Abu Dhabi Exchange Releases Cryptocurrency Thought Paper

ADX presented a technical document that defines the standards for the crypto and distributed ledger infrastructure
Abu Dhabi Exchange Releases Cryptocurrency Thought Paper

Abu Dhabi Securities Exchange (ADX), with a turnover of $135 billion, presented a technical document that defines the standards for the crypto and distributed ledger infrastructure.

The exchange’s “thought paper” defines technical and operational standards for the issuance of crypto assets. It can greatly facilitate the financial institutions’ operations that are moving from the issuance of ordinary assets to the issuance of more encrypted ones.

According to ADX’s Executive Director Rashed Al Blooshi, their latest development emerged as a response to the growing Blockchain infrastructure development in the region. He acknowledged that as the transition will move from old to new finance, their regulatory practices would have to be accelerated.

“Financial market infrastructure plays a pivotal role in supporting crypto markets, offering investor protection, preventing market fragmentation, as well as making it possible for financial institutions to provide advanced services in the field of crypto-assets. At ADX, we embrace new and innovative technology and are always looking to capitalize on advances in FinTech; particularly in crypto-assets to optimize the benefits we offer to our investors and stakeholders,” the financier noted.

Digital ledger project’s growth

In Abu Dhabi, there is an increasing number of public and private digital ledger projects in the field of international trade, transport, energy, health, and education. Similar pilot projects are likely to launch their own tokens to attract new investors and prove voting and property rights. At the same time, many of them may be weak and fail after some time. Numerous fallings of such digital projects were the reason for local regulators to pay attention for updating rules since the given unique ways of assets issuing can’t be used in FinTech and DLT areas.

ADX exchange’s “thought paper” was released in cooperation with Central Securities Depositories. It may be the first important step to ensure maximum protection of investors in the regional crypto assets sector developing.

Emirates Securities and Commodities Authority (ESCA), the area’s local regulator, develops its own ICO regulation rules with the support of an unnamed international organization, which is rumored to be the International Securities Service Association, ISSA.

Earlier in October, the regulator spoke about an interest towards introducing initial coin offering (ICO) for capital markets. ADX is currently developing an ICO trading platform for this initiative.


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Blockchain Puzzle Developer Gets $13 mln to Debut Video Game

A famous artist in the bitcoin community decided to launch her own video game. BlockTower Capital Partners and Horizon Digital companies invested in it
Blockchain Puzzle Developer Gets $13 mln to Debut Video Game

One of the most famous artists in the Bitcoin community decided to launch her own video game on the blockchain. The list of Blockade Games Inc.’s startup investors includes such names as BlockTower Capital Partners and Horizon Digital.

With their help, in the first week of November the startup managed to raise $833,000; the total volume of attracted investments reached $13 mln.

Marguerite deCourcelle was firstly and widely known as the creator of clever puzzles that include lines of code containing public and private keys for crypto assets. In particular, the storage of Bitcoins is worth more than $1 mln.

Additionally, the project team consists of artists whose portfolio includes world-famous games such as World of Warcraft and Spider-Man for PlayStation 4.

According to BlockTower Capital managing partner Ari Paul, game developers strive to integrate cryptocurrencies into their products that gamers can use. Assets dubbed non-fungible tokens (NFT) can also be used to strengthen the gaming community.

"I think we'll see a rapid move towards this because we'll see the economics are so beneficial in a straightforward way,” he added.

Crypto rewards?

The first release of the company will be the flagship game Neon District. Blockade Games head Marguerite deCourcelle said their new flagship game will have reward puzzles with Bitcoins wins donated by the Pineapple Fund. The role game Neon District is expected to be presented to the public in May 2019.

“For example, you could have an end-game experience in Neon District as a 2D game, then wake up in an Age of Rust storyline with your asset, and they can maintain some of the qualities they had beyond that trip,” noted deCourcelle

The gameplay will focus on the usefulness of game assets. The game will have a main storyline, and several side cycles to complement its main ecosystem. In addition to the main characters, the Neon District will include some of deCourcelle's trademark puzzles to give users the opportunity to get rewards, tools, or weapons in the NFT.

The game is designed especially for people who know nothing about the industry, so they could open it and get their first crypto experience. At the moment, more than 8 thousand people have become Blockade Games mailing list subscribers.


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