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Abu Dhabi, United Arab Emirates, 10 October 2022 (Global News) — Project makes an impact in MENA region by unlocking better security, transparency and transaction management for government transactions
October 6, 2022. venom Base Registered as the first cryptocurrency foundation in the Abu Dhabi Global Market (ADGM), has a license to operate the blockchain and issue utility tokens.
ADGM An award-winning international financial centre strategically located in the capital of the United Arab Emirates, it is a globally recognised centre for innovation in fintech and financial services.
venom Blockchain is an asynchronous blockchain technology with dynamic sharding, using flexible nodes that adapt to changes in traffic. This leap in blockchain technology provides infinite scalability and higher security guarantees through decentralization.
Blockchain belongs to venom Foundation innovates solutions in three core areas – basic infrastructure, inbound project support, and a developer-friendly platform. In the MENA region, the Foundation focuses on technologies that enable businesses and governments to easily and securely transition to Web3, while managing large transaction flows without increasing latency or network charges.
venom The foundation’s main priority is to develop and support a self-sufficient blockchain ecosystem. The ecosystem will include non-custodial wallet VenomWallet, transparent transaction query tool VenomScan, multi-chain bridge tool VenomBridge, validator staking VenomPools, and a convenient gateway to Venom token VenomGet.
venom Foundation is providing B2B services to government authorities, developers, and companies to help them roll out solutions, including NFT marketplaces, derivatives exchanges, fiat-backed stablecoins, and more.
Subject to relevant regulatory approvals, the Venom Foundation will work with ecosystem participants to ensure that such products are provided in a manner consistent with ADGM regulations.
Abu Dhabi Global Market (ADGM), an international financial centre based in Abu Dhabi, has previously innovated a framework to regulate spot crypto asset activity, including exchanges (MTFs), custodians and other intermediaries in ADGM.
This venom Blockchain is supported by leaders involved in its development. Mustafa Kheriba, Dr. Kai-Uwe Steck and Osman Sultan are members of the Foundation who provide comprehensive support and excellent guidance to the project team. Mr. Kheriba is Executive Chairman of Iceberg Capital and Executive Chairman of VENOMEX, a multilateral trading facility and digital asset custodian.
Dr. Steck is an attorney managing the Pontinova Circle Investment Group and has extensive expertise in the FinTech sector. Mr. Sultan is the Chief Executive Officer of Emirates Integrated Telecommunications Company (du) and a thought leader in connectivity and technology innovation.
The foundation is also supported by a panel of technology thought leaders, including Dr. Peter Knez, former global chief investment officer at BlackRock and founder of Knex Ventures; and Shahal M., founder of Burkhan World, Trinity Hospitality Holdings and CEO of Burtech. Khan.
venom The Foundation’s innovations in blockchain technology will accelerate the adoption of blockchain in real-world use cases, while connecting multiple stakeholders in novel ways. This is in line with the UAE’s blockchain strategy for using blockchain technology for government transactions.
For original news coverage, visit: https://prdistribution.com/spirit/app/preview-press-release.php?token=79tdazuv2ti6ep
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