Belfrics Group, one of the largest international blockchain conglomerates of the world, in association with Dar Es Salaam Institute of Technology (DIT), one of the leading technology and engineering institutes in Tanzania and the East African region, today announced a joint initiative to develop a pool of talented and skilled technology professionals for blockchain as a domain. Belfrics Academy SDN BHD, the research, international training and skill development vertical of Belfrics Group of Companies, would lead the efforts to address the knowledge-gap and the rapidly growing requirements Blockchain Talents in the industry.
On this momentous association, Mr. Praveenkumar Vijayakumar, Founder and CEO — Belfrics Group of Companies said, “We all know that the Internet is filled with the so many online courses on Blockchain technology. But the sad reality is that, the quality of talent and knowledge that is out there, is not even close to what the industry needs. There is still a humungous knowledge-gap, and a huge void in terms of the quality and quantity of blockchain talent in the market. This is not only an Africa problem; this is a world problem! And we are happy to have associated with an esteemed institute like DIT which is synonymous with technology as an industry.”
DIT, being one of the leaders in the space of capacity building for the latest technologies in the industry, keenly believes blockchain to be the next big wave in the digital transformation of the world, and especially, Africa. Similarly, Belfrics Group of companies has been one of the leading conglomerates spearheading the blockchain movement across the globe. With its presence in Asia Africa Middle East and South America regions, Belfrics is one of the few global companies to have worked with government bodies, financial regulators, and conglomerates for a blockchain-ready infrastructure.
“We are pleased to see educational leaders like DIT come forward and being open to the need of the industry. I would say, that this is the right time, between being proactive or before being reactive to the industry demands. Employment and development is Key, and for that we must understand where the future is. DIT is doing just that. In fact, we’re pleasantly surprised to see the level of awareness and requests from other prestigious institutes from the East African Region for blockchain skill development. Since we are one of the major blockchain talent hirers ourselves, we are very much aware of the quality and quantity of the talent available currently. Such collaborations are required to address the current gap,” says E C Uday Senan, Global Strategist — Belfrics Academy.
“Blockchain technology is among the emerging technologies that will soon revolutionize the internet and the ICT industry. Due to its inherent features, such as distributed system with no single point of failure, usage of cryptograph for data protection, and fast data transfer and sharing of digital assets, Blockchain has huge potential and a number of applications, particularly in developing countries. To leverage the potentials of this technology, it is critically important we create awareness of the technology as well as build the capacity of our students, staff and the general public. This is exact what DIT will do in collaboration with Belfrics. This will enable DIT to become the hub of blockchain technology, the hub where capacity building of our people as well as experimentation and eventually development of the blockchain systems for improving government service delivery will take place,” says Dr Joseph W. Matiko, the Director of ICT Centre at Dar es Salaam Institute of Technology.
“DIT is positioned to support the industrial economy by creating skilled workforce for the nation. Therefore, collaboration between DIT and Belfrics is important for capacity building of our students and staff and creating the digital skilled workforce in the country. We are really pleased to establish this collaboration because it is in line with our strategies of teaching factory concept and engagement of the industry in teaching and learning activities,” says Prof Preksedis M. Ndomba, Principal of the Dar es Salaam Institute of Technology.
“We are excited to partner with Dar es salaam Institute of Technology (DIT) on the launch of Blockchain Trainings for Corporates, DIT Students and Staff Members and the Tanzania Community at large. Blockchain Technology ensures digital skills are accessible to Tanzanians particularly youth and supports with securing meaningful opportunities where they can apply their talents, ideas and expertise to advance the Country’s economic, Industrialization and social development,” said Aziz Chonya, Director, Belfrics Tanzania.
The collaboration between DIT and Belfrics comes in at a very crucial stage, with Africa being closely eyed as the next talent-hub by the world. With blockchain strongly anticipated to be the driver for the next stream of technological innovations, African countries “stand to benefit from this shift more than other nations because most of Africa has a Greenfield in banking, finance, health and other legacy infrastructure. Africa has a unique opportunity to leapfrog in many areas and develop new infrastructure and use cases to power the future” according to an article on medium.
Belfrics Academy, the international research and skill-development vertical of Belfrics, is dedicated to customized blockchain training for Universities, Colleges and training institutes, and capacity building for Government bodies, Regulators and Private Organizations. Belfrics Academy also mentors and nurtures Blockchain talents by setting up Innovation-hubs within the University campuses to drive and mentor more blockchain talent and ideas.
Belfrics is one among the very few companies who have developed and built their own blockchain, ‘Belrium’, which is now live and deployed, and which is being seriously considered as the technology carrier by many government bodies and conglomerates for solutions from identity data harmonization, to supply chain infrastructure, to smart governance infrastructure to healthcare infrastructure, around the globe.
DIT and Belfrics Academy, through this collaboration, aim at nurturing as much talent as possible in the academic year of 2019, as the demand is rapidly increasing, thus resulting in employment of young Africans in this technology space.
Aragon OSx and App Launch on Arbitrum: lowering the cost and time of launching a DAO
Both Arbitrum and Aragon are building gateways to the largest layer 1 ecosystem, Ethereum
ZUG, Switzerland, Nov. 30, 2023 /PRNewswire/ — Aragon has deployed its modular Aragon OSx DAO framework and no-code Aragon App on Arbitrum, opening the door for DAOs to interact with a thriving ecosystem of protocols, applications, and assets. Arbitrum’s rollup technology serves as a gateway to the largest Layer 1 ecosystem—Ethereum—and Aragon’s user-friendly tech stack unlocks the mass adoption of DAO technology.
With over $7 billion total value locked and 55% of the L2 market share, Arbitrum is the industry’s most popular L2 solution. By launching on Arbitrum, DAOs can benefit from lower gas costs, allowing them to conserve DAO resources and drive increased voter turnout. Building custom DAOs on Arbitrum is also easy, because developers can take advantage of full EVM equivalence that streamlines the deployment of custom integrations. Additionally, builders who deploy on Arbitrum inherit the time-proven security of Ethereum, providing a safer and better experience for users, and can enjoy faster transaction speeds that reduce the time needed for DAO administration and governance.
“Arbitrum is by far the most adopted rollup in the EVM ecosystem, both in terms of TVL and protocols launched on the network,” said Ivan Fartunov, Head of Ecosystem at Aragon. “In addition to being home to impactful multichain projects like Stargate, Arbitrum has spurred many exciting native projects like GMX, Tenderize, and Plutus. We are excited to join such a vibrant ecosystem.”
With the accessibility of its no-code solutions, over 7000 DAOs have been launched with Aragon across Ethereum L1 and L2s. Arbitrum communities can now launch a DAO in under 10 minutes and manage their assets in a transparent and user-friendly app.
In addition, the secure and modular design of Aragon OSx enables protocols deployed on Arbitrum to customize their governance with plugins, including multichain governance and optimistic dual governance.
Arbitrum and Aragon are both building technology that opens doors to Ethereum. Both projects have a shared vision to bring the world onto Ethereum through more accessible gateways. More information about Aragon OSx and the Aragon App can be found at https://aragon.org/
Aragon builds the secure and modular Aragon OSx DAO framework and no-code Aragon App. Aragon deployed the first DAO framework in 2017, which has powered the creation of over 7500 DAOs and secured over $16b in value for leading projects like Lido, Decentraland, API3, Aavegotchi, and NFTX.
Global Securities Brokerage & Stock Exchange Services Market Size Expected to Reach $1.84 Trillion In 2023
*No Investment Advice Provided*
PALM BEACH, Fla., Nov. 30, 2023 /PRNewswire/ — Stock brokerage is a financial organization on the stock or commodity markets who buys and sells assets in the client’s best interest for which brokerage fee is charged. A stock exchange is a standardized and authorized marketplace where stockbrokers and traders can buy and sell stocks, bonds, and other securities. The services are offered through various modes, such as online and online modes. The various establishments involved are exclusive brokers, banks, investment firms, and other establishments. The securities brokerage and stock exchange services market consist of revenues earned by entities by acting as brokers in selling securities such as equities, bonds, commodities and derivatives. Securities brokerages represent customers in dealing with securities transactions on the trading floor/online platform of stock exchanges. The securities brokerages might sometimes act as a representative for both buyer and seller. This market excludes the advisory and investment activities of the brokerage firms. This market includes transaction charges levied by stock exchanges for trading on its trading floor/online platform to securities brokerages and other fees. It does not include the value of the funds invested in securities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The rise in the use of AI for faster trade executions is the main driver of the market. A report from The Business Research Company projected that the global securities brokerage and stock exchange services market size grew from $1696.91 Billion in 2022 to $1844.31 Billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The market size of global securities brokerage and stock exchange services market is expected to grow to $2506.41 billion in 2027 at a CAGR of 8.0%. Mentioned in today’s coverage includes: EF Hutton, JPMorgan Chase & Co. (NYSE: JPM), Jefferies Financial Group Inc. (NYSE: JEF), Goldman Sachs (NYSE: GS), Bank of America Corporation (NYSE: BAC), Citigroup Inc. (NYSE: C).
The report added: “Securities brokerage companies are extensively using artificial intelligence for faster trade executions. Artificial intelligence refers to programming machines to enable them to work and react like humans. Most companies are using AI for algorithmic trading in stock brokerage. Algorithmic trading refers to turning a trading idea into an algorithmic trading strategy using an algorithm. The AI-enabled alternative trading system (ATS) helps in improving the speed of trade execution. North America was the largest region in the securities brokerage and stock exchange services market size in 2022. South America was the second largest region in the securities brokerage and stock exchange services.”
EF Hutton Completes Acquisition of Broker-Dealer Benchmark Investments, LLC – EF Hutton, an investment bank headquartered in New York, today announced the closing of the acquisition of its broker-dealer, Benchmark Investments, LLC, a provider of a range of financial services to institutional and retail clients.
The transaction closed on November 9, 2023, significantly expanding EF Hutton’s capabilities and leadership across public and private markets for its growing roster of clients, with all broker-dealer resources and operations to be held under the EF Hutton brand. Benchmark Investments, LLC name has been changed to “EF Hutton LLC.” Additional details of the transaction were not disclosed.
“This transformative acquisition is the next step in our evolution to help our clients’ ambitions prosper through a full spectrum of services,” said Joseph T. Rallo, Chief Executive Officer of EF Hutton. “Looking ahead, we are integrating broker-dealer operations and believe this transaction will enhance our current business lines with the capacity for larger deals and a broader client base, while also providing a platform to expand our business lines in the future. We continue to look for additional opportunities to bolster our services and strengthen our footprint, including the expansion of our retail business through our wealth management division,” concluded Rallo.
David W. Boral, President of EF Hutton, added, “Incorporating broker-dealer functions and services into the firm will bring a higher degree of streamlined operations and efficiency for our clients. This acquisition also provides us with additional independence that gives more control and transparency to the deal process from start to finish. Our improved end-to-end solutions will position clients for long-term success across IPOs, SPAC IPOs, follow-on offerings, secondary offerings, shelf takedowns, M&A, advisory, acquisition financings, pre-IPO financings, and more. We look forward to introducing middle market and emerging growth companies around the world to an expanded EF Hutton.” For more information on EF Hutton, please visit: https://efhutton.com/ef-hutton-news/
Other recent developments in the financial markets of note include:
JPMorgan Chase & Co. (NYSE: JPM) recently kicked off its second annual DEVUP, a firmwide software engineering conference designed for engineers by engineers. Launched in 2022, DEVUP is a one-of-a-kind technology innovation forum convening more than 500 software engineers, data scientists and other technologists from all 23 of the financial services firm’s Global Technology Centers for three days of programming that celebrate engineering excellence.
The agenda features wide-ranging discussions on cutting-edge research, interactive workshops, and hands-on experiences led by more than 150 speakers. Participants have the unique opportunity to showcase and learn skills, build connections with peers, and discuss new ways to implement emerging technologies at massive scale and speed at one of the world’s large financial institutions.
“In today’s dynamic technology landscape, the role of the software engineer – and the technologist more broadly – is undergoing a transformative shift. DEVUP is an opportunity to recognize JPMorgan Chase’s top software engineers, provide experiences for them to build their skills, and foster a sense of community – all with the aim of empowering them to continue driving innovation across our firm,” said Lori Beer, Global Chief Information Officer, JPMorgan Chase. “Already a beloved tradition among JPMorgan Chase’s technologists in its second year, DEVUP brings together our software engineers from across the world to explore opportunities for innovation and impact, and champion the broader firm’s technology-forward mindset.”
Bank of America Corporation (NYSE: BAC) Chair and Chief Executive Officer Brian Moynihan will participate in the Goldman Sachs 2023 US Financial Services Conference on Tuesday, December 5, at 9:20 a.m. ET. A live webcast of this event will be accessible through the Bank of America Investor Relations website at https://investor.bankofamerica.com.
Citigroup Inc. (NYSE: C) – Citibank is launching its first football promotional campaign in Singapore, giving its customers a once-in-a-lifetime opportunity to attend the prestigious UEFA Champions League Final live in London.
The global bank is the first in Singapore to partner Mastercard for the 2023/24 UEFA Champions League, responding to the passion points of its clients and the intense popularity of football in the region.
Regina Lim, Citibank Singapore Head of Credit Cards and Personal Loans, said: “Customers want a win-win relationship with a bank that understands and empowers them to pursue their passion. Given the immense following football has in Singapore, this campaign exemplifies our commitment to be the bank that gets our customers ahead and delivers exceptional value for them.
Jefferies Financial Group Inc. (NYSE: JEF) Richard Handler, CEO, and Brian Friedman, President recently released a statement regarding the firm’s Q3 Financial highlights.
“Our third quarter net revenues of $1.18 billion reflect an improving market environment. We are increasingly optimistic that we have come off the bottom of the cycle and that momentum in investment banking will continue.
“Investment Banking generated $645 million of net revenues, an increase of 28% from last quarter due to modestly improved mergers and acquisitions activity and a more receptive leveraged finance and new issue market, as the green shoots we mentioned last quarter have multiplied.”
“Our strategy during down cycles has always been to play offense by investing in our future. This is the main theme for us in 2023, made possible by our strong capital base and solid global brand and platform. The dislocation and changes in strategy among some of our competitors created distinct opportunity this year. As we will discuss during our upcoming Investor Day on October 16, 2023, we are adding outstanding new Managing Directors to our Investment Banking effort across the globe. We started 2023 with 299 Managing Directors in Investment Banking and expect to begin 2024 with over 360 total Managing Directors, an increase of 20%. The 360 Managing Directors would be up 70% from the 212 Investment Banking Managing Directors that wore the Jefferies’ jersey at the beginning of 2020.”
Goldman Sachs (NYSE: GS) recently recognized CEO of 6sense, Jason Zintak, as one of the Most Exceptional Entrepreneurs of 2023 at its Builders and Innovators Summit in Healdsburg, California. Goldman Sachs selected Zintak from multiple industries honored at the two-day event. Since Zintak joined 6sense in 2017, the company has grown astronomically by every measure: employee, customer, net revenue retention, and revenue growth. With a reputation for making smart moves, prioritizing people, and creating a culture of innovation, Zintak leads the company towards its mission to revolutionize the way B2B organizations create, manage and convert pipeline to revenue.
“To be recognized for entrepreneurship by Goldman Sachs is an incredible honor,” said Jason Zintak, 6sense CEO. “This recognition reflects the strength and passion of our team and our commitment to a growth mindset which fosters ongoing learning, curiosity and innovation. Our collective entrepreneurial spirit at 6sense started with our founders and leaders and continues today across the organization as a defining element of our success in delivering real value to our customers.”
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CHARAC SECURES £1M INVESTMENT FROM WORLD-CLASS MEDICATION PLATFORM MEDADVISOR TO DRIVE ITS INTERNATIONAL GROWTH
Total capital raised by Charac now sits at £3.5 million following previous investment from the National Pharmacy Association
Deal allows Charac to expand its capabilities across Australia, New Zealand and the USA to help pharmacists capitalise on significant market opportunities
LONDON, Nov. 28, 2023 /PRNewswire/ — Leading healthcare SaaS provider Charac today announces a ground-breaking partnership with world-class medication management platform MedAdvisor Solutions (ASX:MDR). The deal with Australia-based MedAdvisor allows Charac to expand it capabilities across Australia, New Zealand and the USA, making components of its app available to a far broader group of pharmacies internationally.
MedAdvisor, through a strategic investment and licencing agreement, will invest up to £1 million over 9-months in Charac for up to a 7.4% shareholding, and the company’s CEO Rick Ratliff will join Charac’s board as a Non-Executive Director. MedAdvisor will end operations in the UK, transferring its relationships to Charac.
Through licensing specific components of Charac’s platform and integrating them into MedAdvisor’s Plus One platform, the partnership will provide tremendous improvements in the delivery of digital pharmacy support, advanced home delivery solutions and eCommerce capabilities.
MedAdvisor has connected with over 3.5 million patients through more than 95% of Australian community pharmacies. It also serves 25% of New Zealand’s community pharmacies and works with 33,500 pharmacies in the USA. Globally, MedAdvisor has achieved a milestone of 235 million patients.
Charac’s app streamlines pharmacy operations onto a cloud-native platform to relieve time pressure, increase efficiency and drive the growth of independent pharmacies.
The UK’s retail pharmacy market is projected to grow from USD$27b in 2022 to $39.59b by 2030. In Australia, revenue in the pharmacies market is close to USD$20b, while in the USA, the market is valued at some USD$527b. All three markets have annual growth projections of between 4%-5%.
Charac is integrated with the NHS, and the company has signed up some 800 pharmacies, with 36,000 patients currently using the app. Charac has previously secured a £1 million investment from the Royal Mail and £1.2 million from the National Pharmacy Association and pharmacy owners.
Santosh Sahu, founder and CEO of Charac, said: “MedAdvisor is an ideal partner for us to help accelerate our international growth plans and pursue our ambitious mission to enable pharmacies to take advantage of the significant opportunities that present themselves.”
- Aragon OSx and App Launch on Arbitrum: lowering the cost and time of launching a DAO
- Global Securities Brokerage & Stock Exchange Services Market Size Expected to Reach $1.84 Trillion In 2023
- CHARAC SECURES £1M INVESTMENT FROM WORLD-CLASS MEDICATION PLATFORM MEDADVISOR TO DRIVE ITS INTERNATIONAL GROWTH
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