Nomura’s Laser Ventures Invests in Singapore’s Solv Protocol

Incheon City to leverage blockchain for construction transparencyIn response to growing concerns among Koreans over recent apartment complexes built with missing reinforcing bars and unauthorized materials, the city of Incheon is turning to blockchain technology to tackle these issues.Incheon City revealed on Thursday (local time) that it has submitted proposals for public sector blockchain projects offered by the Ministry of Science and ICT. This move aligns with the city’s goal of establishing itself as a blockchain hub. By partnering with both the public and private sectors, the city aims to provide beneficial services for its citizens.This year, the Ministry of Science and ICT will gauge interest across government agencies, municipalities and public institutions for six projects, with a combined budget of KRW 10 billion ($7.5 million). In 2024, they plan to select project implementers through a bidding process. The goal is to identify public service projects where the application of blockchain technology can offer significant benefits.Photo by C Dustin on UnsplashBlockchain-driven construction oversightIn October, Incheon submitted proposals for two blockchain projects. First, it introduced a “safety certification” service to promote transparency at construction sites. This service will harness blockchain-driven integrated control technology to transparently manage apartment complex constructions. It will utilize technologies like closed-circuit television (CCTV), Internet of Things (IoT) sensors and artificial intelligence (AI) to oversee the presence of authorized personnel and track the use of approved materials.The city felt the need for this service after observing the prevalent issues with missing reinforcing bars in newly constructed flat-plate structure apartment complexes and incidents of forgery and counterfeiting of material certificates.Blockchain and eco-friendly membershipAnother project Incheon has proposed is an integrated membership service centered on eco-friendly practices, with the goal of encouraging resource recycling.Incheon City currently runs recycling shops and automated recycling machines across its counties and districts to foster recycling habits. However, with different locations necessitating different apps, the city is aiming to consolidate these into a single platform. Additionally, it intends to leverage blockchain technology to enable citizens to verify their environmental contributions.Lee Nam-joo, Head of Incheon’s Future Industry Bureau, said that how technology should be used is self-evident. He emphasized the city’s dedication to introducing tangible services that address societal challenges and enhance public safety and convenience through the application of digital technology in public services and industrial sites.

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.

China’s Bitmain Makes Plans to Unveil World’s First 1XJ/T Bitcoin MinerBitmain, the leading player in the cryptocurrency mining equipment business, is set to host the upcoming 2023 Global Digital Mining Summit (WDMS 2023) in Hong Kong, using the event as a springboard to launch its latest Bitcoin miner.The Beijing-headquartered mining equipment manufacturer set out its summit and equipment launch plans on Chinese social media platform WeChat on Monday.Photo by Dmitry Demidko on UnsplashIntroducing the ANTMINER S21With the theme “Empower the Bull Market, Mine with Timing,” the summit will aim to assist clients in strategically positioning themselves in the mining sector to reap the rewards of the next crypto bull market. During the event, Bitmain will introduce its latest research and development achievement — the ANTMINER S21 mining machine.The ANTMINER S21 is likely to take its place at the forefront of Bitcoin mining, given that Bitmain’s ANTMINER series has dominated the mining sector in recent years. Bitmain claims that with the S21, it is introducing a miner with unmatched computing power and efficiency, ushering the global mining industry into the 1XJ/T (Joules/Terahash) era.Ever greater efficiencyBitmain has consistently led the industry’s technological innovations, starting with the S9 model, which first broke the 100J/T barrier, to the S19 series with efficiency ratings of 34.5J/T, 29.5J/T, 21.5J/T, and 20.8J/T. The upcoming S21 is expected to continue this track record of ever greater Bitcoin miner efficiency.In addition to technological advancements, Bitmain is using the summit as a mechanism to offer benefits to attendees. The company will launch a customer points system, allowing clients to apply for credit limits for S21 miners based on their points, enabling them to mine first and pay later. Moreover, the points system will facilitate conversion of points into exclusive coupons for the ANTMINER S21.Hong Kong venueHong Kong has been chosen as the venue for this summit and that’s likely by design rather than by coincidence. Over the course of the past twelve months, the Chinese autonomous territory has been making huge strides in its efforts to become a center for blockchain and crypto-related business.In recent months, Hong Kong has announced several supportive blockchain policies, attracting a significant pool of Web3 talent. The summit will also feature keynote speeches from local government officials, indicating the willingness of the local administration to take every opportunity to further Hong Kong’s strategic objective of furthering crypto, blockchain, and Web3 in the city.Bitcoin mining has proven to be ruthless in its drive towards ever greater efficiency. This is playing out mainly on two different fronts. Firstly, in terms of the cost of the energy input. Miners continue to innovate in this area, to the extent that at this point, it’s difficult to remain competitive if an operation is not tapping into an energy source with a near zero input cost. This is being exploited by sourcing energy that is surplus to energy grid requirements, oftentimes renewable energy, that would otherwise be wasted.The second major factor is the efficiency of the miners themselves. Entities that gain early access to the latest generation of miners from Bitmain and other mining equipment manufacturers immediately become more efficient than the other mining outfits that they compete with to unlock Bitcoin mining rewards on the Bitcoin network.