All posts tagged: web3

Up Network, DreamSmart Launch Web3 Smart Glasses with Google Gemini

Up Network, DreamSmart Launch Web3 Smart Glasses with Google Gemini

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Up Network and DreamSmart have collaborated to unveil what the companies call the world’s first Web3- focused smart glasses with artificial intelligence (AI). Equipped with Google’s Gemini AI, the smart glasses offer real-time contextual artificial intelligence. Up Network has developed an AI agent operating system to improve human-machine interactions, while DreamSmart’s technology specialises in advanced tech solutions for EVs, smartphones, and wearables. The device has been announced at a time when Web3 and AI technologies experienced significant growth. The companies have yet to announce a name (or price) for these smart glasses, and which could be rolled out by Q1 2025, as per a press release. The glasses will let users access an AI assistant to handle crypto-related tasks, according to the firms. AI is expected to help newcomers to the crypto space interact with blockchain-related services using natural language commands. Users of the glasses will earn tokenised incentives for engaging in decentralised activities, according to the companies. The glasses let users own their data as an asset and enable them to have complete autonomous …

China Plans to Develop Blockchain-Focused National Data Infrastructure By 2029

China Plans to Develop Blockchain-Focused National Data Infrastructure By 2029

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China’s government on Monday released guidelines for the development of a national data infrastructure, as part of efforts to improve its data exchange and management network. A document published by the National Development and Reform Commission and two other authorities states that China must explore blockchain technology to make its data exchange and management ecosystems more secured through smart contracts. Also called the distributed ledger technology (DLT), the blockchain is the underlaying technology used by cryptocurrencies, NFTs, and the metaverse. According to the document titled National Data Infrastructure Construction Guidelines”, a blockchain-based implementation can safeguard stored data against tampering. The authorities behind the project believe that the national data infrastructure must be kept up-to-date to support the circulation and storage of information that is important in terms of national security. In recent years, blockchain networks have emerged as a potential replacement for traditional Web2 servers. A blockchain does not concentrate large amounts of data at one point, unlike traditional servers. Instead, information saved on blockchain networks is segregated into multiple smaller units of data, and …

How Blockchain Fragmentation Can Limit the Compatibility and Scalability of Decentralised Technology

How Blockchain Fragmentation Can Limit the Compatibility and Scalability of Decentralised Technology

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As blockchains receive continuous fine-tuning and improvements, developers are identifying crucial issues that are restricting the advances in interoperability and scalability of the technology. One such issue is called ‘blockchain fragmentation’. As the term suggests, it refers to a situation where the ecosystem of a blockchain is divided into multiple smaller on-chain networks, each facilitating a different task efficiently. The phenomenon of fragmentation is known to complicate blockchain adoption. It often leads developers to choose between multiple blockchain solutions that do not functionally align with each other. Gadgets 360 spoke to Rohas Nagpal, chief blockchain architect at Hybrid Finance Blockchain (HYFI), a layer-1 blockchain, to understand the process of blockchain fragmentation and how it impacts the ecosystem. “Blockchain fragmentation happens when different blockchains cannot interact smoothly. Each chain works like an island, with its own rules, tokens, and systems. This lack of connection limits the potential of blockchain technology,” Nagpal said. When a blockchain fragments, it essentially obstructs the network from supporting a unified system for value exchange to its full potential. The continuously increasing …

Tether Backs Arcanum Capital’s Web3 Fund With Million Investment 

Tether Backs Arcanum Capital’s Web3 Fund With $2 Million Investment 

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Tether, the blockchain firm which issues the USDT stablecoin, has forayed into a new branch of Web3 before 2024 ends. The company has poured in $2 million (roughly Rs. 17 crore) into Arcanum Capital’s Emerging Technologies Fund II. Arcanum is a Web3-focussed asset management company that provides funding to emerging projects related to blockchain, cryptocurrency, and other Web3 sectors. As per a report by CoinTelegraph, this is Tether’s first step into the arena of Web3 investments since it launched in 2014. Through the investment, Tether is looking to contribute to projects that are working on Holepunch technology, a release announcing the development said. The technology, created by a company called the Holepunch platform, eliminates the need for any servers for the operations of certain apps. Interestingly, both Tether and Holepunch have the same parent company – iFinex. “One example of this is Keet, a messaging app that allows users to call, text, or video-call directly without relying on a central server. Unlike other common messaging apps, Keet remains operational without a single point of failure, …

Security Firm GoPlus Launches Web3-Focussed Extension on Chrome, Edge Browsers

Security Firm GoPlus Launches Web3-Focussed Extension on Chrome, Edge Browsers

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Web3 security firm GoPlus has introduced a dedicated browser extension to enhance safety for the Web3 community. Based in the British Virgin Islands, the company has launched the GoPlus Security Extension, compatible with browsers like Google Chrome and Microsoft Edge. This move follows a surge in security breaches within the $3.34 trillion global crypto sector. The extension seems to have undergone browser testing for some time. According to its Google Chrome Web Store listing, the extension has already garnered 3,000 users and a five-star rating. “GoPlus is transforming Web3 security with its transparent user security network, which provides open-access security data. It offers modular user security as a service to any blockchain,” the description on the Chrome Web Store states. The browser extension includes features such as risk scanning for digital wallets, warning alerts, a security to do list, and customisable security policies, a launch note from GoPlus said. GoPlus has integrated Artificial Intelligence (AI) into its Web3 security browser extension, featuring an AI bot and providing 24/7 support for users. “This product is not …

Find Balance Between Convenience, Security: Binance CTO Rohit Wad to Web3 App Makers

Find Balance Between Convenience, Security: Binance CTO Rohit Wad to Web3 App Makers

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Rohit Wad, a computer science engineer from India’s second tier city of Bhilai presently leads the technology initiatives at Binance, touted as the largest crypto exchange in the world. In conversation with Gadgets360 last week, Wad emphasised that for Web3 adoption to grow, developers must strike the right balance between convenience and security to ease user hesitations about exploring the space. Previously a Corporate VP at Microsoft, Wad took on the role of Binance’s CTO in April 2022. Wad was present at Binance Blockchain Week, that was recently held in Dubai to unite the crypto community. As the Chief Technical Officer (CTO) of Binance, the IIT Bombay alumnus is tasked with spearheading the development of scalable Web3 service offerings to serve the exchange’s global user base, which exceeds 237 million registered users. Speaking to Gadgets360, Wad shared that his vision for Binance focuses on combining the user-friendly features of familiar apps and interfaces with enhanced security measures. This approach aims to support users as they navigate the complexities of volatile cryptocurrencies in upcoming services. “Many …

What is Blockchain Gamification and How it Impacts Branding: Explained

What is Blockchain Gamification and How it Impacts Branding: Explained

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The Web3 sector is teeming with thousands of products and services striving to engage a new generation of tech-savvy consumers, and blockchain gamification is one effective approach. This process involves incorporating interactive gaming elements to make non-gaming activities more engaging and immersive for users. The blockchain component enhances this concept by integrating Web3 elements, such as digital avatars and non-fungible tokens (NFTs), into metaverse-based gaming ecosystems. When a Web3 brand – that already has a blockchain network serving as its underlaying tech — decides to deploy blockchain gamification techniques, it introduces a special array of features. These include brand-centric games and rewards from subsequent gaming competitions. What Blockchain Gamification Entails NFT brand Axie Infinity and mobile-friendly Web3 browser Fulldive are among brands that have incorporated blockchain gamification in their operations. Both platforms introduced versions of utility NFTs, VR games, and crypto points to have users spend more time on their platforms. Through this process, brands can associate a storytelling narrative to their platforms and services. This can further help brands act as a hotspot for …

Crypto-Friendly Dubai Issues Cease-and-Desist Orders Against Seven Entities, Here’s Why

Crypto-Friendly Dubai Issues Cease-and-Desist Orders Against Seven Entities, Here’s Why

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The Emirate of Dubai, which in recent times has taken multiple measures to establish and promote itself as a hotspot of Web3 activities, is now identifying illegal crypto entities operating within its region. In the latest development, the Web3 governing body of Dubai has initiated an action against seven companies dealing with virtual assets. The Virtual Assets Regulatory Authority (VARA) was formed in 2022 to ensure that all companies are linked to virtual digital assets (VDAs). VARA released a statement on the situation this week, claiming that this move is aimed at strengthening its enforcement programme against law evaders. The authority, however, has not disclosed the names of the entities in question. The reason why these entities have been sent cease-and-desist orders, as per VARA, is for operating their businesses without acquiring the required approvals. “VARA will not tolerate any attempts to operate without appropriate licences, nor will we allow unauthorised marketing of virtual asset activities. Our priority is to ensure that Dubai’s virtual assets ecosystem remains secure for consumers and investors while being a …

How World Mobile Plans to Globalise Web3 Wireless Networks

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The potential use cases of blockchain technology appear to be gaining pace in the telecom sector. London-based World Mobile Group is a firm that aims to globalise decentralised Web3 networks. Founded in 2018, the company says its mission is to deliver high-quality web connectivity through a decentralised hybrid network that is 12 times more cost efficient per square kilometre of coverage. The World Mobile network states that it currently offers services in Zanzibar, Pakistan, UK, and the US. How World Mobile’s Network Works The network, rather than being powered by traditional telecom servers, runs on a blockchain network. At the time of its launch, a layer-2 blockchain was created atop the Ethereum mainnet. This blockchain is named the World Mobile Chain (WMC) and its native currency is the World Mobile Token, represented at WMTx. “World Mobile’s blockchain-based sharing economy underpins its unique connectivity solution, where decentralised network infrastructure is owned and operated by the people. Whether you’re providing mobile connectivity as an AirNode Operator, processing transactions operating an EarthNode, staking WMTx, or mapping network coverage …

Bharat Web3 Association Signs Pro-Web3 MoUs with Australia, Indonesia: All Details

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The Bharat Web3 Association (BWA), India’s leading non-governmental advisory group for Web3, is expanding its international presence. On Wednesday, September 25, the BWA signed Memoranda of Understanding (MoUs) with Australia and Indonesia. This initiative aims to unite global Web3 efforts and collaboratively enhance the ecosystem’s growth. BWA Chairperson Dilip Chenoy noted that these MoUs represent a significant milestone in fostering a cohesive global Web3 landscape. In an official statement, the BWA emphasised that the regulatory frameworks and policies established by international bodies to foster the safe and regulated growth of the Web3 sector could also benefit India’s blockchain industry. Through these Memorandums of Understanding (MoUs), India, Australia, and Indonesia will collaborate on key Web3 areas such as research, education, and advocacy. The broader goal is to accelerate the adoption of blockchain-based solutions across multiple countries. In Australia, the BWA signed an MoU with the Digital Economy Council of Australia (DECA), formerly known as Blockchain Australia, which represents businesses and individuals exploring blockchain technology. Commenting on this MoU with the BWA, the spokesperson of the DECA …