SINGAPORE, Nov. 4, 2024 /CNW/ — HTX Ventures, the global investment division of HTX, today unveils its latest research on crypto and its impact on the much anticipated U.S. presidential election. This marks the first time that crypto has become a key issue in a U.S. election, and the report, titled 2024 U.S. Election For Crypto: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation, aims to discuss the reasons behind it and analyze what crypto will potentially look like after the election.

Both presidential candidates, Donald Trump and Kamala Harris, have leveraged crypto in their campaigns to garner support from the crypto community. As the report suggests, there are four reasons that crypto has come to the center of the stage.

First of all, crypto is becoming more important to the U.S. On the one hand, no matter which candidate wins, the U.S. deficit and debt burdens are likely to go worse, and “as a decentralized and scarce asset, Bitcoin can serve as an effective tool for governments and investors to hedge against inflation and risk. In particular, it holds potential strategic significance in the face of debt and inflation pressures,” the report points out. On the other hand, stablecoins can help expand the international influence of the U.S. dollar. The growing significance leads to the second reason that the voters are more and more interested in crypto.

Thirdly, as the Biden administration implemented tight regulation on crypto, the industry now calls for a new regulatory framework which is more relaxed.

Lastly, crypto companies have become the main contributors to political donations in 2024. The report indicates that, “these funds not only influence presidential candidates’ policies but also push for congressional election strategies in favor of cryptocurrency. As a result, the crypto industry has moved from behind the scenes into the public eye, becoming a vital force in U.S. politics.”

The report then compared the two candidates’ crypto policies. Harris is expected to be more crypto-friendly than Biden. However, she has made limited statements on crypto policies, and is cautious on key issues like taxation, Bitcoin mining, and self-custody.

Trump, on the other hand, has shown strong interest in the digital asset industry, claiming that he aims to make the U.S. the “crypto capital of the planet and the Bitcoin superpower of the world”. He has proposed a series of crypto policy proposals, including creating a strategic Bitcoin stockpile, establishing a crypto Presidential Advisory Council, and barring the Federal Reserve from issuing a digital currency. The report anticipates that, should Trump win, there will be a clearer and more relaxed regulatory environment that benefits crypto startups and DeFi. Meanwhile, as Trump has promised to substantially lower U.S. interest rates if he is re-elected, the prices of crypto assets may be driven up thanks to increased liquidity.

The report also discusses the emergence of on-chain prediction markets. Compared to the centralized betting providers, they utilize smart contracts and decentralized ledgers to create transparent global markets, ensuring that these platforms are fair and tamper-proof.

Polymarket is the most successful platform in the sector, which secured 80% of the volume brought on by wagers on the U.S. presidential election. It has been adopted by multiple mainstream media outlets as an alternative news source. As a Web3 prediction market, Polymarket has surpassed its Web2 competitors and holds the largest market share, which is extremely rare. “Prediction markets’ impact has extended into various fields such as public opinion, financial hedging, and business decision-making,” the report states.

To read the full report, please visit: 2024 U.S. Election For Crypto: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation

About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.
Feel free to contact us for investment and collaboration at VC@htx-inc.com

Contact Details
Ruder Finn Asia
htx@ruderfinn.com 

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SOURCE HTX Ventures

By 2026, 40% of net-new applications in APAC are projected to be “intelligent apps” that incorporate GenAI to enhance user experiences and create new use cases.

SINGAPORE, Nov. 5, 2024 /PRNewswire/ — As businesses across the Asia-Pacific (APAC) region demand faster application development to keep pace with digitalization, AI-powered low-code solutions are enabling organizations to drive innovation and greater productivity. This is highlighted in a new IDC InfoBrief titled Mission-Critical Software, Delivered: Harnessing the Synergy of Low Code and GenAI, sponsored by OutSystems, a global leader transforming how companies innovate through software.

The research shows that over 60% of applications in APAC are legacy systems, posing hurdles like rigid architectures and high maintenance costs. The skills shortage exacerbates these issues, and modernizing these systems remains a priority for enterprises. However, outdated frameworks and low developer productivity often hinder progress. To overcome these obstacles, 68% of APAC enterprises are turning to modern development tools—including low code, integrated development environments (IDEs), and DevOps.

While low-code platforms can streamline software development by enabling faster application creation with minimal coding, AI-powered low-code solutions take this a step further by automating complex processes and delivering intelligent insights, which boost efficiency and spark innovation. As a result, 25% of APAC enterprises are now prioritizing the integration of generative AI (GenAI) into developer tools to drive more intelligent application development. This trend is consistent across the APAC region, with a notable uptake in Australia (25%), India (24%), Japan (26%), and Southeast Asia (23%).

“We are witnessing unprecedented levels of productivity and innovation unlocked for businesses in APAC through the synergistic relationship between GenAI and low code,” said Mark Weaser, Vice President, APAC at OutSystems. “In today’s competitive landscape, OutSystems is proud to remain committed to empowering APAC enterprises to deliver mission-critical applications at scale and overcome challenges such as talent shortages and evolving market demands.”

AI and Low-Code: The Future of Intelligent App Development

IDC forecasts that by 2026, 40% of net-new applications in APAC will be “intelligent apps,” which incorporate GenAI to elevate existing user experiences and unlock new use cases. Top impact areas of GenAI in software development and design include increased productivity (61%), high value dev tasks/creativity (50%), and accelerated developer velocity (40%).

Additional findings reveal that AI and automation initiatives, along with application development platforms, are among the most resilient to budget cuts, even in uncertain economic climates. In fact, 30% of APAC enterprises are willing to pay a premium of 11-20% for GenAI features integrated into app development environments.

“Our research shows that many businesses in the region are actively considering opportunities to layer GenAI with low-code technologies,” said Daniel-Zoe Jimenez, Vice President, Digital Innovation, Software, CX, SMB/DNB and Channels Research, IDC Asia/Pacific. “One of the main benefits of this integration is that it can help organizations accelerate their legacy modernization journeys. This approach can shorten the software development life cycle, while maintaining high application performance.”

Low-Code is Here to Stay for APAC Enterprises 

Low-code adoption continues to accelerate across APAC, with one-third (33%) of enterprises recognizing it as a critical tool for driving automation and future-proofing their businesses. This trend is not limited to the APAC region – IDC predicts that by 2025, more than 60% of enterprises globally will adopt low-code technologies to enable faster application delivery and improve operational efficiency.

By region, Southeast Asia and Hong Kong lead APAC respectively with 49% of enterprises prioritizing low code for automation solutions, followed by India (35%) and Australia (31%). These figures point to a continued recognition of low code’s strategic value in driving competitive advantage within a disruptive landscape, especially as businesses face demands to deliver apps and innovate more efficiently amidst economic uncertainty and a shortage of skilled developers.

“The integration of GenAI with low-code technologies is poised to meet the increasing demand for rapid application delivery and legacy modernization,” said Dhiraj Pramod Badgujar, Senior Research Manager, XOps Software Development and AI Developer Strategies Practice, IDC Asia/Pacific. “Our research reveals that organizations across the region are rapidly embracing this powerful combination to accelerate software release cycles and significantly enhance productivity.”

To review the complete findings, download the full InfoBrief here.

About OutSystems

OutSystems is a global leader transforming how companies innovate through software, empowering IT leaders with a better way to build the software that matters most. The OutSystems platform helps companies develop, deploy, and maintain mission-critical applications by unifying and automating the entire software lifecycle. With OutSystems, organizations leverage GenAI to deliver software instantaneously, adapt faster to changing requirements, and reduce technical debt by building on a future-proof platform. Helping customers achieve their business goals by addressing key strategic initiatives, OutSystems delivers software up to 10x faster than traditional development. Recognized as a leader by analysts, IT executives, business leaders, and developers around the world, global brands trust OutSystems to tackle their impossible projects and turn their big ideas into software that moves their business, people, and the world forward.

Founded in 2001, the company’s network spans more than 800,000 community members, over 500 partners, and active customers in 75+ countries across 21 industries. Learn more at www.outsystems.com.

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SOURCE OutSystems

SINGAPORE, Nov. 5, 2024 /PRNewswire/ — As a global business hub with advanced digital connectivity, Singapore is well-positioned to lead the charge in quantum-safe technologies. The 2023 Singapore Digital Connectivity Blueprint highlighted an 8.6% expansion in the Information and Communications sector in 2022, emphasizing the importance of resilience and security in a digital world. With advancements in quantum computing threatening traditional encryption methods, Singapore plans to implement quantum security technologies such as Post-Quantum Cryptography (PQC) and Quantum Key Distribution (QKD) through the National Quantum-Safe Network Plus (NQSN+).

Experience the full interactive Multichannel News Release here: https://www.multivu.com/toshiba/9298751-en-toshibas-commitment-to-a-quantum-safe-singapore

Toshiba is at the forefront of establishing a quantum-safe future for Singapore, leveraging its extensive expertise in QKD technology. With over three decades of research in quantum technology, Toshiba has shifted from academia to commercializing QKD systems. The recent opening of a £20 million Quantum Technology Centre in Cambridge, UK, underscores Toshiba’s commitment to developing quantum-secure networking solutions. This initiative addresses the vulnerabilities of traditional encryption methods, ensuring robust data security through advanced QKD technology that utilizes quantum physics principles to create resilient encryption against potential decryption attempts.

In 2021, Toshiba formed a strategic partnership with SpeQtral to develop cutting-edge quantum security solutions, combining Toshiba’s fiber-based QKD expertise with SpeQtral’s satellite QKD innovations. This collaboration has yielded significant achievements, including launching Southeast Asia’s first Quantum Networks EXperience Centre (QNEX) for demonstrations and prototyping.

The partnership has achieved significant milestones, including the first quantum-secure link across SPTel’s diverse and scalable fiber network, enhancing the security of sensitive data. The joint efforts are further solidified by the recent Memorandum of Understanding (MOU) with SpeQtral and ST Engineering to accelerate the development of tailored quantum-safe solutions, ensuring robust protection for sensitive communications across sectors such as finance and government while positioning Singapore as a leader in quantum security in Southeast Asia.

Toshiba collaborates closely with SPTel-SpeQtral to educate businesses about quantum technologies, including Quantum Key Distribution (QKD), as part of the NQSN+ initiative to create a Quantum-Safe Singapore. This partnership enhances digital infrastructure and data protection against quantum threats while fostering innovation and security for sustainable economic growth. With nearly 150 years of experience, Toshiba is committed to advancing quantum cryptography and establishing strategic alliances to secure Singapore’s digital landscape, bolstering the nation’s position in quantum technologies and cybersecurity.

Learn more about how Toshiba & SpeQtral strategic partnership drives the Quantum Security HERE.

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SOURCE Toshiba Corporation