Coin Oasis Founder Thinks UAE Set Up For Crypto Success

Google Cloud becomes a Volunteer Validator for gaming blockchain XPLAXPLA, a gaming blockchain guided by Korean cultural content company Com2uS Holdings, revealed in a blog post on Tuesday (local time) that Google Cloud has joined as a validator for its blockchain network.Through their collaboration, Google Cloud will take on the role of the first Volunteer Validator for the XPLA blockchain. This partnership enhances the network’s security and governance, as validators are responsible for maintaining the integrity of a blockchain network by validating and relaying transactions.Photo by engin akyurt on UnsplashLayer-1 mainnetXPLA is a layer-1 mainnet that features a diverse group of network participants from the Web3 space. This includes notable enterprises such as Oasys, Animoca Brands, Yield Guild Games (YGG), Blockdaemon, gumi and LayerZero, all contributing to the ecosystem.Commenting on this initiative, Jack Buser, Google Cloud’s director of game industry solutions, said, “We are pleased to take on a role as a Volunteer Validator for the XPLA ecosystem.” According to South Korean news outlet Etoday, Buser expected that the cloud computing services provider’s robust infrastructure will contribute to driving rapid growth and fostering innovation within the realm of Web3 gaming.Better Web3 experiencesPaul Kim, Leader of the XPLA team, echoed similar sentiments as he welcomed Google Cloud’s participation in their project. He mentioned their shared aim to deliver innovative and appealing Web3 experiences to gamers worldwide within a transparent Web3 ecosystem. Kim said, “Through this collaboration, XPLA can secure advanced IT technology and insights into future industries.”

Seoul and Baobab Partners Face Controversy Over Unpaid Prize Winnings for SWF2023 HackathonThe city of Seoul has come under public scrutiny for failing to pay the winners of the Seoul Web3 Festival (SWF2023) Hackathon a cash prize worth KRW 150 million (approximately $112,000). The Seoul Metropolitan Government has argued that since it was simply a naming rights sponsor, the responsibility for paying the prizes lies with Baobab Partners, who co-hosted the event. However, critics argue that the city did not properly vet Baobab Partners more rigorously before hosting the event.Photo by okaybuild on PixabayUnpaid prizes lingerThe SWF2023 Hackathon took place from July 31 to August 2 at Dongdaemun Design Plaza (DDP) and was co-hosted by the city of Seoul, the Seoul Design Foundation, and Baobab Partners. It offered a total prize pool of KRW 150 million attracting 417 participants who made up 115 teams.However, although over two months have passed since then, the winners are yet to be paid their prize money. “Baobab Partners initially proposed the SWF2023 event, and they were responsible for gathering the necessary sponsorship funds to run the event,” said a city representative.According to industry sources on Monday, the company’s CEO, Choi Jin-beom, issued a handwritten apology last Friday regarding the incident. “We promised to pay the winners by today, but we were unable to deliver on that promise. We explored multiple avenues, including investors, new contractors, and other assets, but were ultimately unable to secure the funds to do so,” he said. “The narrative that the funds were diverted elsewhere or invested in cryptocurrencies or stocks is untrue,” he added, clarifying that related information was transparently disclosed to the city of Seoul.Baobab Partners’ swift rise raises industry eyebrowsBaobab Partners had previously participated as an event planner at last year’s Blockchain Week in Busan, which turned out to be a success. “We also spoke with the Busan city government, who gave a positive opinion of the company,” the representative added. It was under this context that Seoul entered into a naming rights agreement with Baobab Partners. The agreement stipulated that the company would be in charge of attracting and managing sponsorships, and the prize money and operational costs would be covered by corporate sponsorship funds.Nevertheless, questions have arisen within the industry about Baobab Partners’ short track record and its successive collaborations with public organizations. Baobab Partners is a startup that was founded in May 2021. In November of the same year, the firm signed memoranda of understanding with three blockchain companies during NFT Busan 2021, a large-scale NFT fair held in the southern port city to share the latest blockchain trends. As a result of its efforts, it was listed alongside prominent companies such as Coinone and Onther despite only six months passing since its establishment. Subsequently, Baobab Partners relocated from Seoul to Busan, and the following year, it participated as an event planner at Blockchain Week in Busan.Accumulating allegationsSpeculation suggests that this success was not solely due to Baobab Partners’s capabilities. The company’s CEO is believed to have political connections, according to an anonymous industry insider. Choi denied such claims and stressed that its technical expertise should not be downplayed, citing the fact that Baobab Partners was the first entity in Korea to develop virtual reality (VR) banking technology and had received a KRW 15 billion investment from Finger, a KOSDAQ-listed company.Baobab Partners has also been mired in controversy over supposedly unpaid wages. In response to a claim made by an industry source that many former employees of Baobab Partners have still not received their due wages, a Seoul representative stated that there is no such dispute according to conversations with company representatives, seeking to dispel the dispute. Choi further explained, “We didn’t have wage disputes until last year. The difficulty in paying wages began in January this year due to the failure to execute promised investment funds.”The city said that it is currently conducting legal examinations and looking into necessary measures for two matters involving Baobab Partners, including the handling of hackathon winnings.

Seoul Govt to Hire Blockchain Expert to Enhance Administrative Services for CitizensThe Seoul Metropolitan Government is hiring a blockchain specialist in an effort to bolster its administrative services for citizens, leveraging the power of blockchain technology to provide enhanced and efficient solutions, as per local news outlet Etnews.Photo by Yu Kato on UnsplashRoles and eligibilityThe appointed blockchain specialist will participate in the development and management of blockchain-based administrative systems. The position will also involve facilitating technological cooperation between the public and private sectors, with a focus on integrating blockchain-powered platforms with cutting-edge technologies such as artificial intelligence, big data, and the Internet of Things.Interested candidates have until July 26 to submit their applications, with the successful candidate expected to be revealed in August, following document screening and interviews.To be eligible for the position, applicants must meet one of the following criteria:1. Hold a bachelor’s degree and possess at least one year of experience in related fields.2. Have three or more years of relevant experience.3. Be public servants of rank 8 or higher with a minimum of two years of relevant experience.Eligible candidates must have a proven track record in the development and operation of information systems, blockchains, and non-fungible tokens.Seoul’s blockchain initiativesThe Seoul Metropolitan Government’s current efforts to integrate blockchain technology into its administrative services include the operation of the Seoul Wallet app, a one-stop solution that enables citizens to access their identification, certificates, and credentials. The city government has plans to connect this app with other digital and healthcare platforms to create a fully integrated management system.Seoul has been at the forefront of blockchain adoption in South Korea. In 2020, it became the first Korean city to launch a blockchain-powered labor contract system, aimed at protecting the rights of temporary workers. Additionally, the city has been actively exploring various ways to leverage blockchain for online ID verification services. Such initiatives include a benefits card designed for families with two or more children, offering discounts on public facilities usage.A representative from the city government highlighted their recognition of blockchain as a key technology in the era of Web3. As a result, Seoul is seeking opportunities to introduce and support blockchain-based initiatives within its jurisdiction. The official emphasized the city’s commitment to providing safe and inclusive civil services built on blockchain technology, following a thorough assessment of their potentials and risks.