s unique needs and to arrive at the best procurement and project delivery strategy for the IT Office construction projects.

TTM: What is SP E&C’s USP in building current-day IT office construction building?

S.C Dixit: Over a period of time, our domain expertise in construction of IT Office spaces became the main reason for it to be the first choice for many IT companies. For example, we have adopted the design-and-build project delivery system to meet the demands of the current-day IT office construction projects. Along with design build, this system improves cycle times, reduces manpower dependence, reduces material wastage, and eliminates wasteful activities. This automatically brings in time and cost advantages to clients, besides improved safety and quality and greater chances of project success.

The IT Office spaces built by SP E&C on a Design Build basis include Intel SRR3 in Bengaluru, Ascendas One Hub in Gurugram, TCS Gitanjali IT SEZ at Kolkata (in 50:50 JV with L&T ECC), RBI Data Center at Mumbai and Reliance Corporate IT Park at Navi Mumbai, among others.

SP E&C’s focus on safety, quality and statutory compliance on its construction projects has been very well recognized by the industry and the company has won many awards for its performance. Our systems compliance also ensures that its clients focus on the critical commissioning activities and IT readiness instead of the office space construction. SP E&C has built many IGBC and USGBC-rated green IT office buildings and played a key role in India emerging as a global green champion. Our experience of having delivered 70 million square feet of built IT Office spaces till date using diverse Project Delivery Models and modern construction technologies is a testament of its capabilities.

TTM: Can you name some of your biggest achievements and why do you think those projects stand out?

TTM.com/wp-content/uploads/2020/02/Amazon-campus-hyderabad-24×18.jpg 24w, https://www.TTM.com/wp-content/uploads/2020/02/Amazon-campus-hyderabad-36×27.jpg 36w, https://www.TTM.com/wp-content/uploads/2020/02/Amazon-campus-hyderabad-48×36.jpg 48w, https://www.TTM.com/wp-content/uploads/2020/02/Amazon-campus-hyderabad.jpg 600w” sizes=”(max-width: 300px) 100vw, 300px”>

Amazon IT Services Park at Hyderabad

S.C Dixit: From the many successful projects, I can think of HCL Technologies IT SEZ at Bengaluru, Amazon IT Services Park at Hyderabad, Hexaware Technologies IT Park at Chennai, SAP Labs in Bengaluru, ONGC Headquarters at Dehradun, Oracle Tech Hub at Bengaluru and i-flex Park in Bengaluru, among other outstanding constructions.

All of these Tech Parks typically involved fast-track construction and large volume outputs of built-up areas, concreting, finishing works, façade and glazing, MEP Works, etc. Such achievements have been made possible with large-scale resources mobilization, advanced formwork systems, mechanized methods of construction and exemplary construction project management skills to meet the client expectations on construction safety, quality, timelines and not to forget, statutory and environmental compliances.

Many of our esteemed IT clientele such as DLF Group, Ascendas, RMZ group, Sattva Group, HCL Technologies, Wipro Technologies, Phoenix Group, etc., have repeatedly sought their construction services for their expansion needs at new geographical locations. SP E&C was instrumental in setting up twelve delivery centers for Tata Consultancy Services Ltd. across India.

TTM: What kind of new technologies have you leveraged in your construction projects?

S.C Dixit: The IT office buildings construction in India is also witnessing adoption of pre-engineered structural steel, precast concrete and composite building systems in a big way to overcome the challenges posed by the RCC way of design and construction. SP E&C is currently building around 20 million sq ft of IT office spaces in India that involve the use of pre-engineered structural steel. All of these projects are scheduled for completion progressively between 2020 and 2021.

SP E&C has begun incorporating new technologies into its projects, across all project phases like, design, preconstruction, construction, and operations and management. In the construction phase, on-site execution, digital collaboration, and back-office integration are being reimagined with the use of such digital solutions.

Digital Tools that support On-site execution – To enhance field productivity, safety monitoring and quality control.

Digital Tools that support Collaboration – For Design Management, Contract Management, Performance Management, Document Management

Digital Tools that support Back-office integration – Examples include Project monitoring enabled by drones and the Internet of Things; Predictive Analytics

TTM: What are your thoughts on data center parks as announced by the government in the recent Union Budget?

S.C Dixit: The recent announcements by the Government of India are likely to attract many investors and multinational data center operators to India. This will boost the demand for new data centers in India. We are actively pursuing construction opportunities in this sector.  Sterling & Wilson, a group company of the Shapoorji Pallonji Group, is engaged in the construction of Data Centers in India and abroad.

TTM: What is your technology roadmap in 2020 and beyond?

S.C Dixit: Emerging technologies now offer an entire new gamut of opportunities for top IT firms in India. Leading Indian IT firms and IT MNCs are diversifying their offerings and showcasing ideas in blockchain, artificial intelligence to clients using innovation hubs, R&D centers, in order to create differentiated offerings. Keeping up with these trends, we are creating new-age IT campuses and infrastructure.

We have adopted numerous tools for use across the project life cycle, ranging from design management to scheduling to safety monitoring. In the future, the company sees even more tools emerge, particularly for use related to field management and performance management. SP E&C is experimenting with new materials, building systems and methods of construction along with emerging project management trends that will change the way large projects will be delivered.

SP E&C is betting on greater investment in technology with a company-wide commitment to change. Above all, the company is altering fundamental aspects of its organizational structure, corporate culture, and IT systems, with the goal of seamlessly integrating new tools into construction. These new tools should enhance the output of our already experienced and capable human resources. With an impetus on design, technology, project management and customer satisfaction, we are future-ready and equipped to ensure seamless project deliveries for the IT Campuses of the new age.

  The post Shapoorji Pallonji is committed to Building New Age IT Campuses appeared first on TTM.com.

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[thesecrettimes]

Binance to Assist South Korean Metropolis of Busan Develop Crypto Adoption, Develop Blockchain Ecosystem

Binance is helping the South Korean city of Busan “grow crypto adoption within the city and beyond.” The global crypto exchange will also support the development of the city’s blockchain ecosystem and the Busan Digital Asset Exchange.

Binance Signs MOU With Busan City

Cryptocurrency exchange Binance announced Friday that it has signed a Memorandum of Understanding (MOU) with Busan Metropolitan City. Busan, located on the southeastern tip of the Korean peninsula, is the second largest city in South Korea with approximately 3.4 million residents. “As part of the agreement, the city of Busan will receive technological and infrastructure support from Binance for the development of the city’s blockchain ecosystem and promotion of the Busan Digital Asset Exchange,” Binance explained. “Another form of cooperation between the two parties will be order book sharing,” the company added, noting that it will be establishing a presence in Busan by the end of the year. Binance CEO Changpeng Zhao (CZ) said: “We are happy to be working with the city of Busan to bring tangible blockchain-related developments that benefit and support the city’s innovation efforts.” The executive opined: Through our industry-leading position and technological expertise, combined with the city of Busan’s strong support for the blockchain industry, we hope to help grow crypto adoption within the city and beyond. “We look forward to our close cooperation with the city to support the establishment of digital asset exchanges and various blockchain industries,” Zhao added. The mayor of Busan, Heong-Joon Park, commented: With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as a global integrated platform for digital assets. “By making Busan a blockchain-specialized city that is attracting worldwide attention, we will boost a new growth engine for the local economy and make it a global digital finance hub,” he further said. What do you think about Binance working with the city of Busan to grow crypto adoption? Let us know in the comments section below. Read the full article

[teiraymondmccoy78]

Blockchain revolution rolls on despite cryptocurrency crash

Blockchain revolution rolls on despite cryptocurrency crash

LONDON: It was the year cryptocurrencies fell to earth — the crash has been so severe that parallels have been drawn with the dotcom bust at the turn of the millennium. Bitcoin is down 80 percent from just under $20,000 12 months ago to about $3,500 in December. Similar falls have been recorded by other cryptos such as ethereum. The reasons for the bust are well rehearsed: Increased regulatory oversight, especially from the US and China, the emergence of scams linked to a proliferation of cryptocurrencies launched via initial coin offerings (ICOs), and disagreements among cryptocurrency’s developers about how to update the underlying software. But interviewees told Arab News that the market would recover and that, just as the dotcom boom went on to produce Amazon, so the world of cryptocurrencies shouldn’t be written off. Dubai-based entrepreneur and investor, Najam Kidwai, a board-adviser to Fusion.org, a not-for-profit foundation that aims to develop blockchain infrastructure for cryptofinance, told Arab News that all innovations needed time to mature and cryptocurrencies were no different. He added: “Change needs to be regulated, but if you are doing everything above board, new technology should enhance the user experience, that’s the idea of technology — to make life easier.” In the interim, he predicted, institutional money will flow into “the crypto space,” even as retail investors take fright. Banks and hedge funds had been looking at cryptocurrencies, and building risk and compliance infrastructure to support trading, he said. Chris Beauchamp, senior market analyst at London-based IG Group told Arab News: “They (cryptocurrencies) aren’t doomed, they’re just not going to change the world overnight. Bitcoin still has the heft to remain part of the financial world, but others will probably fade or evolve over time, like the airlines and car firms of old.” Despite the cryptocurrency crash, most observers agree that blockchain, the technology that underpins the new tokens, will continue to spur public and private investment, and perhaps nowhere more so than in the Gulf. Here, there have been some major developments in 2018. Abu Dhabi-headquartered Al Hilal Bank has carried out a blockchain-based transaction for an Islamic bond worth $500 million; Abu Dhabi National Oil Company (ADNOC) is collaborating with IBM to pilot a blockchain supply chain system; and KSA’s central bank has signed an agreement with US fintech company Ripple to run a pilot project to help banks settle payments using blockchain. Kidwai said: “Cities like Dubai have bet very heavily on blockchain. A lot of proof of concept work is going on as Dubai wants paperless government, so there is an initiative here called Smart Dubai, driven by the ruler of Dubai. There is a desire for transparency and speed in government.” At its heart, blockchain is a relatively straightforward concept. It’s a ledger of blocks of information, such as transactions or agreements, that are stored across a network of computers. This information is stored chronologically, can be viewed by a community of users, and is not usually managed by a central authority such as a bank or a government. Once published, the information can’t be changed. Gartner analyst Rajesh Kandaswamy told Arab News that even though speculators had poured billions into cryptocurrencies, that didn’t “invalidate the underlying blockchain technology”. “Blockchain could allow various parties in a supply chain to interact without a middleman — and for all records to be secured in one place. That allows for further streamlining, more efficiency and cost reductions,” said Kandaswamy. Abdul Nasser Al Mughairbi, digital unit manager for Abu Dhabi National Oil Company (ADNOC) said that blockchain would “enhance our business processes with a shared, secure and transparent ledger. “Blockchain is helping us track, irrefutably, every molecule of oil, and its value, from the well to the final customer,” he said in an emailed response to questions from Arab News. He added: “Every day there are large and complex production and accounting transactions among all of our businesses…that need to be accounted for. Until now this has been a laborious process but the blockchain application we have developed is streamlining this in one platform.” Operating costs could be cut via “eliminating time-consuming and labor-intensive processes.” Blockchain would be a game-changer in oil and gas transactions, he said.

——-

GCC SEEKS GLOBAL BLOCKCHAIN STATUS

GCC states are spearheading developments in blockchain to underline their efforts to become a global tech hub that links trade and finance between East and West. Saudi Arabia, Bahrain and Kuwait have announced a number of initiatives adding to the blockchain buzz humming around the entire Arabian Peninsula. The UAE and KSA have launched a proof of concept (PoC) for experimenting with blockchain to help cross-border payments between the two countries.

Just this month, UAE Exchange and US start-up Ripple said they planned to launch cross-border remittances to Asia via blockchain from the first quarter of 2019. Dubai has long sought to cement its position at the heart of a trading superhighway that connects China, Africa, Europe and the United States.

It has even talked about launching its own digital currency to oil the wheels of world trade even as the US/China tit-for-tat tariffs war continues. Dubai is already home to a bitcoin exchange, BitOasis, and other start-ups and accelerators devoted to blockchain are springing up, as well. 

Dubai’s Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum has said he wants all government documentation — such as visa applications, bill payments and licence renewals — to be transacted digitally using blockchain by 2020. In a recent report, Ahmed Bin Sulayem, chairman of the Dubai Multi-Commodity Centre (DMCC), said: “Trade and trade finance will be revolutionised by blockchain and other emerging technologies.”

——-

Despite a huge increase in embryonic and pilot projects involving blockchain, Gartner’s Kandaswamy said to his knowledge there had been “very few large-scale investments” in blockchain by enterprises. True, blockchain had been the number one search term when people looked at the Gartner website. But inquiries were more about curiosity surrounding the technology and “not about allocating capital.” He added: “Our clients are struggling to see where blockchain would make sense in their business. When I did a webinar last year, firms were saying ‘lack of business case’ was the number one issue. They wanted to know how blockchain could do things better than other technologies already out there.” However, he said that there were some unique selling points emerging with blockchain. For example: The ability of different parties in an ecosystem to have the same sense of proof, data held at a single point that couldn’t be tampered with. Certainly, blockchain doesn’t look like going away anytime soon. Walmart recently became one of the first retailers to explain how it will be using the technology. The company said it would require lettuce suppliers to upload data about their foods to blockchain within a year. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain’s digital-ledger open-source technology. Last month, Amazon said that it would offer blockchain for developers using its cloud-computing services. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. IBM and Microsoft have been leading global blockchain development projects in 2018, according to Wintergreen. Kandaswamy said a distinction should be made between a public blockchain system and a private one. The latter was for internal business processes, such as IBM’s application enabling location and tracking of maritime shipments. The larger battlefield centered on public blockchain. For these public exchanges used for the likes of bitcoin, there was still work to be done following a number of hacking incidents in 2018. Kidwai said custodial issues were “the biggest thing holding back cryptocurrencies — i.e. making sure that my crypto or bitcoin isn’t going to be stolen.” Solutions to the problems were pending but not that far away, he said, perhaps no more than 12 months out. Once the custodial issues were solved, “institutional capital would flow, if not gush into this space,” he said. As with the Internet, blockchain technology will catch on — “and like the Internet, in a very big way,” said Kidwai.

Source link http://bit.ly/2CvdVII

[courtneyvbrooks87]

Blockchain revolution rolls on despite cryptocurrency crash

Blockchain revolution rolls on despite cryptocurrency crash

LONDON: It was the year cryptocurrencies fell to earth — the crash has been so severe that parallels have been drawn with the dotcom bust at the turn of the millennium. Bitcoin is down 80 percent from just under $20,000 12 months ago to about $3,500 in December. Similar falls have been recorded by other cryptos such as ethereum. The reasons for the bust are well rehearsed: Increased regulatory oversight, especially from the US and China, the emergence of scams linked to a proliferation of cryptocurrencies launched via initial coin offerings (ICOs), and disagreements among cryptocurrency’s developers about how to update the underlying software. But interviewees told Arab News that the market would recover and that, just as the dotcom boom went on to produce Amazon, so the world of cryptocurrencies shouldn’t be written off. Dubai-based entrepreneur and investor, Najam Kidwai, a board-adviser to Fusion.org, a not-for-profit foundation that aims to develop blockchain infrastructure for cryptofinance, told Arab News that all innovations needed time to mature and cryptocurrencies were no different. He added: “Change needs to be regulated, but if you are doing everything above board, new technology should enhance the user experience, that’s the idea of technology — to make life easier.” In the interim, he predicted, institutional money will flow into “the crypto space,” even as retail investors take fright. Banks and hedge funds had been looking at cryptocurrencies, and building risk and compliance infrastructure to support trading, he said. Chris Beauchamp, senior market analyst at London-based IG Group told Arab News: “They (cryptocurrencies) aren’t doomed, they’re just not going to change the world overnight. Bitcoin still has the heft to remain part of the financial world, but others will probably fade or evolve over time, like the airlines and car firms of old.” Despite the cryptocurrency crash, most observers agree that blockchain, the technology that underpins the new tokens, will continue to spur public and private investment, and perhaps nowhere more so than in the Gulf. Here, there have been some major developments in 2018. Abu Dhabi-headquartered Al Hilal Bank has carried out a blockchain-based transaction for an Islamic bond worth $500 million; Abu Dhabi National Oil Company (ADNOC) is collaborating with IBM to pilot a blockchain supply chain system; and KSA’s central bank has signed an agreement with US fintech company Ripple to run a pilot project to help banks settle payments using blockchain. Kidwai said: “Cities like Dubai have bet very heavily on blockchain. A lot of proof of concept work is going on as Dubai wants paperless government, so there is an initiative here called Smart Dubai, driven by the ruler of Dubai. There is a desire for transparency and speed in government.” At its heart, blockchain is a relatively straightforward concept. It’s a ledger of blocks of information, such as transactions or agreements, that are stored across a network of computers. This information is stored chronologically, can be viewed by a community of users, and is not usually managed by a central authority such as a bank or a government. Once published, the information can’t be changed. Gartner analyst Rajesh Kandaswamy told Arab News that even though speculators had poured billions into cryptocurrencies, that didn’t “invalidate the underlying blockchain technology”. “Blockchain could allow various parties in a supply chain to interact without a middleman — and for all records to be secured in one place. That allows for further streamlining, more efficiency and cost reductions,” said Kandaswamy. Abdul Nasser Al Mughairbi, digital unit manager for Abu Dhabi National Oil Company (ADNOC) said that blockchain would “enhance our business processes with a shared, secure and transparent ledger. “Blockchain is helping us track, irrefutably, every molecule of oil, and its value, from the well to the final customer,” he said in an emailed response to questions from Arab News. He added: “Every day there are large and complex production and accounting transactions among all of our businesses…that need to be accounted for. Until now this has been a laborious process but the blockchain application we have developed is streamlining this in one platform.” Operating costs could be cut via “eliminating time-consuming and labor-intensive processes.” Blockchain would be a game-changer in oil and gas transactions, he said.

——-

GCC SEEKS GLOBAL BLOCKCHAIN STATUS

GCC states are spearheading developments in blockchain to underline their efforts to become a global tech hub that links trade and finance between East and West. Saudi Arabia, Bahrain and Kuwait have announced a number of initiatives adding to the blockchain buzz humming around the entire Arabian Peninsula. The UAE and KSA have launched a proof of concept (PoC) for experimenting with blockchain to help cross-border payments between the two countries.

Just this month, UAE Exchange and US start-up Ripple said they planned to launch cross-border remittances to Asia via blockchain from the first quarter of 2019. Dubai has long sought to cement its position at the heart of a trading superhighway that connects China, Africa, Europe and the United States.

It has even talked about launching its own digital currency to oil the wheels of world trade even as the US/China tit-for-tat tariffs war continues. Dubai is already home to a bitcoin exchange, BitOasis, and other start-ups and accelerators devoted to blockchain are springing up, as well. 

Dubai’s Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum has said he wants all government documentation — such as visa applications, bill payments and licence renewals — to be transacted digitally using blockchain by 2020. In a recent report, Ahmed Bin Sulayem, chairman of the Dubai Multi-Commodity Centre (DMCC), said: “Trade and trade finance will be revolutionised by blockchain and other emerging technologies.”

——-

Despite a huge increase in embryonic and pilot projects involving blockchain, Gartner’s Kandaswamy said to his knowledge there had been “very few large-scale investments” in blockchain by enterprises. True, blockchain had been the number one search term when people looked at the Gartner website. But inquiries were more about curiosity surrounding the technology and “not about allocating capital.” He added: “Our clients are struggling to see where blockchain would make sense in their business. When I did a webinar last year, firms were saying ‘lack of business case’ was the number one issue. They wanted to know how blockchain could do things better than other technologies already out there.” However, he said that there were some unique selling points emerging with blockchain. For example: The ability of different parties in an ecosystem to have the same sense of proof, data held at a single point that couldn’t be tampered with. Certainly, blockchain doesn’t look like going away anytime soon. Walmart recently became one of the first retailers to explain how it will be using the technology. The company said it would require lettuce suppliers to upload data about their foods to blockchain within a year. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain’s digital-ledger open-source technology. Last month, Amazon said that it would offer blockchain for developers using its cloud-computing services. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. IBM and Microsoft have been leading global blockchain development projects in 2018, according to Wintergreen. Kandaswamy said a distinction should be made between a public blockchain system and a private one. The latter was for internal business processes, such as IBM’s application enabling location and tracking of maritime shipments. The larger battlefield centered on public blockchain. For these public exchanges used for the likes of bitcoin, there was still work to be done following a number of hacking incidents in 2018. Kidwai said custodial issues were “the biggest thing holding back cryptocurrencies — i.e. making sure that my crypto or bitcoin isn’t going to be stolen.” Solutions to the problems were pending but not that far away, he said, perhaps no more than 12 months out. Once the custodial issues were solved, “institutional capital would flow, if not gush into this space,” he said. As with the Internet, blockchain technology will catch on — “and like the Internet, in a very big way,” said Kidwai.

Source link http://bit.ly/2CvdVII

[vanessawestwcrtr5]

Blockchain revolution rolls on despite cryptocurrency crash

Blockchain revolution rolls on despite cryptocurrency crash

LONDON: It was the year cryptocurrencies fell to earth — the crash has been so severe that parallels have been drawn with the dotcom bust at the turn of the millennium. Bitcoin is down 80 percent from just under $20,000 12 months ago to about $3,500 in December. Similar falls have been recorded by other cryptos such as ethereum. The reasons for the bust are well rehearsed: Increased regulatory oversight, especially from the US and China, the emergence of scams linked to a proliferation of cryptocurrencies launched via initial coin offerings (ICOs), and disagreements among cryptocurrency’s developers about how to update the underlying software. But interviewees told Arab News that the market would recover and that, just as the dotcom boom went on to produce Amazon, so the world of cryptocurrencies shouldn’t be written off. Dubai-based entrepreneur and investor, Najam Kidwai, a board-adviser to Fusion.org, a not-for-profit foundation that aims to develop blockchain infrastructure for cryptofinance, told Arab News that all innovations needed time to mature and cryptocurrencies were no different. He added: “Change needs to be regulated, but if you are doing everything above board, new technology should enhance the user experience, that’s the idea of technology — to make life easier.” In the interim, he predicted, institutional money will flow into “the crypto space,” even as retail investors take fright. Banks and hedge funds had been looking at cryptocurrencies, and building risk and compliance infrastructure to support trading, he said. Chris Beauchamp, senior market analyst at London-based IG Group told Arab News: “They (cryptocurrencies) aren’t doomed, they’re just not going to change the world overnight. Bitcoin still has the heft to remain part of the financial world, but others will probably fade or evolve over time, like the airlines and car firms of old.” Despite the cryptocurrency crash, most observers agree that blockchain, the technology that underpins the new tokens, will continue to spur public and private investment, and perhaps nowhere more so than in the Gulf. Here, there have been some major developments in 2018. Abu Dhabi-headquartered Al Hilal Bank has carried out a blockchain-based transaction for an Islamic bond worth $500 million; Abu Dhabi National Oil Company (ADNOC) is collaborating with IBM to pilot a blockchain supply chain system; and KSA’s central bank has signed an agreement with US fintech company Ripple to run a pilot project to help banks settle payments using blockchain. Kidwai said: “Cities like Dubai have bet very heavily on blockchain. A lot of proof of concept work is going on as Dubai wants paperless government, so there is an initiative here called Smart Dubai, driven by the ruler of Dubai. There is a desire for transparency and speed in government.” At its heart, blockchain is a relatively straightforward concept. It’s a ledger of blocks of information, such as transactions or agreements, that are stored across a network of computers. This information is stored chronologically, can be viewed by a community of users, and is not usually managed by a central authority such as a bank or a government. Once published, the information can’t be changed. Gartner analyst Rajesh Kandaswamy told Arab News that even though speculators had poured billions into cryptocurrencies, that didn’t “invalidate the underlying blockchain technology”. “Blockchain could allow various parties in a supply chain to interact without a middleman — and for all records to be secured in one place. That allows for further streamlining, more efficiency and cost reductions,” said Kandaswamy. Abdul Nasser Al Mughairbi, digital unit manager for Abu Dhabi National Oil Company (ADNOC) said that blockchain would “enhance our business processes with a shared, secure and transparent ledger. “Blockchain is helping us track, irrefutably, every molecule of oil, and its value, from the well to the final customer,” he said in an emailed response to questions from Arab News. He added: “Every day there are large and complex production and accounting transactions among all of our businesses…that need to be accounted for. Until now this has been a laborious process but the blockchain application we have developed is streamlining this in one platform.” Operating costs could be cut via “eliminating time-consuming and labor-intensive processes.” Blockchain would be a game-changer in oil and gas transactions, he said.

——-

GCC SEEKS GLOBAL BLOCKCHAIN STATUS

GCC states are spearheading developments in blockchain to underline their efforts to become a global tech hub that links trade and finance between East and West. Saudi Arabia, Bahrain and Kuwait have announced a number of initiatives adding to the blockchain buzz humming around the entire Arabian Peninsula. The UAE and KSA have launched a proof of concept (PoC) for experimenting with blockchain to help cross-border payments between the two countries.

Just this month, UAE Exchange and US start-up Ripple said they planned to launch cross-border remittances to Asia via blockchain from the first quarter of 2019. Dubai has long sought to cement its position at the heart of a trading superhighway that connects China, Africa, Europe and the United States.

It has even talked about launching its own digital currency to oil the wheels of world trade even as the US/China tit-for-tat tariffs war continues. Dubai is already home to a bitcoin exchange, BitOasis, and other start-ups and accelerators devoted to blockchain are springing up, as well. 

Dubai’s Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum has said he wants all government documentation — such as visa applications, bill payments and licence renewals — to be transacted digitally using blockchain by 2020. In a recent report, Ahmed Bin Sulayem, chairman of the Dubai Multi-Commodity Centre (DMCC), said: “Trade and trade finance will be revolutionised by blockchain and other emerging technologies.”

——-

Despite a huge increase in embryonic and pilot projects involving blockchain, Gartner’s Kandaswamy said to his knowledge there had been “very few large-scale investments” in blockchain by enterprises. True, blockchain had been the number one search term when people looked at the Gartner website. But inquiries were more about curiosity surrounding the technology and “not about allocating capital.” He added: “Our clients are struggling to see where blockchain would make sense in their business. When I did a webinar last year, firms were saying ‘lack of business case’ was the number one issue. They wanted to know how blockchain could do things better than other technologies already out there.” However, he said that there were some unique selling points emerging with blockchain. For example: The ability of different parties in an ecosystem to have the same sense of proof, data held at a single point that couldn’t be tampered with. Certainly, blockchain doesn’t look like going away anytime soon. Walmart recently became one of the first retailers to explain how it will be using the technology. The company said it would require lettuce suppliers to upload data about their foods to blockchain within a year. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain’s digital-ledger open-source technology. Last month, Amazon said that it would offer blockchain for developers using its cloud-computing services. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. IBM and Microsoft have been leading global blockchain development projects in 2018, according to Wintergreen. Kandaswamy said a distinction should be made between a public blockchain system and a private one. The latter was for internal business processes, such as IBM’s application enabling location and tracking of maritime shipments. The larger battlefield centered on public blockchain. For these public exchanges used for the likes of bitcoin, there was still work to be done following a number of hacking incidents in 2018. Kidwai said custodial issues were “the biggest thing holding back cryptocurrencies — i.e. making sure that my crypto or bitcoin isn’t going to be stolen.” Solutions to the problems were pending but not that far away, he said, perhaps no more than 12 months out. Once the custodial issues were solved, “institutional capital would flow, if not gush into this space,” he said. As with the Internet, blockchain technology will catch on — “and like the Internet, in a very big way,” said Kidwai.

Source link http://bit.ly/2CvdVII

[bbnnfeed-blog]

The 5 Friendliest Places In The World For Crypto Enterprises

New Post has been published on https://bnn.io/news/5-friendliest-places-world-crypto-enterprises/?utm_source=Tumblr&utm_medium=socialpush&utm_campaign=SNAP

The 5 Friendliest Places In The World For Crypto Enterprises

As the cryptocurrencies industry continues to expand, the interest of regulators to establish clear rules for their operation has increased. Around the world, each country has developed their own opinion and regulations. As a result, some places are much more welcoming than others for the operation of cryptocurrencies companies. In such countries, governments show interest in supporting the sector, establishing regulations that seek to dictate norms, while at the same time favoring the growth of the ecosystem. Let’s take a look at some of those places.

Malta

Malta has emerged in recent years as one of the leading centers of operation for companies related to cryptocurrencies and blockchain technology.

The European island stands out as the first country to approve integral legislation for the ecosystem, offering legal certainty for the companies linked to the sector. Last July it took a step forward in the approval of three bills that will regulate the whole ecosystem in the self-described “Blockchain Island” of the Mediterranean. These are the Digital Innovation Act, the Innovative Technology Arrangements and Services Act, and the Virtual Financial Assets Act.

These regulatory projects are part of a large national blockchain plan implemented in Malta since last year, whereby the government seeks the strategic adoption of Distributed Ledger Technology (DLT) for the development of Maltese territory. At the same time, through the launch of Initial Coin Offering (ICO), the trade of cryptocurrencies is facilitated.

In tax matters, Malta has no tax legislation regulating cryptoassets as a means of exchange. Mariella Baldacchino, of the Maltese firm E&S Consultancy Ltd, stated last June that only if the sale of cryptocurrencies is done on a regular basis and/or the length of the property is very short, the transaction can be considered as income and therefore subject to income tax at 5%.

Because of this, many fintech companies and crypto exchange have chosen Malta as their site of operations, qualifying its regulatory system as one of the friendliest. These startups include Binance and OKEx. At the same time, the Maltese community around cryptoassets continues to grow, creating groups such as Malta Bitcoin Club and ICO Launch Malta, a service of support and advice to those who wish to make such offers.

Gibraltar

Due to its lenient regulations and low tax rates, the small state of Gibraltar, located at one end of the Iberian peninsula, has become a pole of attraction for entrepreneurs of all kinds, especially those linked to the cryptocurrencies sector.

The government unveiled its first model of the regulatory framework for blockchain technology in April 2017, after two years of work with the Ministry of Finance and the private sector. At the time, the regulation took into account only the DLT and established that all companies that use blockchain networks to store or transmit third-party securities must apply for a license from the Gibraltar Financial Services Commission (GFSC).

Subsequently, in February of this year, work began on drafting the first drafts of a more specific bill to regulate the issue, sale, and distribution of tokens through the ICOs. This is why the small state takes the lead among the territories that introduce and formalize the launch of ICOs, approved by the government within the global financial system.

These regulatory proposals not only standardize the rules for companies that participate in the blockchain ecosystem but also regulate any financial activity that was not subject to legal control and that is linked to the blockchain. In this way, the growth of the entire financial technology industry in Gibraltar’s economy is closely related to the services and finance sector.

The landscape for cryptocurrencies continued to improve with the creation of the first government-backed exchange: Gibraltar Blockchain Exchange. This project was born with the objective of providing an institutional platform for the sale of tokens, the realization of ICO and exchange of cryptoassets. This attracts many industry companies that contemplate establishing themselves in a place that offers entrepreneurs a legal, legitimate and government-approved platform to launch their projects.

Switzerland

Zug is a small town located just 25 kilometers south of Zurich, Switzerland, and it seems to have all the necessary characteristics to become the Silicon Valley of finance in Europe. Currently, it serves as the home of many companies in the fintech industry.

The community around cryptocurrencies is large and growing, and as part of this ecosystem, Crypto Valley Association (CVA) was formed, a government-backed association that seeks to make Switzerland a world leader in the area. The CVA hosts a series of events each month and serves as a learning forum.

Oliver Bussmann, director of CVA, stated that about 530 startups related to cryptoassets technology have launched, not only in Zug but also in Zurich. The reasons include the pleasant environment for foreigners and the favorable policies for the development of financial technology that exist in Switzerland.

In terms of regulation, the Swiss Financial Market Supervisory Authority (FINMA) set up a system favorable to the operation of cryptoassets companies, especially for ICOs, earlier this year. As far as taxes are concerned, the tax rate is one of the lowest in the region.

However, there has been a lack of willingness on the part of Swiss banks to provide services to cryptocurrency-related organizations. Faced with this, the Swiss Bankers Association (SBA), with support from the CVA, presented a guide for banks that want to do business with such companies. The idea is to prevent companies in the sector from migrating to countries with even friendlier environments.

Hong Kong

The Hong Kong Special administrative region is considered to be one of the largest cryptocurrencies centers in Asia. Many cryptocurrencies companies have migrated to this area, after suffering the restrictions imposed on the sector in China, South Korea, and even the United States.

Until now, the regulators of this autonomous province of the People’s Republic of China have been open to DLT and cryptoassets innovation, betting on becoming a development center. They plan to implement platforms for the commercial financing system and the implementation of a new blockchain network, along with 21 other financial institutions, as reported by the Hong Kong Monetary Authority (HKMA) last July.

The Hong Kong ecosystem could also be enriched with the entry of new talents linked to the sector, as last August it was announced a project that offers benefits to people around the world, with valuable skills and knowledge, who want to develop their careers in Hong Kong.

Last February the government carried out an educational campaign warning about some dangers of ICOs. Based on this fact, some cryptoassets issued in ICO come under the jurisdiction of SFC and must comply with its regulatory standards.

Even so, the community linked to cryptocurrencies is active in Hong Kong. Companies such as BitFinex operate there, and several key industry conferences are held annually.

Singapore

Singapore is one of the most important centers for international business. Regarding cryptoassets, the government has shown interest in providing a legal framework that meets the needs of all parties, protecting investors and consumers without hampering innovation.

In this regard, the Prime Minister of Singapore, Tharman Shanmugaratnam, said last February that his government does not plan to ban cryptocurrencies, once regulations are established. All this within the framework of government interest in attracting cryptoassets firms through the establishment of fintech incubators.

In that sense, one of the greatest attractions of the country for companies linked to new technologies is the absence of tax rates. Bobby Ong, CEO of CoinGecko, a startup based in Singapore, says that new companies receive a total tax exemption on the first $100,000 of ordinary imputable income and an additional 50% exemption on the next $200,000 of ordinary imputable income.

In general terms, the attitude of the authorities has been open to the ecosystem, choosing not to regulate it, as confirmed in October last year by the Director of the Monetary Authority of Singapore (MAS), Ravi Menon. However, many entrepreneurs are cautious, as they still perceive a lack of regulatory clarity around the launch of ICO.

Despite this, Singapore is a source of funding, which has a vast ecosystem of cryptoassets. It is home to a large number of engineering talents and several of the world’s leading research universities.

Conclusion

In addition to these areas, other places are also eye-catching for entrepreneurs in the field of cryptocurrencies and blockchain technology. Dubai in the United Arab Emirates, some cities in the United States, Tokyo in Japan, and even the Principality of Liechtenstein in Europe, are places where members of the ecosystem grow exponentially, and who are attracting startups and entrepreneurs for their friendly environments.

[cryptochurp]

Crimea, Annexed by Russia, Intends to Go Crypto

Crimea, a Black Sea peninsular region that was annexed by Russia from Ukraine in 2014, is preparing a development program based on blockchain and crypto in a bid to bypass international sanctions slapped on the territory following the annexation.

Also see: Tezos Co-Founder Sanctioned by U.S. Watchdog FINRA

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Sanctions? Forget About ‘Em

The development scheme, which is being prepared with the Russian association of cryptocurrencies and blockchain, stipulates the issuance of Crimea’s digital currency that could be used to pay for goods and services, to facilitate ICOs as a funding tool for local companies, to create a local crypto exchange, and more.

The plan also stipulates the creation of a local crypto fund targeting international investors. Funds raised in crypto would be subsequently converted into fiat money and invested in various projects in Crimea.

The initiative attracted support from prominent Russian legislator Anatoly Aksakov, chairman of financial markets committee at the State Duma, the lower chamber of Parliament. However, he nixed a stipulation regarding cryptocurrency mining in the region, saying that Crimea just doesn’t have enough power capacity for that.

In the months following the March 2014 annexation, only a handful of the world’s countries, including Afghanistan, Venezuela and North Korea, recognized Crimea as part of Russia, while the majority maintained it was an annexed Ukrainian territory and cut ties with the region.

In compliance with sanctions introduced by the US government, global corporations, including Amazon, eBay, PayPal and Apple, pulled out of the region.

Crimeans Feeling the Pain

The dubious status of Crimea, which Russia claims is now its legitimate part, has become a problem for local companies and individuals willing to buy foreign goods and services, not to mention borrowing cash abroad or attracting investment.

Now the region sees crypto as a way out of the trap, but the idea raises quite a few questions.

First of all, if Russia considers Crimea its territory, Russian laws should apply on the peninsula, and no regulations for the crypto space are yet in place. In addition, the existing draft doesn’t stipulate sales of goods and services for cryptocurrencies.

So, is Crimea going to be exempt from crypto regulations? Or is Russia going to make the crypto law more lenient to accommodate what Crimea’s needs to bypass international sanctions?

But, Russian crypto regulations aside, what are the prospects of any crypto assets coming from a dubious region like Crimea? It’s highly doubtful that investors will rush to by a national cryptocurrency issued by the region’s government.

It’s not uncommon for rogue regimes burdened by Western sanctions to try to go crypto. One recent example is Venezuela’s Petro, the world’s first national crypto currency, which the country’s government says is tied to the oil price, but it can hardly compete with major cryptocurrencies.

Similarly, ICOs of companies based in Crimea, which is by no means a major high-tech hub, are unlikely to attract excessive demand.

If there is any interest in Crimean digital assets, it is likely to come from Russia, and it would be more like financial aid than proper investment, so cash could just the same come in the form of fiat money.

What’s your take? Does Crimea have the right idea, or are their crypto goals misplaced? Sound off in the comments below. 

Images via Ukrinform, Al Jazeera 

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