Wame and Pacific Meta join forces to build Asian Web3 industry

Thailand’s capital markets supervisory agency, the Securities and Exchange Commission (SEC), is preparing to launch a trading system, built on distributed ledger technology (DLT), to enable securities firms to trade tokenized securities.Photo by allPhoto Bangkok on PexelsTokenized investments gaining tractionThat’s according to a report published on Feb. 3 by Bangkok-based English language newspaper, the Bangkok Post. Jomkwan Kongsakul, deputy secretary-general of Thailand’s SEC, said that tokenized investments are gaining traction. With that, the development will give the regulator experience in supervision of the latest digital-era markets. The move is also seen as an indication to securities firms of the acceptability of DLT-based tokenized trading from a regulatory perspective in Thailand. The regulator plans to sign off on permitting securities firms to trade digital tokens, bootstrapping digital token trading through accessing the large investor bases of these firms. Commenting on the initiative, Jomkwan Kongsakul stated: “The SEC is leveraging technology to enhance efficiency in the capital market by promoting an electronic securities ecosystem,” while “new regulations will be launched to facilitate the issuance of electronic securities and online purchases of debentures.” Debentures are unsecured debt instruments issued by companies to raise funds. Efficient primary & secondary market tradingThe proposed system will incorporate primary and secondary market trading of fully digitized bonds. Other features will include investor registration and multiple blockchain support with the inclusion of blockchain interoperability capabilities. It is as yet unclear which blockchains the platform will be built around. Speaking on that topic, the SEC executive stated: “In the future, there may be multiple chains for trade. Trading through DLT on all systems is connected by a shared ledger, which is expected to be completed soon.” In its preparations to launch the system, the Thai SEC has approved four digital token projects thus far. Two more projects are understood to be at the review stage. The focus is being placed on green tokens and investment-based projects. The regulator believes that through tokenization, greater efficiency and liquidity can be achieved. There’s a delay of between seven and 14 days before bonds, which have been bought on the primary market, can be traded on a secondary market. Tokenization can help to resolve this issue.  Furthermore, where bonds are too expensive for investors or too illiquid, tokenization can help in both cases, broadening access to the range of products available to the investing public. In addition to this latest news, a number of positive signs have arisen from Thailand with respect to digital assets in recent weeks. It emerged last month that the SEC is considering approving spot Bitcoin exchange-traded funds (ETFs) within the Southeast Asian nation.  Related to that development, SEC Secretary-General Pornanong Budsaratragoon said that the agency has “to adapt and ensure that our investors have more options in crypto assets with proper protection.” Last month, comments made regarding cryptocurrency by Thailand’s former Prime Minister, Thaksin Shinawatra, were quite positive. He called on the SEC to enable the trading of stablecoins. Since then, Thailand’s Minister of Finance, Pichai Chunhavajira, discussed plans to issue a stablecoin that would be based on the Thai Baht and backed by government bonds.

Cartesi Launches Inaugural dApp on Ethereum MainnetSingapore-based Cartesi, the app-specific roll-up protocol with a virtual machine running Linux distributions, has introduced its inaugural dApp.The decentralized application, aptly named Honeypot, has been designed to serve as a platform for developers and ethical hackers to rigorously scrutinize the security of the Cartesi protocol’s underlying codebase, all in exchange for lucrative bounties.Photo by Michael Förtsch on UnsplashHoneypot deploymentAccording to a press release published on Tuesday, Honeypot is set to fulfill the vital role of stress-testing Cartesi’s foundational code on the Ethereum mainnet. The successful deployment of Honeypot will pave the way for Cartesi’s technology to be employed in a multitude of other dApps. Notably, a unique aspect of Honeypot is the tempting incentive it offers. The first individual to successfully hack it will be entitled to drain the sum of 1.77 million Cartesi tokens, equivalent to $220,000, after one year without any constraints.Embedded within the Honeypot dApp’s backend code is an algorithm that only permits the Cartesi Foundation’s depositor account to make fund withdrawals. Participants who dare to take on this code-breaking challenge must successfully navigate the intricacies of the algorithm to claim the reward.Developer Advocacy contributor to Cartesi, Gabriel Barros, stated: “We want to welcome all developers to test Cartesi’s Rollup infrastructure — but in a gamified challenge.”Aiding dApp developmentCartesi stands as a Layer 2 network specifically designed to streamline the development of intricate and powerful dApps. Its mission is to bridge the gap between conventional development practices and blockchain-based solutions, attempting to offer a seamless transition for developers.At its core, Cartesi introduces a mechanism that enables dApps to execute resource-intensive computations off-chain within a Linux environment. Crucially, these off-chain computations are verifiable by the blockchain, ensuring that the final results remain consistent across all nodes. This approach empowers developers to harness existing software and tools while ensuring compatibility with the blockchain.Linux insideThe choice of a Linux environment is pivotal to Cartesi’s framework. Linux enjoys widespread usage worldwide, particularly in server environments, making it a familiar and well-adopted platform. This familiarity extends to the extensive array of tools and libraries available within the Linux ecosystem, which are leveraged by developers for a myriad of traditional web applications.Gabriel Barros underlined Cartesi’s mission, stating:“Cartesi’s goal is to eliminate the limitations Web3 developers face by enabling them to import decades of familiar programming tools, libraries, and languages to the blockchain. By doing so, Cartesi unlocks a new realm of possibilities, allowing developers to surpass what was previously imaginable with earlier web3 applications.”Cartesi’s introduction of the Honeypot dApp on the Ethereum mainnet signifies a significant step towards ensuring the security and robustness of its protocol. Furthermore, it demonstrates Cartesi’s intentions in attempting to foster a vibrant and innovative ecosystem for developers in the blockchain space.

Wemade’s NILE Launches NFT Tickets for Game Exhibition G-STAR 2023NFT Is Life Evolution (NILE), a decentralized autonomous organization (DAO) and NFT platform built on the WEMIX3.0 network of South Korean blockchain gaming publisher Wemade, is starting the sale of its NFT tickets at noon (local time) on October 25 for the upcoming global game exhibition, G-STAR 2023. The highly-anticipated event is scheduled to take place at the Busan Exhibition and Convention Center (BEXCO) in the southern port city from November 16 to 19.Photo by Pete Linforth on PixabayNFTs as admission ticketsJointly prepared by Wemade and G-STAR, these NFT tickets are called Real World Event NFTs, functioning as admission tickets and vouchers for special merchandise. One noteworthy feature is that they undergo changes in appearance upon use, a characteristic inherent to dynamic NFTs.The sale of these NFT tickets begins on NILE’s marketplace at noon (local time) on October 25. Those interested can utilize WEMIX dollars (WEMIX$) via the WEMIX Wallet to purchase a daily NFT ticket for their chosen day of attendance at the event.Game enthusiasts will also have the chance to witness Wemade’s latest games at BEXCO. The Korean game company mentioned that it has reserved a significant space at the exhibition hall to showcase two of its newest games: the MMORPG “Legend of YMIR” and the sports game “Fantastic4 Baseball.”WEMIX and Chainalysis partnershipAlong with its gaming and NFT endeavors, Wemade has been taking steps to fortify the security of its ecosystems. On the day of the NFT sale kickoff, the WEMIX Foundation, a subsidiary of Wemade, announced its strategic partnership with Chainalysis, a blockchain data analytics company. This collaboration will bolster the security of storage and transactions of assets within Wemade’s omnichain network. The network is being developed through a project known as “unagi,” which stands for the Unbound Networking and Accelerating Growth Initiative.Established in 2014, Chainalysis has worked with government agencies, cryptocurrency exchanges, financial institutions, insurance companies, and cybersecurity firms in over 70 countries. They offer services to safeguard customers and combat virtual asset-related crimes.Through this partnership, the WEMIX Foundation seeks to operate a comprehensive risk and compliance program via Chainalysis’ data platform. This will help minimize potential risks associated with illicit activities like money laundering while maintaining a smooth user experience.The foundation will also engage with Chainalysis’ Crypto Incident Response service, enabling immediate tracking and recovery of assets if hacked or stolen.Regarding this development, the WEMIX Foundation underlined that its alliance with Chainalysis will enhance the transparency and reliability of both the WEMIX3.0 mainnet and the unagi omnichain ecosystem.