Hello Hedera. Our recent ecosystem highlights include the launch of the HashPack Community Showcase to spotlight Hedera projects and the Hello Future Hackathon, which invites global developers to innovate using Hedera’s technology. Hedera’s new membership in the Institute of International Finance also enhances its role in global financial stability and innovation.
Keep reading to stay informed, and follow the Genfinity website for the latest updates on various projects leveraging Hedera’s technology!
HashPack, in collaboration with Genfinity, has introduced a new initiative called the HashPack Community Showcase. This project aims to celebrate major milestones and updates from different projects within the Hedera ecosystem. Led by May Chan, CEO of HashPack, the initiative highlights achievements and encourages collaboration among Hedera community members. It promises to be a platform for sharing progress and strengthening community ties.
In the recent HashPack AMA, key discussion topics included staking, PACK token inflation, and community rewards. May Chan and Tyler Coté addressed several essential questions. For instance, the community showed keen interest in staking options. Although the team had been quiet about this, May revealed they are actively developing a staking program. They aim to offer a robust solution while ensuring security and maintaining transparency.
Additionally, Tyler Coté discussed the PACK token’s release schedule and inflation dynamics. He clarified that the current circulating supply of PACK tokens has increased, and the inflation rate is tied to user activity. He also elaborated on the PackBack Rewards system and LARI incentives, which aim to boost engagement and token utility. Lastly, May addressed the progress of the CoinMarketCap listing, which is moving forward despite recent delays and new fees. Overall, the AMA reflects HashPack’s commitment to evolving its ecosystem and enhancing user experience.
Hedera joins the Institute of International Finance
Hedera’s recent membership in the Institute of International Finance (IIF) marks a significant milestone for the company and the broader financial industry. The IIF, established in 1983, is a prominent global association with over 400 members from more than 60 countries, encompassing commercial and investment banks, asset managers, and insurance companies. Its mission focuses on supporting the financial industry in risk management, policy advocacy, and sustainable growth. As a new member, Hedera gains access to influential networks, cutting-edge research, global advocacy, and high-impact events, enhancing its role in shaping financial stability and innovation.
Significantly, Hedera’s inclusion in the IIF represents a transformative opportunity for both the company and the financial sector. Known for its high-speed, secure, and scalable distributed ledger technology, Hedera is set to revolutionize financial services. Its participation in the IIF will facilitate advancements in cross-border payments, supply chain tracking, and digital identity solutions. Additionally, Hedera’s commitment to sustainability, including its carbon-negative network and the $100 million Sustainable Impact Fund, aligns with the IIF’s goals. This partnership is expected to drive progress and foster financial stability, leveraging Hedera’s technological prowess alongside the IIF’s global influence.
Hedera’s Hello Future Hackathon
The Hello Future Hackathon is a global event taking place from July 22 to August 20, 2024. Developers of all skill levels can leverage Hedera’s advanced DLT to innovate across various tracks, such as AI, DeFi, and RWA tokenization. Participants will gain hands-on experience, benefit from mentorship, and compete for a share of a $300,000 prize pool, with additional rewards through side quests and a bonus challenge promoting women’s contributions to Web3. Notably, the Hedera Hackathon will drive technological advancements and additionally fosters a diverse and collaborative environment.
Elliptic Enhances Risk Management for Hedera’s Stablecoin Studio Integration
On August 1, Elliptic announced a new integration that enhances support for stablecoins issued through Hedera’s Stablecoin Studio by incorporating it into its holistic risk management solutions. This integration, backed by The HBAR Foundation, adds an extra layer of risk mitigation for issuers by enabling Elliptic’s advanced compliance tools to monitor and analyze stablecoin transactions across the Hedera network.
Stablecoin Studio, a comprehensive SDK, simplifies the issuance and management of stablecoins with features like proof-of-reserve and seamless integration with custody providers. Furthermore, issuers can now leverage Elliptic’s technology to screen and assess risk across various blockchains and assets, further ensuring compliance and security in a rapidly evolving regulatory landscape.
Deloitte has teamed up with Hedera to launch an innovative Environmental and Social Impact (ESI) platform. The platform is designed to change environmental impact measurement for companies aiming for net-zero emissions. Moreover, this partnership combines Deloitte’s expertise in sustainability with Hedera’s blockchain technology to enhance data integrity and transparency in sustainability in many areas. Sustainability segments include entity reporting and addressing challenges like greenwashing and unverifiable claims.
Deloitte, renowned for its commitment to sustainability, will integrate the ESI platform into its broader climate strategies. The platform utilizes Hedera’s Hedera Guardian to provide a transparent, immutable record of environmental data, leveraging low-energy consensus algorithms to minimize blockchain’s carbon footprint. This collaboration aims to set new standards in environmental accountability and support organizations in meeting their sustainability goals with credible, verifiable data.
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