PDAX gears up for trading surge amidst Binance market exit

Korean game company Krafton’s metaverse studio OVERDARE announced yesterday via its official blog that it forged a partnership with Circle, a U.S.-based fintech firm that issues stablecoin USDC. Founded in December 2023, OVERDARE is a joint venture between Krafton and Naver Z, a subsidiary of online platform operator NAVER Corporation.  In collaboration with Circle, OVERDARE plans to jointly develop its own USDC payment and settlement system in addition to the Web3 wallet. These services are set to be adopted by its upcoming user-generated content (UGC) platform “OVERDARE,” which bears the same name as the company. Photo by Javier Martínez on Unsplash A metaverse platform for game creationThe soon-to-be-launched OVERDARE is a metaverse platform where users can create various types of games ranging from action role-playing games (RPG) to sports and shooting games. What enables users to create games with ease on this platform is “OVERDARE Studio,” a sandbox tool equipped with generative AI and Unreal Engine 5.   OVERDARE adopts the Create-to-Earn (C2E) system, which returns a portion of the sales profit to creators. The creators’ works in the form of NFTs and their transaction details are recorded onchain, strengthening the transparency of transactions and payments. OVERDARE’s self-developed Layer-1 blockchain mainnet “Settlus” will also do its part in the service operation, which would license the intellectual property (IP) of creators’ works on Web2 platforms.  Stablecoin to empower creator economy“Circle is excited to be at the forefront of this pioneering venture with OVERDARE to empower the creator economy through the provision of secure Web3 wallets and near-instant USDC payouts on a global scale. We believe this partnership will be a catalyst in shaping the future of digital entertainment, ultimately fostering an innovative Web3 environment for all,” said Jeremy Allaire, CEO and co-founder of Circle. Henry Park, CEO of OVERDARE, stated, “We’re excited to unveil our partnership with Circle, a company distinguished by its regulatory compliance and trustworthiness. Their robust support ensures that we are able to support the creator economy, and guarantee creators reliable access to their earnings.”OVERDARE is scheduled to launch a large-scale user test in the first half of this year and officially launch the service in the second half.

UK-headquartered decentralized mobile network project World Mobile has teamed up with PT Professional Telekomunikasi Indonesia, better known as Protelindo, to launch a blockchain-based 5G mobile network. Founded in 2003, Protelindo is an Indonesian digital infrastructure firm that specializes in fiber optic networks and telecommunications towers. It owns and operates a large network of these towers in Indonesia, leasing them out to various mobile service operators.  The two firms acquired Combined Space Technologies (CST) earlier this year as a joint venture. CST had been originally founded in Cambridge in the UK, backed by Deutsche Telekom to the tune of $70 million. Successful demos of its proprietary technology had been completed in conjunction with British Telecom (BT) and Deutsche Telekom before World Mobile and Protelindo decided to purchase the company.Photo by Alessio Soggetti on UnsplashWorld Mobile StratosphericIn a press release published on Aug. 8, World Mobile outlined that through CST, the two companies have launched World Mobile Stratospheric.  World Mobile asserts that the establishment of this stratospheric connectivity platform is “unprecedented.” The project implicates the use of fixed-wing drone aircraft, which it proposes to use to host 500,000 simultaneous 5G handset connections while flying at altitudes of up to 20,000 meters. World Mobile Group Chief Business Officer (CBO), Charles Barnett, told Cointelegraph that each drone can provide wireless network coverage over an area of 15,000 square kilometers. Each aircraft will host 450 individually steerable beams in order to deliver the service within a defined geographical area. Low latencyBarnett outlined that the technology can achieve just six milliseconds of total latency with the service having the capability of providing 5G service up to 18 times cheaper per gigabyte by comparison with other similar technologies. It’s thought that the service will compete with space/satellite-based telecoms systems such as Elon Musk’s Starlink. While Starlink has brought internet to corners of the globe that were otherwise underserved, it has been criticized in terms of its interference with astronomy, increased space debris and the potential for atmospheric pollution. Additionally, the low-earth orbit (LEO) satellite-based service has much higher overheads. In comparison with World Mobile Stratopheric’s six millisecond latency, Starlink is much higher at 47 milliseconds. The system delivers directly to the consumer’s device, whereas Starlink is delivered to a satellite dish with significant cost implications for the user. Stratomast, the hydrogen-powered drone aircraft, can stay up for between six and nine days and produces zero emissions. While Starlink and World Mobile Stratospheric may compete, Barnett believes that Starlink is the better choice when delivering service to remote areas that lack any cellular connectivity at all, whereas Stratospheric is the best option in areas with a higher density of mobile users. Micky Watkins, CEO of World Mobile, said that the partnership proves how blockchain can unlock new models for global connectivity. He added:“It aligns infrastructure deployment with community participation and makes decentralized telecom not just possible, but scalable.” Watkins believes that by combining advanced aerospace technology with token-driven economics, the project is building a network that connects more people, faster, in an economically efficient and environmentally sound manner. 

OpenAI CEO Sam Altman's Worldcoin project aims to bolster ties with Malaysian officials amid concerns over data privacy. Sam Altman and Alex Blania, key figures behind the Worldcoin project, recently engaged in discussions with Malaysian leaders, including the nation's Prime Minister, to enhance government relations. The move comes as Worldcoin faces scrutiny and seeks to address concerns surrounding data protection.Photo by Esmonde Yong on UnsplashAddressing privacy concernsThe "proof-of-personhood" crypto project has been under scrutiny for its data collection practices. Last month, temporary bans were imposed by Spain and Portugal, halting Worldcoin's data collection activities. The project offers WLD tokens to users in exchange for iris scans to create their personal World ID, prompting privacy advocates' concerns. Government attention and oversightWorldcoin's high-profile nature, coupled with Sam Altman's involvement, has drawn significant government attention. Countries like Germany, France, Argentina, Kenya and South Korea have initiated investigations into the project's data collection practices. Despite challenges, senior government officials continue to engage with Worldcoin amidst growing concerns about artificial intelligence threats like deepfakes. Strengthening government relationsTo address regulatory concerns, Worldcoin's parent company, Tools for Humanity, appointed Trevor Traina, former U.S. ambassador to Austria, as Head of Global Affairs. Traina emphasized the importance of meeting policymakers' expectations regarding data privacy and security. New privacy measuresIn response to regulatory pressures, Worldcoin introduced "Personal Custody," discontinuing the storage of biometric data for new signups. Additionally, users can now request the deletion of their iris codes, and stricter age verification measures have been implemented to prevent minors from signing up. These measures were developed in consultation with privacy experts and data protection authorities. Despite challenges, Worldcoin has assigned over five million World IDs, according to project data.