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PR Newswire

WiMi Hologram Cloud Announced an Identity Management Model Based on Blockchain

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BEIJING, Aug. 23, 2024 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced that its R&D team delved into the application potential of blockchain in the field of identity management. The decentralized nature of blockchain as an open distributed ledger offers the possibility of constructing a secure, transparent, and tamper-proof trust management system. Using graph theory and blockchain frameworks, the team proposed an abstract identity verification model and successfully mitigated popular cyber-attacks by implanting trust-related information in an encrypted blockchain architecture.

WiMi’s blockchain technology-based identity management model provides a decentralized, tamper-proof distributed ledger through blockchain technology. In the identity management model, the blockchain network acts as a foundation of trust, ensuring that the identities and transaction records of all participants are transparent and trustworthy. Each user has a unique identifier on the blockchain, which is usually associated with the user’s public key. Using cryptography, such as asymmetric encryption, users can securely authenticate themselves and exchange data without having to reveal their private keys.

In addition, smart contracts are automatically executed programs that run on the blockchain and perform tasks according to predefined rules. In the identity management model, smart contracts are used to automate the authentication process, ensuring that only authenticated users can access specific resources or services.

In cloud computing, users may need to operate across different service providers (CSPs). WiMi’s blockchain technology-based identity management model enables trust transfer between different domains by designing a cross-domain authentication process that allows CSPs to participate in trust management as referrers while acting as service providers. Trust factors are the key indicators for assessing user trustworthiness. In the model, there are three main trust factors: user trustworthiness, authentication and satisfaction. User trustworthiness is calculated based on the user’s historical behaviour and transaction records. Authentication is realized through smart contracts and cryptography, and satisfaction is calculated based on the interaction history between the user and the service provider.

The model applies the graph theory in trust networks, which provides a mathematical tool for analyzing and representing nodes (users or service providers) and edges (trust relationships) in a network. By constructing a trust graph, it is possible to more intuitively understand and analyze trust relationships and how they affect the security and efficiency of the overall system.

To improve the security of the system, the model designs multiple mechanisms to mitigate common cyber attacks. For example, through the distributed nature of blockchain, it can withstand denial-of-service attacks. Through cryptography, it can prevent man-in-the-middle attacks, and through ensuring the immutability of data, it can prevent data tampering attacks. WiMi’s research team has conducted a comprehensive security analysis of the proposed model, proving its robustness in the face of common cyber-attacks, such as denial-of-service attacks (DoS), man-in-the-middle attacks ( MITM) and data tampering.

As technology develops and user needs change, the identity management model needs to be continuously optimized and updated. This includes updating the logic of smart contracts, improving trust calculation methods, enhancing the user experience of the user interface, etc. WiMi will continue to optimize the model to adapt to the ever-changing cloud computation and security requirements, bringing revolutionary improvements to data security and trust management in the enterprise.

This innovative achievement of WiMi not only marks an important step for the company in the application of blockchain technology but also provides new ideas and solutions for the security development of the entire cloud computing industry. With the continuous maturity and application of the technology, we have reason to believe that the decentralized trust management system based on blockchain will become an important part of enterprise security.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statements

This press release contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company’s strategic and operational plans contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the US Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases, and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services.

Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.

Source: WiMi Hologram Cloud Inc.

PR Newswire

Flash News: OKX Wallet Integrates with Side Protocol

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SINGAPORE, April 27, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, today announced the integration of Side Protocol with the OKX Wallet. Side Protocol is a cross-chain middleware protocol designed to enable seamless communication and asset transfer between heterogeneous blockchains. Side Protocol aims to create a unified and interoperable blockchain ecosystem, breaking down the barriers between different networks.

With Side Protocol, OKX Wallet users can now effortlessly transfer assets across multiple blockchains, reducing friction and enhancing the overall user experience. This integration marks a significant step forward in promoting cross-chain interoperability and unlocking the true potential of a multi-chain future.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit:okx.com

Disclaimer

PR Newswire

SETIGO: A New Way of SETI and Gamification of Public Science, AI Avatar Supported by Openverse

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VANCOUVER, BC, March 21, 2024 /PRNewswire/ — In a bold step forward for the exploration of extraterrestrial intelligence, SETIGO announces its initiative aimed at revolutionizing public science engagement and introducing a new era of accessibility and inclusivity in the quest for cosmic understanding, technically supported by Openverse on 3D real-time avatar technology.

The SETIGO focuses on next-generation gamification and social network to encourage public participation in the search for extraterrestrial civilizations, through user-level mobile applications (Augmented Reality / Virtual Reality / Mixed Reality) and AI-driven real-time gamified community operation.
The SETIGO focuses on next-generation gamification and social network to encourage public participation in the search for extraterrestrial civilizations, through user-level mobile applications (Augmented Reality / Virtual Reality / Mixed Reality) and AI-driven real-time gamified community operation.

The SETIGO project focuses on next-generation gamification and social network to encourage public participation in the search for extraterrestrial civilizations, through user-level mobile applications (Augmented Reality / Virtual Reality / Mixed Reality) and AI-driven real-time gamified community operation.

At the heart of SETIGO lies a visionary approach to public science, where individuals from diverse backgrounds are invited to join the exploration of the cosmos through immersive 3D digital platforms. Powered by next-generation gamification and social networking, SETIGO’s innovative model fosters active participation in the search for extraterrestrial civilizations, transcending barriers and inspiring a new generation of public scientists.

The SETIGO project has garnered support from a wide range of scientists and experts in the fields of astronomy and SETI, as well as from prominent telescope projects globally.

Central to SETIGO’s mission is its commitment to collaboration and innovation. Through a multi-platform mobile application, users are transported into immersive simulations of outer space environments, where they can explore celestial phenomena and engage in scholarly discourse with seasoned astronomers and enthusiasts alike.

The gamified community, inhabited by E.T. Avatars (ETA) and fueled by wearable NFTs, Drake Equation Artifacts (DEA), offers a dynamic space for collective exploration and discovery. “SETIGO is more than just a project; it’s a movement to make science popular and fun,” remarks the founder of Openverse, the early stage supporter of SETIGO initiatives.

For more information about SETIGO and its missions, visit setigo.org.

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About SETIGO

SETIGO is a pioneering initiative aimed at revolutionizing public engagement with scientific research, particularly in the field of extraterrestrial intelligence (SETI). By harnessing immersive gaming technologies, SETIGO invites individuals of all backgrounds to join the exploration of the cosmos through immersive digital platforms and collaborative networks.

About Openverse

Openverse, smart IP maker, a Singapore based technology company specializes in world-class IP development and commercialization, using patented AIGIS (AI-generated IP Service) technologies to empower creators. It provides comprehensive services, integrating diverse IP operations to connect communities, and span across specific domains including science, trends and entertainment.

PR Newswire

WiMi Is Researching Blockchain Optimized Data Storage Model Based on Extreme Learning Machine (ELM) Sharding

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BEIJING, March 8, 2024 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced that it is researching a blockchain optimized data storage model based on Extreme Learning Machine (ELM) sharding. ELM is a machine learning algorithm based on artificial neural networks. The core idea of ELM is to initialize the connection weights between the input layer to the hidden layer randomly. Then through parsing, the connection weights between the output layer to the hidden layer are quickly calculated, and a simple and efficient neural network model is constructed by randomly generating the input weights and the bias of the hidden layer neurons. Compared with traditional neural network algorithms, ELM is characterized by fast training speed and strong generalization ability. Whereas sharding is a method of splitting data into multiple segments in a blockchain system, each of which can be processed and stored independently, sharding improves the performance of the blockchain system.

The ELM-based sharding blockchain data storage model divides the blockchain network into multiple shards, each of which needs to store and process only part of the blockchain’s data. Specifically, each slice only needs to store and verify the blocks and transaction data associated with it, without storing a full copy of the entire blockchain. This can greatly reduce storage requirements, lower storage costs, and improve the efficiency and performance of data synchronization. In this model, each slice can use ELM as its local storage and computation unit. ELM is an efficient machine learning algorithm with fast training and prediction capabilities. Each slice can use ELM to store and process its own blockchain data without relying on other slices or full nodes. This increases the efficiency of data storage and processing and reduces the dependency on full nodes.

Specifically, it is first necessary to split the original blockchain data into multiple segments and store these segments on different nodes, thus realizing the distributed management of data storage as well as achieving parallel processing of data. Each node only needs to store the sharding data it is responsible for, which greatly reduces the storage pressure of nodes. Each shard can be managed by one or more ELM nodes. ELM nodes use ELM algorithms to train and process the data. ELM is a fast and efficient machine learning algorithm that can process and analyze large amounts of data in a short period of time. Each ELM node can independently process and store the data sharding it is responsible for. This sharding technology improves the parallel processing of data, thus increasing the performance of the entire blockchain system. At the same time, since each node only needs to manage a portion of the data, it can reduce the cost of data storage and processing.

In addition, the ELM-based sharding technology can also provide higher data privacy and security. Since the data is partitioned into multiple segments and managed by different ELM nodes, even if one node is attacked or the data is leaked, it will not have an impact on the data integrity of the whole system.

The ELM-based sharding blockchain data storage model researched by WiMi can solve the problems of storage capacity and transaction speed faced by the traditional blockchain data storage model, reduce the storage cost, improve the efficiency and performance of data synchronization, and provide a more efficient way of data management and access to further improve the performance and scalability of the blockchain system. This model is of great significance in the application of blockchain technology and data storage models.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statements

This press release contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,””expects,””anticipates,””future,””intends,””plans,””believes,””estimates,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company’s strategic and operational plans contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the US Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases, and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services.

Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.

Source: WiMi Hologram Cloud Inc.

PR Newswire

INX Customer Data and Funds are Secure After Recent Attack on Third-Party Service Provider

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Swift Response and Assurance: Customer Accounts and Security Uncompromised Despite Third-Party Service Provider Cybersecurity Incident

TORONTO, Dec. 30, 2023 /PRNewswire/ — The INX Digital Company, Inc. (NEO: INXD, OTCQB: INXDF, INXATS: INX) (the “Company” or “INX”), a security token and digital asset trading platform, U.S. broker-dealer, alternative trading system, transfer agent, and inter-dealer broker (through its subsidiaries), announced that on December 20, 2023, it learned of a cyberattack that occurred on the computer systems of a third-party vendor providing services to one of the Company’s subsidiaries. 

As a result, a malicious actor managed to access the third-party vendor’s servers and executed unauthorized trades which resulted in a loss of funds of the Company’s subsidiary of approximately $1.6 million. The Company took immediate actions to remediate the security vulnerability and to investigate the nature and scope of the incident. The Company also notified relevant law enforcement in the appropriate jurisdictions and is working with the affected trading venue to investigate this incident and take appropriate legal action.  

INX customers were not affected by the incident, and the security breach at the third-party provider did not have any impact on the platforms and servers of INX. No personal information or other data of INX’s customers was compromised, and INX.One remains fully operational. The Company placed additional security measures in place and continues to actively monitor any suspicious activity. 

The Company holds a “Reserve Fund” (which is not part of the Company’s operational capital) in the amount of $36,023,000, which is restricted and specifically designed to cover customer and INX losses, if any, that result from cybersecurity breaches or theft, errors in execution of the trading platform or its technology, and counterparty defaults, including instances where counterparties lack sufficient collateral to cover losses. The Company will seek to recover the lost funds through any means necessary. If unsuccessful, and after these efforts are exhausted, the Company will utilize the Reserve Fund for the recovery of the loss that resulted from this security incident. There is no assurance that any such lost funds will be recovered.

The Company does not expect this incident to have a material impact on its business operations or its financial results.

About INX:
INX provides regulated trading platforms for digital securities and cryptocurrencies. With the combination of traditional market expertise and a disruptive fintech approach, INX provides state-of-the-art solutions to modern financial problems. INX is led by an experienced and dedicated team of business, finance, and technology veterans with the shared vision of redefining the world of capital markets via blockchain technology and a disciplined regulatory approach.

About The INX Digital Company, Inc.:
The INX Digital Company, Inc. is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. The INX Group’s overall mission is to bring communities together and empower them with financial innovation. Our journey started with our initial public token offering of the INX Token, in which we raised US$84 million. The INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA. For more information, please visit the INX Group website at https://www.inx.co/.

Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute “forward-looking information (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, INX has made certain assumptions, including with respect to, the continuous development of the INX trading platform, the completion of the transactions described herein, and the development of the digital asset industry. Although INX believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to regulatory developments, the state of the digital securities and cryptocurrencies markets, and general economic conditions. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Neo Exchange is not responsible for the adequacy or accuracy of this press release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, contact:
The INX Digital Company, Inc.
Investor Relations
+1 855 657 2314
Contact: Alan Silbert
Email: investorrelations@inx.co

Source: The INX Digital Company, Inc.

PR Newswire

Algorand Foundation Announces Strategic Investment in Digital Payment Platform, HesabPay

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HesabPay showcased at the Algorand Impact Summit in New Delhi

NEW DELHI, Dec. 1, 2023 /PRNewswire/ — Algorand Foundation announces a strategic investment by Algorand Ventures in HesabPay on stage today at the Algorand Impact Summit in New Delhi, where business leaders, policymakers, NGOs, and developers convened to discuss how blockchain can be part of the solution to the world’s most intractable challenges.

Courtesy of HesabPay
Courtesy of HesabPay

HesabPay is the first and only interoperable digital payments platform in Afghanistan, utilizing the speed and reliability of the Algorand blockchain. Initially built as a solution to the humanitarian aid crisis, more than a dozen organizations, including the World Food Programme, have used the platform to send funds directly to beneficiaries in Afghanistan. HesabPay has since expanded its use cases and now allows users to buy airtime, pay electric bills, and send digital funds to other users.  HesabPay has facilitated 51,000 humanitarian cash transfers and has been used to pay over 1.3 million electricity bills.

HesabPay is a critical tool for Afghanistan, where 85% of the adult population is unbanked, according to the World Bank.  A recent study by the London School of Economics (LSE) trailed nearly 2,500 Afghan women receiving aid via HesabPay and found that “digital payments can be an effective and transparent way of helping those most in need.” The study found that over 98% of the money transferred digitally was spent as local purchases in the first eight weeks, with the women surveyed reported skipping fewer meals and eating a more nutritionally diverse diet both while receiving the payments and for several weeks afterward.

“In the case of HesabPay, it was apparent to us from the beginning that the solution they are offering was critical for some of the world’s most marginalized populations,” says Matt Keller, head of impact and inclusion at Algorand Foundation. “It is only fitting that we announced this investment at the Algorand Impact Summit, demonstrating how blockchain can serve as an efficient, reliable, and transparent solution for the global unbanked.”

Also at the Impact Summit, Algorand announced partnerships with Mann Deshi, Self-Employed Women’s Association (SEWA), and the United Nations Development Programme (UNDP).

For more information, please visit https://algorand.foundation.

About Algorand Foundation

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem. Designed by MIT professor and Turing Award winning cryptographer Silvio Micali, Algorand is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis. 

PR Newswire

ZETRIX LAUNCHES CROSS-BORDER SUPPLY CHAIN FINANCING PILOT WITH BANK OF CHINA AND DIXCHAIN

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PETALING JAYA, Malaysia, Nov. 4, 2023 /PRNewswire/ — Zetrix, a leading public blockchain platform that is powering digitisation of cross border trade, today announced the commencement of a pilot project to offer supply chain financing products in conjunction with Chinese banks for international importers and exporters.

Starting with the Bank of China as the first financial institution to be onboarded under the project, the end-to-end solution offers a soft landing for trading firms with fully digital onboarding, including registration of a Chinese legal entity, bank account opening and credit assessments. Approved clients will enjoy low-cost financing and quicker release of drawdowns as the service leverages on-chain events recorded and verified on Zetrix.

China has undergone rapid digital transformation in recent years, with most services, including financial services, now being delivered online and capitalising on the advantages of blockchain technology. China is a world leader in blockchain adoption, and the government is actively supporting the development of the blockchain industry.

Zetrix is a public blockchain network that also hosts the international supernode of China’s national blockchain, Xinghuo Blockchain Infrastructure and Facilities (“Xinghuo BIF”). It is focused on enabling global trade through its connection to Xinghuo BIF. Zetrix provides users with access to a secure and reliable blockchain platform that is endorsed by the Chinese government.

Zetrix’s commitment to localisation is further cemented by its partnership with Dixchain, Dixchain is a national level high-tech enterprise in China that integrates financial technology and financial services, focusing on providing comprehensive digital solutions for global cross-border trade and finance.

“This is a game changer on several fronts.  By tracking and verifying the transactions onchain, banks will be able to reduce their risks and enhance their ESG ratings, hence, in turn, reducing the overall cost of financing for end-users.  Trading companies can also leverage on the interest rate differentials their respective countries, as well as widen their financing options,”explained TS Wong, founder of Zetrix.

The pilot will provide more efficient and convenient cross-border financial services for trading enterprises, introduce lower cost overseas RMB funds, help enterprises to  obtain lower cost financing, and increase cross-border trade transaction volume.

About Zetrix 

Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. 

Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).

About DixChain

Dixchain is a national high-tech enterprise in China that integrated financial technology and financial services, focusing on providing comprehensive digital solutions for the global cross-border trade and financial field, with a number of independent R&D platform-level fintech products including the integrated service platform of domestic and cross-border supply chain business, the cross-border financial assets exchange platform, etc,  The core team background comes from Forture Global 500 senior management. The company has the R&D and delivery capabilities of AI, big data, blockchain, biometric identification, identity authentication and other related technology products. At the same time, with the strong experience on international leading cross-border financial service operation and the outstanding capability of internationalization resource integration, the company provides the highly efficient, safety, convenient, and economic cross-border trade data verification, logistics traceability, trade financing, cross-border payment, asset transaction, fund settlement and other services to the global trade enterprises and financial institutions.

About Bank of China

As China’s most globalised and integrated bank, Bank of China (BOC) has institutions across the Chinese mainland as well as 62 countries and regions, and BOCHK and the Macau Branch serve as local note-issuing banks in their respective markets. The BOC has a well-established global service network and an integrated service platform based on the pillars of its corporate banking, personal banking, financial markets and other commercial banking business, which covers investment banking, direct investment, securities, insurance, funds, aircraft leasing, asset management, financial technology, financing leasing and other areas, thus providing its customers with financial solutions featuring global expertise and all-round services accessible at any point of contact.

PR Newswire

Huawei Cloud in Token2049: Fueling Web3 Advances with Key Breakthroughs

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SINGAPORE, Sept. 13, 2023 /PRNewswire/ — From September 11 to 12, Huawei Cloud showcased staking node engine, confidential computing, and ZK rollup at Token2049 in Singapore. In this event, Huawei Cloud discussed the future of the Web3 industry with top vendors, builders, and developers, and stated its commitment to accelerating Web3 innovation with technical breakthroughs.

Node Creation in Seconds, 99% Staking Effectiveness: A New Engine for Web3

Web3 is in the early stage of development and faces many technical challenges regarding performance and security of transactions on chains. On September 12, in the MetaEra Summit, Zhang Ziyi, Chief Architect of Huawei Cloud Blockchain, introduced Huawei Cloud’s Ethereum staking node hosting service. With innovative algorithms, this service achieves up to 99% staking effectiveness and higher rewards. QingTian Enclave security framework supports environment and identity authentication and full-link data encryption and decryption. With this security framework, applications and data can run secured on Huawei Cloud Elastic Cloud Servers (ECSs). In addition, Huawei Cloud accelerates ZK rollup hardware innovation. With Huawei-developed XPU, architecture innovation, and algorithm optimization, the average confirmation time of ZK rollup transactions plummeted from hours to minutes.

Zhang Ziyi, Chief Architect of Huawei Cloud Blockchain
Zhang Ziyi, Chief Architect of Huawei Cloud Blockchain

Huawei Cloud QingTian Enclave Safeguards Transactions

Security has been significant to Web3. Currently, Web3 wallet applications still face severe security challenges when it comes to the storage and attack defense of wallet private keys. Blockchain Security Alliance Meetup, initiated by the Blockchain Security Alliance, is one of the major activities of Token2049 and has become the focus of the global blockchain security and Web3 ecosystem. Jia Xiaoqiang, Director of Huawei Cloud Virtualization Products, introduced Huawei Cloud’s confidential computing solution and Web3 solution aiming to secure systems, applications, and sensitive data in wallet scenarios.

Jia Xiaoqiang said, “Huawei Cloud QingTian Enclave confidential computing solution is just like a safe for wallet private keys. It supports environment and identity authentication and full-link data encryption and decryption. Applications and data can be run with protection on Huawei Cloud Elastic Cloud Servers (ECSs). Unauthorized users and third parties are isolated to maintain transaction security of private keys and wallets.” Huawei Cloud is committed to building a highly secure and available solution for Web3, and all the efforts turned into QingTian Enclave, an end-to-end solution securing the execution environment for applications and sensitive data through software and hardware.

IPFS Cloud Data Ecosystem with Tenfold Rewards

Decentralized storage is another key infrastructure of Web3. However, the industry shares the same headaches in migrating data to the cloud, reducing costs, and improving effectiveness. At the Fil Dev Summit on September 12, Bai Tao, Chief Cloud Storage Solution Architect of Huawei Cloud, shared InterPlanetary File System (IPFS) data service and elastic cloud deployment solution jointly developed by Huawei Cloud and partners. Huawei Cloud’s cloud data entry simplifies the process of storing data on IPFS, resulting in a 10-fold increase in data rewards and reduced data storage overhead for enterprises. Additionally, Huawei Cloud’s large-ratio EC technologies enable 91% effective capacity usage of disks and scalable storage for data up to 10 EB-level. With the elastic cloud deployment solution, users can choose offline encapsulation, cloud verification, or end-to-end cloud deployment. Huawei Cloud, with over 18 years of experience in enterprise-level storage, aims to deliver cloud storage services that are not only cost-effective but also highly efficient.

Providing “Everything as a Service”, Huawei Cloud aims to offer robust infrastructure that enables advanced, distributed computing power for Web3. This commitment extends to building an open, efficient, and secure blockchain platform that can foster innovation in the Web3 ecosystem.

PR Newswire

First Blockchain-Powered Luxury Watch Embedded Insurance

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HONG KONG, July 15, 2023 /PRNewswire/ — YAS (www.yas.io/timecare) is proud to announce the ground breaking launch of TimeCare, a revolutionary luxury watch insurance program powered by blockchain technology. TimeCare sets an unprecedented standard in the insurance industry, combining cutting-edge technology and protection to cater to the unique needs of luxury watch enthusiasts worldwide. This innovative solution offers enhanced security, transparency, and a seamless embedded insurance experience to cherished timepieces.

Blockchain Powered Luxury Asset Embedded Insurance Program by YAS.io
Blockchain Powered Luxury Asset Embedded Insurance Program by YAS.io

Distinguished by its features, TimeCare seamlessly embeds insurance coverage into the watch purchase process, providing a simplified application experience. Leveraging state-of-the-art blockchain technology, TimeCare elevates security, transparency, and efficiency in claims processing, establishing an indisputable record of ownership and authenticity. Unlike conventional home insurance policies with limited coverage and inconvenient way of value appraisal for individual luxury items, TimeCare at time of launch will cover up to US$12.8M total sum insured underwritten by one of YAS’ global underwriting partners.  YAS will also be working with luxury brands around the world, starting with an Asia renowned luxury watch retailer from Hong Kong.

Luxury watches aren’t merely accessories; they are often investments, memories and family heirlooms.  Watch owners deserves more prudent protection without the hassle and intimidation from conventional insurance process. TimeCare securely and permanently records policy details, coverage information, and watch records, including guarantee card details for watch buyers.

TimeCare was designed with utmost dedication and care for watch enthusiasts. This reflects YAS’ commitment to insurance innovation and customer satisfaction, redefining insurance offerings in the global luxury goods market.

William Lee, Co-founder of YAS, “TimeCare is more than just insurance; it represents a commitment to trust, transparency, and efficiency as we build the future of insurance for the new generation. We believe TimeCare will be a singularity moment in time where we start to redefine how insurance work. Combining the immutable nature of blockchain with the perpetual essence of a time piece is a perfect match. We are not waiting for tomorrow; we go beyond hypes, and we are doing it today.”

Looking ahead, TimeCare aims to expand its reach and impact the global luxury asset market. The successful launch in Hong Kong lays the foundation for further expansion into other regions and luxury products, whilst inspiring more industries to adopt similar programs and  innovation.

About YAS

Established in June 2019, YAS is an Asia based award winning Insurtech venture with a vision to offer new hyper-personalized and autonomous insurance protection thru the world of connected data. Leveraging, blockchain, machine learning AI models and GPS telematics technology,  it aims to introduce disruptive new business models, underwriting approaches and provide insurance inclusion for every moment that matters for people around the world. www.yas.io

PR Newswire

WiMi Hologram Cloud Proposes A New Lightweight Decentralized Application Technical Solution Based on IPFS

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BEIJING, July 12, 2023 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced a blockchain distributed storage framework that presents a pooling algorithm and inverse process for IPFS-based DAPP schemes. The combination of DAPP with IPFS allows for a lightweight layout. By putting the static resources, data storage layer, distributed database, communication layer, and other parts of DAPP into the IPFS network, the data storage pressure on the chain can be effectively reduced, and the performance and availability of DAPP can be improved. In the implementation process, the IPFS network can be operated through the IPFS API to realize the interaction and communication between DAPP and IPFS.

The IPFS-based DAPP solution proposes a solution for data storage on the blockchain. It can store files and put unique and permanently available IPFS addresses into blockchain transactions. In this way, there is no need to put the space-hogging data on the blockchain. On the other hand, IPFS can also assist various blockchain networks in transferring information and files, thus increasing the scalability of the blockchain. Based on these advantages of IPFS, WiMi designed the main elements of the distributed pool, including the distributed storage phase and the invocation evidence phase.

The evidence phase is called to recover the original image by reversing the distributed pooling operation. After completing the distributed storage phase, it becomes easier to query the corresponding data hash address from the database. The distributed nature of IPFS makes the hash of the address uniquely trusted. Therefore, in the case of trusted nodes, the original data can be recovered using the inverse distributed pooling operation after confirming the correction of node addresses.

WiMi’s DAPP solution effectively solves the problem of insufficient storage space and reduces the cost of storage on the blockchain with the help of IPFS. By accessing the IPFS network, the data on the blockchain will become smaller, and therefore the storage space required by individual nodes will be reduced. Secondly, it greatly improves fault tolerance and can identify data stored in any node. In addition, the scheme can be recovered entirely losslessly, with no data lost from each node. Even if some information is lost, it can be retrieved proportionately to the information retained, which is helpful for excellent application capabilities.

With the rapid development of blockchain technology in these years, DAPP is also developing rapidly and will be the leading force in the application market. WiMi’s solution has significant market advantages and opportunities:

1. Reduced data storage cost: IPFS can be used as the distributed storage layer of DAPP, and the data will be stored in the IPFS network in a decentralized manner, which can reduce data storage costs and improve the availability and stability of DAPP.

2. Improved data access speed: Static resources in DAPP can be stored in the IPFS network, and you can locate these resources through IPFS Hash. This can improve the data access speed and reduce the data storage pressure of DAPP on the chain.

3. Improved data privacy: IPFS uses distributed storage, which allows data to be stored on multiple nodes, enhancing data privacy and reducing the risk of data leakage.

4. Better development experience: Using IPFS allows developers to focus more on developing business logic during the development of DAPP without paying too much attention to the implementation and maintenance of infrastructure, thus improving development efficiency and development experience.

With the popularity of decentralized applications and the development of blockchain technology, WiMi’s technical solution can bring a better experience and services to various participants in the blockchain ecosystem (such as users, developers, enterprises, etc.). At the same time, it also provides a better technical basis for developing new types of decentralized applications. WiMi’s lightweight advantage can bring many benefits and market opportunities, including reducing data storage costs, increasing data access speed, improving data privacy, providing a better development experience, and opening up new market opportunities.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statements

This press release contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company’s strategic and operational plans contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the US Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases, and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services.

Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.

Source: WiMi Hologram Cloud Inc.