Sumotex

🤝 Sumotex Partners with CyberSecurity Malaysia to Revolutionize Blockchain Development We're thrilled to announce that Sumotex has been formally approved as a strategic partner in CyberSecurity Malaysia's CCP initiative. We are committed to spearheading blockchain adoption in Malaysia through our unique layer-1 hybrid protocol. With this partnership, the safety and security of users, enterprises, and government agencies are guaranteed. Join us as we drive innovation in the Malaysian blockchain landscape. 🔻 Click link to read more. cc: Dato' Dr Amirudin Abdul Wahab and Dexter leow #Sumotex #Layer1 #Blockchain

Selamat Menyambut Hari Kemerdekaan Yang Ke-67! #Sumotex #Blockchain

✨ Introducing Sumotex! One of Startupbootcamp’s latest PropTech startups! Based in Malaysia, Sumotex is breaking barriers in the real estate market with its cutting-edge tokenization platform! By leveraging their Layer-1 Hybrid blockchain, they enable fractional ownership, enhancing liquidity and democratising access for retail investors. Making the entry barrier for Investing accessible to everyone! Partnering with UBB Investment Bank, they have successfully tokenized $26 million USD of real-world assets, proving their platform's security and scalability. Join in transforming the real estate and financial sectors with innovative, accessible, and secure investment opportunities 🚀! Get in touch with Sumotex to find out more! Dexter Leow - Co-Founder of Sumotex https://lnkd.in/dqACWJKx #Startupbootcamp #SBC #Startup #PropTech #Innovation #Entrepreneurship #FractionalOwnership #BlockChain #Tokenization

✨ Introducing Sumotex! One of Startupbootcamp’s latest PropTech startups! Based in Malaysia, Sumotex is breaking barriers in the real estate market with its cutting-edge tokenization platform! By leveraging their Layer-1 Hybrid blockchain, they enable fractional ownership, enhancing liquidity and democratising access for retail investors. Making the entry barrier for Investing accessible to everyone! Partnering with UBB Investment Bank, they have successfully tokenized $26 million USD of real-world assets, proving their platform's security and scalability. Join in transforming the real estate and financial sectors with innovative, accessible, and secure investment opportunities 🚀! Get in touch with Sumotex to find out more! Dexter Leow - Co-Founder of Sumotex https://lnkd.in/erj5X2VD #Startupbootcamp #SBC #Startup #PropTech #Innovation #Entrepreneurship #FractionalOwnership #BlockChain #Tokenization

𝐈𝐬 𝐀𝐈 𝐭𝐡𝐞 𝐍𝐞𝐱𝐭 𝐁𝐢𝐠 𝐓𝐡𝐢𝐧𝐠 𝐢𝐧 𝐖𝐞𝐛𝟑? 𝐍𝐞𝐭𝐰𝐨𝐫𝐤𝟑'𝐬 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 𝐇𝐢𝐧𝐭𝐬 𝐚𝐭 𝐚 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝 Web3, the decentralized internet of the future, is attracting a lot of attention. But is Artificial Intelligence (AI) also becoming a major player in this space? A recent funding round for Web3 AI firm Network3 suggests it might be. Network3, a startup building Web3's artificial intelligence infrastructure, recently secured $5.5 million in pre-seed and seed funding. This influx of capital will allow them to expand their team and further develop their technology stack. The funding round involved participation from a consortium of investors including Borderless Capital, EV3, IoTeX Eco Fund, SNZ, Waterdrip Capital, and Bing Ventures. Network3 founder Rock Zhang emphasized that there was no single lead investor and the company's board of directors will remain unchanged. What is Network3 Building? Network3's project focuses on creating a decentralized AI infrastructure that distributes tasks across a vast network of devices. This approach aims to reduce latency (processing delays) while prioritizing user privacy. "We are building a decentralized Edge AI infrastructure, including the technology outlined in our white paper," Rock Zhang explained. "Currently, our network boasts over 240,000 live nodes worldwide, and we plan to release a physical mining machine in the coming months." Network3 Joins a Growing Trend of Web3 AI Startups Network3 isn't the only AI-focused company generating investor interest in the Web3 space. Here are some recent examples: ◾ Mira: This crypto AI firm secured $9 million in a seed round co-led by ◾Bitkraft Ventures and Framework Ventures on July 16th. ◾ChainML: A web3 AI platform, ChainML, raised an additional $6.2 million in a seed extension round led by Hack VC in mid-May. ◾MyShell: Dragonfly Capital led an $11 million funding round for MyShell, a creator-focused web3 AI firm, back in March. The increasing investment in Web3 AI startups like Network3 suggests that AI could play a significant role in the future of decentralized technologies. As these companies continue to develop, it will be interesting to see how AI is integrated into various Web3 applications and how it contributes to the growth of the decentralized internet. #Sumotex #Blockchain #Web3 #Layer1

𝐓𝐡𝐞 𝐒𝐮𝐛𝐬𝐞𝐭 𝐨𝐟 𝐅𝐢𝐧𝐭𝐞𝐜𝐡: 𝐃𝐞𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐬𝐞𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 (𝐃𝐞𝐅𝐢) Decentralized finance (DeFi) is a rapidly evolving subset of fintech that aims to disrupt traditional financial systems by removing intermediaries like banks and financial institutions. Built on blockchain technology and smart contracts, DeFi platforms offer a wide range of financial services, including lending, borrowing, trading, and investing. 𝗞𝗲𝘆 𝗖𝗵𝗮𝗿𝗮𝗰𝘁𝗲𝗿𝗶𝘀𝘁𝗶𝗰𝘀 𝗼𝗳 𝗗𝗲𝗙𝗶 🔹 Decentralization: Control is distributed among network participants rather than centralized authorities. 🔹 Openness: DeFi protocols are typically open-source, allowing for transparency and community development. 🔹 Permissionless: Anyone with internet access can participate, regardless of credit score or financial background. 🔹 Programmability: Smart contracts automate financial processes, reducing the need for human intervention. 𝗖𝗼𝗿𝗲 𝗖𝗼𝗺𝗽𝗼𝗻𝗲𝗻𝘁𝘀 𝗼𝗳 𝗗𝗲𝗙𝗶 ➡ Decentralized Exchanges (DEXs): Peer-to-peer platforms for trading cryptocurrencies without intermediaries. ➡ Lending and Borrowing Protocols: Enable users to lend and borrow crypto assets without traditional financial institutions. ➡ Stablecoins: Cryptocurrencies pegged to stable assets like fiat currencies or commodities to reduce volatility. ➡ Yield Farming: A process of providing liquidity to DeFi platforms in exchange for rewards. ➡ Decentralized Autonomous Organizations (DAOs): Collectively owned and governed organisations without centralised leadership. 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗗𝗲𝗙𝗶 👉 Financial Inclusion: DeFi can provide access to financial services for people who are unbanked or underbanked. 👉 Transparency: Blockchain technology ensures transparency and immutability of transactions. 👉 Efficiency: Smart contracts automate processes, reducing costs and transaction times. 👉 Innovation: DeFi fosters a vibrant ecosystem of experimentation and new financial products. DeFi has the potential to revolutionise the financial industry by offering greater accessibility, transparency, and efficiency. As the technology matures and regulatory frameworks evolve, DeFi could become a mainstream component of the financial ecosystem. Stay tuned for more Web3 updates. #Sumotex #DeFi #Web3 #Blockchain

𝐓𝐡𝐞 𝐑𝐢𝐬𝐞 𝐚𝐧𝐝 𝐅𝐚𝐥𝐥 𝐨𝐟 𝐖𝐞𝐛𝟑 𝐢𝐧 𝐂𝐡𝐢𝐧𝐚 Crunchbase data showcases a dramatic decline in Web3 startup funding – defined as those in crypto and blockchain sectors – with a 74% drop from 2022. Startups raked in just $7 billion in 2023 compared to $26.6 billion the year before. However, amidst this global cooling-off period, a different story unfolds in Asia. China and India, despite their strict cryptocurrency regulations, exhibit a more optimistic outlook on Web3. China, in particular, has shown strong interest in utilizing blockchain technology for various applications, ranging from trade finance to supply chain security. This interest stems from the country's emphasis on technological advancement and scientific innovation. However, Chinese authorities remain wary of blockchain's potential to dismantle the state-controlled financial system. This unique perspective shapes China's approach to Web3, which they view as an extension of their existing robust digital financial services ecosystem. Two key developments in December 2023 solidify China's commitment to exploring Web3: National Strategic Web3 Plan: The Ministry of Industry and Information Technology announced the development of a national Web3 plan, building upon local initiatives in major cities. GBA Web3 Fund: The Chinese venture capital fund, Greater Bay Area (GBA) Capital, pledged to establish a $10 billion fund specifically for Web3 development, aiming to transform the GBA into a regional hub. Time will tell if Web3 will endure alongside established technologies like decentralized finance and blockchain. Stay tuned for more industry updates. #Sumotex #Web3 #Blockchain

Salam Maal Hijrah, 1 Muharram 1446 H to all our Muslim friends and business partners. Jadikan tahun baharu ini sebagai peluang untuk kita mengubah diri ke arah yang lebih baik. #Sumotex #Layer1 #Blockchain #AwalMuharram #MaalHijrah #CiptakanPerubahan

We have been officially designated as a Strategic Partner within CyberSecurity Malaysia's esteemed CCP (Cybersecurity Collaboration Program). This prestigious position places Sumotex at the forefront of driving national initiatives in blockchain protocol development. This development builds upon the groundbreaking Memorandum of Understanding (MoU) signed between Sumotex and CyberSecurity Malaysia in December 2023. The MoU served as a significant springboard, propelling Sumotex to the leading edge of national blockchain protocol development. Benefits: ⚫ Deepens collaboration with CyberSecurity Malaysia on critical national projects. ⚫ Acknowledges Sumotex's expertise and leadership in blockchain technology. ⚫ Positions Sumotex as a key player in shaping the future of secure blockchain protocols. This strategic partnership signifies a significant leap forward for Sumotex and positions us as a central figure in shaping the future of secure blockchain protocols within Malaysia. #Sumotex #CCP #Cybersecurity #Blockchain #Layer1

𝐖𝐡𝐚𝐭 𝐘𝐨𝐮 𝐍𝐞𝐞𝐝 𝐭𝐨 𝐊𝐧𝐨𝐰 𝐀𝐛𝐨𝐮𝐭 𝐑𝐖𝐀 𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 The financial landscape is undergoing a significant transformation, driven by the rise of blockchain technology. One of the most exciting advancements in this space is Real-World Asset (RWA) Tokenization. RWA Tokenization has the potential to revolutionize the way we invest and manage assets. As the technology matures and regulations are established, we can expect to see wider adoption and innovation in this space. 👇 Watch this video to learn more about this innovative concept. #Sumotex #Web3 #Blockchain #RWA #Tokenization