Zug, Switzerland–(Newsfile Corp. – September 9, 2022) – DIA, the open-source oracle platform for web3, announced today a full re-release of their website, featuring a set of tools to explore and create data feeds autonomously, wrapped in a new brand identity. While the core product – end-to-end data sourcing and delivery for web3 projects – remains unchanged, the update gives a deep look into the data platform and a hint of where DIA’s journey will go.
A data library explorer for improved transparency
DIA can be seen as somewhat of a special case in the oracle landscape, as it strongly differs in nature in comparison to most other projects. Instead of aggregating existing data feeds from third-party APIs and bringing those on chain, DIA takes a vertically integrated approach that enables full visibility of the data value chain from sourcing to delivery.
By scraping data directly from a number of centralised and decentralised exchanges, the platform is able to retrieve pricing data for literally any asset, as soon as it is traded. Users are able to customise any feed according to their specific needs. DIA also delivers the feeds via to all relevant, constantly growing networks in web3.
This results in a unique value proposition, as it allows DIA to cover long-tail assets that are not provided by other oracle projects. DIA’s new homepage features an app that allows the exploration of its entire library.
Self-service architecture enables user autonomy
Not only does it show the real-time output of the feeds as well as relevant metadata like all the sources that are used for any given feed. Users are able to choose any available pair listed in the library and tweak the parameters of the feed to meet their needs.
For instance, a DeFi dApp might want to receive data about the price of Ethereum only for specific markets that it executes on, or might want to increase the update frequency or change the trigger that causes an oracle update from a time-based method to a deviation-based method. This tool, named ‘xStream’, will enable DIA to serve the exponentially growing number of Web3 projects with much more specificity while increasing speed, efficiency and transparency.
“As an oracle provider, despite fulfilling such a fundamental building block of the web3 ecosystem, the nature of our business is often quite abstract, even for experienced industry veterans“, says Michael Weber, co-founder and Association President at DIA. “With this new release, not only do we make our immutable financial data library tangible and accessible, we also provide autonomy and transparency for our users by enabling them to create the exact feeds they need to feed their smart contracts.“
A new identity to match the progress
Despite not being a core product development it is worth mentioning that the team behind the Switzerland-based data provider has also launched a full do-over of its brand. While its name and domain remain unchanged, the new look aims to convey more technical depth and maturity of its product offering.
The announcement also vaguely hints at DIA’s plans for the foreseeable future. As can be read in full in the project’s Medium blog, key focus areas will be the further development of its data offering to provide more sophisticated feeds, providing a trustless architecture that ensure stability and security and improved risk monitoring tools.
DIA (Decentralised Information Asset) is a cross-chain, end-to-end, open-source data and oracle platform for Web3.
The DIA platform enables the sourcing, validation and sharing of transparent and verified data feeds for traditional and digital financial applications. DIA’s institutional- grade data feeds cover asset prices, metaverse data, lending rates and more. DIA’s data is directly sourced from a broad array of on-chain and off-chain sources at individual trade level. This allows DIA feeds to be fully customised with regards to the mix of sources and methodologies, resulting in tailor-made, high resilience feeds, setting a new paradigm for oracles.
DIA’s oracles are available to developers on all relevant layer 1 and layer 2 networks including Ethereum; Solana; Polkadot, and parachains Moonbeam, Astar, Acala; Kusama, and parachains Moonriver, Shiden; Binance Smart Chain; Polygon; Fantom; Avalanche; Arbitrum; Celo and many more.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136496
Expressions of Interest for Director of the European Bank for Reconstruction and Development
The Minister for Finance, Michael McGrath, is inviting Expressions of Interest from suitably qualified candidates to be considered as Ireland’s Director of the London-based European Bank for Reconstruction and Development (EBRD). The remunerated position of Director is an important post with a demanding workload. A full-time residential position, it is based at Bank headquarters in London.
The Minister’s nominee is expected to be appointed by the EBRD, with the agreement of Ireland’s Constituency partner countries, for a three-year term from 1 August 2024.
Minister McGrath commented:
“This is an exciting opportunity to represent Ireland (and our Constituency partners Denmark, Lithuania and Kosovo) as a Director on the Board of the European Bank for Reconstruction and Development overseeing the policy-making and governance of the Bank. The EBRD is a unique International Financial Institution supporting projects across three continents. By investing in projects which otherwise would not be fully met by the market, the EBRD promotes entrepreneurship and fosters transition towards open and sustainable market economies. I am keen to ensure our Irish representative has the ability, education, vision, and experience to make a significant contribution to the Board and brings a range of skills and diverse perspective to the deliberations of the Board.
My nominee will need high competence in economic and financial matters. Expertise can come from notable or significant achievements in the corporate or financial sector, academia, policy-focused institutions, or public service. Importantly, they will have the highest ethical standards, a strong sense of professionalism and commitment, and dedication to serving the interests of all the shareholders and be able to make themself readily available to the Board in the fulfilment of their duties.”
Expressions of interest will be accepted up to 3pm on 27th March 2024
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Council adopts regulation on instant payments
The Council adopted today a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.
The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities to mobilize cash-flows will bring benefits for citizens and companies and allow for innovative added value services.
The instant payments regulation will allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state. The regulation takes into consideration particularities of non-euro area entities.
Payment service providers such as banks, which provide standard credit transfers in euro, will be required to offer the service of sending and receiving instant payments in euro. The charges that apply (if any) must not be higher than the charges that apply for standard credit transfers.
The new rules will come into force after a transition period that will be faster in the euro area and longer in the non-euro area, that needs more time to adjust.
The regulation grants access for payment and e-money institutions (PIEMIs) to payment systems, by changing the settlement finality Directive (SFD). As a result, these entities will be covered by the obligation to offer the service of sending and receiving instant credit transfers, after a transitional period. The regulation includes appropriate safeguards to ensure that the access of PIEMIs to payment systems doesn’t carry additional risk to the system.
Under the new rules, instant payment providers will need to verify that the beneficiary’s IBAN and name match in order to alert the payer to possible mistakes or fraud before a transaction is made. This requirement will apply to regular transfers too.
The regulation includes a review clause with a requirement for the Commission to present a report containing an evaluation of the development of credit charges.
This initiative comes in the context of the completion of the capital markets union. The capital markets union is the EU’s initiative to create a truly single market for capital across the EU. It aims to get investment and savings flowing across all member states for the benefit of citizens, businesses, and investors.
On 26 October 2022 the Commission put forward a proposal on instant payments that amends and modernises the single euro payments area (SEPA) regulation of 2012 on standard credit transfers in euro by adding to it specific provisions for instant credit transfers in euro.
Source: European Council
FCA highlights need for enhanced competition in wholesale data markets
The FCA has unveiled the outcomes of its in-depth study into the wholesale data market, focusing on the sectors of credit ratings data, benchmarks, and market data vendor services.
Despite deciding against major regulatory actions due to the risk of unintended consequences that could affect the data’s availability and quality—a crucial resource for global investors—the FCA has pinpointed several areas where competition could be significantly improved.
The study’s revelations indicate that the current state of competition in these markets may lead to users incurring higher costs for data than would be the case in a more competitive environment. This concern is particularly pressing given the critical role that such data plays in supporting effective investment decisions across the financial sector.
In a move to address these findings, the FCA has proposed initiatives aimed at ensuring wholesale data is distributed under fair, reasonable, and transparent conditions. This approach forms a part of the regulator’s broader strategy to ‘repeal and replace’ assimilated EU law, reinforcing the UK’s status as a premier global financial hub fostering investment, innovation, and sustainable growth.
Sheldon Mills, the FCA’s Executive Director of Consumers and Competition, emphasised the importance of quality and accessible wholesale data for the efficiency of financial markets. “The quality and availability of wholesale data is integral to well-functioning wholesale financial markets,” Mills stated. He further clarified, “Our market study found that firms can access the data they need to make effective investment decisions. We do not believe the case has been made for significant interventions. However, we will examine ways to help support wholesale data being provided on fair, reasonable and transparent terms.”
In its commitment to fostering a competitive and fair marketplace, the FCA will continue to scrutinize allegations of anti-competitive behavior across all markets, including wholesale data markets, leveraging its powers under the Competition Act to address any such issues.
Source: Fintech Global
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