Crypto Oasis Ventures Opens New Venture Studio Office at DIFC Innovation Hub and Signs Memorandum of Understanding (MoU)

DUBAI, UAE, Jul 19, 2023 – (ACN Newswire) – Crypto Oasis Ventures the inceptor of the fastest growing Blockchain ecosystem in the world, the Crypto Oasis, has signed a Memorandum of Understanding (MoU) with Dubai International Financial Centre (DIFC), the leading financial hub in Dubai.

Faisal Zaidi and Mohammad Alblooshi

Under the terms of the MOU, Crypto Oasis Ventures will support the DIFC Innovation Hub with subject matter expertise for their ongoing and upcoming start-up accelerator programmes. The announcement coincides with Crypto Oasis Ventures official opening of its second office in the DIFC Innovation Hub for its Venture Studio. The move signifies Crypto Oasis Ventures' commitment to expanding its presence in Dubai and further strengthens its position as a key player in the global Blockchain ecosystem.

"We are thrilled to partner with Dubai International Financial Centre (DIFC), a renowned financial hub known for its regulatory excellence and commitment to fostering innovation," said Faisal Zaidi, Co-Founder and CMO of Crypto Oasis Ventures. "By establishing our office within the DIFC Innovation Hub, we aim to leverage The Centre's vibrant ecosystem, collaborate with like-minded organisations, and explore new opportunities for growth."

DIFC is a leading global international financial centre that plays a pivotal role in driving economic diversification and innovation in the region. As a strategic partner, DIFC will provide the Crypto Oasis Ventures ecosystem with access to a network of global investors, industry experts, and regulatory resources. This collaboration will facilitate the development of cutting-edge blockchain solutions, positioning Crypto Oasis Ventures at the forefront of the digital transformation in the financial sector.

Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub commented: "The DIFC Innovation hub has a long history of partnering with leading and visionary institutions to enable business growth for our start-up ecosystem. This partnership will bring immense value to start-ups participating in our various accelerator programmes this year who will be able to leverage on Crypto Oasis's expertise to amplify their existing business models."

"We are pleased to see Crypto Oasis expand their presence here in Dubai at the DIFC Innovation hub as they continue to innovate and drive growth in collaboration with our vibrant community of tech and innovation disruptors," he added.

The strategic location of the Crypto Oasis Studio, at DIFC Gate Avenue, will enable Crypto Oasis Ventures to enhance its operations and strengthen its relationships with key stakeholders. By establishing a physical presence within DIFC Innovation Hub, the company aims to attract top talent, collaborate with industry leaders, and forge partnerships that drive Blockchain adoption globally.

About Crypto Oasis Ventures

Crypto Oasis Ventures is a leading Venture Builder with a strong focus on the Middle East and North Africa region. It has successfully established the Crypto Oasis Ecosystem, which has emerged as the world's fastest-growing Blockchain Ecosystem. In the United Arab Emirates alone, the ecosystem has identified over 1,800 organizations and boasts a workforce of more than 8,650 individuals dedicated to the Blockchain industry. The ecosystem encompasses various stakeholders, including Investors & Collectors, Start-Ups & Projects, Corporates, Science & Research Institutions, Service Providers, and Government Entities & Associations.

As one of the pioneers in the local venture-building landscape, Crypto Oasis Ventures benefits from a global network and maintains robust connections to the renowned Crypto Valley in Switzerland. Notably, it holds the distinction of being the first Web3 venture-building company based in the Dubai International Financial Centre (DIFC). The primary goal of Crypto Oasis Ventures is to nurture the ecosystem and expedite the growth of Web3-related organizations in the Middle East, North Africa and beyond.

Crypto Oasis Ventures has spearheaded several successful ventures, including Crypto Oasis Labs, Crypto Oasis Sentio, arte, Crypto Oasis Games Guild, Inacta Communications, and The Green Block. These ventures showcase the company's commitment to innovation, collaboration, and sustainable development within the Web3 space. For more information, visit www.cryptooasis.ae.

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.

With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of over 36,000 professionals working across over 4,300 active registered companies – making up the largest and most diverse pool of industry talent in the region.

The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations.

For further information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC.

For media enquiries, please contact:

Maria Fernandez
Marketing Manager, Crypto Oasis Ventures
Tel.: +971 056 385 3146
E-mail: maria@cryptooasis.ae

Omar Nasro
ASDA'A BCW | +9714 450 7600 | omar.nasro@bcw-global.com

Rasha Mezher
Dubai International Financial Centre Authority
Consultant, Marketing & Corporate Communications
+97143622451 | t-rasha.mezher@difc.ae

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Xtreme Business Enterprises Launches World’s First DOT Standard 3+2 STO

HONG KONG, Jul 14, 2023 – (ACN Newswire) – In line with China's 14th Five-Year Plan, which supports Hong Kong's development as an international innovation and technology hub, the Government of the Hong Kong Special Administrative Region has successively introduced a number of measures to promote the healthy development of Web 3, blockchain assets and smart city initiatives – driving market demand for digital ownership verification.

(Photo caption) Dr. Herbert Lee, Founder and Chairman of Xtreme Business Enterprises Limited (XBE) (fifth from left), Group Chief Executive Officer of XBE, Mr Julian So (fourth from right), Ir. Tony WONG, JP, Government Chief Information Officer (sixth from left) and other officiating guests celebrate the launch of the world's first Digital Ownership Token (DOT) Standard 3+2 Security Token Offering (STO).

(Photo caption) Group Chief Executive Officer of XBE, Mr Julian So (right) and Managing Director of Prosynergy, Ex-SFC regulator, Mr. Louie Lee (left) share insights about the potential, the market trend as well as the future development of the DOT Standard STO.

As one of the leaders in this industry, Xtreme Business Enterprises Limited ("XBE") today announced the launch of the world's first Digital Ownership Token (DOT) Standard 3+2 Security Token Offering (STO). Based on its pioneering DOT technology, XBE's STO will help drive the future development of Web 5 (centralised Web 2 + decentralized Web 3) and blockchain assets.

Unlike other digital tokens, XBE's pioneering DOT uses blockchain technology to record legal documents and smart contracts – providing authentication and legally enforceable ownership over real tangible and/or intangible assets. DOTs can be applied across many different assets and industries, including intellectual property, real estate and memberships.

DOT Standard 3+2 STO provides greater certainty, efficiency and security

DOT Standard 3+2 STO uses the DOT standard to record bond documents and corresponding smart contracts into the Bond Security Token. As such, the token itself becomes the security – allowing token holders to directly hold and control their own assets, while enhancing the certainty, security, efficiency and transparency of security tokens. DOT also eliminates the need for a third-party custodian to hold onto the underlying asset, mitigating risks associated with traditional securities custody.

XBE leverages DOT standard STO to provide a more advanced, efficient, secure and cost-effective alternative to bond offerings. In addition to using the DOT standard, 3+2 STO also includes three professional audits (i.e. Security Token, Legal and Regulatory Audits) and two opinions (i.e. Legal and Regulatory Opinions) to provide greater certainty and security. DOT Standard 3+2 STO fully implements and adopts blockchain and smart contract technologies. The clear record of bond ownership effectively protects the interests of investors, providing a more secure, efficient, transparent and innovative bond offering approach for the capital markets.

XBE's pioneering DOT technology leads bond market innovation

XBE's proprietary technology, the world's first DOT Standard 3+2 STO, is already gaining customer recognition and support. XBE's partner, China Information Technology Development Limited ("China Information Technology" or "CITD", HKEx stock code: 8178) will issue bonds with an aggregate principal amount of up to HK$100 million, documented using blockchain technology in place of other documentation tools and implemented using the DOT standard. This technology provides greater efficiency, security and transparency for bond holders. Reducing the risks associated with traditional securities custody, DOT standard STOs are expected to become widely adopted in the future, eventually replacing other form of documentation. Hong Kong is taking the lead in the development of Web 5 applications, helping corporations enhance their brand image and unlock new business opportunities, creating a win-win situation.

Dr. Herbert Lee, Founder and Chairman of Xtreme Business Enterprises Limited (XBE) said, "XBE is committed to promoting the development of Web 2 + Web 3, blockchain assets and smart city initiatives, synchronising the future development of Mainland China and Hong Kong. We are delighted to be using the DOT standard for STOs, which proves that the DOT technology created by our team can be applied to various assets and industries."

Mr. Daniel Wong, Chairman and CEO of China Information Technology Development Limited (CITD) said, "The use of blockchain technology in place of other documentation to issue bonds proves that we can fully implement and adopt the use of blockchain and smart contract technologies through DOT standard STO. We are encouraged to see Hong Kong taking a leading position in this arena."

As the pioneer of DOT Standard 3+2 STO, XBE uses blockchain and DOT technology to effectively address authentication of real tangible or intangible assets. By continuing to innovate and upgrade DOT, XBE aims to apply the technology to more assets and industries, create new value and revolutionise the development of digital assets – opening up new possibilities in Web 5 and consolidating its leading position in the industry.

About Xtreme Business Enterprises (XBE)
Xtreme Business Enterprises (XBE) is a technology group with deep expertise and broad experience in Web 5 (Web 2 + Web 3) and its responsible adoption and implementation by companies in all industries. XBE leverages blockchain and Digital Ownership Token (DOT) technology to revolutionise traditional business models, creating and enhancing the lasting value of intellectual property, including ownership and its rights. XBE is also an efficient venture builder and incubator of new technology companies and new business divisions. XBE has two successful companies that are presently already traded on the US Over-the-Counter (OTC) Markets, including COINLLECTIBLESTM, the world's first DOT company disrupting the arts and collectibles industry, and MARVIONTM, the world's first DOT company disrupting the media and entertainment industry.

To learn more about XBE, please visit www.XBE.com.

About China Information Technology Development Limited (CITD – 8178.HK)
China Information Technology (CITD – 8178.HK) is a company listed on the Hong Kong Stock Exchange and wholly owns two subsidiaries – DataCube and Macro Systems. The business of the group is mainly providing integrated marketing artificial intelligence (AI) solutions, big data analytics, cloud technology, system integration services and data storage to clients across different industries in Asia.

To learn more about CITD, please visit www.CITD.com.hk.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

CIPHER-CORE, INC., Introduced in Bangladesh

AUSTIN, TX, Jul 13, 2023 – (ACN Newswire) – Mr. Takatoshi Nakamura CEO, Pres. and Mr. Motoyuki Odachi, COO, Dir. of CIPHER-CORE, Inc., Colorado, USA publicly held company (OTC PINK:CFCI) visited Dhaka, capital of People's Republic of Bangladesh 6/12/2023-6/17/2023 to discuss using CIPHER-CORE, Inc. internationally patented technology "complete cypher" for Central Bank Digital Currency (CBDC) with the officials of Bank of Bangladesh.

"Daily Business Eye" one of the most influential daily papers in Bangladesh reported 6/18/2023 that a two-member delegation of Japan's company "Cipher-Core co. Ltd" 100% subsidiary of CIHER-CORE, Inc. USA is now visiting Bangladesh to meet with several officials including Bangladesh Bank (BB), Ministry of Finance and others.

During the discussions, many questions were related to the one and only technology related to "complete cypher" which is not using the ledger system in various financial fields but instead using "complete cypher" that protects even quantum computer attacks. They have made an offer to Bangladesh Bank to introduce the CBDC using their technology. The discussions shall be continued further when visiting Dhaka again 7/28/2023 – 8/01/2023.

During the visit, Mr. Nakamura and Mr. Odachi visited the Japanese Embassy in Bangladesh. Mr. Odachi reported to Ambassador Kiminori Iwama the purpose of their visit to Bangladesh. Mr. Iwama introduced Mr. Tomohide Ichiguchi, the Representative of the Bangladesh office of, Japan International Cooperation Agency (JAICA) to Mr. T. Nakamura and Mr. M. Odachi. JAICA is the agency in charge of administering Japan's Official Development Aid (ODA).

Mr. Odachi, COO of the company, a former deputy minister of finance of Japan, wants to get JICA's financial assistance to Bangladesh on this "complete cypher" project for CBDC for the costs being incurred during the development stage as technical cooperation is one of JICA's three major areas of development assistance, the others being grants and yen loans.

Investor Relations:
Claire Singleton
Tel: 801-580-9928
Email: clairesingleton@aol.com
URL: http://www.cipher-core.com/en

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Oku Launches Advanced On-Chain DEX Trading System

CHICAGO, IL, Jul 10, 2023 – (ACN Newswire) – In a major leap forward for decentralized trading, GFX Labs has announced the launch of Oku. The innovative platform offers an intuitive yet robust interface for Uniswap v3, the leading decentralized exchange (DEX) protocol in the world of decentralized finance (DeFi).

Meet Oku Trade – The Most Advanced DeFi Trading Platform, Powered by Uniswap V3

Born from the need to improve the underwhelming trading interface of existing DEX protocols, GFX Labs was awarded a $1.6 million grant by the Uniswap Foundation to tackle this challenge and establish Oku. The platform addresses the needs of pro-retail traders by offering advanced features typically found in traditional exchanges such as Binance or Coinbase, including order books, price charts, depth charts, trading history, user order history, and more.

"After a year of growing mistrust in centralized institutions, Oku presents a compelling solution for traders combining the security and trust of the Uniswap Protocol with the speed and creature comforts of a centralized exchange. The Uniswap Foundation is proud of the work done by GFX Labs and is excited for crypto traders around the world to level up their DEX trading experience," says Devin Walsh, the Executive Director at the Uniswap Foundation.

Oku is available on Ethereum, Polygon, Arbitrum, and Optimism, with more chains coming soon. Its interface supports all existing and new Uniswap v3 pools, and no token listing request is required, unlike traditional exchanges. The platform dramatically surpasses the industry standard, boasting a comprehensive and speedy analytics site that offers detailed pool, position, and token information. In addition, it brings the capability for limit orders that can be configured for any pool, reshaping the expectations for user accessibility and experience in the process.

The platform's trader-oriented design allows users to switch between markets quickly and efficiently, track their historical activity, and view live trading. Users can place bids and offers at specific prices, and don't need to be present for their fulfillment, a feature unique to Oku's trading system.

"As the first robust trading infrastructure built upon the advanced Uniswap v3 protocol, Oku is poised to rival the industry's leading centralized exchanges. Simultaneously, Oku sets itself apart with a user-friendly interface and intuitive design, making complex trading operations straightforward and visually appealing," affirmed the Oku team.

About Oku

Experience the future of decentralized trading with Oku, a front-end built for the Uniswap v3 protocol and seeded by the Uniswap Foundation. Oku goes beyond the standard trading interface, offering professional-grade features like live order books, detailed price charts, advanced limit orders, and a customizable favorite markets list. Designed with an intuitive interface that caters to both novice and experienced traders, Oku seeks to fill the gap between Uniswap and traditional exchanges. Our commitment is to enhance the DeFi user experience and pioneer the next generation of trading, making the transition from centralized to decentralized platforms seamless and empowering. For more information, visit https://oku.trade.

Contact Information
Michael Herron
Head of Marketing
mherron@gfxlabs.io

Related Video
https://www.youtube.com/watch?v=6XPRsFScCvQ

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

GigaSpace Secures Investment from STEPN’s Creator Find Satoshi Lab & ProDigital Future Fund for Creating a Virtual City for Runners

HONG KONG, Jul 7, 2023 – (ACN Newswire) – GigaSpace, a new web3 community metaverse, is pleased to announce a significant milestone in its growth journey with a strategic investment from Find Satoshi Lab, the parent company of the popular web3 lifestyle app STEPN, and ProDigital Future Fund, a leading web3 venture capital fund at the forefront of web3 investments. This investment will serve as the cornerstone for the next strategic round, with a target of raising $3 million this year to accelerate GigaSpace's expansion plans, including the creation of a STEPN virtual city for the fitness-loving community.

Find Satoshi Lab's investment in GigaSpace is a testament to the shared vision of revolutionizing the web3 community experience through innovative ideas and forward-thinking solutions. With their deep expertise in the web3 space and their remarkable track record with STEPN, Find Satoshi Lab brings invaluable strategic guidance and resources to fuel GigaSpace's growth and market presence.

"We're thrilled to announce our strategic partnerships with Find Satoshi Lab and ProDigital Future Fund. With their invaluable resources and thriving community, we are excited to unlock new opportunities and provide exciting events and utilities for fitness enthusiasts within the GigaSpace ecosystem. Stay tuned for the incredible journey ahead!" says M, co-founder of GigaSpace.

GigaSpace is a shared metaverse with social and game elements that bring together web3 communities, providing a lively social environment for individuals to connect and interact. By empowering communities to build within the metaverse, GigaSpace encourages community engagement and facilitates the exploration of novel use cases for NFTs and tokens.

The funds from this strategic investment will fuel the development of STEPN City, a sports-themed virtual world that offers a wide range of facilities and spaces. Within STEPN City, users will find features like the STEPN Maze, STEPN Community Center, STEPN Mall, and STEPN Tower. These environments allow users to not only purchase merchandise but also organize community events and engage with each other in meaningful ways.

"We at Find Satoshi Lab are extremely excited about this opportunity to strategically invest in Gigaspace and grow alongside with the dedicated team that will be building a lot of event space for our ecosystem. This marks the potential unleash of all you can imagine about recreational activities and hang-outs in the "metaverse". We are particularly thrilled for the synergy it can bring for MOOAR and STEPN via working with Gigaspace," says Mable Jiang, Chief Revenue Officer of Find Satoshi Lab.

In collaboration with Find Satoshi Lab, Prodigital Future will spearhead the upcoming strategic investment round for GigaSpace, aiming to expedite the company's expansion plans.

"We are delighted to be early believers in GigaSpace and are committed to supporting its future endeavors. Like STEPN, we recognize the team's passion for gaming and their ability to leverage their expertise in the web3 space to create market-fit applications and experience rapid growth. Last year, while assisting STEPN in establishing its presence in Hong Kong, we had the opportunity to introduce the GigaSpace team to Find Satoshi Lab. Now, we are thrilled to join forces with Find Satoshi Lab in this investment venture. This is just the beginning of an exciting and promising future," said Curt Shi, Founding Partner of ProDigital Future Fund and an early investor in STEPN.

About GigaSpace
GigaSpace is creating a collaborative and expansive metaverse that unites all web3 communities under a single celestial sky. By providing robust infrastructure and utilities, it empowers communities and projects to seamlessly integrate with its virtual world, saving time and resources while fostering innovation and exploration. For additional information, visit: https://www.gigaspace.io/

About Find Satoshi Lab
Founded in 2021, Find Satoshi Lab (FSL) is a gaming and development studio connecting players to Web3. FSL's mission is to educate and introduce individuals to Web3, while encouraging healthy living, and combating climate change. FSL brands include STEPN, MOOAR, and DOOAR. For additional information on Find Satoshi Lab, visit: http://findsatoshilab.com/

About Prodigital Future Fund
ProDigital Future Fund is a Web3 venture fund led by Ben Ng, a venture partner at an Asian private equity firm called SAIF Partners, and Curt Shi, a long-time tech investor in Web3 space. ProDigital Future Fund's investment strategy is to target early-stage and developing ventures, mostly Chinese-connected tech companies that are transitioning into emerging technologies such as Web3. For additional information on ProDigital Future Fund, visit: http://www.prodigitalfund.com/

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Government Blockchain Association (GBA) Deploys PlatoAi across GBA’s Opensource Intelligence Platform (OSINT)

Washington, D.C., Jul 6, 2023 – (ACN Newswire) – Government Blockchain Association (GBA) announced the successful deployment of PlatoAi's Ai Powered Web3 Intelligence inside the GBA Members Site. The result of this successful deployment stemmed from a strategic partnership between the two companies with a collective vision and deep commitment towards driving commercial adoption, standards and regulatory compliance of global government blockchain initiatives.

Through this deployment GBA's community will immediately benefit by accessing the latest premium intelligence across 36 Market Verticals including Ai, Digital Assets, Regulatory Initiatives, Web3, NFT's, CyberSecurity, ESG and Carbon Offsets. All content is accessible across 33 Languages including; Arabic, Bengali, Chinese, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hebrew, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Norwegian, Parsi, Polish, Portuguese, Punjabi, Romanian, Russian, Slovenian, Spanish, Swedish, Thai, Turkish, Ukrainian, Urdu and Vietnamese.

"The GBA is all about driving authentic connectivity that our global initiatives support. Plato's expertise in this area is an invaluable resource for accelerating our plans for 2023 and beyond. We are excited to take part in building what we believe will deliver high value to our community and beyond," said Gerard Dache, GBAs Founder and Executive Director.

"We are excited to continue our support for the GBA and its growing community of thought leaders and see a perfect fit for our Ai capabilities across driving intelligence and awareness of GBA's global initiatives. Driving authentic engagement and insights around the intelligence our engine produces was a driving force behind the integration into," said Bryan Feinberg, Plato's Founder and CEO.

Via the partnership, Plato's was able to quickly integrate its intelligence engine to help GBA drive more organic growth to its web engagements. The partnership promises deep value across each company's respective platforms and ecosystems and will leverage both Plato's and GBA's extensive blockchain expertise in designing innovative solutions using blockchain. GBA community members users will benefit from Plato's Ai curation as way to both engage and educate the expanding role digital assets are playing in across the world of decentralized finance.

The GBA will be hosting "Blockchain & Infrastructure. The Rise of Ai" Conference on September 28-29, 2023 in Washington DC. More information about the conference can be accessed here: https://gbaglobal.org/blockchain-infrastructure/

About Government Blockchain Association (GBA)

The Government Blockchain Association (GBA) is an international non-profit association focused on using blockchain technology to solve problems for government and public sector entities. GBA provides standards, education, and networking opportunities to facilitate understanding and implementation of blockchain solutions across various industries. For more information, visit https://gbaglobal.org.

About Plato (Platodata.Network)

Plato is an Ai powered content and syndication network that curates the latest in data intelligence across today's most innovative market verticals. The platform is designed to provide and ultra-safe and secure environment to consume sector specific real-time data intelligence while delivering fully secured Web3 connectivity across 36 market verticals and 32 languages. Amplifi, Plato's in-house syndication network currently syndicates content and press release's electronically to over 2000+ Publisher websites for deep and authentic connectivity. For more information, visit https://platoai.gbaglobal.org.

Media Contacts:
GBA
Gerard Dache
Founder & Executive Director
gerard.dache@gbaglobal.org

Plato Data Intelligence
Bryan Feinberg
CEO / Founder
zephyr@platodata.io

Source: Plato Data Intelligence (Platodata.io)

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

GBA Business Confidence Index eases to the 50 neutral mark

HONG KONG, Jul 3, 2023 – (ACN Newswire) – Standard Chartered and the Hong Kong Trade Development Council (HKTDC) today released the Standard Chartered GBA Business Confidence Index (GBAI) for the second quarter of this year. The current performance of "business confidence" eased to the 50 neutral mark while the expectations index remained in the expansionary territory (58.7), the second-highest reading in two years. The headline expectations index for credit also remained expansionary at 51.6, reflecting sanguine underlying growth expectations among companies in the region. Both expectations and credit indices point to further recovery in the third quarter.

Resilient investment appetite

The softer Q2 GBAI readings were expected considering the strong first-quarter GBAI performance brought by Mainland China's swift post-COVID sentiment rebound. The performance of underlying sub-indices was more diverse this quarter after a more uniform increase in Q1. Fixed Asset Investment had the highest score of 52.9 among components, suggesting that respondents remained optimistic towards the longer-term GBA business outlook, by acknowledging the need to invest in capacity expansion in anticipation of further demand normalisation.

Industry sub-indices vary

The current performance index for Professional Services rose 4.0 points to an industry-best 56.1. The sector's expectations index also outperformed by being the lone print above 60 (61.9). The current performance and expectations index of Financial Services and Innovation and Technology saw the largest quarter-to-quarter drops among sectors. Financial respondents' sentiment was driven by margin pressures and credit worries amid an easing recovery momentum while the tech sector continues to face many headwinds, led by the ongoing global semiconductor downcycle.

China on modest recovery path

"The dip in the index in Q2 reflects the normalisation of base effects, softening of nationwide macro data quarter-to-date, and the novelty of reopening was bound to wear off. However, the index did not fall back into contractionary territory, suggesting only a softening of the recovery momentum. Given that GBA is a microcosm of Mainland China's diverse economic drivers making it a bellwether for overall growth, we see the mainland managing to stay on a modest recovery path," said Mr Kelvin Lau, Senior Economist, Greater China, Standard Chartered.

More diverse performance among GBA cities

There was a more diverse city performance among the current performance sub-indices. Most notably, Shenzhen (from 51.5 to 51.9) and Dongguan (from 53.5 to 56.4) showed their second consecutive improvement while other city sub-indices fell. Shenzhen weathered weaker responses from its tech respondents by posting the highest manufacturing and trading score among all city sub-indices. Guangzhou and Hong Kong, the other two GBA core cities, outperformed Shenzhen across the other four industry sub-indices.

Sustained recovery momentum in the coming quarters

Ms Irina Fan, Director of Research at the HKTDC, said: "We continue to take comfort from the fact that all city expectations indices stood comfortably in the 50+ expansionary territory, consistent with our view of a sustained recovery momentum in the coming quarters. That includes Hong Kong, which, despite returning to the lowest score of the pack, still managed to record a solid 54.7 expectations print (led by retail and professional services), making it two straight quarters of expansion."

Overseas global supply chain migration yet to happen

Although there has been a lot of discussion about global supply chain shifts in the market, 91% of survey respondents said they have not moved any capacity overseas, and 87% reported no plans to do so for now. The survey found the biggest hurdles and concerns for relocating production capacity overseas are "cost of production higher than expected" topped the list at 34.6%, followed by "poor labour quality and productivity" at 29.9%, and "lack of good suppliers / proximity to suppliers" at 22.8%.

Related materials
– Standard Chartered GBA Business Confidence Index Report: https://www.sc.com/hk/gba/gba-index-report/
– HKTDC Research: https://research.hktdc.com/en/article/MTQxNzI2NzQ2MA

About Standard Chartered

We are a leading international banking group, with a presence in 57 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR's three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries

Corporate Affairs Department
Standard Chartered Bank (Hong Kong) Limited
Sharon Cheung, Tel: +852 3843 0144, Email: Sharonps.cheung@sc.com

Communications & Public Affairs Dept
Hong Kong Trade Development Council
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Rollux, a Novel EVM Layer-2 Backed by Bitcoin, Goes Live

DUBAI, Jun 28, 2023 – (ACN Newswire) – SYS Labs, a Web3 product suite powered by Syscoin, has announced the launch of Rollux, an innovative EVM Layer-2 solution. Rollux is designed to optimize the performance of Ethereum network applications by harnessing the strength of Bitcoin, presenting a unique approach to scaling Ethereum that distinguishes SYS Labs from its competitors.

Rollux is the inaugural product in a line of advanced solutions introduced by SYS Labs. As part of a comprehensive ecosystem, it leverages the capabilities of SuperDapp, an AI-enhanced Web3 social platform, complete with essential chat features, a built-in non-custodial wallet for seamless asset management, and tailored versions for both mobile and web platforms. This integration of AI and blockchain technologies, fortified with end-to-end encryption, signifies a considerable leap in the evolution of the industry.

The ecosystem also incorporates Pegasys DeFi exchange and AMM, Luxy NFT Platform, Pali Wallet (web & mobile), DAOSYS, and Camada, a noncustodial, regulatory-compliant crypto trading platform to accelerate mainstream investments and self-custody. In a strategic move, SYS Labs has formed alliances with multiple teams also launching their products on Rollux, further driving the development of a robust ecosystem that aligns closely with the Ethereum mainnet.

Jagdeep Sidhu, CEO of SYS Labs, articulated the profound implications of Rollux, asserting, "Rollux is the embodiment of our shared vision and unwavering commitment. We're delivering on our promise of speed, decentralization, security, affordability, and scalability – the core pillars of blockchain technology that we always believed were vital for fostering mass adoption."

Rollux sets a new industry standard as the highest-performing EVM-rollup solution, offering unparalleled speed, scalability, and affordability. It provides the fastest speeds, highest throughput at scale, and the most affordable user experience with the lowest transaction fees, all while maintaining high levels of decentralization and security through merged mining with Bitcoin – the only major rollup to implement this strategy.

The introduction of Rollux is a monumental event for the broader blockchain industry. It addresses the enduring blockchain trilemma, fueling optimism for the future and facilitating mass adoption while upholding the fundamental principles that originally imbued blockchain with value.

About Rollux

Built by SYS Labs, powered by Syscoin, and fueled by its utility token, $SYS. Rollux is an EVM-equivalent optimistic rollup that inherits the security of Bitcoin's mining network and Syscoin's Layer 1 finality and data availability. Rollux functions as Syscoin's Layer 2 to help provide the unprecedented scalability necessary for an exponential increase of potential use cases, and sets the stage for realizing mass adoption. Rollux offers what no one else does: unmitigated security, speed, decentralization, and affordability.

Website https://rollux.com/ | Syscoin's Website https://syscoin.org/ | Twitter https://twitter.com/RolluxL2 | Discord https://discord.com/invite/rollux

About SYS Labs

SYS Labs is a unicorn of unicorns, building the fundamental layers of true Web3, and connecting users, dApps, and assets to create seamless flows between ecosystems. SYS Labs creates the infrastructure, dApps, and tools necessary to meet the needs and desires of a global population, all backed by Bitcoin's security and enhanced by Syscoin's finality and groundbreaking L1 data availability solution, PoDA.

Website https://syslabs.com/ | Medium https://medium.com/@SYSLabsOfficial | Twitter https://twitter.com/SYSLabsOfficial

Press Contact:
Dylan Stewart
Email: dylan@syslabs.com
Telegram: @xKintsugy
PR: info@cryptoshib.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SourceLess Brings Its Vision to ICT Spring 2023 Global Tech Conference

Luxembourg, Jun 24, 2023 – (ACN Newswire) – SourceLess, a groundbreaking technology company, announces its participation at the prestigious ICT Spring 2023 Global Tech Conference, where founder and CEO Alexandru Stratulat will be a featured speaker. The event is scheduled for June 29-30 in Luxembourg. This participation reflects SourceLess' commitment to sharing its groundbreaking ideas and insights with the global tech community at this renowned event.

SourceLess Brings Its Vision to ICT Spring 2023 Global Tech Conference

ICT Spring is an acclaimed event within the global tech community that sparks collaboration and innovation between business leaders, innovation managers, startups, researchers, and venture capitalists. The conference is a notable event in Luxembourg's calendar and is highly regarded for fostering discussions on critical topics such as sustainability, finance & technology, cyber & quantum computing, big data & cloud, health technologies, Web3, and AI.

Alexandru Stratulat, a seasoned blockchain architect and the creator of the SourceLess platform will participate in a round table discussion titled "How AI will disrupt businesses and society in the years to come?", scheduled for June 30 at 15:05.

Stratulat's in-depth knowledge and understanding of blockchain technology and AI & Machine Learning will offer unique insights into how these technologies can bring about radical changes both in the business landscape and also in society. The company's slogan: "Connecting every human and ever existing blockchain" is an indication of its commitment to breaking down barriers in technology, fostering universal connectivity, affordability and facilitating the seamless integration of humans and blockchain systems.

SourceLess has embarked on an extraordinary journey to revolutionize the digital realm, and its accomplishments thus far have been nothing short of remarkable. SourceLess has successfully implemented its patented technology in the alpha version, achieving an astonishing feat of writing a block of information in a mere 8 to 10 seconds, surpassing the 12-second mark of a renowned blockchain version 2.0. In a mere two months, with the installation of just 103 SourceLess validator nodes, the same volume of information can now be written in less than a second, establishing SourceLess as the fastest blockchain worldwide. This breakthrough redefines the concept of "Transactions Per Second" to "Transactions Per Millisecond," exemplifying infinite scalability and unrivaled speed.

Ownership in this ecosystem is lifelong, ensuring that the rules of the game cannot be changed midway. It provides a new world, a native web3, which is poised to solve the issues prevalent in the current web2.

SourceLess is eager to contribute to the dialogue about the future of technology and innovation at ICT Spring 2023 and lay on the table concrete solutions for business operations, enhanced customer experience and sustainable growth.

Contact Information:
Iulian Bondari
Head of Marketing
iulian@sourceless.io
+40736595004

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Crypto Oasis Ventures and Roland Berger Officially Launch “The Green Block”

DUBAI, Jun 21, 2023 – (ACN Newswire) – The Green Block, a groundbreaking initiative dedicated to fostering Environmental, Social, and Governance (ESG) projects in Web3, was officially launched yesterday at BEEAH Group headquarters in the United Arab Emirates. This global initiative, spearheaded by Crypto Oasis Ventures in collaboration with the management consultancy Roland Berger, marks a significant step towards creating a sustainable future by leveraging the power of Blockchain and AI technologies.

Highlights:
– The Green Block is a global Think Tank and Launchpad that aims to accelerate and promote the use of Web3 and AI technology for the improvement of the environment, social and governance related initiatives that improve the quality of life.
– It is initiated by Crypto Oasis Ventures in partnership with Roland Berger.
– The initiative will bring together projects and thought leaders that utilize technology for advancing sustainability related projects.
– BEEAH Group is the Think Tank's first Patron with Khaled al Huraimel, Group CEO also joining The Green Block Advisory Council.

The primary objective of The Green Block is to establish an ecosystem that connects stakeholders from diverse sectors to develop and implement impactful Web3 solutions pertaining to corporate governance, environmental sustainability, and social responsibility. By leveraging the potential of Web3 and AI, The Green Block aims to address global challenges in line with the UAE's COP28 agenda and the United Nations Sustainable Development Goals (SDGs).

Faisal Zaidi, Co-founder of Crypto Oasis Ventures, stated, "The launch of The Green Block represents the first milestone in our journey to create a sustainable future through Web3 initiatives in the Environmental, Social, and Governance (ESG) field. By connecting projects, providing and enabling infrastructure, and empowering talent, The Green Block will facilitate the development and implementation of sustainable Web3 solutions on a global scale. Aligning ourselves with the objectives of COP28 and the UAE, we aim to take this initiative global."

As the inaugural patron of The Green Block, BEEAH assumes a vital role in propelling the mission of the initiative. As an international holding group and pioneer for sustainable, smart solutions for future ready cities, BEEAH understands the importance of fostering sustainability and aligning with the UAE's agenda for COP28. Through their partnership with The Green Block, BEEAH underscores its dedication to environmental responsibility and social progress.

Khaled Al Huraimel, Group CEO of BEEAH Group, emphasized the significance of The Green Block's launch, stating, "There is immense potential in Blockchain, AI and Web3 technologies and I am excited to see how the Green Block leverages these to revolutionize ESG projects. As one of the first adopters of blockchain technologies in Sharjah, BEEAH Group's vision is built on the twin pillars of sustainability and digitalisation. As a patron of The Green Block, BEEAH Group looks forward to fostering innovation and engaging with stakeholders to achieve sustainability objectives using technology while overcoming global challenges."

On the steering committee of The Green Block initiative, the representation from Roland Berger contributes to determining the strategic direction of the initiative. The committee makes key decisions that shape the initiative's long-term plans and immediate goals, helping to ensure the continuity of its mission. Technology like Web3 and AI will contribute significantly to a path to sustainability – The Green Block Think Tank and Launchpad will accelerate this transition and connect the global thought leaders.

Pierre Samaties, Partner at Roland Berger Middle East and leading the Global Digital Assets, Web3 and Metaverse practice, expressed his enthusiasm for The Green Block's potential impact, saying, "The launch of The Green Block initiative is the start of an important Think Tank and Launchpad for Web3 and AI technology that will support sustainability and quality of life. Many use cases of the technology are a perfect fit for advancing renewable power, boosting financial inclusion and incentivizing environmental improvements."

To learn more, please visit www.thegreenblock.com

About The Green Block

The Green Block is a global Think Tank and Launchpad with the primary objective of accelerating and strengthening the use of Web3 and AI technology for the betterment of environmental, social, and governance initiatives, that ultimately enhance our quality of life. Spearheaded by Crypto Oasis Ventures, in collaboration with the management consultancy Roland Berger, this ground-breaking global initiative denotes a significant stride towards the creation of a sustainable future.

At its core, The Green Block will facilitate access to crucial resources including investors, grants, public funding, and tokenization. By doing so, it will empower projects to make substantial progress and attain goals, while establishing a robust infrastructure. It will connect projects with appropriate Blockchain protocols, while providing regulatory guidance, producing insightful reports, and organizing community networking opportunities accompanied by effective communication channels. Furthermore, The Green Block will serve as a catalyst for collaboration and knowledge exchange, while empowering talented individuals through thought leadership platforms like publications, interviews, podcasts, and round table discussions.

The Green Block aims to create an ecosystem that supports transformative projects and contributes to a sustainable and inclusive future.

About Crypto Oasis Ventures

Crypto Oasis Ventures is a leading Venture Builder with a strong focus on the Middle East and North Africa region. It has successfully established the Crypto Oasis Ecosystem, which has emerged as the world's fastest growing Blockchain Ecosystem. In the United Arab Emirates alone, the ecosystem has identified over 1,800 organizations and boasts a workforce of more than 8,650 individuals dedicated to the Blockchain industry. The ecosystem encompasses various stakeholders, including Investors & Collectors, Start-Ups & Projects, Corporates, Science & Research Institutions, Service Providers, and Government Entities & Associations.

As one of the pioneers in the local venture building landscape, Crypto Oasis Ventures benefits from a global network and maintains robust connections to the renowned Crypto Valley in Switzerland. Notably, it holds the distinction of being the first Web3 venture building company based in the Dubai International Financial Centre (DIFC). The primary goal of Crypto Oasis Ventures is to nurture the ecosystem and expedite the growth of Web3-related organizations in the Middle East, North Africa and beyond.

Crypto Oasis Ventures has spearheaded several successful ventures, including Crypto Oasis Labs, Crypto Oasis Sentio, arte, Crypto Oasis Games Guild, Inacta Communications, and The Green Block. These ventures showcase the company's commitment to innovation, collaboration, and sustainable development within the Web3 space.
www.cryptooasis.ae

About Roland Berger

Roland Berger is the only management consultancy of European heritage with a strong international footprint. As an independent firm, solely owned by our Partners, we operate 51 offices in all major markets. Our 3000 employees offer a unique combination of an analytical approach and an empathic attitude. Driven by our values of entrepreneurship, excellence and empathy, we at Roland Berger are convinced that the world needs a new sustainable paradigm that takes the entire value cycle into account. Working in cross-competence teams across all relevant industries and business functions, we provide the best expertise to meet the profound challenges of today and tomorrow. www.rolandberger.com.

Press contact:

Maria Fernandez
Marketing Manager, Crypto Oasis Ventures
Tel.: +971 056 385 3146
E-mail: maria@cryptooasis.ae

Silvia Constanze Zoesch
PR Global, Roland Berger
Tel.: +49 160 744-8750
E-mail: silvia.zoesch@rolandberger.com

Salma Halawa
PR Middle East, Roland Berger
Tel.: +971 056 385 3146
E-mail: salma.halawa@rolandberger.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com