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Trustless Bitcoin Staking Protocol Babylon Launches on Mainnet

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The Babylon Bitcoin Staking Mainnet Phase-1 launch represents a major milestone in the integration of Bitcoin‘s security into the proof-of-stake (PoS) ecosystem.

TORTOLA, British Virgin Islands, Aug. 19, 2024 /PRNewswire-PRWeb/ — Babylon, the self-custodial Bitcoin Staking Protocol that aims to build a Bitcoin-secured decentralized world, will launch Phase-1 mainnet on August 22, 2024. Following its $70M raise, led by Paradigm, the Babylon Bitcoin Staking Mainnet launch represents a major milestone in the integration of Bitcoin‘s security into the proof-of-stake (PoS) ecosystem. Babylon Bitcoin Staking Protocol allows Proof-of-Stake (“PoS”) systems such as PoS chains, L2s, Data Availability (DA) layers, oracles, etc. to gain staking from Bitcoin, the largest, decentralized crypto asset in the world.

“This launch leads to the third native use-case of bitcoin the asset beside value storage and simple payment: stake to secure networks and earn.”

Babylon Bitcoin Staking Mainnet will be launched in phases. The upcoming Phase-1 will address the supply side of the two-sided market by allowing Bitcoin holders to lock their bitcoins with the self-custodial Bitcoin staking script on the Bitcoin chain. Future phases of the Bitcoin protocol will let PoS networks launch with the crypto-economic security of staked bitcoins.

To maximize system security, the Bitcoin staking system will have an initial cap of 1,000 bitcoins. The Babylon Bitcoin Staking Mainnet is supported by over 200 finality providers, which are similar to PoS validators in that they receive voting power delegations from BTC stakers and can earn commission from the staking rewards. The mainnet integrates finality providers, including industry leaders, such as Allnodes, Figment, Galaxy Digital, Luganodes, P2P, Stakefish, and more.

Leading wallets, including Binance Web3 Wallet, Bitget Wallet, Imtoken, Keystone, OKX Web3 Wallet, OneKey Wallet, and TomoWallet, have integrated with the Babylon Bitcoin staking ecosystem, enhancing accessibility and user experience. Additionally, the mainnet integrates Liquid Staking Token protocols (LST’s), such as Acorn, Babypie, Bedrock, Chakra, Kinza, Lombard, Lorenzo, Nomic, pSTAKE, PumpBTC, Solv, demonstrating a commitment to fostering a diverse and resilient Bitcoin staking ecosystem.

David Tse, Co-founder of the Babylon project, said, “We are thrilled to announce the launch of the mainnet, a major step in our mission to make the largest crypto asset the security backbone of PoS systems. Our team is dedicated to advancing the utility of Bitcoin beyond its traditional roles.”

Fisher Yu, Co-founder of the Babylon project, said, “This launch leads to the third native use-case of Bitcoin the asset beside value storage and simple payment: stake to secure networks and earn. We expect this to enhance the crypto-economic security of PoS chains and other decentralized applications, offering them a more secure and reliable infrastructure, while at the same time unlocking the value from the idle, unencumbered $1 trillion Bitcoin ecosystem.

Binance Web3 Wallet representative said, “Binance Web3 Wallet is thrilled to be among the first to support Babylon’s mainnet launch. Our goal has always been to provide users with seamless access to on-chain explorations while supporting top-tier projects in their early growth stages.”

Jason Lau, OKX Chief Innovation Officer, said, “For over 10 years, we’ve been at the forefront of supporting Bitcoin innovation and growth, focusing on expanding access to and increasing the usage of Bitcoin. With the launch of the Babylon Bitcoin Staking Protocol, OKX Wallet’s web extension users will now have seamless access to a new use-case for their self-custodied Bitcoin. We can’t wait to see how the community builds on this new primitive.”

Alex Esin, Chief Executive Officer, P2P said, “We are incredibly excited about the opportunity to support and actively participate in the development of Babylon. From the first testnet to the mainnet. It opens up incredible opportunities for BTC holders and contributes to a significant transformation of the BTC-based DeFi landscape. A historic moment!”

Jacob Phillips, Co-Founder, Lombard said, “By enhancing the supply side into Babylon, Lombard will enable Bitcoin holders and institutions to earn yield by staking their BTC with the Babylon protocol, as well as also providing them with a DeFi-compatible liquid asset they can deploy across protocols. This dual benefit unlocks new possibilities for Bitcoin in the decentralized economy, potentially allowing billions in bitcoin into the Web3 ecosystem.”

Babylon’s journey has been marked by significant milestones, including the launch of the world’s first trustless Bitcoin staking testnet in February 2024. The testnet, which saw over 100,000 stakers within 48 hours, demonstrated the platform’s potential to evolve Bitcoin into the security backbone of PoS systems. This achievement not only showcases the Babylon protocol’s technical prowess but also its commitment to creating a secure, decentralized economy.

To track the countdown to mainnet launch, follow @babylonlabs_io on X. For more information about Babylon, please visit the website.

For media inquiries, please contact Dayana Aleksandrova at (310) 260-7901 or dayana(at)melrosepr(dot)com.

About Babylon
Babylon is a project that designs Bitcoin security sharing protocols with a vision of building a Bitcoin-secured decentralized world. Its latest development is the world’s first trustless and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on Proof-of-Stake (PoS) systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling them to earn yield without the need for third-party custody, bridge solutions, or wrapping services. Babylon’s approach combines the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin‘s utility. Babylon was founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu. Professor Tse is a member of the U.S. Academy of Engineering and is renowned as the inventor of the legendary proportional-fair scheduling algorithm for wireless communications. Babylon is led by a team of consensus protocol researchers and experienced layer 1 engineers from around the world.

For more information about the Babylon project, please visit:
Website: http://www.babylonlabs.io    Twitter: https://twitter.com/babylonlabs_io

Media Contact

Dayana Aleksandrova, Babylon Labs, (310) 260-7901, dayana@melrosepr.com, https://babylonlabs.io/ 

View original content:https://www.prweb.com/releases/trustless-bitcoin-staking-protocol-babylon-launches-on-mainnet-302224971.html

SOURCE Babylon Labs

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SecurityGen and NEC Team Up to Strengthen Cybersecurity Operations for Indonesian Telcos

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Harnessing future-ready solutions and expertise to safeguard Telecom networks against emerging threats

JAKARTA, Indonesia, Sept. 24, 2024 /PRNewswire/ — In a significant development for telecom cybersecurity, SecurityGen, an award-winning global leader in telecom cybersecurity, and PT NEC Indonesia, a leader in IT, network and AI technologies and a multi-vendor system integrator, have announced a partnership to strengthen telecom network defences across Indonesia. This alliance brings together SecurityGen’s cutting-edge security solutions and NEC’s extensive expertise in telecom infrastructure in a bid to combat a spectrum of increasingly advanced cyber threats.

The partnership aims to enhance the performance, reliability, and security of telecom networks throughout the region with SecurityGen providing future-ready threat-informed defence platform, comprising its Breach Attack platform and Monitoring system, and NEC offering crucial professional services to support and optimize these advanced security solutions. SecurityGen will also ensure rapid, effective deployments through comprehensive training and onboarding. By focusing on future-proofed solutions and fostering local talent, this partnership supports NEC’s vision of bolstering its security-as-a-service offering and solidifying its position as a trusted partner for Indonesian telcos.

This collaboration becomes even more vital given the speed with which telecom networks are evolving – making them increasingly complex and vulnerable. Unfortunately, traditional security measures are not effective enough anymore. By integrating advanced, AI-powered threat intelligence with automated security systems, this partnership aims to provide telco SOCs with unprecedented visibility into signalling traffic and robust validation against real-world attacks. This proactive approach, with in-built remediation, will not only mitigate breach risks but also equip security teams with the essential tools and expertise to counteract sophisticated cyber threats and maintain business resilience.

Amit Nath, Co-Founder & CEO of SecurityGen, said, “Our partnership with NEC is a crucial step towards fortifying Indonesia’s telecom sector with the expertise and tools essential for securing modern networks and operations. Together, we’re committed to building local competencies and implementing advanced, research-driven strategies to ensure the long-term security and resilience of the telecom infrastructure.”

Joji Yamamoto, President Director of NEC Indonesia said, “”In Indonesia, we have seen rapidly increasing growth of cloud services, and connected devices and subscribers for IoT use cases. NEC Indonesia welcomes the partnership with SecurityGen to join forces in advancing network security in Indonesia to protect information assets through the introduction and operation of measures against cyber-attacks.”

***

About SecurityGen
Founded in 2022, SecurityGen is a global leader in telecom security. We provide a solid security foundation to drive secure telecom digital transformations and ensure safe and robust network operations. Our extensive product and service portfolio offers complete protection against existing and advanced telecom security threats. www.secgen.com

About PT. NEC Indonesia

NEC first established its Jakarta Representative Office in 1968. Through the years, PT. NEC Indonesia recognized the importance of instituting telecommunications infrastructure for the country and has introduced several NEC technologies and solutions. This has resulted in PT. NEC Indonesia achieving the market leader position of being a total solutions provider for the Indonesian telecommunications industry.

Today, with its headquarters in Jakarta, PT. NEC Indonesia continues to play a significant role in providing total telecommunications and IT business solutions to its customers in the government and enterprise businesses. For more information, please visit http://id.nec.com/ 

 

 

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/securitygen-and-nec-team-up-to-strengthen-cybersecurity-operations-for-indonesian-telcos-302256352.html

SOURCE PT. NEC Indonesia

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Patricia Calderon, Global Head of Water of CDP: How to drive water action across supply chains

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JAKARTA, Indonesia, Sept. 24, 2024 /PRNewswire/ — This is an article from Patricia Calderon, Global Head of Water of CDP:

Supply chains are the knots that tie our global economy together and allow it to operate as it does.

In recent years those knots have become more complex and fragile.

Major trade routes can be held up by conflict, politics, or simply a container ship running aground. The world is deeply dependent on pinch points functioning with high volumes of traffic and little to no barriers. Below that level exist smaller, more intricate threads which have built up over time, across borders and through river basins.

The fragility now baked into the system is, in part, a result of our changing climate and the unsustainable nature of supply chains. Building resilience within supply chains to adapt to frequent extreme weather events is now crucial. Lessening their environmental impact is part of the same equation.

Deep dive

New research from CDP, the global non-profit leading the world’s environmental disclosure system for companies, cities, states, and regions, has examined the problem using data directly from companies.

We looked at 3,163 large companies with an annual revenue of more than EUR/ US$250 million. These companies disclosed to CDP’s annual water security questionnaire. A total of 1,542 companies – 50% – responded that they are engaging their supply chain on water risks. This includes inserting water requirements into supplier contracts, collecting water data, raising awareness of water issues, or collaborating on innovation.

Further analysis provides a unique insight into how some of the world’s largest brands are grappling with water issues. 1 in 5 companies are facing supply chain risks which could have a substantive financial or strategic impact on their business. These risks were estimated to total US$77 billion. And according to 79 businesses, a total of US$7 billion was deemed to be at immediate risk due to urgent water scarcity, food, regulatory and reputational issues.

Stem the tide

The data is clearly telling us our water supplies are becoming ever more fragile and the financial toll is mounting up. It’s down to large companies with the biggest water impacts to take immediate action, working with their suppliers to stem the tide of water risk.

Our research points to some of the tools currently being used by responsible companies – financial incentives, stricter contracts, and closer engagement are key. A group of forward-thinking businesses are already working on the problem. 443 businesses – 14% – offer their senior leaders, including the board, incentives to improve water management across the supply chain. A smaller group provide direct financial incentives to their chief procurement or purchasing officers.

Buyers and suppliers need to collaborate to ensure sustainability is a business norm. Recognizing it as a key differentiator among suppliers will be essential going forward. If we fail to address these issues the mounting financial impact of water risks will become all too apparent.

Going beyond

The report makes a strong case for companies to take immediate action on water issues in their supply chain and offers six key steps for companies. Each one of these indicators follows from the next: assess supply chain risks and impacts; set global targets; incentivize executives to act; include water in supplier requirements; engage with suppliers; and incentivize and support suppliers.

Ensuring supply chains can build resilience, reduce water risks, and keep our economies going is within reach. But to do so quickly and comprehensively we need to go beyond voluntary measures. The bar should be raised much higher in order to close the gap between where we are now and need to be.

Stronger regulation for mandatory disclosure and transparent reporting mechanisms are imperative to drive progress. This requires a combined approach with government policy, industry standards, and stakeholder engagement all playing a role.

View original content:https://www.prnewswire.com/apac/news-releases/patricia-calderon-global-head-of-water-of-cdp-how-to-drive-water-action-across-supply-chains-302254990.html

SOURCE CDP

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J-Stories launches special page to report on largest Japan-Taiwan summit bringing together startups and investors in the region

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This year’s event in Tokyo expanded to its largest scale yet amid growing interest in Taiwan’s dominant semiconductor and AI sectors

Japan’s solutions-focused news service J-Stories is an official media partner of the 2024 Japan-Taiwan Innovations Summit. Here’s J-Stories’ special page where summit-related stories are featured in partnership with Startup Island TAIWAN, Taiwan’s national startup brand. J-Stories is run by Tokyo-based media agency Pacific Bridge Media & Consulting.

TOKYO, Sept. 23, 2024 /PRNewswire/ — The 2024 Japan-Taiwan Innovation Summit, the largest startup event to date featuring Japanese and Taiwanese aspiring to expand overseas, was held this month (Sept.17-18) in central Tokyo. Over 1,000 participants from various sectors – including politics, academia, large business and media – engaged with approximately 70 innovative startups over the two days.

The annual summit, which started two years ago, expanded further from previous years, incorporating cutting-edge industries, including AI, biomedical science, cybersecurity, digital services, fintech, defense and aerospace.

The two-day event was co-hosted by Taiwan’s National Development Council (NDC), a government body of Taiwan, and the Tokyo Metropolitan Government. Tokyo-based media agency Pacific Bridge Media & Consulting also supported the event as the official media partner, featuring various reports and videos about the event on a special online page, bridging the gap between Taiwan’s top entrepreneurs and the startup community in Japan.

Discussed among the main topics were Taiwan’s booming semiconductor supply chain and its uninhibited growth potential within the next decade. Taiwan’s leading chipmaker, TSMC, was launched as a startup more than three decades ago with the support of the Taiwanese government. Now, the international company is building factories in southern Japan, giving those in Tokyo high hopes for Taiwan’s investments in bumping up semiconductor production capabilities and building more factories in Japan.

At this year’s summit, it was not only Taiwanese entrepreneurs who took the floor, but also Japanese startups. The summit featured a significant number of Japanese participants from financial institutions, venture capitalists, and trading companies. This increased Japanese involvement is expected to strengthen the JapanTaiwan network and contribute to the development of a thriving international ecosystem.

To start Day 1, Taiwan’s NDC Minister Liu Chin-Ching (Paul Liu), the Taiwanese delegation leader for this summit, took the stage. Minister Liu stated: “We are implementing the ‘Bridge Plan’ to expand innovation internationally. While we have been advancing innovation domestically in Taiwan, our future goal is to pursue international collaboration, with Japan being our first partner.” He emphasized the significance of Japan and Taiwan’s collaborative efforts. 

A video message from Tokyo Gov. Yuriko Koike was shown following Liu’s speech. She emphasized, “Taiwan and Japan have built a strong cooperative relationship. Let’s join forces between Tokyo and Taiwan to launch significant innovation.”

Among the speakers was Kei Furukawa, an Investment Partner at UTokyo IPC, who gave a lecture titled “Innovation and Startup Development Systems at the University of Tokyo VC,” discussing the advancement of innovation and entrepreneurship through collaboration between government and universities in Japan.

Additionally, there were presentations from Japanese and Taiwanese startups and innovation companies, speeches by notable guests, and more. The summit concluded with an invitation-only opening ceremony for the Taiwan Startup Tokyo office and a gala dinner with investors.

Visit J-Stories’ special page here:
https://jstories.media/jp/specials/jtis

Event Overview:

Name: 2024 Japan-Taiwan Innovation SummitDate: September 17 (Tuesday) – 18 (Wednesday), 2024, 10:00 AM – 5:00 PMVenue: Tokyo Innovation Base (TiB) 2nd Floor (3-8-3 Marunouchi, Chiyoda-ku, Tokyo, in front of Yurakucho Station)Format: On-site participationLanguages: Chinese, Japanese, and English (with simultaneous interpretation)Organizer: Startup Island TAIWAN

For more information on the Japan-Taiwan Innovation Summit 2024, please click here:

https://togethergobig.jp/en-summit

About J-Stories:

J-Stories is an online news platform that communicates innovative ideas, products, and technologies from Japan that address global issues to audiences and investors worldwide in Japanese, English, and Chinese. As the media partner for the “2024 Japan-Taiwan Innovation Summit,” J-Stories will be publishing articles about the summit before and after the event. J-Stories is run by Tokyo-based multilingual media agency Pacific Bridge Media & Consulting.

To receive the latest articles from J-Stories, please subscribe to our newsletter by emailing: jstories@pacificbridge.jp

View original content to download multimedia:https://www.prnewswire.com/news-releases/j-stories-launches-special-page-to-report-on-largest-japan-taiwan-summit-bringing-together-startups-and-investors-in-the-region-302256454.html

SOURCE PACIFIC BRIDGE MEDIA AND CONSULTING

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