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From Health Care to Mining, Central Asia Stays on the Blockchain Beat

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From Health Care to Mining, Central Asia Stays on the Blockchain Beat

Cryptocurrency and blockchain technology continues to be a global phenomenon, with adoption and utilization cases emerging in almost every corner of the globe. Digital technology has become so popular that it is now a major talking point not only in the financial sector but also in politics and governance.

The seven “-stan” countries of Central and South Asia — Pakistan, Kazakhstan, AfghanistanKyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan — haven’t shied away from the sweeping digital technology phenomenon. Whether it be revitalizing Afghanistan’s healthcare sector with blockchain adoption or introducing a waiver for crypto mining in Kazakhstan, digital technology utilization appears to be gaining a foothold in these countries.

Some stakeholders in these nations argue that more still needs to be done if the region is going to enjoy a similar level of crypto and blockchain commerce as seen in Eastern and Southeast Asia. The following is an overview of some of the notable crypto and blockchain developments in the seven countries.

Pakistan’s government exploring digitization policy

Pakistan’s central bank — the State Bank of Pakistan — banned cryptos in the country. As is the case in India, stakeholders within the local crypto community have sought to overturn the prohibition.

Related: Binance Buyout in India Takes Industry Fearful of Regulation to Hope

Waqir Zaka, a co-founder of TenUp, a blockchain-based venture capital startup, is among the vocal critics of the Pakistani crypto ban. Zaka appeared before the Sindh High Court earlier in the week to argue against the central bank’s ban.

According to local media outlet ProPakistani, the SHC instructed the country’s Federal Investigation Agency to aid the court in understanding cryptocurrencies and come to a reasonably fair judgment on the matter.

In a tweet posted by Zaka on Dec. 5, the high court adjourned the case to Jan. 28, 2020. The TenUp chief also used his appearance in court to report the alleged harassment of crypto miners in Pakistan.

Stepping away from blanket crypto bans, Pakistan’s government is looking to implement robust digitization policies. Back in April 2019, Cointelegraph reported that authorities in the country were set to pursue digitization of core government operations.

Prime Minister Imran Khan inaugurated the Strategic Reform and Implementation Unit — dubbed Digital Pakistan — on Dec. 5, with ex-Google Product chief Tania Ardus at the helm.

Additionally, the federal government enacted a set of rules in April 2019 to govern and license digital currency institutions. The move was part of efforts by the country to comply with Anti-Money Laundering guidelines prescribed by the inter-governmental Financial Action Task Force.

Pakistan is also reportedly eyeing the possibility of creating its own sovereign digital currency. As reported by Cointelegraph earlier in 2019, the State Bank of Pakistan has plans to issue its own national central bank digital currency by 2025.

Draft tax exemption policy for crypto miners in Kazakhstan

As previously reported by Cointelegraph, lawmakers in Kazakhstan are looking to exempt crypto miners from tax obligations. According to a draft law, the lawmakers want cryptocurrency mining to be recognized as a “purely technological process” for tax purposes.

Under this special designation, crypto miners will only be required to pay taxes when they convert their virtual currencies to fiat. The draft policy also seeks to establish crypto mining as a legal and regulated activity within the country.

The proposed tax bill is the latest example of the generally positive stance toward crypto and blockchain exhibited by the Kazakhstani government in recent times. On the matter, Cointelegraph spoke with Madi Saken, senior legislative coordinator at the Blockchain & Data Center Industry Development Association in Kazakhstan, to obtain first-hand details about the bill. In an email to Cointelegraph, Saken explained that the country is not considering levying a capital gain tax on mining activity, explaining:

“However, mining will still be deemed entrepreneurial activity in cases when mining farms offer services to use their computing hardware for digital mining. Mining farms would be taxed by analogy with typical data centers as they receive fiat income under commercial contract alike other data-center services.”

Concerning the legal status of crypto in the country, Saken revealed that the government has no official position regarding digital assets. However, he pointed to the Astana International Financial Center as having created a special regime for cryptos under its own independent legislative prerogative.

The association’s coordinator did reveal to Cointelegraph that the government was considering a draft framework for digital assets. Back in 2018, the country’s central bank called for a ban on crypto trading and mining.

For Saken, crypto and blockchain adoption in Kazakhstan is relatively low, but the NABDC says there are positive signs signaling greater utilization in the country. According to Saken:

“Business adoption of blockchain is relatively low at this stage. However, the biggest national telecom operator Kazakhtelecom JSC has just launched its corporate BAAS (Blockchain as a Service) platform for business, which allows companies and state bodies to create and place blockchain systems on its decentralized platform. The company expects that its product will ease blockchain adoption for business. Besides, there are several startups being developed in Astana Hub and AIFC.”

Saken also said that he believes cryptocurrency adoption is on the horizon, as he observes a positive attitude toward crypto from the national bank: 

“Having initially conservative and adverse position, now National Bank is more prone to be constructive consideration. The government and National Bank are more supportive with regard to mining industry development and cryptocurrency regulation, taking into account FATF recommendations and a need of proper financial monitoring and AML instruments.”

Transforming Afghanistan’s health sector via blockchain adoption

Afghanistan is seeing some real-world application of blockchain technology in areas such as healthcare and urban development. As previously reported by Cointelegraph, the country’s Ministry of Public Health signed a Memorandum of Understanding in November 2019 with blockchain startup, FantomOperations.

The memorandum aims to facilitate the deployment of blockchain-based solutions in the country’s health sector. The major focus of the project is to combat the spread of counterfeit medicines and the digitization of patient and hospital records. In a statement released at the time, the ministry declared:

“The Ministry of Public Health is committed for the institutionalization of electronic government in the health sector and the block-chain technology would help the ministry bring transparency, acceleration and effectiveness in the related affairs.”

Earlier in the year, the United Nations also announced that it would be utilizing blockchain-based solutions to drive Afghanistan’s urban development projects. The move is part of the UN’s “City for All” initiative, with the country expected to become predominantly urban by 2034.

Elsewhere in the region

In Kyrgyzstan, authorities seem to be on the offensive against crypto miners. In September 2019, 45 cryptocurrency mining centers were cut off from the national grid as energy officials accused the mining farms of abnormally high electricity consumption.

Despite the 2014 crypto ban, miners have established a significant presence in Kyrgyzstan, taking advantage of the country’s cheap electricity rates. However, government authorities are reportedly looking for ways to regulate the industry, claiming that crypto mining is yet to be defined under federal law.

While Kazakhstan is considering a reduction to the tax burden on crypto miners, Kyrgyzstan’s Ministry of Economy is set to amend the country’s tax code in preparation for the introduction of cryptocurrency mining taxes. 

The draft law is reportedly considering two approaches to the proposed crypto mining tax regime — levying taxes on income or expenses. Based on the popularity of crypto mining in the country, the tax law could see the government earn close to $4.2 million per year.

In Uzbekistan, the government increased electricity tariffs for crypto miners by 300%. At the time, energy officials said the move was to facilitate a more rational utilization of electrical energy by consumers in the country. Crypto trading remains legalized in the country, with participants enjoying tax breaks. However, foreign traders can only operate in the country if they create a local subsidiary in Uzbekistan.

On the whole, the government of Uzbekistan maintains a positive attitude toward digital technology, especially blockchain. Back in September 2018, the country created Digital Trust — a state blockchain fund dedicated to the utilization of technology in several government projects across sectors like education and healthcare.

Published at Thu, 12 Dec 2019 03:00:00 +0000

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Overview and Market Trends of Crypto Games in 2021

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The number of gamers worldwide is estimated at around 2.6 billion in 2020. The upward trend will add another 125 million by the end of 2021. About half of them hail from the Asia-Pacific region. The crypto gaming scene is representing an increasingly large portion of that number. Crypto games are still a relatively unknown term, at least to the general public, but in 2021 they are expected to explode due to various trends detected in this year. The potential is just too great to be ignored. Ability to reward players and let them trade for real money their in-game items is something a lot of games have tried – mostly unsuccessfully – to achieve in the past. Thanks to blockchain technology, that goal is possible now.

What Is Crypto Gaming?

Crypto games are a relatively new addition to the gaming world. The first games appeared just a few years ago. The main aspect of crypto games is collecting items that rise or fall in value and that can be sold at any time, provided you can find a buyer. One of the first popular crypto games was CryptoKitties. In the game, you can buy a cat and groom it. You can even buy two and breed new kittens. The price goes up and down and you can sell your cats or buy new ones. The most expensive cat ever sold on CryptoKitties reached an astonishing price of $117,000. It was to be expected that the first crypto games would be about cats, but they came in all shapes and flavors. You can collect heroes, monsters, fish, even hamsters. Considering the choice of genres, it is easy to find a game that suits your preferences.

Crypto and iGaming

The iGaming industry is one of the fastest-growing segments of gaming. It is expected to reach a value of 300 billion by 2025. It is no wonder then that a lot of crypto developers are pivoting to it, making their coins iGaming-friendly. 2021 will be huge in terms of using bitcoin for iGaming, judging by some indicators. There is even talk of creating digital coins exclusively for online gambling, although that is far-fetched at the moment. Already established coins, like Bitcoin, Tether, and Ethereum are functioning just fine and are being adopted by more and more online casinos. At this rate, there won’t be an online gambling platform that doesn’t accept them by the end of 2021.

The Trending Platform in 2021

Most crypto games available today are based on the Ethereum blockchain and we don’t see that changing in 2021. Simply put, the Ethereum blockchain is an extremely convenient platform for this kind of apps. IT is readily available, easily modified, and has great tech support to bail out developers when they hit a snag. All these attributes make Ethereum perfect for crypto gaming since the majority of the studios developing games are independent. As such, they can’t afford the muscle power large developers have at their disposal, and having friendly tech support and a platform that can be easily adapted to their needs is crucial. However, this too can change in the upcoming year, but more on that later.

The Developers

As we mentioned earlier, there is only a handful of big names in crypto gaming. Most developers are small indie companies and startups. For the last two or three years, they have been working diligently to create games and in 2021, they are poised to reap the benefits of their hard work. Some of the games, like My Crypto Heroes or Blockchain Cuties, already boast thousands of players and are ready to blow. This will allow their creators to emerge as the first crypto gaming powerhouses on the market. On the other hand, a lot of established studios are eyeing crypto gaming and making plans to join in the fray. They will bring to bear a massive amount of money, influence, and talent, which will affect the segment in a considerable way.

The Benefits of Crypto Gaming

Blockchain technology is on the verge of transforming the Internet. The benefits it offers are huge, but one thing that is slowing its implementation is that most people don’t know enough about it. Crypto games can help with that. By presenting this newfangled technology in a familiar manner – and what is more familiar than gaming – crypto games will allow people to get acquainted with it. This familiarity will make the adoption of all other applications of blockchain that much easier. Even casual gamers, who spend just a few hours weekly playing crypto games will be familiar enough with it that blockchain won’t sound so alien to them. Crypto games will help the world adjust to blockchain in preparation for its wide application.

Crypto Games That Will Mark 2021

Predicting which games will be huge in 2021 can be ungrateful, but we will give it a try. One of our favorites is Forgotten Artifacts. It appeals to our Dr. Indiana Jones fantasies, as it lets you collect various items and artifacts around the game world. The game is still in beta and one limitation is that it can only be played with an Enjin wallet. My Crypto Heroes is another game that shows tremendous potential. Based on Japanese mythology, it allows you to collect various heroes and train them to add new characteristics and increase their value. For our final recommendation, we have chosen Blockchain Cuties. Think of it as Tamagotchi, but with cute monsters instead. You can collect them, breed them, and train them to increase their skill in battle.

 

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Zumo launches smart portfolio feature to view and manage overall crypto assets

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  • Zumo Smartfolio allows users to clearly access the current and historical value of their digital currencies

 

  • The feature, included in the app’s 2.13 version, also provides insights into possible exchange opportunities to make a profit

 

Edinburgh, UK – 21 December 2020.- Zumo, the digital wallet and payments platform, has launched Zumo Smartfolio, the latest of the app’s innovative features enabling users to view and manage their overall crypto assets and track the relative position of each of their exchanges in a simple and intuitive way.

The introduction of Zumo Smartfolio in the 2.13 version of the app allows users to access the current and historical value of their exchanges, as well as to see how much gain, or loss, they have made on them over time. The new feature includes a smart portfolio score calculated by matching a user’s buying positions with their sales, providing insights into possible exchange opportunities that could make them profit.

In addition, Zumo Smartfolio has been designed to ensure users can view their data in an intuitive way through interactive pie and line graphs. Users can set the time frame of their Smartfolio to see how their asset values have changed with one day, one week, one month, three months, and all-inclusive timeframes.

Paul Roach, chief product officer of Zumo, said: “By offering Zumo users this feature, we make it even easier for them to take control of their own funds and become responsible smart money-savers, investors or traders. Or even all three.

“Zumo Smartfolio is the latest of a series of innovative features we are launching in the next few months. Users will soon be able to view and download their entire exchange history, as well as their associated Smartfolio data, and spend cryptocurrency alongside traditional money in everyday situations with the upcoming Zumo convertible debit card.”

Zumo App was launched in the UK to make the benefits of blockchain and cryptocurrencies more accessible to everyone by offering users the chance to buy, sell, spend, and send both fiat and cryptocurrencies. The launch of Zumo version 2.12 in November introduced Exchange Price Alerts, a feature that allows users to set up price alerts, notifying them when the price of Bitcoin or Ether reaches a certain level.

 

NOTES TO EDITORS

 

About Zumo

Founded in Edinburgh in 2018 by experienced entrepreneurs Paul Roach and Nick Jones, Zumo’s fully decentralized, patent-pending, HD wallet infrastructure is available direct to consumers through Zumo App and to businesses through ZumoKit (our SDK) and enterprise partnership solutions in the developing world.

 

Zumo is a purpose-driven fintech business with transparency and financial inclusion at the core of our values. We’re on a mission to bring the benefits of decentralization, digital assets, and blockchain technology to ordinary people, everywhere. Our platform enables users to safely store, send, spend, and exchange digital money anywhere in the world easily and cheaply from a mobile device. We do this in the fastest, most transparent, and secure way possible. Our core technology is patent-pending and massively differentiated, giving us the potential to create a world-leading position for a British company, whilst making a big contribution to financial inclusion at a time of the global crisis caused by Covid-19.

 

For more information

Scott Reid

Scott.reid@charlottestpartners.co.uk

Mob +44 7912 483423

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Beyond Limits to Expand Industrial AI in Energy with Nvidia

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LOS ANGELES, CA – December 16, 2020 – Beyond Limits, an industrial and enterprise-grade AI technology company built for the most demanding sectors, today announced it is working with NVIDIA to advance its initiative for bringing digital transformation to the energy sector.

Beyond Limits will collaborate with NVIDIA experts on joint go-to-market strategies for Beyond Limits’ products and solutions in the energy sector. The company will also take advantage of NVIDIA technical support and GPU-optimized AI software such as containers, models, and application frameworks from the NVIDIA NGC catalog to improve the performance and efficiency of its software development cycle.

“AI has the potential to make a major impact on problems facing the heart of the global energy business, but the technology requires high levels of computing power to operate on the level and scale required by many of today’s global producers,” said AJ Abdallat, CEO of Beyond Limits. “That’s why we’re so excited to collaborate with NVIDIA, a leading provider of AI computing platforms. With NVIDIA technology support and expertise, Beyond Limits is better positioned to offer faster, more intelligent, and efficient AI-based solutions for maximizing energy production and profitability.”

Breakthroughs in novel high-performance AI solutions are projected to have significant impacts throughout the energy industry. One key challenge facing the upstream oil and gas sector includes the resource requirement for optimizing well deployments, especially when data on a region’s geological properties is highly uncertain. To overcome this problem, Beyond Limits developed a novel deep reinforcement learning (DRL) framework trained using NVIDIA A100 Tensor Core GPUs, capable of running 167,000 complex scenario simulations in 36 hours. Following initial tests, the DRL framework yielded a 208% increase in NPV value by predicting and recommending well placements, based on the number of actions explored and the expected financial return from reservoir production over time.

“The NVIDIA A100 offers the performance and reliability required to meet the demands of the modern-day energy sector,” said Marc Spieler, Global Energy Director at NVIDIA. “The ability to process hundreds of thousands of AI simulations in real-time provides the insight required for Beyond Limits to develop scalable applications that advance energy technologies.”

Beyond Limits Cognitive AI applies human-like reasoning to solve problems, combining encoded human knowledge with machine learning techniques and allowing systems to adapt and continue to operate even when data is in short supply or uncertain. As a result, Beyond Limits’ customers are able to elevate operational insights, improve operating conditions, enhance performance at every level, and ultimately increase profits. For more information, please visit https://www.beyond.ai/solutions/beyond-energy.

About Beyond Limits

Beyond Limits is an industrial and enterprise-grade artificial intelligence company built for the most demanding sectors including energy, utilities, and healthcare.

Beyond traditional artificial intelligence, Beyond Limits’ unique Cognitive AI technology combines numeric techniques like machine learning with knowledge-based reasoning to produce actionable intelligence. Customers implement Beyond Limits AI to boost operational insights, improve operating conditions, enhance performance at every level, and ultimately increase profits as a result.

Founded in 2014, Beyond Limits leverages a significant investment portfolio of advanced technology developed at Caltech’s Jet Propulsion Laboratory for NASA space missions. The company was recently honored by CB Insights on their 2020 List of Top AI 100 most innovative artificial intelligence startups and by Frost & Sullivan for their North American Technology Innovation Award.


For more information, please visit www.beyond.ai.

Contact Information:
Ed Cruz

LEWIS for Beyond Limits

619-308-5245

beyondlimitspr@teamlewis.com

 

 

 

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7 Ways to Skyrocket Business Growth Using Blockchain

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Every business owner is looking for ways to expand their market reach and boost their revenue generation. Luckily, technological advancements are providing new strategies that can set them apart from competitors in the market.

Blockchain technology is one of those fresh strategies that is quickly transforming the business realm. This technology stores transaction in an electronic register (database) in the form of blocks, where they cannot be altered in any shape or form. People only associate Blockchain technology with cryptocurrencies, misunderstanding that it is just a branch. This article highlights how your business can benefit by adopting the path of Blockchain technology.

Here are 7 ways to skyrocket your business growth using Blockchain:

1.    Helps Build Trust with Customers

Many businesses fear that changing up strategies can be detrimental to their success. But the truth is that if businesses want to stay relevant in the long-run, then they need to embrace new trends and technologies.

This fear is often associated with Blockchain technology as it is relatively new compared to more traditional systems. But leveraging Blockchain can help companies unlock unearthed potential and improve their audience reach. The best way to get started is by showing existing customers how this technology can offer a lot of advantages, the most important being increased confidentiality.

Businesses that aren’t ready to accept this change will get left behind, so now’s your chance to make the shift.

2.    Adds Ease In Employing Reliable Staff

Businesses need to have a cooperative and committing staff to be able to increase their business’s development because “team-work makes the dream work.”

However, it requires a lot of time and research to be able to recruit employees that are dedicated enough. Blockchain can ease that burden and does the job quickly.

Most candidates will add information in their CVs that might not be accurate; Blockchain can allow you to legally have access to all their personal records, like academic and past employment. This way, you can check the legitimacy of their aptitude and be able to recruit the most talented.

Hence, this method can help you hire the staff that will help you reach your goals in your business and gain success.

3.    Prevents Irrelevant Ads

Online advertisement has been around for a very long time. They can’t be taken down or get removed as a lot of money has been spent on them. How many times have we been interrupted by ads while browsing the web for something? Too many! Blockchain can play a major part in eliminating the amount of spammy content we’re subjected to while browsing. Since ads cannot be removed from the internet, Blockchain gives clients the liberty to choose what kind of ads they would like to see while surfing the net. This way, the person who creates those ads can also benefit from this by gaining qualified traffic and having more exposure.

4.    Makes Online Transactions Secure And Confidential

Most people worry about their personal information being compromised or getting hacked when performing online transactions. However, the Blockchain prevents that from happening.

It makes sure that all the weak points are fixed so that it cannot be tampered with or hacked. It allows you to perform online transactions on the internet without needing to use payment processors like PayPal, Bank, Credit Card, etc.

It also ensures that a customer’s previous transactions can’t be viewed unless it’s someone who is a relative or involved with the customer. For example, a carpet cleaning company leverages Blockchain technology to aid customers in conducting anonymous online transactions, eliminating all kinds of additional charges which are involved when using traditional payment methods. This will definitely act as a draw to those tech-savvy audiences that are keen to shop online without leaving any traceable tracks behind.

5.    Improved Auditing

The Blockchain serves as a balance sheet to document transactions and check if they are efficient and authentic. The process of evaluating recorded transactions to check if it is precise, applicable, and dependable is known as an audit.

For example, instead of asking third parties to send confirmation statements, auditors can easily validate transactions by using free Blockchain ledgers online.

6.    Easy to Raise Funds

There used to be a time where you would need to request a loan from a bank to be able to fund your business, but now the times have changed drastically. Now you can find multiple ways to fund your business.

ICO (Initial Coin Offering) has become the most well-known and admired way to raise capital for your business venture. It can also be known as a token sale. Investors are offered a token in the form of cryptocurrency in exchange for real money or any other digital currency. This new methodology helps to raise funds as it offers some form of value to the investor.

7.    Successful Marketing Campaign

Companies depend on data related to consumer interest’s drive better marketing. Market research is another area where Blockchain technology can help third-party companies to obtain actionable insights. There have been some notable use cases of Blockchain that are empowering digital marketers to build better relationships with customers. This is known as Blockchain Marketing.

Since Blockchain requires no middleman, there is an emphasis on consumer data confidentiality. And the data is owned by the customer, so they’re able to share it willingly with the advertising platform. Once the data is provided, marketers can direct more personalized campaigns towards specified audiences, so there are higher conversions. Moving forward, we are more likely to see this form of digital advertising being leveraged by companies.

Conclusion – Using Blockchain the Smart Way

If you are planning to upgrade your business through the implementation of Blockchain, it is advised to keep in touch with a legitimate Blockchain development firm. This technology has just entered the phase of implementation, with research being conducted to discover its range of applications. With little knowledge available about its hidden challenges, it will be tough to navigate obstacles due to lack of experience. But with its immense potential, it would be foolish not to harness the power of this technology.


Source: Shaheryar Sadiq. Shaheryar provides ghostwriting and copywriting services. His educational background in the technical field and business studies helps him in tackling topics ranging from career and business productivity to web development and digital marketing.

 

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