Further Ventures invests $5M in GRVT

Xangle Joins Com2uS Group’s Blockchain Mainnet XPLA as ValidatorCrossAngle, the operator of the virtual asset analysis platform Xangle, said Thursday that it has joined Com2uS Group’s blockchain mainnet XPLA as a validator.Photo by Shubham Dhage on UnsplashIn crypto, validators are entities in Proof of Stake (PoS) blockchain networks who operate nodes and contribute to the network’s maintenance and security by validating new transactions.Xangle will participate as a validator in the XPLA mainnet, contributing to the security and well-being of the blockchain ecosystem.About XPLA and XangleXPLA is a global mainnet that offers multiple services like a non-fungible token (NFT) marketplace, a metaverse, and entertainment services. It has partnered with many leading Web3 companies from around the world, including Com2uS Holdings, Oasys, Animoca Brands, Yield Guild Games, Blockdaemon, Cosmostation, and more. Xangle has now joined as a validator, adding its name to the list.Xangle is a major platform providing research and analytics on virtual assets. It aims to address information asymmetry within the blockchain ecosystem and promotes the mass adoption of Web3.Xangle and XPLA have consistently worked together to cultivate the popularization of Web3 and create a transparent and well-maintained blockchain ecosystem. Xangle had previously participated as a partner company in the Beyond Boundaries Web3 hackathon co-hosted by XPLA and Oasys last month following XPLA’s adoption of Xangle’s on-chain analytics service in April.Xangle’s innovative solutionsXangle is also set to launch blockchain data-based corporate solutions catered to virtual asset and Web3 businesses later this year. One of these solutions, dubbed “Explorer,” will allow search and analysis of on-chain data generated within blockchain networks. The company also announced that it will launch the beta version of Xangle Beacon — a comprehensive service to help Web3 companies operate, manage, and scale their services.

On Wednesday, the Office of the Privacy Commissioner for Personal Data (PCPD) in Hong Kong launched investigations at six premises controlled by Worldcoin, the biometric cryptocurrency project established by Sam Altman, the CEO of OpenAI. Potential personal data privacy risksIn a statement, the Privacy Commissioner expressed serious concerns about potential risks to personal data privacy. The PCPD executed warrants as part of the inquiry into Worldcoin's identity verification project, particularly focusing on the use of iris-scanning orbs for identity verification. The PCPD urged Hong Kong residents to consider the implications of Worldcoin's biometric data collection and emphasized the importance of evaluating the legitimacy of such data collection. The Commission also advised individuals to inquire about the purpose of data collection, the intended use of the data, the classes of entities with access to the data, the retention period of biometric data and the safety measures implemented to protect sensitive information. "The PCPD is concerned that the operation of Worldcoin in Hong Kong involves serious risks to personal data privacy, and believes that the collection and processing of sensitive personal data by the relevant organization may be in contravention of the requirements of the Personal Data (Privacy) Ordinance," stated the privacy watchdog. The Commission highlighted that any personal data controlled by Worldcoin must be collected for a lawful purpose related to the project's function or activity, with the information collected from users' irises deemed sensitive according to regulatory guidelines.Photo by Harpreet Singh on UnsplashGlobal scrutinyWorldcoin, which commenced operations in 2021 and officially launched in July 2023, has faced regulatory scrutiny in various countries due to privacy concerns. As of December 2023, Worldcoin reported that over 5 million people had created accounts using their identities. However, the project's approach to identity verification through iris scanning has triggered investigations and actions by regulators. Notably, the project suspended services in Kenya and halted iris scans in India in response to regulatory challenges.  The company’s activities in the French and Brazilian markets have been suspended. Last year the UK’s Information Commissioner’s Office said that it would make further enquiries into the company’s activities. Meanwhile, the German data watchdog has been investigating Worldcoin since 2022. In an effort to clarify the efforts the company is making to achieve compliance across international jurisdictions where data privacy is concerned, Worldcoin recently published a blog post on the subject. Within it, the company states that it “is designed to be fully compliant with all laws and regulations governing data collection and data transfer." Despite its ongoing regulatory challenges, Worldcoin CEO Alex Blania remains steadfast in advancing the project's mission, stating recently:"We race toward billions of users as fast as we possibly can."  The project closed out 2023 by expanding into Singapore. The privacy concerns surrounding Worldcoin underscore the growing importance of balancing technological innovation with robust data privacy regulations to ensure the protection of individuals' sensitive information.

Korea’s ABB Joins Hands with Vietnam’s DTS Group for Web3 DevelopmentSouth Korean Web3 consulting firm ABB announced Monday that it has signed a comprehensive memorandum of understanding (MOU) with DTS Group, one of the fastest-growing companies in Vietnam.The agreement was signed at the 20th World Web 3.0 NFT META Marvels Bangkok 2023 conference held in the Thai capital last Friday, with ABB’s CEO, Jung Joo-pil, and DTS Group’s Chairman, Truong Gia Bao, in attendance.Photo by Shubham Dhage on UnsplashFostering Web3 innovation and diplomatic tiesThis collaboration is expected to contribute significantly to the development of Web3 in both Korea and Vietnam. They will start by discovering and investing in promising blockchain startups and expand into more diverse business areas, then further enhance their cooperation in Web3 technology development and promotional marketing in the future.About ABB and DTS GroupABB is primarily engaged in consulting, promotional marketing, and fundraising for blockchain-related projects. It is widely known as the publisher of the Korean blockchain monthly magazine Blockchain Today, through which it contributes to the growth of the Korean blockchain industry.DTS Group, on the other hand, is one of the fastest-growing firms in Vietnam and operates via four main subsidiaries, including DTS Foundation, which focuses on the incubation of blockchain startups; DTS Ventures, a venture capital firm that invests in blockchain startups; DTS Media, which engages in marketing and event organization; and Mira Blockchain Center, which focuses on the development and support of blockchain and AI technologies.