Indian Railways to issue NFT train tickets for world’s largest religious festival

OSL Prepares for Fund Launch Following License ApprovalIn a press release published on Tuesday, Hong Kong-based digital asset platform OSL announced that its asset management business, OSL Asset Management (OSLAM), has been granted a license to trade by the autonomous territory’s securities regulator.Photo by Eliobed Suarez on UnsplashType 1,4 & 9 approvalHong Kong’s Securities and Futures Commission (SFC) has issued the firm with a license which permits it to carry out trading activities encompassing Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 activities. The latter category enables OSLAM to carry on a business involved in asset management.Upcoming fund launchWith licensing secured, OSLAM is now building up to its first fund launch which it envisages will happen within the next few months. According to the statement the company released, “OSLASM’s inaugural product offering will concentrate on unlocking new opportunities in the rapidly growing sectors of blockchain solutions, artificial intelligence (AI), and Web 3.0 technologies.”The firm claims that it has access to unique deal flow, together with the experience to operate in the asset management arena relative to the digital asset sector. OSL thinks that it is well placed in this regard as it is one of only two companies in Hong Kong who are currently licensed to facilitate security token offerings, trading and dealing.”OSL is an offshoot of the BC Technology Group, a company that provides staffing services to clients in the telecommunications sector. Ken Lo, the Deputy Chairman of BC Technology Group said that this milestone would empower the company “to explore new frontiers in blockchain and AI, creating value for our clients and shaping the future of the industry.” He added that the firm “can unlock unprecedented opportunities for growth, collaboration, and value creation” relative to these sectors.Licensing going live in JuneHong Kong has been pulling out all the stops to enable crypto business in recent months. It recently called on the banks to make an additional effort in catering to the needs of crypto businesses. It has been working on a regulatory framework culminating in this licensing regime. Licensing goes live on June 1.Speaking at the Bloomberg Wealth Asia Summit on Tuesday, Eddie Yue, the CEO of Hong Kong’s other regulatory body, the Hong Kong Monetary Authority (HKMA), said that the autonomous territory had very high guardrails over the past number of years that impeded the development of digital asset-related business. Yue believes that Hong Kong now has the right level of regulation and investor protection in place to enable the development of the sector.According to Yue, Hong Kong sees a greater opportunity in the overarching digital assets space as it develops. “Virtual assets or crypto is actually a very broad term. It’s not really about crypto, you’re talking about stablecoins or tokenized assets in the future.,” he stated.Many commentators have suggested that all illiquid real world assets will ultimately be tokenized in the future. As it stands today, a mere $0.3 trillion of illiquid real world assets have been tokenized. Some researchers anticipate that this level of real world asset tokenization will climb to $16 trillion by 2030.

Arthur Hayes: Chinese monetary policy could ignite crypto marketArthur Hayes, Co-Founder of Seychelles-incorporated crypto exchange and derivatives platform BitMEX, suggests that China could inject a substantial amount of credit into its economy, potentially giving a boost to Bitcoin and the broader crypto market.Photo by Eric Prouzet on UnsplashPotential flood of yuan creditThe firebrand crypto OG outlined his thoughts on the matter in a blog post which was published on Monday. Hayes discussed how, although China has currently made credit expensive in order to hold back credit growth and inspire confidence in the economy, its monetary authorities might be gearing up to flood the economy with yuan credit, creating a favorable environment for cryptocurrencies.He outlined a series of factors contributing to this potential surge in Chinese credit. He pointed to the interplay between U.S. monetary policy and the Chinese yuan, emphasizing how recent U.S. actions are laying the groundwork for China to issue substantial credit, particularly to its struggling property sector.Describing U.S. policy as “weakening the dollar by issuing more Treasury bills,” Hayes noted the consequent decline of the dollar index (DXY) throughout November. He argued that the weaker dollar gives China the flexibility to increase yuan credit without significant depreciation, possibly even leading to yuan appreciation.If the Federal Reserve at a minimum holds rates and better still, starts to cut rates, China will be in a position to pursue the stimulus needed for its property market and for infrastructure spending.Hong Kong as the gateway to capital marketsAccording to Hayes, the global monetary dynamics set in motion by these factors could be advantageous for Bitcoin and the broader cryptocurrency market. He explained that the bulk of the financing will trickle down into speculation within the financial markets. If China starts printing yuan, the capital is likely to flow into global markets, supporting the prices of various risk assets.But how can this happen, given that speculation and crypto trading are prohibited in China? Hayes’ view is that Hong Kong is now China’s gateway to the global capital markets. Wealthy Chinese individuals now bank via Hong Kong. As we have seen, the autonomous Chinese territory has a workable regulatory framework in place and is now actively licensing crypto exchanges and brokers. Consequently Bitcoin and crypto, generally, could be among the risk assets benefiting from an influx of capital.Furthermore, the BitMex co-founder believes that as yuan credit becomes abundant, the global demand for dollar credit and liquidity may decrease. Given that the dollar is a primary funding currency, a fall in the price of credit could lead to a rise in fixed-supply assets like Bitcoin and gold in dollar terms.Hayes concluded what is a long and detailed blog post by stating:“I will continue moving money out of T-bills and into crypto because I want to get in now before it becomes apparent through the data that China’s money printer is going brrrrr.”He suggested that Chinese New Year, which occurs in mid-February of next year, could be the time in which that extra credit materializes in China. Hayes’ latest assertion comes on the back of a bold claim he made last month when he suggested that bitcoin could reach a unit price of $1 million by 2026.

Raon Whitehat Enables College Students to Hone Skills Through MetaverseRaon Whitehat, a blockchain-based service provider of South Korean tech security firm RaonSecure, is set to launch Raon Metademy, a cutting-edge metaverse-powered professional training platform, for universities.Inviting beta testersToday, Raon Whitehat announced the successful completion of the beta version of Raon Metademy, developed in collaboration with edtech company Globepoint. The company is now inviting beta testers from university departments and educational institutions to participate.Interested universities can apply on the Raon Metademy website, with beta testing planned until the end of August. During this period, Raon Whitehat will gather valuable feedback to further enhance the platform. The official launch is scheduled for September 1 to support university classes.Effective remote practicesRaon Metademy boasts a metaverse-based training approach, offering users access to a virtual campus where they can attend lectures and practice essential skills. The platform’s highly immersive user experience allows students to create personalized avatars, explore the campus, access announcements, have a look at training courses, and utilize the training room. With vivid 3D visuals and realistic video-based exercises, students can effectively practice their skills from remote locations.Additionally, users can set up private labs to address their weaknesses, engage in discussions, and build a community similar to a physical campus environment. Among the confirmed beta testers are Chung-Ang University and Seoul Women’s University, and the application window for other institutions will remain open until mid-August. The initial beta service will focus on nursing skills, physical therapy, and security practices, with plans to expand the content to include caregiving practices and more.Photo by Nhia Moua on UnsplashDigital credentials and NFTsRaon Metademy aims to provide certificates of completion and awards of excellence in the form of digital badges, simplifying the process of submitting credentials to universities and other organizations. The platform will also introduce non-fungible tokens (NFTs) to benefit content providers, facilitating secure trading of educational materials among students.Leveraging RaonSecure’s cutting-edge technologies, including blockchain and NFTs, Raon Metademy aims to become a versatile platform open to content providers, educational institutions, and individuals alike. This will enable students to access a diverse range of captivating lessons from anywhere and give lecturers the ability to earn income by delivering high-quality hands-on training with minimal equipment and material costs.