Press Release
Achieve the secret transaction of digital currency, Red Capital builds PAP decentralized electronic cashier’s check system
How long did the openness and transparency of the blockchain become its own pain point? The blockchain technology that changes the world combines distributed ledgers, peer-to-peer networks, and consensus mechanisms. It has the characteristics of decentralization, anonymity, non-tamperability, and encrypted operations. However, the current mainstream blockchain adopts an open and transparent ledger. Anyone can query the total amount of funds and fund relevance of each address, which is extremely easy to be monitored, and there are programs on the market to monitor specific addresses and transactions, although the addresses have Anonymity, but most digital currency exchanges need to complete real-name verification, so as long as the digital currency enters a centralized exchange or wallet, there is a high probability that the private information of the digital asset owner can be found.
There are hundreds of billions of dollars of digital currency circulating in the market every day, and these transactions are recorded on an open and transparent blockchain ledger. Any user can find it on it, whether it is account balance, transaction records, and capital flow. under the sun. The application of digital currency is an inevitable trend. Imagine that you use digital currency to buy goods in the store in the future. When you pay to the store, the store will know how much money is in your wallet, where the money comes from, and where the money will go in the future. Although the characteristics of openness and transparency help regulatory agencies to conduct supervision, it is a big challenge for user privacy and security. As the number of users and the utilization rate of digital assets continue to increase, the demand for asset security, privacy and stability has formed a market. The pain point is that it needs to be reformed by new technology.
The current “hidden coins” are all built on their own blockchains, and their own digital currency transactions must be used to achieve the effect of concealment, which does not meet market needs. Such as DASH Dash, XMR Monero and ZEC, the market for these hidden coins is not very hot. Most users still use Bitcoin BTC, Ethereum ETH, TEDA USDT or issued based on ERC-20 specifications. Digital currency.
Red Capital and PAP Labs have developed a solution that can be applied to mainstream digital currencies and can achieve decentralization, security and concealment-the “decentralized electronic cashier’s check system”, which is expected to be in the hundreds of billions of dollars. The asset trading market occupies a place and contributes to the implementation of digital currency to solve the privacy and security pain points of future physical transactions.
The decentralized electronic cashier’s check system PAP SYSTEM , named after privacy and protection , is a set of decentralized “electronic cashier’s check protocol”, built on Ethereum In the smart contract, the code is completely open, and the “indefinite bearer electronic promissory note” that does not require a third-party trust basis, adopts the “zero-knowledge concise non-interactive knowledge argumentation” (zk-SNARK) and a mixed data structure, and at the same time guarantees the holding of the promissory note Some of the anonymity, privacy of message transmission, and privacy of data structure provide the most secure hidden transactions to ensure that the platform’s core data information is safe and correct. Even big data trackers cannot track transactions.
Using Zero Knowledge Proof Technology Zero Knowledge Proof Zero Knowledge Proof
is an encryption protocol that allows the prover to confirm the authenticity of the statement to the verifier without revealing any information about the proven message to the verifier. The simplified non-interactive proof of knowledge (zk-SNARK) algorithm in the zero-knowledge proof can be used to prove the declaration of private data, anonymous authentication, anonymous payment and outsourcing calculations, so in digital currency transactions, the availability of funds for user transactions can be checked , Without revealing the identity of the user and how much money is in his account to network participants, so it is very suitable for hiding the amount and flow of digital assets of the user.
If the mixed data structure
only uses zero-knowledge proof of zk-SNARK, it cannot achieve true on-chain concealment, because the data structure of the smart contract is public. If a single transaction is separately coded and recorded in the smart contract, then Just checking the field changes can connect the depositor and the proposer. The PAP system has joined the hybrid collection technology. Anyone who deposits into the contract to generate an electronic promissory note will be added to a growing data structure, and this structure is protected by encrypted calculations, and only the key of a certain promissory note is known. People who use zk-SNARK to send the encrypted key into the contract can verify that the key is indeed listed in the data structure. The entire process, including the key and the data structure, will not be completely encrypted, so there is no way to know After all, the key belongs to which depositor.
The PAP system supports mainstream Ethereum wallets (Metamask, imtoekn) and mainstream digital currencies (Ether, USDT, and ERC-20 digital currencies). Users deposit digital currencies into the PAP system, and a set of encrypted electronic currencies will be generated at this time. The promissory note, when you want to retrieve the digital currency, you can use the group of promissory notes to redeem it to any address in the PAP system. The process is fully encrypted and protected.
- Figure: PAP decentralized electronic cashier’s check logic
The PAP system collects a handling fee of 0.2% of the promissory note value as income for each service, and creates an exclusive token economy, issuing PAP Token secret coins, and when issuing electronic promissory notes, users can obtain PAP Token secret coins as rewards. PAP can be pledged. Based on the spirit of the sharing economy, the fee income will be proportionally distributed to all users who pledge PAP Token. In addition to the pledge, it can also be taken out at will. Users who hold PAP can participate in community governance, and can vote on related governance parameters, including but not limited to currency denominations, number of rights, handling fees, profit sharing ratio, or vote for new ERC-20 specification currencies to be listed.
Red Capital took the lead in supporting the PAP decentralized electronic cashier’s check system. It is the only company that opens up public participation and shares profits, solves the pain points of digital currency payment and creates a new era of digital currency transactions.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
PIONEERING PARTNERSHIP: KRAATZ ENGINEERING AND UNAM FORGE STRATEGIC ALLIANCE TO BRIDGE SKILLS GAP
WALVIS BAY, NAMIBIA, 02 MAY 2024 – Kraatz Engineering, a subsidiary of the Ohlthaver & List (O&L) Group, is thrilled to announce the signing of a Memorandum of Understanding (MoU) that is leading the way in a new venture with the University of Namibia (UNAM) and the Welding Association of Namibia. This strategic alliance is set to revolutionize the engineering sector by enhancing the talent pipeline through a synergistic approach that integrates hands-on training within academia, aligns educational curricula with industry requirements, and propels innovation through collaborative research endeavours.
The joint initiative is aimed at narrowing the skills gap prevalent in the Namibian engineering industry. By leveraging the strengths of each partner, the MoU will create a seamless pathway from education to employment, ensuring graduates are not only job-ready but also equipped to contribute to the advancement of local industry through innovation and best practices.
“Kraatz and O&L’s commitment to nurturing local talent will see students gaining invaluable, on-the-job experience through structured internships and job attachments. UNAM’s rich academic environment will be enriched by real-world industry insights, enhancing their reputation as a cradle of future industry leaders, while the broader engineering sector will benefit from a workforce that is educated, innovative, and aligned with the needs of industry.”, states Cameron Kali, Talent Acquisition Specialist at O&L.
Prof. Kenneth Matengu vice chancellor of UNAM and Frank Kernstock (MD) of Kraatz Engineering at the signing of the MOU in Walvisbay.
The MoU outlines specific programs that include:
- Job shadowing and internships for hands-on experience.
- Utilization of state-of-the-art facilities and professional equipment.
- Joint research projects aimed at industry innovation.
- Academic and industry information exchange forums.
These programs are designed to bridge theoretical knowledge with practical skills, providing a holistic educational experience for students.
The anticipated outcomes of this collaboration are multifaceted:
- A significant reduction in the skills gap within the Namibian engineering industry.
- An increase in job creation, particularly for the youth.
- The establishment of Namibia as a hub of industry innovation and progress.
Students and academics eager to take part in this trailblazing initiative are encouraged to reach out to their respective institutional representatives for criteria and application processes.
This partnership embodies the long-term vision of creating a sustainable and self- sufficient local industry that is competitive on a global scale. It aligns with national goals for education and industry development and promises to catalyse the economic and social upliftment of the Namibian society. Prof. Kenneth Matengu, UNAM’s Vice-chancellor, has endorsed this partnership, recognizing it as a pivotal step towards an inter-connected and progressive future for Namibia. “This MoU creates opportunities to collaborate in overall education of our engineering students but more specifically in student placement, in research and in R&D support. This framework advances the mutual interests of the parties especially in the development of welding engineering education in Namibia, which UNAM will begin offering soon. UNAM is extremely pleased to partner with KRAATZ of the O&L group and looks forward to working with O&L in expanding industry activities and supporting emerging businesses in the future.”, stated Prof. Kenneth Matengu, Vice Chancellor of the University of Namibia.
Frank Kernstock, MD of Kraatz Engineering, adds, “Internship and attachment programs are critical in crafting a robust talent pipeline. At O&L and Kraatz, we envision a sustainable future where Namibians are at the forefront of industry innovation and therefore, we are committed to this journey, alongside UNAM and the Welding Association, in creating and enhancing life locally. This partnership is more than a MoU; it is a promise to the future generations of Namibia, ensuring they have the tools, skills, and opportunities to build a brighter, more innovative future for all. This is authentically who we are, what we care about and for the future we are passionate about.”
Media Contact
Organization: The Ohlthaver & List (O&L) Group
Contact Person: Roux-ché Locke
Website: https://www.ol.na
Email: Send Email
Contact Number: +264612075207
Address: Alexander Forbes House, 7th Floor,
Address 2: South Block, 22-33 Fidel Castro Street, Windhoek, Namibia
City: Windhoek
State: Khomas
Country: Namibia
Release Id: 03052411669
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Reskilling and Upskilling for the AI Age: Dee Agarwal’s Advice for Staying Ahead of the Curve
In the AI age, Dee Agarwal advocates for embracing change by continuously reskilling and upskilling. His advice emphasizes self-assessment, cultivating a growth mindset, focusing on human-centric skills, and embracing lifelong learning to thrive in the evolving landscape.
Atlanta, GA, 3rd May 2024, ZEX PR WIRE, The artificial intelligence (AI) revolution is transforming industries at an unprecedented pace. While AI automates routine tasks, it also creates a demand for a new breed of workforce – one equipped with the skills to collaborate effectively with intelligent machines and navigate this evolving landscape. Deepak (Dee) Agarwal, an experienced C-Suite executive, and an advocate for continuous learning, offers valuable insights on how individuals can thrive in the AI age through reskilling and upskilling.
“The key to success in the AI age isn’t fearing change, but embracing it,” says Dee Agarwal. “AI presents a tremendous opportunity to augment human capabilities and drive innovation. The future belongs to those who are willing to learn, adapt, and continuously develop their skillsets.”
Identifying Skill Gaps and Building on Strengths
The first step towards reskilling for the AI age involves self-evaluation. Dee Agarwal emphasizes the importance of understanding your current skillset and identifying areas for improvement. “Take stock of your strengths and weaknesses,” he advises. “What are the technical skills you possess? Do you have a strong foundation in data analysis or programming? Are you comfortable working with complex systems?”
Dee Agarwal suggests exploring online resources and industry reports to identify in-demand skills for your specific field. “Look for opportunities to bridge skill gaps through online courses, boot camps, or even certifications offered by your employer,” he says. “Remember, lifelong learning is no longer a luxury, it’s a necessity.”
Developing a Growth Mindset
Beyond acquiring new technical skills, Dee Agarwal emphasizes the importance of cultivating a growth mindset. “People with a growth mindset believe that their talents and abilities can be developed through hard work and dedication,” he explains. “This optimistic outlook is crucial for embracing challenges and persisting through setbacks, which are inevitable when learning new skills.”
Dee Agarwal suggests adopting a learning-oriented approach to work. “Don’t shy away from taking on challenging projects that push you outside your comfort zone,” he says. “View every opportunity as a chance to learn and grow. Seek out mentors who can guide you and provide valuable feedback.”
Focusing on Human-Centric Skills
While technical skills are essential, Dee Agarwal highlights the enduring value of human-centric skills in the AI age. “AI excels at tasks that are repetitive and rule-based,” he explains. “However, it lacks the creativity, critical thinking, and emotional intelligence that are hallmarks of human expertise.”
Driving home this idea, Dee Agarwal emphasizes the importance of honing communication, collaboration, and problem-solving skills. “Effective communication is vital for working with diverse teams and stakeholders,” he says. “Collaboration allows us to leverage the collective intelligence of humans and machines, and strong problem-solving skills are critical for navigating complex situations and finding innovative solutions.”
Dee Agarwal reminds us that it takes years to teach people how to act with any sort of emotional intelligence and creativity, and computers simply don’t interact with people on an emotional level to have those learning experiences.
Embracing Lifelong Learning
The pace of technological change dictates that reskilling and upskilling are not one-time events, but rather ongoing processes. Dee Agarwal encourages individuals to develop a passion for lifelong learning. “Stay curious, explore new ideas, and keep yourself updated on the latest technological advancements,” he advises. “There are countless resources available online and in your community to fuel your learning journey.”
Building a Future-Proof Career
By embracing reskilling and upskilling, individuals can position themselves for success in the AI age. Here are some key takeaways from Dee Agarwal’s advice:
-
Self-assessment: Regularly evaluate your strengths and weaknesses to identify areas for improvement.
-
Identify in-demand skills: Research your industry and pinpoint the skills employers are seeking.
-
Develop a growth mindset: Believe in your ability to learn and grow, and view challenges as opportunities.
-
Focus on human-centric skills: Hone your communication, collaboration, and problem-solving abilities.
-
Embrace lifelong learning: Cultivate a passion for learning and stay updated on the latest advancements.
“The AI age presents both challenges and opportunities,” concludes Dee Agarwal. “By embracing continuous learning and developing a future-proof skillset, you can thrive in this dynamic environment and contribute meaningfully to the ever-evolving world.”
As AI continues to stretch into more facets of daily life, Dee Agarwal’s guidance will become increasingly relevant for those aiming to stay ahead of the curve.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
FinTech Funding Continues to Surge as Second Edition of Dubai FinTech Summit Commences
- Dubai FinTech Summit to take place 6 – 7 May at Madinat Jumeirah.
- 2nd edition of the summit will bring together over 8,000 decision-makers, over 300 thought leaders across five stages and more than 200 exhibitors showcasing cutting-edge technologies.
- FinTech landscape is booming with over 800 FinTech start-ups worth USD 15.5bn.
Dubai, UAE, 3rd May 2024, ZEX PR WIRE, For the second consecutive year, Dubai will remain in the spotlight as it hosts the second edition of Dubai FinTech Summit, under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE and President of DIFC, which is set to take place on 6-7 May at Madinat Jumeirah.
Organised by Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, the Summit will bring together 8,000 decision-makers, over 300 thought leaders and more than 200 exhibitors to discuss the latest innovations and challenges and showcase cutting-edge technologies.
The global FinTech sector is rapidly growing and is predicted to be valued at USD 608bn globally by 2029, according to Mordor Intelligence, a market intelligence and advisory firm. Bucking the downward global market trend, the MENA FinTech market is expected to register a CAGR of over eight per cent during the period 2024 to 2029.
Dubai FinTech Summit will offer a platform for start-ups, investors and industry leaders to connect and capitalise on the growing FinTech market in the region and beyond. The MENA region’s FinTech start-up and venture capital landscape is booming, with over 800 FinTech start-ups worth USD15.5 bn, according to data by dealroom.co. Reflecting the ongoing transformation in the financial sector driven by Innovation, Inclusion, and Impact, the key themes this year will be Finance Renaissance, Ecofinance and Impact, Investment Vanguard, Regulatory Frameworks, Global Financial Dynamics and FinTech 2.0.
Mohammad Alblooshi, CEO at DIFC Innovation Hub, said: “Nearly 60 per cent of all FinTech companies in the GCC are currently based in Dubai. With the industry growing at an unprecedented rate, it is crucial for stakeholders to gather and discuss the challenges and opportunities that lie ahead. The Dubai FinTech Summit will bring together the most prominent figures in the industry, with an agenda that is aimed at driving innovation, inclusivity, and growth for all.”
With an impressive line-up of distinguished local and international speakers, the Dubai FinTech Summit will host a series of panel discussions and fireside chats. More than 20 governors of financial institutions will attend the summit this year, amongst them, H.E. Essa Kazim, Governor, DIFC, UAE; H.E. Fahad M. Alturki, Ph.D. Director General Chairman of the Board, Arab Monetary Fund, H.E. Dr. György H Matolcsy, Governor, Magyar Nemzeti Bank, The Central Bank of Hungary; will participate in discussions during the two-day event. Nic Dreckman, CEO of Bank Julius Baer & Co.; Yie-Hsin Hung, President & CEO of State Street Global Advisors, along with many other global industry leaders will also be participating in the various sessions planned for the Summit. Notable local speakers include H.E. Abdullah bin Touq Al Marri, Cabinet Member & UAE Minister of Economy; H.E. Helal Saeed Al Marri, Director General, Department of Economy and Tourism, Dubai; H.E. Salem Humaid Al Marri, Director General, Mohammed Bin Rashid Space Centre, UAE; and H.E. Faisal Belhoul, Vice Chairman of the Dubai Chamber, Chairman of J&F Holding.
A key highlight of the Dubai FinTech Summit will be the Grand Finale of the FinTech World Cup (FWC). The champions of the FinTech World Cup will be announced on Day 2 of the summit with the winners securing an investment of up to USD 1 million. The competition is a growth-enabling initiative by DFS designed to encourage cross-border collaboration and stellar innovation, pivotal to transforming the global FinTech sector.
In line with the D33 Agenda to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.
The inaugural Dubai FinTech Summit attracted over 5,000 C-suite leaders from over 90 countries including north of 1,000 investors and more than 150 speakers. Over 20 Memorandums of Understanding were signed with global financial leaders during the Summit.
The 2nd edition of the Dubai FinTech Summit is supported by:
Founding Partner & Co-Host – VISA
Founding Partner & Powered by – e&
Founding Partner & Premium Banking Partner – Emirates NBD
Founding Partner & Strategic Banking Partner – Commercial Bank of Dubai
Powered By – Dyna.Ai
Strategic Venture Partner – SC Ventures
Lead Sponsor – Finvasia
Country Pavilion Partner – Seoul Government
Diamond Sponsor – Mashreq
Platinum Sponsors – Ripple, Deloitte, Pay10, Nasdaq, Mastercard, Bitpanda
Official English News Partner – The National
Arabic Broadcast Partner – Sky News Arabia
Arabic Business News Media Partner – CNN Business Arabic
Editorial Partner – Bloomberg
Regional Business Media Partner – Asharq Bloomberg
Business Broadcast Partner – CNBC Arabia
Official Radio Partner – Dubai Eye 103.8
Ecosystem Partner – Entrepreneur Middle East
Main Media Partner – Emirates News Agency – WAM
Official Newspaper Partner – The FinTech Times
Official Business News Partner – CITY A.M.
Official Magazine Partner – Finance World Magazine
Official Media Partners – Arabian Business, Finance Middle East
Official Digital Magazine Partner – RASMAL
Official Content Distribution Partner – ZEX PR Wire
Official OOH Partner – ELEVISION
About Dubai FinTech Summit
Dubai FinTech Summit is an annual mega event organised by the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. The 2nd edition of the Dubai FinTech Summit will bring together over 8,000+ global industry leaders, 1,500+ investors and policy makers, signalling increased appetite for growth opportunities in the region.
Dubai FinTech Summit signals new wave of financial innovation, opportunity, transformation, and growth for the international financial services sector. As a rising FinTech hub, Dubai is also spearheading the evolution of the financial services industry, with investments in FinTech projected to grow by 17.2 per cent CAGR to USD949 bn from 2022 to 2030. The summit aligns with the Dubai Economic Agenda D33’s strategic goal of propelling Dubai into the ranks of the top four global financial hubs by 2033.
The expanded programme of Dubai FinTech Summit is set to exceed expectations by delving into key tracks, including the future of FinTech, embedded and Open Finance, climate finance, Web3 and digital assets. The summit stands as a thought leadership-driven platform, addressing industry challenges head-on and championing innovation.
To register for the event, visit www.dubaifintechsummit.com.
Visitors can purchase tickets for the Dubai FinTech Summit 2024.
For further inquiries, please contact:
Shadi Dawi
Director of PR & Strategic Partnerships
Trescon Global
Mobile: +971 55 498 4989
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
PIONEERING PARTNERSHIP: KRAATZ ENGINEERING AND UNAM FORGE STRATEGIC ALLIANCE TO BRIDGE SKILLS GAP
FinTech Funding Continues to Surge as Second Edition of Dubai FinTech Summit Commences
Reskilling and Upskilling for the AI Age: Dee Agarwal’s Advice for Staying Ahead of the Curve
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