Welcome to this month’s spotlight on the latest in assetization and web3. From billion-dollar deals to government-led blockchain adoption, the world of decentralized innovation is accelerating. Here are the most significant updates that you need to know from AssetMantle!
🔓 WazirX Security Breach Shakes Indian Crypto Market [Link]
In a major incident, WazirX faced a security breach leading to over $230 million in unauthorized withdrawals. The exchange has announced plans to reverse all trades made between July 18 and July 21, 2024, restoring user portfolios. Despite the disruption, Bitcoin has shown recovery signs, currently holding steady around $56,000.
📡 TRAI Tackles Spam with Blockchain: A Regulatory Milestone [Link]
The Telecom Regulatory Authority of India (TRAI) is set to revolutionize telemarketing with its blockchain-based platform. By November 1, 2024, all telecom operators must shift to this system, ensuring that telemarketing messages are traceable, curbing spam and improving transparency across the sector.
🏢 India’s First Tokenized Real Estate Platform at GIFT City [Link]
In a move toward democratizing real estate investment, GIFT City will soon launch India’s first regulated platform for real estate tokenization. This will enable small investors to hold fractional shares of property using blockchain technology, transforming how real estate ownership works in the country.
🏥 IIT Kanpur and Blockchain for Impact: A $150,000 Healthcare Innovation Partnership
IIT Kanpur has teamed up with Blockchain for Impact in a $150,000 initiative focused on driving blockchain innovation in healthcare. By supporting healthcare startups, this collaboration aims to boost efficiency and transparency in healthcare delivery, using blockchain technology to create real-world impact.
🌐 AirChain: Securing Major Government Deals in India [Link]
AirChain has quickly gained a foothold in the decentralized finance (DeFi) space with major partnerships in Kolkata and Raipur. These government-backed collaborations aim to implement blockchain solutions for supply chain management and public infrastructure monitoring, covering assets worth over $250 million. With more than 1 million transactions on its testnet and partnerships with major platforms like Uniswap and Aave, AirChain is emerging as a key player in public sector blockchain adoption.
🔥 Mantra: Managing $500 Million in Assets in the UAE [Link]
Mantra continues to build its presence in the Web3 world by securing a massive $500 million asset management deal in the UAE. Focused on creating sustainable and scalable blockchain infrastructure, Mantrais now managing real estate and infrastructure assets through its tokenization platform. Their partnerships with Chainlink, Binance Smart Chain, and Polygon are driving adoption and innovation within decentralized applications (dApps) across the Middle East, as the region embraces blockchain solutions for large-scale asset management.
💸 ICF Foundation’s $40 Million Funding Program [Link]
The Interchain Foundation (ICF) has introduced a $40 million funding initiative designed to support innovation within the Cosmos ecosystem. This program will back projects that focus on enhancing blockchain scalability, security, and interoperability. The initiative is set to accelerate growth in decentralized technology development.
🌍 Global Blockchain Trends: Governments Embrace Decentralization
India’s Vishvasya-Blockchain Technology Stack: The Ministry of Electronics and Information Technology introduced the Vishvasya-Blockchain Technology Stack, aimed at improving transparency and efficiency in digital service delivery across various sectors
Dubai has launched its Blockchain Strategy 2024, focusing on integrating blockchain across all government services, particularly in legal documentation, smart contracts, and bureaucracy reduction.