Cumulus Encrypted Storage System (CESS), a leading blockchain-powered decentralized storage and CDN infrastructure for Web3, has announced a highly successful close to its Series A funding round, having secured $8 million in capital. Notable investors include HTX Venture, Infinity Ventures Crypto, DWF Labs, Mentha Partners, Vespertine Capital , Web3 Foundation, Singchain Investment, 7 O'Clock Capital, SolrDAO, FishDAO, OneBlock+, Winkrypto, and Polkadot Ecology Research Institute.
This significant investment highlights CESS's commitment to creating a secure, efficient, and transparent decentralized value network. The funds will drive technological advancements, expand global operations, and strengthen CESS's position in the decentralized infrastructure sector, empowering data creators and owners in redefining value distribution in data asset circulation. “This funding will enable us to continue our mission of providing the next-gen of global decentralized data services for Web3, which includes support for large-scale commercial use cases that require high-end security, performance, storage, CDN, high-frequency trading and millisecond data retrieval. We are grateful to our investors for their trust and support in our vision, and we look forward to delivering innovative solutions that create value, lower costs, improve outcomes and experiences, and deliver user-focused solutions that are fast, performant, cost-effective, and secure,” said Nicholas Zaldastani, Co-Founder and Chairman of CESS. Source: Yahoo Finance
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Health On Cloud, an innovator in advanced healthcare solutions, is excited to announce the global expansion of its revolutionary metaverse medical consultation platform, CURISALL, along with its medical education platform, MEDTIS. This expansion is scheduled to launch in Kazakhstan, Colombia, and several other Latin American countries in 2024, marking a strategic move that underscores the company's commitment to harnessing metaverse technology for remote medical and educational services.
Mike Dowding, Chief Innovation Officer (CIO) of Health On Cloud, expressed enthusiasm for the initiative, stating, "Leveraging metaverse technology for remote medical and educational services holds tremendous potential, particularly in rural communities of developing countries with limited access to high-quality healthcare services." Health On Cloud is focused on deploying a globally connected Virtual University Hospital consisting of (i) Meta-Versity; and (ii) Cloud Hospital. In line with WHO's vision, Health On Cloud envisions creating a world where no one is excluded from medical services. Source: PR Newswire As 2023 draws to a close, it's an opportune moment to reflect on the most important tech trends in 2023. In my piece, The Top 10 Tech Trends In 2023 Everyone Must Be Ready For, published in Nov 2022, I made predictions about the year ahead. Did these trends materialize as anticipated? Let's delve into a retrospective analysis of my predictions and their real-world implications.
The Metaverse: A Story of Mixed Expectations And Practical Applications I predicted that the metaverse, driven by AR and VR, was to make significant strides in 2023, particularly in workplace environments. While significant investments flowed in from major players like Meta and Microsoft, user adoption didn't soar as high as anticipated. However, the realms of AR and VR found their footing in more grounded applications, particularly in education and training. Notably, in the retail sector, companies began laying the groundwork for a more robust metaverse presence, experimenting with virtual try-ons and interactive shopping experiences. Despite not making the giant leap some anticipated, the metaverse in 2023 made significant strides, laying foundational stones for a future where the physical and digital realms converge more cohesively. Web3's Progress: A Tale Of Blockchain's Steady March I predicted substantial advancements in blockchain technology, with NFTs becoming more practical. 2023's chapter in the story of Web3 and blockchain technology was more of a steady march than a sprint. While the crypto market's volatility cast a shadow over NFTs, blockchain's underlying potential continued to unfold, particularly in decentralized finance. The year wasn’t marked by the explosive growth some predicted, but it was nonetheless a period of foundational advancements, setting the stage for future innovations. Digital And Physical World Convergence: A Fusion Tale I predicted the convergence of digital twins and 3D printing to bridge the digital and physical worlds more seamlessly. The convergence of digital twins and 3D printing in 2023 was a tale of successful fusion, aligning perfectly with predictions. Industries from aerospace to healthcare tapped into the power of digital twins for simulation and testing, while 3D printing broke new ground in material complexity and durability. This narrative underscored the profound implications of bridging the digital and physical worlds, a trend that proved both innovative and practical. Source: Forbes “I can see aspects of how we’re going to implement technology to allow us to fix what I think we can all agree on as those in the fashion industry is a pretty broken system,” Kenneth Loo said in a conversation with FashionUnited on the future possibilities of Web3 and emerging tech. Through such systems, the co-founder and chief executive of the communications company Chapter 2 envisions an industry in which creators can visibly see the benefits of aftermarket and resale value, bolstered by a heightened sense of transparency made possible through a more robust blockchain.
Digital twins replace receipts In contrast, another development Loo is anticipating is the evolution of the ‘digital twin’ – a term that has been coined to reference products that have a blockchain-based presence and therefore exists in both the digital and physical world. He linked the rise of this feature to the over-production of clothing, the increase in knock-offs and the integration of EU regulations, one of which will soon require EU-operating brands to adopt digital passports and, as a result, digital twins. “This technology is going to provide the opportunity to authenticate actual products, utilising these digital twins and, at the same time, infusing those products with a lot more utility,” Loo noted. In his eyes, these utilities can range from pushing forward digital fashion offerings that can be worn in online worlds, to acting as a receipt at certain points in a customer's engagement with the product, replacing the physical element. Source: Fashion United The Benefit Of Digital Twin Technology Is In The Sharing
We know what you're probably thinking: Driving simulators and virtual crash testing have been around for decades. So how is this new? A big part of this technology is the ability to create a digital representation of an object or a system once then reuse it in multiple places. Digital Twin Benefits For Manufacturing All cars are made of parts. Many, many parts. Small parts are combined to form bigger components, which ultimately wind up welded, bolted, adhered, or otherwise joined to create a machine you can reasonably buckle yourself into and drive home. When each of those parts is first created as a digital twin, manufacturers can specify the exact shape, weight, and nature of those individual components. Whether they're crafting those components in-house or sourcing them from a supplier, having that data simplifies the process of figuring out how to physically make the thing. Twinning Software Development Each new generation of vehicle contains far more code than those that preceded it. That complexity is magnified by integrating the disparate systems within a car, like the ECU (electronic control unit), driver assistance systems, and infotainment. Reliably testing all that is an integration nightmare. By creating virtual representations of all those disparate systems, software developers can run their solutions within digital twins. That includes the code at the lowest level, basic stuff that controls ignition timing within the engine for example, all the way up to the highest level, like touchscreens responding to user inputs. Autonomy, Too Testing autonomous cars is problematic because it's impossible to safely replicate every condition a driver might encounter on the road. Even if you could, you'd need to do it repeatedly to verify that each new iteration of your autonomous driver didn't break something that formerly worked. Simulation with digital twins makes that feasible. "When we want to test that our autonomy system correctly handles a particular situation, we want to look at a lot of variations of that situation, which allows us to more fully assess our system's capabilities to handle that situation, and not just one particular iteration," Yongjoon Lee said. He's director of simulation at autonomy startup Zoox. Source: Motortrend A global private investment fund/bank based in the United Arab Emirates (UAE), MADA Capital, announced its partnership with Creta, a massive Web3 metaverse gaming platform, through participation in the Creta Ecosystem growth fund.
MADA Capital, headquartered in the UAE, operates as a major financial institution in private banking, securities, asset management, and investment business in global markets. Notable limited partners (LP) include regional and international sovereign wealth funds, MADA Capital has a track record of successfully managing numerous global venture projects, particularly in key international cities, including the UAE, Saudi Arabia, and Egypt. The company has primarily focused its business on asset management and corporate advisory services. Ever since its establishment, MADA Capital has managed assets of hundreds of millions, led more than 15 IPOs worldwide, and established over 30 funds. Many companies and government entities in the Middle East currently show significant interest in developing the IT and gaming industries and consider it as crucial sectors responsible for shaping the nation’s future. In this environment, Mada Capital has actively participated in the fund at an early stage, being deeply impressed by Creta’s vision and technological prowess, which outshine competitors. In the future, Creta, alongside Mada Capital, will collaboratively lead the advancement of the web3 and gaming metaverse industries in the global market. Together, they aim to grow the fund, discover and support outstanding producers and content, and expand Creta’s ecosystem by fostering cooperation and nurturing technology. Source: Finbold It’s been a pretty bad year for cryptocurrency, even if Bitcoin’s price is soaring once again. There were scandals involving FX and Binance that are still playing out and making everyone cautious about avoiding blockchain scams.
Many have written off blockchain games as an overhyped trend that is coming to its end. Billions of dollars have been invested in such games in the past few years, much to the chagrin of traditionalists in game development and among Western gamers in particular. They think it’s a bunch of scams. But Yat Siu, executive chairman of Animoca Brands, sees this as a “cleanup year,” as he remains one of the biggest believers in blockchain games. In an interview with GamesBeat, Siu said, “We’ve cleaned up a lot of what needed cleaning up this year.” As a result, he sees 2024 as a strong year ahead, with a chance for a phoenix to rise again. Siu has to look on the bright side, as his company has invested in hundreds of blockchain game deals over the years. Source: Venture Beat Chinese venture capital (VC) firm GBA Capital announced a $10 billion pledge to build a Web3 fund during the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference on December 26.
Local news sources state that the GBA Capital Web3 Fund will invest in firms that emphasize virtual reality, the metaverse, and nonfungible tokens to establish Guangdong-Hong Kong-Macao as the global hub for “meta-asset capital.” The chairman of GBA Capital, Haolong Li, announced that to raise awareness of meta-assets, this year’s conference will also “hold meta-asset global tours in Japan, Singapore, Dubai, Silicon Valley, Europe, and other places.” Source: Crypto Times Twyn, India’s only DeepTech enterprise SaaS enabling large manufacturers and OEMs to deploy digital twins for smart manufacturing, today announced it has joined NVIDIA Inception, a program that nurtures startups revolutionizing industries with technological advancements.
Founded by Avi Dahiya in 2021, Twyn offers a platform for large manufacturers and OEMs to custom-build digital twins of their physical assets across multiple factory sites—on the ground, underground, or underwater—as well as across geographies. It simplifies the way decision-makers analyze, engage with, and act on real-time data from physical assets, significantly reducing the time, cost, and resources required for process completion. Twyn leverages NVIDIA’s cutting-edge technologies, including artificial intelligence computing and visual processing, enabling the DeepTech startup to push the boundaries of research and development. The inception program further propels Twyn to be at the forefront of AI computing and digital twin technology, opening new avenues for innovation and growth. The program also provides Twyn with the opportunity to collaborate with industry-leading experts and other AI-driven organizations. Source: CIO News Blockchain technology company PiLab Technology announced on the 28th that it signed a Memorandum of Understanding (MOU) with Mirae Asset Securities.
Under this business agreement, the two companies will conduct joint research and cooperation on the Web3 infrastructure ecosystem, including Web3-based identity authentication, required to respond to the growth of the Web3 financial and token securities market. In addition, they plan to continue to discover areas where both companies can collaborate in the token securities field, while also identifying trends in the Web3 asset management market and conducting joint research on this. Mirae Asset Securities is strengthening its global leadership in related fields by forming a token securities consortium 'Next Finance Initiative' with SK Telecom and Hana Bank and operating a token securities working group that utilizes the global blockchain network. PiLab Technology is determined to accelerate its efforts to expand the Web3 ecosystem into various fields, starting with this business agreement. To this end, they plan to work with Korea Information Certification and Code to jointly develop a Web3 identity authentication service that complies with KYC (Know Your Customer) authentication and travel rules and launch it early next year. In addition, as a blockchain platform company that independently developed a multi-chain usage environment and blockchain automation technology, they plan to focus on providing related solutions so that more Web2 companies and services can smoothly transition to Web3. Park Do-hyun, CEO of PiLab Technology, said, “Through this cooperation, we expect both companies to play a major role in converging blockchain technology and the financial market.” He added, “PiLab Technology will continue to lead the way in making Web3 services easy and public-friendly.” Source: Green Post Korea |