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Ethereum (ETH) Price Likely to Bounce Due to This Key Factor: Report – U.Today

Yuri Molchan

Recent analytics report suggests that price bounce for Ethereum may be coming soon

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Santiment on-chain analytics company has posted a tweet to encourage the part of the crypto community that is holding ETH.

Currently, the tweet states, ETH is trading at the $1,700 level, and a lot of traders are growing impatient about it. The recent price drop from the $1,741 mark may indicate that a large number of wallets are dropping ETH now and are continuing to do it as ETH is sitting at the current price mark.

However, citing similar situations in the past, Santiment stated that when traders begin to dispose of their cryptos at lower values, the chances of a price rebound grow higher.

As reported by U.Today earlier this week, a cofounder of the Ethereum chain and its frontman, Vitalik Buterin, transferred 3,000 Ethereum (worth approximately $4.95 million at the time of the transaction) to a wallet labeled Vb2.

This transaction sparked a wave of curiosity and heated discussions within the crypto community. Some believe that this could have been Buterin redistributing his crypto riches to protect them against possible hacks. The second version assumed that Buterin could cash out these $5 million.

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@lookonchain tracker of "Smart Money" wallets, who regularly shares data on the transactions they make and how much money they lose or earn, announced that a few hours ago, a whale that had remained dormant for two years had awakened and deposited 6,087 ETH to Binance.

This is quite a large amount in fiat, too, since it is worth $10.23 million. Now, Ethereum is changing hands at $1,715 after the recent price fall. It is quite likely that this whale may be either selling at a loss or he could be moving funds to Binance, expecting the ETH price to rebound soon and only then make a sale on Binance.

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3 Millionaire-Maker Cryptos to Hold Through Thick and Thin – InvestorPlace

Source: Have a nice day Photo/Shutterstock

After peak euphoria in 2021, the cryptocurrency market has witnessed an extended bear market. I believe that was necessary to flush out the excesses in the system. The number of listed coins and tokens had surged, and there was more speculation than promising long-term projects.

Bitcoin (BTC-USD) witnessed a sharp reversal in 2023 and this might signal the end of the bear market for cryptocurrencies. Its possibly the best year to consider long-term crypto investments. If the bull market is back in the coming quarters, multibagger returns will come quickly.

This article focuses on crypto investments worth holding irrespective of bull and bear phases. If we look at equity markets, there have been sustained value creators among stocks over the last few decades. The same is likely to hold true for cryptos where a selected number of assets will create immense value in the long-term.

Lets discuss three long-term crypto investments that could make you rich by holding until 2030.

Source: Sittipong Phokawattana / Shutterstock.com

Without a doubt, my first investment in the cryptocurrency space would be Bitcoin. The digital asset can be likened to a blue-chip stock. Its worth noting that after remaining in a downtrend for an extended period, Bitcoin has surged higher by 56% year-to-date.

I believe the cryptocurrency will trend higher in the coming quarters. One reason to be bullish is the point that Bitcoins halving is due in 2024. In the past, this event has been associated with a big rally in the cryptocurrency. Standard Chartered expects Bitcoin to touch $120,000 by the end of 2024. Given the intensity of the rally in the past, I would not be surprised if the crypto reaches this target.

Another reason to be bullish on Bitcoin is the wider adoption of cryptocurrencies. Some estimates suggest that the number of crypto users could touch 1.2 billion by 2025. For new investors, considering exposure to Bitcoin is an obvious choice. With limited supply, the digital asset will trend higher as demand swells.

Source: Thaninee Chuensomchit / Shutterstock.com

If I had to consider exposure to only two cryptocurrencies, it would be Bitcoin and Ethereum (ETH-USD). Ethereum has underperformed in 2023 as compared to Bitcoin. However, I would not be surprised if Ethereum is an outperformer in the next five years.

With the Ethereum merge completed, the networks energy usage is likely to decline by 99%. I believe that this factor is still to be discounted in the asset. In July 2022, Vitalik Buterin clearly stated that Ethereum development would likely be only 55% completed following the merge. As the roadmap progresses in the next few years, Ethereum is likely to trend higher.

I believe there are two big impending catalysts for Ethereum price action. First, if the network fee is reduced, its likely to have a big impact on blockchain usage. Further, the transaction speed needs to increase through sharding. Overall, Ethereum seems poised to be a multibagger over the next few years.

Source: Shutterstock

Zilliqa (ZIL-USD) is another name among long-term crypto investments that could deliver multibagger returns. ZIL has remained sideways year-to-date, even as the bigger names surge higher. I believe a big breakout on the upside is imminent.

As an overview, Zilliqa is the worlds first sharding-based blockchain. Parallel transaction verification in sharding allows for faster transaction speed. At the same time, the transaction cost is significantly lower as compared to Bitcoin or Ethereum.

When it comes to generating returns, there is another benefit thats worth discussing. ZIL coin currently offers an APR of 13.08%. Robust! According to data, around 30% of the circulating supply is already staked.

The supply will further tighten as the number of dApps on the blockchain increases. In my view, Zilliqa can deliver 10-bagger or 20-bagger returns from current levels if Bitcoin trades above previous highs.

On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.

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From Ethereum to Bitcoin Spark: How This New Cryptocurrency is … – Blockzeit

Technology has surged in users and real-world applications exponentially. From Web 1.0, when the internet was a hub for large chunks of information (Wikipedia), Web 2.0, where the users were the product as their information was taken and regulated to a certain degree, to the current Web 3.0 involving advanced decentralized finance.

Blockchain technology has also had its inaugurations, including Bitcoin and Ethereum, which have played a pivotal role in creating awareness. Bitcoin has witnessed whales such as the Winklevii twins and Ethereum Donald Trump, who put money into the niche. Nevertheless, Bitcoin Spark is the new digital platform leading to swifter development in the crypto industry.

Developed by Vitalik Buterin and his compatriots, Ethereum is a blockchain network that seeks to amend challenges within the Bitcoin ecosystem. The platform launched smart contracts to allow programmers in DeFi to develop decentralized applications. The latest upgrade, ETH 2.0, has also generated attention as the platform transitioned from a proof-of-work to a proof-of-stake blockchain.

Blockchain technology needs a network that proposes security, low transaction costs, and high efficiency. Bitcoin Spark is the new platform with all the traits required for the potential application in decentralized finance. The project aims to solve pertinent and paramount challenges, including lowering transaction costs, improving scalability, and applying a smart contract layer that vast developers can utilize to create layer-2 dApps. Bitcoin Spark will have a potent rate of attracting venture capitalists and individual investors.

In the Web3 community, platforms with diverse revenue sources always get massive attraction from potential Web3 clients. In this case, Bitcoin Spark aims to improve blockchain technology through its two-way income streams: decentralized processing power rental and advertisements. A small, unused space within the projects application and home website will be used for advertising, and brands will be required to pay for the slots in BTCS tokens, the native crypto asset of this new Web3 platform.

Bitcoin Spark team members will take 50% of the revenue from promotion for maintenance and upkeep. Advertisements will work on an elastic mechanism involving supply and demand, whereby the advertising fee will increase when the market is high. When demand plunges, the costs will reduce.

The platform also advocates for community policy that encourages partakers to vote against an advert that is vulgar and non-conforming with the required standards and terms of service. The team will also conduct a manual check-up on the advert to process the flag when the dispute reaches the consensus stage.

Miners and validators will provide processing power to the network that individuals and organizations will use to solve intricate programming equations and render video. From this method, the team will take 3% of income.

Mining should be decentralized in cryptocurrency since it incentivizes the confirmation of new blocks and the generating of new coins. The mechanism, therefore, leads to improved security of a network. Bitcoin Spark aims to strengthen the mining capabilities of individuals in the ledger technology.

The incentive will work in a new mechanism peculiar to the industry called proof-of-process that integrates PoW and PoS. Moreover, the platform has a systematic tool that prevents unequal reward allocation based on stake size and raw processing power. It enhances the small scale and large partakers to earn in a linear method. Being on its last laugh of the ICO phase three, blockchain enthusiasts are acquiring BTCS at a cheaper rate of $2 with a 12% bonus. Once the next phase begins, the BTCS price will increase, and the bonus will subsequently reduce.

Website: https://bitcoinspark.org/

Buy BTCS: https://network.bitcoinspark.org/register

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Crypto: Binance at the forefront of the fight against ISIS – The Cryptonomist

Recently, the crypto exchange Binance and the intelligence firm TRM Labs played a key role in identifying a number of individuals connected with the ISIS terrorist movement.

Their work helped Tajikistan law enforcement agencies arrest several people from Khorasan province including Shamil Hukumatov, a leading member of the Islamic State.

This news confirms the commitment of the two companies to work with local authorities around the world to combat crime within the blockchain landscape.

Below are all the details.

A few days ago crypto exchange Binance and forensic analysis firm TRM Labs worked together with Tajikistans financial monitoring department to identify and arrest a number of individuals linked to the terrorist organization ISIS.

Binance officially communicated its involvement in the matter through a blog post, which highlighted its key role in enabling local law enforcement to intervene within the province of Khorasan (IKSP).

A daily routine scan on threats in the open source world allowed the exchanges investigative team to notice a strange Telegram group that terrorists were using to communicate.

Through that information, Binance analysts were able to identify a crypto wallet that was being leveraged by ISIS to receive donations.

It is unclear how they then came to locate members of the Islamic State, but presumably consulting the KYC information of the platforms suspicious clients and tracking their linked IP addresses led to their capture.

Those arrested include a prominent ISIS figure, namely Shamil Hukumatov, who has been engaged in recruiting new recruits for the paramilitary organization and money laundering in recent years.

Hukumatov was apprehended in Istanbul along with his wife through a police raid on his home, where documents and information related to the Afghan groups activities were found.

Once again, Binances dedication and commitment to fighting financial crimes within blockchain environments is confirmed, with a view to making the crypto ecosystem a safer place.

The exchange itself commented on the accomplishment of their work this way:

These ISKP members have been actively involved in planning upcoming attacks, and their arrests are considered a huge win for counterterrorism efforts both regionally and globally.

Markus Thielen, head of research at Matrixport, believes that as a result of Binances numerous interventions in collaboration with law enforcement to block illicit activity, malicious users will begin to use decentralized mixers like Tornado Cash more frequently to protect their privacy.

The blockchain is a public place and totally traceable, but these platforms allow users to lose track of their movements in crypto by increasing the privacy of transactions.

In any case, authorities may soon block these kinds of platforms: last year Tornado Cash was sanctioned by the US Treasury and a few days ago the last two founders of the project were arrested.

TRM Labs has played a crucial role along with Binance in the affair involving the arrest of several members of the ISIS terrorist group in Tajikistan and Turkey.

Specifically, the intelligence firm, through monitoring transactions on blockchain and linking the flows to suspicious activity, has been able to identify a number of suspicious movements that took place on the Tron network.

Forensic work has revealed that many areas stretching from Syria to Central Asia have been the focus of a number of terrorist activities that have been financed through crypto donations with the USDT stablecoin.

In Pakistan and Afghanistan, crypto wallets were unearthed that recorded donations with the Islamic group, with respective volumes of $40,000 and $10,000.

In Indonesia, several addresses were held responsible for transiting approximately $517,000 at an exchange based in Indonesia with the goal of facilitating the paramilitary groups funding in Syria.

By contrast, several pro-ISIS addresses in Tajikistan have been traced using cryptocurrency, including to recruit fighters to join the ISIS affiliate in Afghanistan (ISKP).

A fundraising campaign included in this network had received about $2 million in USDT on Tron throughout 2022.

By tracking the movements of the address and alerting the partner Binance, it was possible to block the assets in question and trace the identity of the campaigns active party.

Trons blockchain is confirmed as one of the preferred cryptographic networks for users to transfer USDT, given the speed of execution of orders and the low cost in terms of fees.

Of course, it is not only terrorist groups such as ISIS that use the decentralized infrastructure, but also and especially ordinary users who take advantage of the benefits of the crypto world in a legitimate way.

Just think that there are more USDT on Tron than on Ethereum. In particular, Tethers stablecoin has a supply of 42.83 billion units on Justin Suns network and 39 billion on that of Vitalik Buterin.

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Apple Executives Fall Victim to Fake Tim Cook Account on Instagram – OPP.Today

Several high-ranking Apple executives, including Lisa Jackson and Alan Dye, were found to be following a suspicious Instagram account that claimed to be Tim Cook, the CEO of Apple. The account, with the username @tim.d.cook, surfaced in July 2023 and gained attention after posting content related to Apples CEO. The first post featured high-quality photographs taken with an iPhone, followeda promotional video for a campaign in collaboration with 3DPets. However, sources familiar with the matter confirmed that Cook had no association with the account.

The fake Instagram account appeared credible due to its resemblance to Cooks reserved and professional demeanor on Twitter, where he does not typically engage in personal content sharing. This incident highlights the issue of impostor accounts on social media platforms and the potential harm they can cause. It is particularly concerning given the recent controversies surrounding Twitters transformation into X under Elon Musks ownership.

Impersonation accounts pose a significant risk, as demonstrateda previous case where an imposter account claimed to be Ethereum co-creator Vitalik Buterin. This account engaged with over 570,000 users through sponsored ads and a staking scam. The imposter account had several posts and used Buterins display image and a link to his blog to appear authentic. Similar impersonation issues have also plagued Elon Musks Twitter account, leading to delays in the relaunch of Twitter Blue until preventative measures could be put in place.

These incidents emphasize the importance of ensuring the authenticity of social media accounts, especially those belonging to high-profile individuals. Users should exercise caution when engaging with accounts claiming to be well-known personalities and verify their legitimacy through official sources. Social media platforms also need to implement stricter measures to detect and prevent impersonation accounts to safeguard users from potential scams and misinformation.

Sources: Top Apple execs tricked into following a fake Tim Cook account on Instagram 9To5Mac Metas AudioCraft, Apples Investment, Cortanas Demise And More: AI Round-Up This Week Benzinga

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What Is Xahau & How Does It Work? How To Get Its XRP+ Tokens? – Captain Altcoin

Home Journal What Is Xahau & How Does It Work? How To Get Its XRP+ Tokens? What Is Xahau?

According to its whitepaper, Xahau is a new smart contract sidechain for the XRP Ledger (XRPL) ecosystem. It implements a feature called Hooks that allows developers to create decentralized applications (dApps) and smart contracts on top of the XRPL.

Xahau is a fork of the XRPLs open source codebase rippled. It retains core XRPL features like the consensus protocol, decentralized exchange, and burning transaction fees. But it adds the new Hooks functionality for smart contracts.

Xahau works very similarly to the XRPL itself. It uses the same consensus protocol to validate transactions and achieve agreement on the state of the ledger.

The big difference is the addition of Hooks. Hooks are small pieces of code that execute custom logic on transactions before they are finalized. This allows things like enforcing business rules, escrow arrangements, registries, and other smart contract capabilities.

Xahau is meant to run in parallel to the main XRPL as a sidechain. This allows the XRPL ecosystem to start benefiting from smart contract capabilities before they may be added to the main XRPL itself.

XRP+ (pronounced XRP Plus) is the native token of the Xahau network. It serves the same function as XRP does on the main XRPL providing anti-spam protection by charging fees for transactions.

The supply of XRP+ is uncapped. The tokens are acquired in two main ways:

XRP+ has its value anchored to XRP. The Burn2Mint portal allows users to burn XRP on the mainnet in exchange for minting an equal amount of XRP+ on Xahau. This creates a direct valuation link between the two.

The supply of XRP+ is designed to be somewhat proportional to burned XRP. Up to the current XRP circulating supply can be minted via Burn2Mint. After that, monthly emissions are enabled to incentivize network activity.

So while XRP+ is a separate token, its value stems from and is backed by direct convertibility to XRP.

There are two main methods to acquire XRP+:

Xahau launched with some initial distribution to founders and launch partners. But ongoing, XRP+ has to be acquired through burn-and-mint or earning activity rewards.

Xahau is not seen as competitive to XRP or harmful for Ripple. Rather, it is designed to complement the XRPL ecosystem.

It implements smart contract capabilities that may eventually make their way back into the main XRPL. Having a live sidechain to test this is seen as beneficial.

The burn-and-mint process serves as a decentralized bridge between the chains. It does not substantially impact XRP supply unless users highly value the Xahau features.

Ripple is not involved in Xahaus development. But the project utilizes Ripples open source code and is meant to expand the functionality of the XRP Ledger as a whole.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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Smart Contracts Market by Size, Share Trends, Emerging Trends, Qualitative Outlook and Worldwide Forecast – Benzinga

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Due to the impact of the Russia-Ukraine conflict and the COVID-19 pandemic, the global economy is expected to recover, leading to an expansion of the worldSmart Contracts Marketsize from USD million in 2021 to USD million in 2022, with a projected CAGR that will generate substantial revenue until 2030. As a result, consumers gain valuable knowledge about the industry and its organizations from past, present, and future perspectives, enabling informed investment decisions and resource allocation. This research report provides up-to-date analysis and forecasts for various market segments and geographical regions. It offers insights and analysis based on in-depth consultations with key stakeholders, including CEOs, Managers.

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According to this latest study, the 2021 growth of Smart Contracts will have significant change from previous year. By the most conservative estimates of global Smart Contracts market size (most likely outcome) will be a year-over-year revenue growth rate of % in 2021, from US$ 207 million in 2020. Over the next five years the Smart Contracts market will register a 25.1% CAGR in terms of revenue, the global market size will reach US$ 507.3 million by 2026.

This report presents a comprehensive overview, market shares, and growth opportunities of Smart Contracts market by product type, application, key players and key regions and countries.

Segmentation by type:Public BlockchainPrivate BlockchainOthers

Segmentation by application:FinancialGovernmentInsuranceHealthcareSupply ChainOthers

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Findings/Results:Presents the main information, data, and analysis related to the topic. It may include charts, graphs, tables, or other visual aids to support the findings.

Analysis and Interpretation: Provides an in-depth examination and interpretation of the findings. It may involve comparing data, identifying trends, and drawing conclusions based on the evidence presented.

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Conclusion: Summarizes the key points discussed in the report and reinforces the main findings.

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North America Emerges as Key Driver in the Rapid Growth of … – GlobeNewswire

Dublin, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The "Blockchain Supply Chain Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.

The Blockchain Supply Chain Market size is expected to grow from USD 0.56 billion in 2023 to USD 4.21 billion by 2028, at a CAGR of 49.87% during the forecast period (2023-2028).

A growing requirement for supply chain transparency and surging demand for heightened security of supply chain transactions are significant growth factors for the market. Increased automation and removal of intermediaries with blockchain in supply chain management would generate possibilities for market growth.

Key Highlights

The platform component part dominated the overall blockchain supply chain market and is anticipated to remain aggressive due to an increase in the adoption of blockchain platforms to streamline the supply chain processes. The segment is anticipated to observe significant growth in the upcoming years due to the advent of affordable and diverse pricing plans offered by market players.

Companies should continue to monitor the players in their market that have started experimenting with blockchain as it develops traction. Blockchain greatly benefits from the network effect; once a critical mass forms in a supply chain, it is simpler for new participants to join and reap the benefits. Companies could observe competitors and other supply chain participants for clues on when to develop a blockchain prototype.

Forward-thinking companies are planning to invest when blockchain gets to the point where it can deliver value. However, blockchain has yet to provide full value beyond food or pharmaceutical applications. As a result, only 6% of supply chain leaders consider blockchain to be a high priority, according to Kenco Group.

Blockchain Supply Chain Market Trends

Retail & Consumer Goods to Dominate the Market

The retail industry controls the blockchain supply chain market share. It is supposed to remain dominant due to a surge in adoption by retail players to streamline their supply chain processes. Moreover, blockchain assures quality, product safety, reliability, and authenticity, along with enabling supply chain partners to know about their product location. These determinants drive market growth for blockchain in the retail industry.

Counterfeit sneakers make up about 40% of the estimated USD 600 billion global fake fashion industry. The traditional methods manufacturers have used to assure authenticities, such as seals and certificates, can themselves be counterfeited. But retailers are beginning to implement blockchain technology to solve the counterfeiting problem.

An increase in demand for transparent transactions and smart contracts is the key factor driving the market growth for blockchain in the retail industry. Smart Contracts can help in automating payment processes for online as well as offline transactions. It can save time and cost for companies by removing the merchant (middleman), who charges extra for authenticating the transaction.

The retail industry, owing to the rise in adoption by retail players to streamline their supply chain processes, is anticipated to dominate the blockchain supply chain market. For instance, in a survey by Eyefortransport Ltd. (left), the most significant share of spending was directed toward understanding the technology, with 38.2% of retailers, brands & manufacturers, and 55.3% of logistics service providers stating that they spent money on blockchain in the supply chain area.

Blockchain technologies not only enhance supply chain automation and minimize human intervention but also provide high traceability, allowing one to track goods in real time through all supply chain stages and store all necessary data on a decentralized ledger. With blockchain's high traceability characteristic, vendor conflicts, which are most frequent in retail enterprises, can be quickly resolved because all information linked to the source of disputes will be readily accessible to all.

North America to Drive the Market

North America is recognized as the most advanced region in terms of technology appropriation and infrastructure. The broad behavior of principal industry players of blockchain technology solutions in this region is the primary driving determinant. Organizations across industry verticals, such as manufacturing, healthcare, retail and consumer goods, and logistics, provide essential growth opportunities for vendors.

North America commanded the global market and is anticipated to remain aggressive during the blockchain in the retail market forecast period due to the presence of major market players and ongoing developments in blockchain technology. The growth in data security concerns amongst retailers is also the principal factor that is supposed to feed the market growth in this area in the coming years.

Blockchain Supply Chain Industry Overview

The Blockchain Supply Chain Market is moderately competitive, and the ecosystem comprises some major vendors, such as IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, and AWS Inc., among others.

Notable players in the market adopt advanced strategies such as collaboration, mergers and acquisitions, and partnerships that help them get a larger share of the global market. Many businesses are anticipated to enter the market shortly with the expected profitable growth of the market.

A selection of companies mentioned in this report includes

For more information about this report visit https://www.researchandmarkets.com/r/irb82r

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Meet Five Generative AI Innovators in Africa and the Middle East – Nvidia

Entrepreneurs are cultivating generative AI from the west coast of Africa to the eastern edge of the Arabian Desert.

Gen AI is the latest of the big plans Kofi Genfi and Nii Osae have been hatching since they met 15 years ago in high school in Accra, Ghanas capital that sits on the Gulf of Guinea.

We watched this latest wave of AI coming for the last few years, said Osae, a software engineer who discovered his passion for machine learning in college.

So, late last year, they expanded Mazzuma their mobile-payments startup thats already processed more than $150 million in transactions to include MazzumaGPT.

The large language model (LLM) trained on two popular blockchain languages so it can help developers quickly draft smart contracts, a Web3 market that International Data Corp. projects could hit $19 billion next year.

In its first month, 400 developers from 70 countries used the LLM that sports 175 billion parameters, a rough measure of a models size and strength.

Its the latest success for the pair that in 2018 made Forbes list of 30 top entrepreneurs in Africa under 30.

Given the high growth and large demographics, there are big opportunities in this region, said Genfi, who started his first company, an Apple device reseller, when he was 19.

Osae nurtures that potential as founder and chair of the 100+ member AI Association of Ghana. I think were on a trajectory to leapfrog progress elsewhere, he said.

About two years ago and 6,000 miles to the northeast, another pair of entrepreneurs launched a generative AI business in the Persian Gulf emirate of Dubai, home of the Burj Khalifa, the worlds tallest building.

Yakov Livshits already had about a dozen active startups when AI researcher Eli Braginskiy, a friend with family ties, came to him with the idea for MetaDialog. The startup built the first LLM to support both Arabic and English, a 7-billion-parameter model trained on one of the worlds largest Arabic/English datasets.

We call it Baby, because were proud of it, and were building a larger, 40-billion parameter model now, said Braginskiy.

Our Baby LLM is currently integrated in one of the biggest governments in the region, and were talking with three other governments interested in using it, too, said Livshits.

With more than 3 million people in just 13 square miles, Dubai is a vibrant hub for the region.

The way governments in the Middle East think about AI and advanced tech in general is very bold they want to move fast, so were training custom models in different languages and will present them at the GITEX conference said Livshits, who lived in Russia, Israel and the U.S. before moving to Dubai.

In February, Saudi Arabia alone announced a $2.4 billion startup fund to help diversify the nations economy.

In Abu Dhabi, just a hundred miles down the coast, Hussein Al-Natsheh leads a team of engineers and data scientists at Beyond Limits training and fine tuning LLMs. One is already drafting documents for a large energy company and verifying they comply with its standards.

Beyond Limits also works on models for energy companies, utilities and other customers that will index and search corporate documents, draft marketing materials and more.

Companies need their own LLMs trained on their own data which is confidential, so we have machines reading their data, not us, said Al-Natsheh, a native of Amman, Jordan, who, prior to joining Beyond Limits, worked on Salma, one of the first Arabic speech assistants.

Now that data is the new oil, Beyond Limits is developing toolkits to extract it from unstructured files corporate emails, PowerPoint and other sources so it can help companies train custom LLMs approaching 70 billion parameters in size.

The toolkits can help address the lack of data samples from the many Arabic dialects. Indeed, a report from the UAE government on 100 top gen AI uses called for more work on Arabic, a language spoken by nearly half a billion people.

The good news is governments and large companies like G42, a regional cloud service company, are pouring resources into the problem. For example, Beyond Limits was able to create its regional headquarters in Dubai thanks to its last funding round, much of which came from G42.

All three companies are members of NVIDIA Inception, a free program that helps startups working on cutting-edge technologies like generative AI.

As part of Inception, Beyond Limits had access to libraries in NVIDIA NeMo, a framework for building massive gen AI models, and which cut training time in one case from five days to one.

NVIDIA software makes our work much easier, and our clients trust NVIDIA technology, said Al-Natsheh.

As part of Inception, Mazzuma got access to cloud GPU services to accelerate its experiments and introductions to potential investors.

That really gave us a boost, and theres a lot of assurance that comes from working with the best people and tools, said Genfi.

For its part, MetaDialog trained its Baby LLM on 440 NVIDIA A100 Tensor Core GPUs using a service operated by MosaicML, an Inception member recently acquired by Databricks.

Ive built many startups, and no company treats its partners as well as NVIDIA, said Livshits.

At top: From left to right, Nii Osae, Hussein Al-Natsheh, Eli Braginskiy, Yakov Livshits and Kofi Genfi.

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What is a Smart Port? – Port Technology International

A smart port is a modern and technologically advanced port that leverages innovative technologies and data-driven solutions to enhance its operational efficiency, safety, and sustainability.

The shipping industry has been notorious for its resistance to change and its conservative approach when met with emerging technologies foreign to the regular practices of shipping operations.

Although the maritime industry has existed for centuries, it lags significantly behind newer industries like aviation in terms of automation and technological advancements.

However, there is now a promising new suite of innovations and smart interfaces infused with the capabilities of data science. Meticulously crafted to enhance and optimise port operations, these cutting-edge solutions incorporates the following key elements:

The current potential of technology and data-driven solutions brings a shift in perceptions toward technological change in the shipping world. This shift is marked by increased receptivity and favourability towards technological implementations, paving the way for a brighter, more interconnected future for the entire sector in the years ahead.

Amidst the current market conditions characterised by soaring globalisation and international trade, with ships growing larger and goods moving at an unprecedented pace, alongside unpredictable challenges brought on by geopolitical issues worldwide, it is now incumbent upon the industry to embrace progressive technological developments more so than ever before.

With this in mind, lets take a look at the most prominent digital solutions that ports have been adopting worldwide.

Artificial Intelligence refers to computer systems that simulate human intelligence processes by employing various techniques including machine learning, natural language processing, robotics, and more. AI essentially aims to provide systems that can perform tasks and solve problems that would typically require human intelligence.

AI can automate repetitive tasks that would thus improve overall efficiency for whatever it is used for. Large amounts of data can also be processed and streamlined through AI algorithms to provide predictive analytics that can help determine future events like market trends. Another key benefit of AI is its ability to aid in decision-making by providing humans with insight and recommendations.

READ: How can ports use Artificial Intelligence?

These techniques can be implemented in the ports industry in a number of ways. Ports worldwide can optimise their entire shipping process, from order management to logistics and inventory management, through AI. For instance, AI can be employed to optimise fleet operations and management by providing more efficient shipping routes. It can do this by analysing GPS, weather, and traffic data. Moreover, AI can be used to develop autonomous ships that can navigate, dock, and make decisions on their own.

READ: Maritime Single Window: Embracing port call digitalisation

Implementing the Internet of Things enables ports to limit resources and human interference. IoT essentially refers to a network of interconnected devices, objects, and sensors that can collect and exchange data via the internet, thereby allowing these devices to communicate and share information with each other and make data-driven decisions without requiring human observation. This effectively eliminates the element of human error, thereby enabling ports to enhance operational efficiency, management, and particularly safety.

READ: Next-Generation Maritime Connectivity: Telecom26s Private Networks and Cellular IoT Solutions

These benefits are greatly applicable to the shipping industry. For instance, ships can be installed with IoT sensors for ship monitoring and risk management. Here, the sensors can monitor several operational aspects including engine performance, fuel consumption, temperature, and hull integrity. The data retrieved can then be transmitted ashore, enabling shipping companies to monitor the condition of their fleet and perform predictive maintenance remotely. This can limit periods of downtime and monetary costs, and promotes sustainable practices.

IoT can also facilitate port management in order to improve efficiency and limit congestion and turnaround times for vessels. This is achieved through tracking the movement of ships, containers, along with other assets around the port area through IoT. Additionally, this enhances port security and curtails the risk of theft of cargo.

A Digital Twin is a virtual representation of an object, system, or process that leverages real-time data and advanced analytics to emulate the behaviours and characteristics of the original physical entity. This virtual approximation allows operators to monitor, test, and analyse the original physical entity to then optimise its performance. This form of technology has the potential to bring great benefits to the shipping industry.

READ: The Promise (and Peril) of Digital Twins for Ports

For example, curating a DT of a vessel or ship equipment enables shipping companies to gather data on various performance markers, such as engine performance, fuel consumption, equipment health, and so on. Shipping companies can thereby analyse this data to forecast, for instance, maintenance needs and repairs resulting in more efficient operational scheduling. In addition, data pertaining to fuel consumption patterns can help increase fuel efficiency, which could drive down cost savings and emissions released. DTs can also be applied to various elements in the supply chain, including ports, warehouses, and logistics processes, to simulate different scenarios that can lead to optimised supply chain operations.

For example, earlier this year, Tianjin Port Group and Huawei announced plans to collaborate on building a digital twin of the Port of Tianjin in China. The plan, which is divided into three parts, includes the construction of new automated terminals, upgrading of traditional terminals, and comprehensive digital transformation.

Blockchain, a decentralised and distributed digital ledger technology, enables multiple parties across the supply chain to securely verify and record transactions. It is essentially a chain of blocks that are interconnected through cryptographic techniques. With regard to the shipping industry, blockchain can provide several benefits.

Blockchain provides transparent visibility into the movement of goods along the supply chain by providing real-time shipment tracking. In this way, manufacturers, suppliers, shippers, customers, and everyone with vested interests in cargo shipments can access and verify the data, limiting the occurrences of delays and disputes while minimising the potential for fraud. This security is further compounded by blockchains decentralised nature and cryptographic algorithms that add layers of protection from data tampering and unauthorised access, thereby safeguarding the integrity of the shipping process.

Blockchain can also provide smart contracts. Smart contracts are self-executing agreements with pre-set conditions; they can automate various processes in shipping, thereby minimising paperwork and human resources, for instance, the release of payment upon successful delivery of shipment. Through offering such a transparent overview of the supply chain, port operators are able to identify inefficiencies and bottlenecks, limiting factors of which can then be addressed to optimise and improve performance. This is also beneficial for the customer, who is better positioned to rely on smoother operations and secure shipments. It is worth noting, however, that the degree of benefits that can be derived from the implementation of blockchain is largely contingent upon the cooperation and standardisation across various stakeholders.

A prominent organisation at the forefront of blockchain implementation is the Global Shipping Business Network (GSBN).

Earlier in March 2023, GSBN announced a collaboration with COSCO Shipping Lines (COSCO), Orient Overseas Container Line (OOCL), and the Shanghai Research Institute of Chemical Industry Testing Co., Ltd (SICIT) in harnessing blockchain technology.

More recently, in May, GSBN developed the first proofs-of-concepts for trade finance products. The group aims to build a blockchain-enabled operating system to digitally enhance trade finance and ultimately improve the end-to-end operational efficiency as well as the transparency of data in the supply chain.

5G, the fifth generation of wireless communication technology, is the latest and most advanced network infrastructure that provides enhanced data speed through operating on higher-frequency radio waves, capacity and reliability while limiting latency. 5G has thus proven to greatly benefit the shipping industry.

For instance, through greater data speeds, shipping companies are able to swiftly retrieve the real-time data needed for time-sensitive issues, such as the tracking of shipments and logistics data. Additionally, 5Gs increased capacity furthers the effective application of IoTs as shipping companies can reliably deploy a vast network of sensors and connected devices throughout their supply chain.

READ: Associated British Ports Builds the Port of the Future with Private 5G Network

Thus, both 5G and IoT work hand-in-hand in their efforts to optimise supply chains as improved decision-making is made possible by increased insight and visibility into inventory levels, shipping conditions, and delivery status while reducing shipment delays. In other words, not only does 5G improve shipping operations in and of itself, but it also provides a complimentary platform for the other digital solutions mentioned in this article to operate under the most conducive conditions.

Greater capacity and data speed also improves communications between vehicles and centralised systems, enabling real-time monitoring of fleets and optimisation of routes.

Terminal operators at Santos Port Brasil Terminal Porturio (BTP) have put great focus on 5G in their upcoming plans. In late 2022, the terminal operator partnered with telecommunications providers TIM and Nokia to implement a private 5G network at the port. The partnership provides for the sectors first 5G private network on the Latin American continent, and will evolve into a definitive structure after the release of the 3.5GHz band for the city of Santos, scheduled by the regulator Anatel for 2023.

More recently this year, Hutchison Port Holdings (HPH) Trust announced the deployment of 5G technology at the container terminals under its Hong Kong operations. Working with 3HK, five 5G base stations have been set up within HPH Trust Hong Kong terminals enabling ultra-high-speed, low latency, and massive machine-type communications, HPH reported.

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What is a Smart Port? - Port Technology International

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