Dubai Tempts AI and Web3 Enterprises With Subsidized Commercial Licenses

Wemade Releases Sustainability Report to Demonstrate Commitment to TransparencyWemade, a leading South Korean blockchain gaming company, has published its 2022 sustainability report, demonstrating its commitment to transparency and effective communication with shareholders and investors.Photo by Ash from Modern Afflatus on UnsplashThree ESG objectivesIn the report, Wemade CEO Henry Chang outlined three key objectives focused on environmental, social, and governance (ESG) principles. These objectives are strengthening the company’s eco-friendly practices, nurturing future minds in the blockchain industry, and establishing a transparent governance framework.Wemade’s WEMIX 3.0 ecosystem is built on three main pillars: the global blockchain gaming platform WEMIX PLAY, the DAO-based NFT platform NILE, and the decentralized finance service WEMIX.Fi. These platforms are supported by the WEMIX token and WEMIX Dollar (WEMIX$), which are key currencies within the ecosystem. WEMIX$ is fully backed by USD Coin (USDC).The WEMIX token is listed on more than 17 cryptocurrency exchanges, including KuCoin, Gate.io, and Bybit, according to CoinMarketCap. Meanwhile, WEMIX$ can be traded on WEMIX.Fi and centralized exchange BitMart.Transparency initiativesThe report highlights various transparency initiatives undertaken by the company. Wemade has partnered with crypto data platform Xangle, intending to enable users to monitor the real-time circulation of the WEMIX token. The company has also established a protocol investment committee of five members to review and approve diverse projects. Furthermore, the report mentions that all of the undistributed WEMIX tokens are held by institutional custodian Ceffu (formerly known as Binance Custody) to ensure WEMIX’s stability.According to the report, Wemade is committed to effective communication with stakeholders worldwide, including shareholders, token investors, and gamers. CEO Chang’s quarterly conferences play a significant role in unveiling the platform’s policies and answering stakeholders’ questions. Additionally, the company ensures the dissemination of information in multiple languages (Korean, English, Chinese, Spanish, and Indonesian), catering to global WEMIX token holders.CEO Chang underlined the company’s dedication to enhancing corporate transparency and fulfilling its social responsibilities. These measures are aimed at facilitating the sustainable growth of the blockchain company.

Dunamu’s Legal Team Recognized by Korean Police for Cyber Security ContributionsDunamu, the blockchain and fintech company behind South Korea’s largest cryptocurrency exchange Upbit, recently announced a noteworthy security achievement. At the 16th Cyber Security Awards organized by the Korean National Police Agency (KNPA), the leader of Dunamu’s Legal Team 3 was recognized with the KNPA Commissioner General’s Certificate of Appreciation. This accolade was in acknowledgment of the legal officer’s pivotal role in fostering collaboration between the private sector and police to combat the rising tide of cryptocurrency-linked crimes.Photo by Franck on UnsplashSupport guides and educational resourcesDunamu stands out as the only Korean virtual asset service provider (VASP) to have an employee distinguished in this manner this year. It’s worth noting that Dunamu’s legal teams have been proactively cooperating with law enforcement, providing them with investigation support guides and educational resources.A representative from Dunamu’s legal teams expressed gratitude to all team members for their collaborative efforts in combating virtual asset-related crimes and appreciated the recognition for their achievement. The official further emphasized Dunamu’s ongoing dedication to maintaining close cooperation with police and investigative bodies, aiming to cultivate a healthy virtual asset ecosystem.Awards since 2008The Cyber Security Awards were established in 2008 to recognize and honor those making significant contributions to cyberspace security. The awards not only motivate cyber police officers but also aim to bolster collaboration between the police and the private sector.This year, 27 distinguished individuals — including police officers, civil servants, and ordinary citizens — were recognized at the ceremony held on October 19 in Songdo Convensia, Incheon. They received commendations and certificates of appreciation for their contributions in areas ranging from cybercrime investigation and prevention to digital forensics.

Bitcoin mining company Bitdeer Technologies Group is finally set to go public on the Nasdaq this Friday after a series of delays. The Singapore-based firm, which offers cloud mining services, has been in a special purpose acquisition company (SPAC) merger process with Blue Safari Group. Drawn-out merger processBlue Safari Group filed for three extensions within six months last year, the last extension being a year long. The deal was originally expected to close in November 2021. The stopping block for the latest extension was insufficient time to get shareholder approval. However, Bitdeer Technologies Group revealed in a statement that shareholder approval has now been filed with the SEC.The merger was finally approved at an extraordinary general meeting of Blue Safari’s shareholders on April 11. The results of the vote will be included in a current report on Form 8-K to be filed by Blue Safari with the SEC. The deal is expected to close on April 13, 2023. Upon closing, Bitdeer Technologies Group will remain as the combined company, and its shares will begin trading on the Nasdaq under the ticker symbol “BTDR” on April 14.Bitdeer CEO Linghui Kong said, “Today marks a significant milestone for Bitdeer, leaving us poised to list on the Nasdaq and equipped to seize the growth opportunities ahead of us. I am incredibly proud of what we have achieved so far and look forward to embarking on the next chapter of our journey.” The firm operates six mining data centers globally, with an aggregate electricity capacity of 775MW at the end of 2022. Surviving crypto winterBitdeer Technologies Group, backed by Bitmain founder Jihan Wu, offers cloud mining services, and is participating in a market that has been impacted by market volatility. However, miners that have survived are doubling down on expansion efforts. Yesterday, for example, the U.S. mining firm CleanSpark announced the purchase of 45,000 new mining machines for $144.9 million.Bitdeer will be part of a growing list of Bitcoin mining firms listed on Nasdaq, joining the likes of Riot Blockchain, Marathon Digital, and Canaan. Green miningRecently, the cryptocurrency mining industry has witnessed significant growth in green mining efforts. Terawulf, a US-based company, recently announced that its nuclear-powered mining facility, Nautilus, will come online soon. When fully operational, Nautilus is expected to have a hash rate of 1.6 exahashes per second (EH/s). The facility will run on nuclear power, which will significantly reduce the carbon footprint of the mining operations.The energy-use of crypto mining has been coming under scrutiny relative to its carbon footprint and the demands it places on the power grid. In what many in the crypto space have called a “hit piece” targeting mining, the New York Times took aim at the industry on Monday. Bitdeer took to Twitter to call out false claims made by the publication relative to its use of energy during a 2021 winter storm.Bitdeer’s journey to becoming a publicly-traded company has been fraught with delays, but with shareholder approval in place, the company is ready to enter the public markets.