Galaxia Moneytree partners with Charzin to integrate security tokens into EV charging systems

Indonesia to Launch Blockchain Trials to Enhance Public ServicesIn the wake of its recent government-backed cryptocurrency exchange launch, Indonesia is moving further forward to launch trials that employ blockchain technology within its public services sector.Photo by Bisma Mahendra on UnsplashBlockchain-based land ownership recordsAt the recent Blockchain Economy Summit held in Dubai, Tuhu Nugraha, the Principal of the Indonesia Applied Digital Economy and Regulatory Network (IADERN), told Cointelegraph that these trials will encompass the utilization of blockchain-based digital certificates for land ownership and certificates of competence within the education sector.The executive believes that blockchain’s inherent attributes, which include characteristics such as immutability and transparency, can be harnessed to combat certificate fraud. By anchoring these certificates in blockchain’s secure ledger, the government can efficiently verify the authenticity of various digital certificates, which is a significant leap forward in ensuring the integrity of critical documents.Nugraha is an advisor to the Indonesian government on blockchain and metaverse technologies. He emphasized the government’s collaborative approach to Web3 technology. Additionally, Nugraha revealed that the Indonesian government is working in close partnership with various blockchain-focused associations to conduct experiments and gather insights into the multifaceted implications of blockchain across diverse sectors. Instead of imposing rigid regulations, Nugraha maintains that the Indonesian government is committed to crafting regulations that spur innovation.Cointelegraph also spoke with Grace Sabandar, Co-Founder of the Indonesia Blockchain and Metaverse Center (IBMC). Sabandar, an advocate of blockchain’s potential, emphasized the pivotal role of Indonesia’s youthful demographic on the basis that this dynamic demographic is inherently adaptable to new technology.Youthful demographic to capitalize on Web3Sabandar made the point that this younger Indonesian demographic has already demonstrated itself to be one of the world’s largest user bases for Web2 social media platforms such as Facebook and Instagram. On that basis, she believes Indonesia is poised to lead in the adoption of Web3 technology. She remarked:“We want to be the leader, not only the user of technology, because now, because of decentralization, anybody can do something, anybody can create something.”Furthermore, Sabandar highlighted the crucial educational role played by the IBMC in collaboration with the government, private sector stakeholders, media, and academia. Their mission revolves around enlightening the nation about the manifold benefits of blockchain, emphasizing transparency, the utility of smart contracts in business operations, the essence of decentralization, and other fundamental aspects.Realizing blockchain and Web3 potentialEarlier this week, a report published by South Korean crypto data platform Xangle in conjunction with Web3 consulting firm Tiger Research concluded that Indonesia has significant potential to grow its Web3 sector.Reports in recent days have also demonstrated further instances of the use of blockchain technology in the country, with state-owned ID Food collaborating with Singapore’s D3 Labs to establish a blockchain-based fish trading process. In July, South Korean tech company Milk Partners launched its blockchain-based reward points service in Indonesia.Indonesia’s blockchain development and adoption are being spurred on by the enthusiasm of its tech-savvy youth, collaborative partnerships, and a government dedicated to innovation and transparency. As it paves the way in the Web3 era, Indonesia seeks to leverage blockchain technology to benefit public services, foster trust, and lead by example in the global digital revolution.

Singaporean regulator, the Monetary Authority of Singapore (MAS), has awarded cryptocurrency exchange Bitstamp a Major Payment Institution (MPI) trading license.Photo by Julien de Salaberry on UnsplashExpanding into APACIn a blog post published on July 3, Bitstamp proclaimed that it is “globally trusted & now licensed in Singapore.” The company described the acquisition of the license as a milestone that “marks the start of [its] expansion into the APAC region.” It emerged in June 2024 that Bitstamp had been acquired by American trading platform Robinhood. The $200 million acquisition was finally completed last month. Bitstamp signaled last September that it planned to expand its institutional business across Australia and Asia. Earlier this year, parent company Robinhood outlined that it would use Bitstamp to crypto offerings in Singapore in 2025.Acquiring licensesAt that time, Johann Kerbrat, vice-president and general manager of Robinhood Crypto, said that “part of the reason why Bitstamp was attractive was because of their licenses with Singapore, in addition to its institutional business.” This latest license award strengthens the company’s efforts in gaining more traction in Asia. Licensing is all the more relevant given the recent actions of the Singaporean regulator. Last month, MAS set a June 30 deadline for unlicensed crypto firms operating out of the city-state and serving overseas customers to cease offering such services. Over recent years, Singapore has been striving towards establishing itself as a global hub for crypto startups. It has been successful in that endeavor insofar as a whole host of international crypto businesses have established a presence there.  However, its recent move to curb unlicensed firms working out of Singapore in providing services internationally has been interpreted as a much more cautious approach being taken by the Singaporean authorities. The regulator clarified its concerns recently:”MAS has set the bar high for licensing and will generally not issue a licence. The money laundering risks are higher in such business models and if their substantive regulated activity is outside of Singapore, MAS is unable to effectively supervise such persons. Without a licence, such DTSPs [Digital Token Service Providers] will have to cease their regulated activities.”Caution in Singapore to benefit Hong KongSingapore has been competing with cities like Hong Kong to develop and maintain that crypto hub status. Some commentators have expressed the view that Hong Kong will benefit from this latest move in Singapore.  Joshua Chu, a lawyer who co-chairs the Hong Kong Web3 Association, told the South China Morning Post (SCMP) recently that “this is likely to attract quality projects [to Hong Kong] looking for a compliant, liquid, and globally connected base.” In addition to licensing achieved in Asia, Bitstamp has acquired licensing in a number of European countries such as Italy, Spain, France and the Netherlands. Last month, Robinhood launched the trading of tokenized stocks and exchange-traded funds (ETFs) for users resident within the European Union (EU). It also revealed that it is in the process of building out a layer-2 network on top of the Arbitrum blockchain with a view towards using it to host tokenized real-world assets (RWAs).

Global Blockchain Incheon Conference to Promote Web3 Exchange and AdvancementThe city of Incheon is set to host the Global Blockchain Incheon Conference (GBIC 2023) this year from October 30 to 31 under the theme “The Age of Discovery: Voyage to the New World of Blockchain.” The conference aims to provide a space for the exchange of Web3 technologies that are becoming a part of daily life and facilitating communication between businesses, all in the pursuit of establishing Incheon as a global blockchain hub.Photo by Jiho Choi on UnsplashThe city intends to reveal its master plan to achieve this pursuit, consisting of five major strategy points: citizen participation, sustainable growth, advanced innovation, development of a business-friendly environment, and global technological leadership.Exploring the rich tapestry of GBIC 2023The event will include an opening ceremony, keynote speeches, seminars, and additional activities such as hackathon competitions, photo exhibitions of cutting-edge technologies, and interactive zones. Keynote speakers include Marouen Zelleg, Head of Business Development at Polygon Labs’ Asia-Pacific region; Patrick Yoon, General Manager Korea at Crypto.com; Shun Ishikawa, COO at Astar Foundation; and Christopher Lai, Director of the Hong Kong Trade Development Council’s Korea branch.There will be sessions centered around various themes such as stepping into the future of blockchain, improving safety for the citizens of Incheon, delivering tangible innovation, integrating blockchain into daily life, venturing beyond regulations into new possibilities, disseminating technology, and innovating industrial ecosystems.In particular, the conference will also hold a demo day, where companies can showcase demos for their products and services to attract potential investors.Diverse experiences for visitorsAttendees will have the unique opportunity to see how blockchain technology is integrated into daily life by receiving non-fungible tokens (NFTs) minted with Incheon’s mascots — Deungdaeri, Bumi, Kkomi, and Aini — and participating in blockchain-powered games. Other NFTs, such as those issued by Shinhan Bank with records of information like confirmation of entry and coupon usage, will also be available.GBIC is also holding other online and offline activities for visitors to participate in, such as quizzes, social media events, and souvenir distributions.“We will demonstrate how digital technology is integrated into daily life through blockchain in the Web3 era that we are living in,” said Son Hye-yeong, Head of the city’s Data Industry Division. “We encourage everyone’s interest and participation in the blockchain presentations and forums led by global leaders.”GBIC will take place at Songdo Convensia in Incheon, an international conference complex located in Songdo International Business District.