In a significant leap forward for the Web3 development community, Singapore-based BuildBear Labs has successfully raised $1.9 million in a fundraising round that promises to revolutionize the way developers build and test decentralized applications (dApps). The round, co-led by industry giants Superscrypt, Tribe Capital, 1kx, and featuring contributions from Iterative, Plug-N-Play, and notable angel investors such as Kris Kaczor and Ken Fromm, marks a pivotal moment in the advancement of Web3 tools and infrastructure.
At the heart of BuildBear Labs' mission is the creation of the world's first Web3-focused Automated and Continuous Testing Engine (ACTE), a tool designed to tackle the unique challenges faced by developers in the burgeoning Web3 landscape. Inspired by successful platforms such as BrowserStack, BuildBear's ACTE goes beyond conventional testing frameworks by offering tailored private testnets for rigorous dApp testing. This innovative feature enables developers to identify and mitigate vulnerabilities before deployment, ensuring a smoother and more secure user experience.
The recent infusion of capital has already led to the upgrade of BuildBear's engine, enhancing its capability to support a higher throughput and improve overall user experience. With over 7,700 sandbox testing environments created and an active retention rate exceeding 35%, BuildBear's growing platform is a testament to its effectiveness and appeal among Web3 developers. Furthermore, the firm's commitment to collaboration extends beyond its platform, working alongside industry leaders to foster a community of knowledge sharing and innovative development within the Web3 sphere.
Source: BNN Breaking
Imaginary Ones, a Web3 startup based in Singapore, was among those that capitalized on the non-fungible token hype, releasing a collection of 3D “bubble character” NFTs in 2022 that was sold out. But as the trend started to decline in 2023, the company said it is expanding its Web3 services into gaming, content, and merchandise.
To that end, Imaginary Ones has raised a fresh round of funding led by Dubai-based crypto investment firm Cypher Capital. Participants in the fundraise include Animoca Brands, ED3N Ventures, and MH Ventures.
While Imaginary Ones did not disclose the funding stage or amount, it said the round was oversubscribed.
“Our Web3 entertainment roadmap brings together gaming, merchandise, and content to create the Imaginary World,” said co-founder Clement Chia. “Imaginary World unites experiences in both the metaverse and in real life, where users play, interact, and build together.”
Source: Tech in Asia
Scientists at Nanyang Technological University (NTU) in Singapore have developed a method for tracking human movement and activity in metaverse environments using Wi-Fi signals.
The research promises to overcome limitations faced by current tracking modalities that rely on body-worn sensors or external cameras. These methods struggle with obstacles and poor lighting conditions and only provide data from specific points on the body.
The NTU team’s solution impacts the ability of Wi-Fi signals to penetrate walls and detect minute movements. The data is then fed into AI, which interprets the signals to model full body motion and activities.
A key obstacle faced by prior efforts was the need for large labeled datasets to train the AI models. To resolve this, the researchers pioneered an unsupervised learning technique named “MaskFi.”
MaskFi allows models to be trained with less data and then iteratively refined until a very high level of accuracy is reached. In testing, the system achieved approximately 97% accuracy in relevant experiments.
Source: Crypto Times
Globally, manufacturers have been exposed to supply chain disruptions by several recent events. These include geopolitical uncertainties, trade wars, semiconductor shortages, and the Covid-19 pandemic. Rising costs and economic uncertainties have also contributed to supply chain disruptions.
To remain competitive and resilient, supply chain managers need to focus on digitalisation and automation, especially to assist in reshoring without significantly impacting margins and prices. Companies should also focus on a convergence of technologies—including artificial intelligence, data analytics, and digital twins—to remodel supply chains to be lean and self-sufficient.
Understanding digital twins in a supply chain
A supply chain digital twin is a data-driven model that mimics a real-world supply chain, allowing for simulation, optimisation, and analysis. It fetches real-world data and models the physical supply chain across sourcing, production, manufacturing, distribution, and logistics, to create a single integrated data model. This data model can be used to simulate, conduct what-if analysis, and provide visibility into operational complexities.
By 2035, supply chains will be fully digitised and automated. The use of digital twins can help predict disruptions, optimise operations, and improve decision-making by providing real-time visibility and insights into operations data, supply chain behaviour, and performance.
Digital twins are now firmly established in supporting urban management. The city state of Singapore is working on a digital twin of its entire nation. In 2011, the Singapore Land Authority (SLA) began developing three-dimensional maps of the nation.
GPS Lands Singapore, which provides services to create content for digital twins, approached SLA, proposing working on a digital twin of the entire nation: “The digital twin displays all of Singapore in a highly detailed 3D representation…to help with asset management and decision-making, including detailed tree and green space management.”
Because of the country’s limited size, urban areas are at a premium, and therefore many infrastructure networks and assets have been moved underground. For that reason, “the SLA is now working on the next stage of the project, a national subsurface digital twin of Singapore”. The benefits of such a digital representation extend to safety improvements and minimising service disruptions when maintaining, repairing, or constructing assets underground.
Meanwhile, Virtual Singapore is “a 3D digital replica of Singapore built on topographical as well as real-time, dynamic data. It will be the country’s authoritative platform that can be used in simulations and virtual tests of new solutions to urban planning problems.”
Source: Computer Weekly
Hong Kong is poised to advance its web3 initiatives, as outlined in the recently released 2024-25 Budget on February 28. In a noteworthy move, Financial Secretary Paul Chan announced the expansion of the digital yuan pilot testing in the city. Members of the public will soon have the opportunity to establish e-CNY wallets, seamlessly integrating them with local payment services. Despite the prevailing attention on the mainland’s e-CNY program, Hong Kong is gearing up for phase two of its homegrown central bank digital currency project based on the Hong Kong dollar.
The budget highlights the imminent launch of phase one of Project mBridge, a cross-border payment service collaboration involving China, Hong Kong, the United Arab Emirates, and Thailand. Set to debut later in 2024, this initiative is positioned to be a trailblazer on the global stage, settling cross-boundary transactions for corporations through the utilization of central bank digital currencies. Financial Secretary Chan emphasizes the significance of this project, marking a major stride in facilitating international transactions using digital currencies.
Financial Secretary Chan acknowledges the city’s commitment to the development of the web3 ecosystem, building on the initiatives proposed in the 2023 budget. The budget report indicates “good progress,” particularly in Hong Kong’s tech startup hub, Cyberport, which now houses over 220 companies focused on crypto and web3 technologies. This surge in the number of companies underscores the growing interest and active participation in the web3 sector within the region.
Hong Kong is steaming ahead with a number of web3 initiatives, according to the city’s 2024-25 Budget, released on February 28.
For starters, the city is set to expand the scope of digital yuan pilot testing.
Financial Secretary Paul Chan said members of the public will be able to set up e-CNY wallets and integrate them with a local payment service.
It’s a quirk in Hong Kong that the mainland’s e-CNY programme seems to get more attention than the city’s homegrown central bank digital currency project based on the Hong Kong dollar.
Nevertheless, Chan said phase two of the pilot programme for e-HKD would commence “soon.”
Meanwhile, phase one of Project mBridge, a cross-border payment service project launched by China, Hong Kong, the United Arab Emirates, and Thailand, is set to launch later in 2024.
In tech startup hub Cyberport alone, there are more than 220 crypto and web3 focused companies.
The HKMA is also set to roll out a “sandbox” for entities interested in issuing stablecoins to conduct trials.
Source: DL News
In a groundbreaking move that could redefine the landscape of the internet as we know it, OKX Ventures has announced its investment in Delphinus Lab, a company at the forefront of developing a trustless computation platform. This investment, part of the pre-A round funding, marks a significant step towards a Web3 environment that is more secure, private, and interconnected. At the heart of Delphinus Lab's innovation is the Zero-Knowledge WebAssembly (zkWASM)-based application rollup platform, named zkWASM Hub, which promises to simplify the integration of web applications into the decentralized web.
Delphinus Lab is not just another name in the ever-expanding universe of blockchain technology. With its focus on developing a zkWASM-based application rollup platform, it aims to revolutionize the way applications are integrated into the Web3 space. The platform features automated proving and batching services for application workloads, along with customizable WASM extensions. This innovation is a beacon of hope for developers looking to migrate web applications into a decentralized environment without the hassle traditionally associated with such a move.
Moreover, the creation of a zkWASM application communication standard within the ZKWASMHUB is a bold step towards fostering interoperability and collaboration among rollup apps across different blockchains. This initiative is critical for the seamless operation of decentralized applications (DApps) in a Web3 ecosystem, where silos can significantly hinder user experience and functionality.
Source: BNN Breaking
A team of Chinese scientists introduced a quantum communication technique that they say could help secure Web 3.0 against the formidable threat of quantum computing.
Their approach, called Long-Distance Free-Space Quantum Secure Direct Communication (LF QSDC), promises to improve data security by enabling encrypted direct messaging without the need for key exchange, a method traditionally vulnerable to quantum attacks.
They add the approach not only enhances security but also aligns with the decentralized ethos of Web 3.0, offering a robust defense in the rapidly evolving digital landscape.
The scientists who published their findings on the pre-print server ArXiv, say the advance addresses a critical concern in the era of quantum computing: the vulnerability of Web 3.0’s cryptographic foundations. As quantum computers become more powerful, they threaten to break the encryption that safeguards digital communication, posing a severe risk to the security and privacy of online interactions.
According to the study, LF QSDC is fundamentally different from and more secure than traditional cryptographic methods, including Quantum Key Distribution (QKD). While QKD focuses on securely exchanging keys between parties, LF QSDC enables the direct transmission of encrypted messages without the need for a key exchange. This method effectively removes a critical vulnerability, as the exchange and management of keys often present opportunities for interception and exploitation by adversaries.
Source: The Quantum Insider
In a bold stride towards the future, Canon Inc. has recently secured a hefty 50% share of grants in Q3 2023 for patents related to the metaverse, showcasing their commitment to innovation in the digital realm. Among these, a standout patent reveals an advanced information processing apparatus aimed at revolutionizing how we interact with virtual environments. This development not only underscores Canon's pioneering spirit but also hints at a transformative shift in our virtual experiences.
The patent in question introduces an intricate system designed to create more immersive and dynamically interactive virtual images. At its heart, the apparatus comprises several critical units: an acquisition unit, a movement unit, a control unit, and a generation unit. Each plays a pivotal role in enhancing the virtual reality experience by allowing users to determine and adjust the positions and orientations of virtual viewpoints and objects seamlessly. What makes this patent particularly intriguing is the way it proposes synchronizing the movement of virtual objects with the user's viewpoint, based on specific conditions, thereby elevating the realism and immersion of virtual environments.
The apparatus detailed in Canon's patent goes beyond traditional virtual reality by incorporating mechanisms for the interaction between virtual and real objects. This includes detecting physical contact with real-world objects and integrating user input from external devices to calculate and adjust the movement of the virtual viewpoint. Such innovations suggest a future where the lines between the virtual and the real blur, offering users experiences that are not just visually immersive but also tactilely engaging. The patent also highlights the introduction of a copying unit for creating duplicates of virtual objects, adding another layer of complexity and interactivity to virtual environments.
Source: BNN Breaking