Indian railways to explore NFT ticketing during Holi festival

Binance to Incubate Startups, Provide Blockchain Education in Incheon CityBinance, the world’s largest cryptocurrency exchange by trading volume, intends to educate students on blockchain technology and foster startups in Incheon, according to Korean blockchain media Decenter.Photo by Hon Kim on UnsplashBinance’s planOn Tuesday, at the 2023 Incheon Metanomics event, Leon Sing Foong, the Head of Asia-Pacific Operations at Binance, emphasized the strategic advantages of Incheon’s location near the nation’s capital and its prestigious universities, which make it an ideal hub for attracting top talent. Binance has plans to offer blockchain education to college students, as well as incubation services for startups in Incheon. Additionally, the prominent cryptocurrency exchange intends to provide guidance to blockchain projects and generate public interest in the field.Effective communicationFoong also emphasized the importance of effective communication between cryptocurrency companies and government entities. He suggested that clear and consistent crypto regulations would enable international companies to secure large-scale funding, while unrestricted capital inflow would facilitate efficiency and innovation within the industry. Foong also noted that attracting capital to the Incheon Free Economic Zone (IFEZ) requires a predictable and stable regulatory environment. To achieve these goals, Foong proposed that companies and governments engage in constructive dialogue on regulatory matters.Incheon’s five-year initiativeMeanwhile, Incheon has allocated 13.3 billion KRW (equivalent to $10 million) for a five-year urban blockchain initiative that will run until 2026, as per Incheon City’s press release. Since last year, the city has been conducting pilot programs utilizing blockchain technology for public parking and recycling systems.During the conference, IFEZ Commissioner Kim Jin-yong said, “We are dedicated to offering support and constructing infrastructure to attract enterprises to the IFEZ, enabling them to drive innovation in high-tech industries.”Mayor Yoo Jeong-bok of Incheon City highlighted the city’s aspirations to become a forward-thinking city and a major hub for blockchain technology. He emphasized Incheon’s commitment to fostering collaboration among various sectors to create a diverse range of exceptional services and innovative business models.

Hana Financial and FSS join hands to foster young digital talentHana Financial Group said Sunday that the South Korean financial holding company held a proclamation ceremony for the second Hana Digital Power On Project last Thursday — a program designed to cultivate young digital talent in emerging technologies like blockchain and big data — at the Hana Global Campus in Incheon.Support from tech juggernautsThe program, sponsored by the Korean Financial Supervisory Service (FSS) and several tech giants such as Google, Amazon Web Services, Microsoft, and SK Telecom, was first held last year. This year’s project saw the participation of over 50 individuals forming 16 teams, Hana said.Photo by Marvin Meyer on UnsplashCompetitions and trainingA contest centered around new digital technology was also held on the same day. Participating teams proposed ideas for solving issues that may arise in the financial industry using artificial intelligence, blockchain, cloud computing, and big data technologies.Winning teams will be rewarded up to KRW 10 million (approximately $7,500) in prize money along with the opportunity to visit several information technology companies. They will also have the chance to participate in a hackathon competition organized by SK Telecom to further develop their ideas.They will also undergo a four-week digital education program put together by Google, Microsoft, and Amazon, as well as practical training provided by the Hana Institute of Technology. Notably, graduates of the program will be exempt from going through the initial screening process when applying for positions at Hana Financial Group.Officials including Lee Bok-hyun, Governor of the FSS; Lee Hoon-kyu, Director of Future for Youth Foundation; and Ham Young-joo, Chairman of Hana Financial Group, were in attendance.“We will strive to cultivate young digital talent and create employment opportunities for the youth,” said Hana Chairman Ham. FSS Governor Lee also added that there is a need to secure interdisciplinary talents capable of generating innovative ideas.

Crypto.com, the Singapore-headquartered cryptocurrency exchange platform, has outlined that it has seen significant growth thanks to high-profile sports sponsorship and advertising. Reaping the rewardsThe company has established advertising partnerships with Formula 1 (F1) motor racing and the Ultimate Fighting Championship (UFC). These lucrative sponsorship deals have propelled the exchange into the spotlight of two massive fan bases, contributing to its expansion. In an interview with Cointelegraph last week, Eric Anziani, president and chief operating officer of Crypto.com, discussed the company's successful advertising campaigns with F1 and the UFC, as well as its naming rights deal for the Crypto.com Arena in downtown Los Angeles. In 2021, what was then the Staples Center was renamed to the Crypto.com Arena in a $700 million naming rights deal. Anziani expressed gratitude for these partnerships, emphasizing the importance of staying top of mind for users in the competitive cryptocurrency market.  That same year, the company signed a multi-year partnership deal with leading French football club Paris Saint-Germain (PSG), rolling out various PSG-related marketing activities since then.Photo by Austin Loveing on UnsplashBrand recognition benefitsMarket surveys conducted by Crypto.com indicate a high level of global awareness and brand recognition among retail cryptocurrency users. The exchange's logo prominently displayed during F1 races and UFC events has helped it reach millions of fans worldwide. ESPN reports an average of 1.11 million viewers per race for the 2023 F1 season in the United States alone, with global viewership exceeding one billion over the entire race calendar. Similarly, the UFC boasts a global audience, with some of its biggest fights attracting millions of pay-per-view viewers. Anziani highlighted the effectiveness of these partnerships in bringing people into the cryptocurrency space.  User base approaching 100 millionThese partnerships have significantly contributed to Crypto.com's growing user base, which is approaching 100 million users in 2024, up from an estimated 80 million in the previous year. Anziani discussed the factors that drive users' choice of exchange platforms, emphasizing the importance of compliance, security, convenient access to cryptocurrency and competitive fees. He noted that different users prioritize different aspects based on their trading preferences and requirements. The firm is not alone in pursuing high-profile sports sponsorship deals. Rival platform OKX has an ongoing sponsorship deal in place with Manchester City Football Club in the English Premier League (EPL). It also has doubled down recently on the sponsorship of F1 racing team McLaren. Other notable partnerships include crypto gambling platform Stake.com’s sponsorship of Sauber F1, crypto exchange platform Kraken’s deal with Williams F1 and BingX’s sleeve sponsorship agreement with Chelsea football club in the EPL. High-profile marketing initiatives are alive and well, although in a much more sober way than in 2022 when six crypto companies featured in Super Bowl advertising in the United States. Kraken’s chief marketing officer, Mayur Gupta, recently stated that the Super Bowl is no longer an effective means of promotion for crypto companies.