ChainCatcher news, according to local media Share2Trade, the Director of the Thailand National Economic and Social Development Council (TIDC) Wai Man Raymond Chu announced the appointment of dao5 founder Tekin Salimi and Movement Labs co-founder Rushi Manche as advisors. Both advisors have a background in Polychain Capital and will assist Thailand in developing blockchain infrastructure.Rushi revealed on social media that his work will focus on national stablecoin tokenization and issuance, decentralized AI network training, as well as strategic reserve plans for assets such as Bitcoin, Ethereum, and MOVE. TIDC, as Thailand's first institution focused on the digital ecosystem, aims to promote the country's digital economic transformation.

ChainCatcher news, according to South Korean media reports, South Korean blockchain infrastructure company DSRV announced that it expects to achieve revenue of 10 billion KRW (approximately 7.6 million USD) and an operating profit of 3 billion KRW in 2024, a year-on-year increase of 62%, marking its first profit since its establishment five years ago. DSRV has currently selected Daishin Securities as the lead underwriter for its IPO, planning to list on KOSDAQ in the first half of 2026.The company ranks ninth in the global Ethereum staking market, managing over 40 trillion KRW in digital assets and providing clients with an annualized return of 4-5%. The company plans to conduct a Series B financing round in the first quarter of 2025, aiming for revenue of 30 billion KRW in 2025 and expanding into new business areas such as payments.

ChainCatcher news, according to CoinDesk, early-stage venture capital firm Sigma Capital has launched a $100 million fund focused on Web3 startups.According to an announcement released via email on Tuesday, the Dubai-based company is looking to leverage the United Arab Emirates (UAE) reputation as a cryptocurrency hub. The fund will focus on decentralized finance (DeFi), tokenization, and blockchain infrastructure by managing a portfolio of liquid tokens.

ChainCatcher news, according to the Mobile Payment Network, the General Office of the Standing Committee of the Shanghai Municipal People's Congress has issued a notice indicating that the 17th meeting of the 16th Standing Committee of the Municipal People's Congress reviewed the "Regulations on Promoting the Application of Electronic Documents Empowered by Blockchain in Pudong New Area (Draft)." In order to further promote legislative democracy, the draft regulations and related explanations are now published to widely solicit opinions from the public for further research and modification, and to be submitted for review at future Standing Committee meetings.The "Regulations on the Application of Electronic Documents" support the integration of the digital RMB system with blockchain infrastructure, promoting the use of digital RMB in application scenarios such as electronic document certification, pricing, payment, settlement, and investment financing.In addition, the "Regulations on the Application of Electronic Documents" also state that relevant departments will be encouraged to manage and share various electronic licenses, electronic documents, and other materials generated in the performance of their duties based on blockchain infrastructure.

ChainCatcher news, the modular identity and data layer CARV and Monad Labs, aimed at gaming and AI, announced a strategic development that will reshape the future of blockchain gaming by combining CARV's data layer technology with Monad's blockchain infrastructure.The main highlights of this integration include:Scalable Web3 gamesAdvanced data ownershipEnhanced developer toolsIt is reported that CARV is building the largest modular identity and data layer (IDL) for gaming, artificial intelligence, and other fields, integrating over 900 gaming and AI companies, accounting for more than 30% of all Web3 games.Monad is an innovative Layer 1 blockchain that reimagines Ethereum's infrastructure to achieve high-performance parallel execution, asynchronous execution, custom state databases, and a unique consensus mechanism.

ChainCatcher news, according to Bloomberg, Worldpay Inc. plans to directly participate in the process of validating blockchain transactions for a better understanding of how digital ledgers operate.Sanchit Mall, Head of Web3 and Crypto for Worldpay in the Asia-Pacific region, stated that the payment provider, which supports over a million merchants worldwide, is in discussions with selected blockchains to become a validator."Our idea is to be part of the underlying ecosystem," Mall said in an interview, adding that as future funds flow on digital ledgers, Worldpay intends to engage in blockchain infrastructure.Mall noted that so far this year, the company has processed $1.3 billion in payments using stablecoins, while that figure was less than $1 billion in 2023.

According to ChainCatcher, Tiger Research reported that the Ministry of Electronics and Information Technology (MeitY) of India announced the National Blockchain Framework (NBF) on September 4.India's National Blockchain Framework adopts a different approach compared to existing public blockchains. It uses a permissioned blockchain instead of public blockchains like Bitcoin or Ethereum. In this model, only authorized participants can validate transactions, making it more suitable for government services. This is because the protection and control of personal information have been strengthened.The key keywords of the announced National Blockchain Framework are security, transparency, and increased trust. By establishing a blockchain infrastructure that will become the foundation of national systems, companies can develop blockchain solutions suitable for the public sector.

ChainCatcher news, blockchain infrastructure company Blockdaemon founder Konstantin Richter stated that the company may go public in 2026. The Blockdaemon website shows that this U.S.-based company, founded in 2017, has secured over 400 institutional clients, with supporters including Goldman Sachs, JPMorgan, and Citi Ventures Inc.Richter stated that Blockdaemon's latest valuation is approximately $3.3 billion. He mentioned on Wednesday that Hong Kong is currently more suitable for an IPO than the United States, as the latter's cryptocurrency regulatory environment is "really bad." He added that regardless of the outcome, the regulatory environment in the U.S. will improve after the November elections. He also noted that Asia is a growth driver for its business, and the company may double its team size in the region within a year.According to a press release, Blockdaemon's post-money valuation in a $207 million funding round in 2022 was $3.25 billion, with investors including SoftBank Vision Fund 2.

ChainCatcher news, according to The Block, Web3 development company Alchemy announced the acquisition of Romanian blockchain infrastructure provider Bware, with the specific acquisition amount not disclosed.It is reported that this acquisition will not affect Alchemy or Bware customers, and additionally, Alchemy will not take over Bware's INFRA decentralized network and its tokens. This acquisition will expand Alchemy's business in Europe.

ChainCatcher news, according to official sources, Tanssi has partnered with Symbiotic to extend the blockchain infrastructure protocol to Ethereum, enabling the launch of a decentralized network (or AVS) within minutes, providing a fully decentralized, developer-friendly, and customizable environment. Both parties will leverage the security of the Ethereum blockchain to jointly promote the deployment of highly customizable and decentralized networks.

ChainCatcher news, the intent-based blockchain infrastructure project Essential announced the completion of a $11 million Series A funding round, led by Archetype, with participation from IOSG, Spartan, Mirana, Amber Group, Maven 11, Bodhi Ventures, Big Brain Holdings, Heartcore Capital, Selini, DCLM, and PropellerHeads, as well as founders and angel investors from Celestia, Hashflow, Enso, Barter, LI.FI, Astaria, GlueX, Bebop, and Sorella.The new funding will be used to drive Essential towards its goal of redesigning blockchain interactions from a declarative, intent-based architecture from first principles, making blockchain technology more intuitive and accessible to developers and users worldwide.Meanwhile, Essential has launched the Pre-Alpha Devnet for early developers to deploy and test declarative applications on Essential without permission.In addition, Essential has introduced Pint, a constraint-based programmable intent language that allows developers to directly constrain the state on the Essential blockchain. In Web3, the open Essential tech stack provides developers with the opportunity to experiment in a declarative environment for the first time. The official developer documentation has been released, including Essential specifications, Pint documentation, and a quick start guide, inviting developers worldwide to test and build on Essential.

ChainCatcher news, the Web3 industry research and analysis platform Web3Caff Research recently released an in-depth report on the chain abstraction track. The report points out that chain abstraction is an important concept in blockchain technology, combining the principles of abstraction in computer science with blockchain technology. It not only achieves cross-chain functionality between different blockchains but also addresses issues such as high gas fees, cross-chain transactions, and MEV through technological upgrades and account abstraction.The report further indicates that the development of chain abstraction not only enhances the experience for developers and users but also brings new challenges to the business models of existing protocols and public chains. With the emergence of complex Web3 applications, a trend towards modular functionality is evident, and foundational service protocols face ToB business demands. The implementation of chain abstraction also reduces development costs, allowing more resources to be allocated to optimizing user experience and marketing, thereby promoting the development of multi-service applications. The competitive landscape of public chains is also changing due to chain abstraction. Users may not be able to directly understand the technical differences between different public chains but can perceive the differences through their usage experience. Some public chains enhance user experience by eliminating gas fees and other strategies, actively removing complex experience barriers as a growth strategy.At the same time, the report also reveals the risks and challenges of this mechanism, such as technical complexity, security vulnerabilities, short-term user experience confusion, adjustments in business models, uncertain market acceptance, and increasingly stringent regulatory requirements. These factors need to be managed carefully to ensure long-term success and stable development.

ChainCatcher news, blockchain data infrastructure company Covalent has completed a $5 million financing round, led by RockTree Capital, with other investors including CMCC Global, Moonrock Capital, and Double Peak Group.Covalent develops infrastructure that allows users to access historical blockchain data in the "Ethereum Wayback Machine," similar to how web2 stores online webpages. The company stated that it will use this funding to expand into Asia and support long-term data availability in countries such as China and Singapore.It is reported that Covalent has raised over $20 million in total through token sales.

ChainCatcher news, according to DL News, the EU has established a new organization aimed at introducing blockchain infrastructure to improve record-keeping and data transfer among its 27 member states. The Belgian Secretary of State for Digitalization is promoting a blockchain project managed by EU countries, called Europeum. Ten EU member states have agreed to assist in the operation and launch of the project, and other countries will also be able to utilize the blockchain infrastructure. The project has been under construction since 2017 and has now begun operations; currently, Germany and France have not yet committed to the arrangement, but France has consistently supported the project.

ChainCatcher news, according to official sources, Tencent Cloud has launched a blockchain infrastructure solution for MultiversX to address the main challenges developers face in transitioning to Web3, minimizing the hassle of deploying and managing MultiversX blockchain infrastructure nodes.It is reported that the two companies will also accelerate the development of blockchain-driven game development, including the launch of funding programs and support for ecosystem hackathons.

ChainCatcher news, according to official sources, the national key research and development program "Blockchain" key special project "Ultra-large-scale Blockchain Infrastructure Platform for the 'Belt and Road' Initiative" project launch and implementation plan demonstration meeting was held at the Shanghai Tree Blockchain Research Institute. The project is led by the Shanghai Tree Blockchain Research Institute, with participation from multiple organizations including the China Academy of Information and Communications Technology, Shanghai Jiao Tong University, Fudan University, and Shanghai Maritime University. Experts and leaders from the Ministry of Industry and Information Technology's Industrial Development Promotion Center, Shanghai Science and Technology Commission, project consulting expert group, leading project units, and project participants attended the meeting.

ChainCatcher news, according to LatamList, Dubai-based cybersecurity and blockchain company Infinity Capital has acquired Medellín-based blockchain infrastructure company Andro, with the terms of the acquisition kept confidential.It is reported that Infinity Capital offers a range of security services, utilizing decentralized blockchain network security tools to protect and optimize fund performance. By integrating Andro's technology, Infinity Capital aims to provide an enhanced security solution suite for large funds dealing with stablecoins and digital assets.