TZ APAC strikes marketing partnership to drive Tezos gaming

UAE Forges Partnership to Develop Blockchain-Based Carbon Credit SystemIn an endeavor to combat climate change, the UAE Ministry of Climate Change and Environment (MOCCAE) has joined forces in an initial collaboration with the Industrial Innovation Group and the Venom Foundation to pioneer a groundbreaking blockchain-based carbon credit system.Photo by Daniel Zacatenco on UnsplashThis is the latest commitment by the Middle Eastern country to combat climate change after announcing an ambitious target to slash carbon emissions by a substantial 40% before 2030, a significant escalation from its prior commitments.According to local news sources, a memorandum of understanding (MoU) outlining the partnership was signed by the three entities at MCCE offices in Dubai recently.Carbon credits on blockchainAt the heart of this innovative endeavor lies blockchain technology, heralded as a pivotal tool for both organizations and nations to meticulously trace carbon credits. By virtue of its immutability, data enshrined within the blockchain ensures ironclad security, enabling the seamless sale or exchange of credits while upholding complete transparency among stakeholders.Functioning as crucial intermediaries, government entities such as the UAE’s MOCCAE are poised to either allocate or sell dual-purpose credits to businesses. Beneficiaries can deploy the credits, authorizing the emission of a predetermined quantum of carbon within specific timeframes, or they can be lucratively traded, thereby aiding other establishments in mitigating their ecological footprint.Venom blockchainVenom blockchain is a network developed by the Abu Dhabi-based Venom Foundation. As an asynchronous blockchain, its design implements dynamic sharding with flexible nodes that adapt to traffic changes, rendering it infinitely scalable. The project has established itself within the Abu Dhabi Global Market (ADGM), an international finance center and fintech hub.Revised environmental goalsThe UAE leadership recently orchestrated a sweeping recalibration of the nation’s environmental goals and carbon offset strategies. Envisioning a sustainable horizon, their overarching aspiration revolves around achieving carbon neutrality by 2050.Mariam Al Mheiri, UAE Minister of Climate Change and Environment, articulated how these shifts have cast a positive impact on the nation’s emissions reduction roadmaps:“The UAE believes in its ability to make a difference in this field and has pledged, through the third update of its second Nationally Determined Contributions (NDCs), to reduce its emissions by 40% compared to a business-as-usual scenario, an increase of 9% over its previous pledge.”Even though the UAE ranks 31st on a global scale in terms of total carbon emissions as of 2023, there stands a more sobering reality — the nation ranked sixth worldwide in terms of per capita emissions according to 2021 data. It also emitted a staggering 21.79 tonnes of carbon per capita in the same year.Concurrently with its overarching national push towards emissions reduction, each of the UAE’s seven emirates has unveiled localized initiatives to align with the bold “net zero by 2050” target.Among these, a comprehensive program championed by Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has recently gained approval in Abu Dhabi, emblematic of a collective commitment to fostering a sustainable future.

Korean Blockchain Game Publisher Joins UNGC to Bolster ESG ManagementWemade, a Korean blockchain game publisher, joined the United Nations Global Compact (UNGC) to bolster its environmental, social, and governance (ESG) management. The company announced its membership through a press release issued on Wednesday.Photo by Noah Buscher on UnsplashUNGC membershipSince its establishment in 2000, the UNGC has evolved into the largest corporate sustainability initiative worldwide. With a membership base of over 20,000 companies spanning across 162 countries, it serves as a platform for organizations to align their operations with ten principles encompassing human rights, labor, environment, and anti-corruption.Annual reportsUnder the guidelines of the UNGC, Wemade will fulfill its commitment by submitting an annual report called the Communication on Progress (COP). The company’s objective is not only to meet sustainable development goals but also to enhance its ESG management. Along with these endeavors, the company will strive to improve its corporate citizenship.ESG managementIn expressing his thoughts on the matter, Wemade CEO Chang Hyun-guk emphasized that the company’s inclusion in the UNGC would serve as a catalyst for driving sustainable growth through ESG management. He underscored its commitment to fulfilling corporate social responsibility and meeting global standards by practicing ESG management, given its position as a leading entity in the blockchain market.Wemade’s three main objectivesMeanwhile, Wemade is practicing ESG management centered on three main objectives: responsible environmental management, inclusive growth for future generations, and transparent governance.

Bitget Launches Crypto Loans ProductBitget, the Seychelles-based platform known for its crypto derivatives and copy trading services, is venturing into the cryptocurrency loan market with the introduction of its Crypto Loans product.The move, which the company announced via a press release published on Tuesday, is aimed at attracting users who are seeking alternative funding solutions backed by digital assets, as an option beyond traditional credit institutions.Photo by Traxer on UnsplashDual coin approachThe Crypto Loans product employs a dual-coin approach, allowing users to stake one digital asset as collateral and borrow an equivalent amount in another asset. Bitget believes that crypto loans have been gaining popularity in recent years, with the overall digital lending sector surpassing $8.5 billion in 2022 and experiencing a compound annual growth rate of 20.5%, as reported by Global Market Insights.Despite the overall growth in the digital lending area, the crypto loan sector faced significant setbacks in 2022, particularly with the troubles surrounding centralized crypto lending services. Major firms like Celsius, BlockFi, and Voyager Digital suffered collapses and bankruptcy, raising concerns about the trustworthiness of such services in the future.Bitget, however, is confident in its Crypto Loans product, emphasizing that it has streamlined the loan process to ease user onboarding. The amount users can borrow is determined by the market value of the collateral staked, and the loan is automatically disbursed with a specific interest rate. Borrowers have the flexibility to utilize the funds as needed and adjust the collateral based on their requirements.Swift loans processIt also has the option to repay the loan before or at the predetermined deadline. To further encourage user adoption, Bitget promises support for withdrawals and a swift review process for loan applications. The feature is expected to provide added convenience and ease of use for users.Bitget’s Managing Director, Gracy Chen, highlighted the advantages of the Crypto Loans product, noting that users can now stake less-demanded coins and obtain loans in more liquid assets for investment purposes. The platform’s flexible borrowing and repayment mechanism is designed to accommodate the needs of all users, ensuring convenience and accessibility.Notably, Bitget has been expanding its presence in the crypto market. In March, the platform acquired a controlling stake in BitKeep, a crypto wallet that has been rebranded as Bitget Wallet. Additionally, Bitget unveiled a $100 million venture fund in April, following a $10 million investment from Dragonfly Capital. In May, it announced the launch of its Blockchain4Youth program, recognizing the importance of the younger demographic in achieving crypto mass adoption.As Bitget ventures into the crypto loan market, it’s aiming to go one further than previous crypto lending providers who have largely failed, to provide a secure and user-friendly platform for borrowing and lending digital assets. The success of the product will depend on user trust and confidence, especially given the setbacks experienced by those other players in the sector in the past. Nonetheless, with its growing user base and strategic investments, Bitget is certainly showing some potential relative to making a mark in the cryptocurrency loan market.