India’s NPCI Looks to Recruit Blockchain Talent

LG Group Hosts Super Start Day to Promote Innovation and Collaboration in Blockchain and MoreSouth Korean conglomerate LG Group recently hosted its open innovation festival at LG Science Park in Seoul from Thursday to Friday. The festival, dubbed Super Start Day, is an annual event dedicated to discovering and supporting promising startups. Since its inception in 2018, it has welcomed more than 260 startups from 26 countries and over 20,000 participants.Photo by Johannes Plenio on UnsplashForging novel technologiesThis year, 40 startups from various fields, including artificial intelligence (AI), biotechnology, clean technology, and lifestyle, as well as small and medium-sized enterprises (SMEs), showcased their technologies and services while seeking out opportunities for collaboration. Among the participants were companies like Zkrypto, which developed a public blockchain voting system that prevents fraudulent voting; Basgen Bio, which created a drug development platform based on genomic data; and Netspa, which possesses the technology to extract recycled materials from fishing nets.Nine startups supported by LG Group also shared their joint achievements from over the past year. Some noteworthy examples include Ujura Company, which is developing technology to detect and predict the development of diseases in domestic pets based on behavioral data, and We Meet Mobility, which offers AI-based solutions for optimal logistics operations and transportation.Additionally, speakers like Ahn Ikkjin, CEO of Moloco, the first unicorn company in Silicon Valley founded by a Korean, and Kim Dong-Su, CEO of LG Technology Ventures, LG’s corporate venture capital arm in Silicon Valley, shared their insights on global expansion strategies and investment trends.Month-long celebration of innovationLG is set to host more events this month at LG Science Park, including the LG Software Developer Conference from September 14 to 15, aimed at sharing achievements in research and development, as well as Culture Week from September 20 to 22, where LG employees, families, local residents, and industrial experts can interact. These events, along with Super Start Day, are collectively referred to as LG SPARK, which is dedicated to promoting innovation and collaboration across diverse sectors.

In a bid to foster gender diversity and inclusivity within the blockchain industry, cryptocurrency exchange Bitget has committed $10 million to invest in women-led startups in the Web3 and blockchain sector. Blockchain4HerThe announcement, made at the Web3 Hub Davos event on Tuesday, a part of the World Economic Forum 2024, highlights Bitget's initiative in promoting equality in a rapidly advancing sector. Bitget's research reveals a stark gender bias within the blockchain sector, with only 6% of startup funding directed towards female-led projects. Bitget’s Blockchain4Her project has been established as a direct consequence, in order to address this imbalance. Blockchain4Her has been designed to provide crucial support, mentorship and recognition to women in the industry. The initiative will include tailored incubation programs, pitch competitions exclusively for women-founded startups and the Women in Blockchain Summit & Awards, aimed at acknowledging outstanding achievements by women in the blockchain space. Recognizing the need for comprehensive measures, Bitget aims to confront the gender disparity by creating a nurturing environment through these multifaceted efforts. By offering specialized support for female entrepreneurs, the initiative aims to encourage greater involvement and leadership roles for women in the blockchain space.Photo by Shubham Dhage on UnsplashIndustry ambassadorsAs part of the Blockchain4Her program, Bitget plans to invite industry leaders to serve as ambassadors, supporting gender diversity in the blockchain industry. These ambassadors will play a crucial role in advocating, engaging and driving positive changes, fostering an inclusive environment for women in the blockchain sector. Bitget's commitment to addressing gender disparity in the blockchain industry is further underscored by its recent report on Web3 venture capital funding by gender. The report, published on Jan. 11, revealed that less than 7% of VC funding in the industry went to female-led startups, emphasizing the need for comprehensive measures to increase inclusiveness and accessibility for women in the blockchain sphere. The company is itself leading from the front on the issue, with Gracy Chen as managing director, one of the few crypto exchange platforms headed up by a female executive. Blockchain4YouthIt’s not the first time that the company has embarked upon a corporate social responsibility-themed project. It follows Bitget's earlier commitment to nurturing talent through the “Blockchain4Youth” initiative, which was announced in May of last year. The $10 million initiative set out to serve the objective of “empowering and inspiring younger generations to use Web3 and crypto tools to create and engage in a decentralized space.” It focuses on providing courses through Bitget Academy, hosting university lectures on Web3, incubating innovative projects by young entrepreneurs and organizing hackathons for individuals under 30 to identify promising leaders. A by-product of Blockchain4Youth also involved the company commencing to invest in Indian blockchain startups in November. Bitget's Blockchain4Her initiative represents a significant step towards fostering a more equitable blockchain space. By championing inclusion and diversity, Bitget not only contributes to a fairer industry but also supports the sustainability and growth of the broader technology sector. 

Nomura Holdings, Japan's largest brokerage and investment banking company, along with its digital asset arm, Laser Digital, has unveiled a survey indicating a significant shift towards cryptocurrency investment among Japanese investment managers.  54% of investment managers favor cryptoThe survey, conducted in April with over 500 respondents, reveals that 54% of investment managers plan to invest in crypto assets within the next three years, aiming to stabilize their portfolios and mitigate risks through diversification and hedging against inflation. According to the survey, approximately 25% of respondents hold a positive impression of cryptocurrencies, particularly Bitcoin and Ether. Meanwhile, 62% view crypto assets as a viable diversification opportunity. Around half of those that responded indicated an interest in crypto exchange-traded funds (ETFs) while 31% are considering direct investment. This trend follows the Japanese cabinet's February approval of a proposal to include crypto in the list of assets that local investment limited partnerships can acquire or hold. Nomura anticipates a revision to the Limited Partnerships Act later this year to accommodate this change.Photo by Jezael Melgoza on UnsplashNew product development to drive demandThe survey also highlights the primary drivers for future investments in crypto assets. These include the development of a variety of financial products such as exchange-traded funds, investment trusts, staking, lending and other innovative offerings. These developments align with Japanese Prime Minister Fumio Kishida's "new capitalism" economic policy. Within that policy, Kishida outlined that fostering Web3 innovation is a key priority in a keynote address at the WebX conference in Tokyo in 2023. Metaplanet bond issuanceIn a related move, Tokyo-based investment and consulting firm Metaplanet plans to issue 1 billion yen ($6.26 million) worth of bonds to finance its Bitcoin acquisitions. The firm announced on June 24 that its board had approved the bond issuance, with the Bitcoin intended for long-term holding. A separate notice detailed that the bonds would offer an annual rate of 0.5%. Metaplanet appears to be following a business strategy first pioneered by MicroStrategy in the United States. The American business intelligence firm, now focused on Bitcoin development, holds the record for a public company with the most Bitcoin, possessing 226,331 BTC worth $15 billion. It provides an alternative means through which corporations can gain exposure to Bitcoin investment. Metaplanet is likely to fulfill a similar role within the Japanese market, meeting that developing investment need identified among Japanese investment managers in Nomura’s survey. While the Nomura survey findings are largely positive, there were a number of concerns expressed by investment managers also in relation to crypto. Among them were concerns about counterparty risk, regulatory requirements and high asset volatility. However, the report suggests that there is a path through which these concerns can be minimized. The report states: “These hurdles could soon be lowered, as Japan’s digital asset laws and regulations are rapidly being developed, enabling increased engagement from institutional investors in the future.” In December, the Japanese government approved a tax regime revision to exempt corporations from paying tax on unrealized crypto gains if they hold the assets long-term.