Tag: Blockchain

TechPulse

DITE&C Accelerates Blockchain Innovation in Goa Through Industry–Academia Collaboration

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

The Department of Information Technology, Electronics and Communications (DITE&C), Government of Goa, has strengthened its commitment to advancing blockchain adoption in the State by initiating the formation of a dedicated blockchain community. This effort brings together industry leaders, academic institutions, incubators and technology experts to explore opportunities for tokenization and the broader potential of blockchain solutions. The initiative was supported by McLaren Strategic Solutions and Omnumi, a global blockchain platform known for secure, compliant and adaptable frameworks for tokenized deposits and regulated digital currencies.

The meetings, held at Paryatan Bhavan in Panjim, created a vibrant space for collaboration. Omnumi representatives, including CEO and Co-founder Kirk Chapman, CTO Sree Tirumalasetti, Chief Architect Robin Huiser, Head of Product Delivery Joe O’Rourke and Head of Service Delivery Natalie Nopareporn, engaged participants across three specialized sessions. Corporates were introduced to the fundamentals of tokenization and the capabilities of the Omnumi platform. Blockchain specialists took a deeper dive into the platform’s technical features, with discussions on multisig architecture, card integration and deployable ERC20 contracts led by Chief Architect Robin Huiser. The final session focused on academia and incubators, exploring pathways for collaboration and skill development to prepare Goa’s youth for future opportunities in digital innovation.

Shri Rohan Khaunte, Hon’ble Minister for Information Technology, Electronics and Communications, emphasized that Goa’s youth possess immense potential and that blockchain is poised to be a transformative force for them. He highlighted the State’s commitment to fostering emerging technologies and creating opportunities for young professionals.

McLaren Strategic Solutions has already established Goa as a global hub through the creation of its Development Centre last year. Now, following this momentum, Omnumi is planning to set up its own operations in Goa. Together, they aim to recruit over 200 professionals in the coming years, demonstrating confidence in Goa’s tech talent and signaling further growth in the local innovation ecosystem. Representatives from McLaren noted that Goa’s academic partners and students are highly motivated to work on real-world challenges, and the company plans to provide sandbox access to the Omnumi platform along with training and support to help bring new ideas to life.

DITE&C’s ongoing efforts to position Goa as a center for emerging technologies received strong reinforcement through these discussions. Plans for a two-day hackathon will further encourage experimentation, skill-building and the development of practical use cases. The McLaren team also proposed a Goa Tourism App powered by the Omnumi Wallet, signaling opportunities for blockchain-driven solutions across sectors. Overall, the initiative marks a significant milestone in Goa’s journey toward becoming a thriving hub for digital innovation, collaboration and technological advancement.

Human Interest

Golden 12-Foot Trump Statue with Bitcoin Unveiled Outside US Capitol Amid Fed Rate Cut

Closed Account

Written by Intern Queeny George M.H, by Team Allycaral

Washington D.C. witnessed a unique and controversial spectacle this week: a massive 12-foot golden statue of former US President Donald Trump holding a Bitcoin was unveiled outside the US Capitol on 3rd Street. The timing coincided with the Federal Reserve’s announcement of a 25-basis-point interest rate cut, linking the statue’s symbolism to broader financial debates.

The installation was funded by a collective of cryptocurrency investors who say the goal is to provoke discussion about the future of digital assets and their growing influence on global finance.

Hichem Zaghdoudi, a spokesperson for the group, stated:
“This installation is designed to ignite conversation about the future of government-issued currency and is a symbol of the intersection between modern politics and financial innovation. As the Federal Reserve shapes economic policy, we hope this statue prompts reflection on cryptocurrency’s growing influence.”

The artwork has attracted large crowds, with some praising it as a bold symbol of the rise of crypto, while others criticized it as political spectacle. The combination of Trump’s populist image and Bitcoin’s decentralized ethos makes the piece a powerful—if divisive—statement.

The statue’s unveiling also comes at a time when Bitcoin and other cryptocurrencies are increasingly being discussed in the halls of power. With the Federal Reserve moving to adjust monetary policy, the future of digital assets—and their role in the global economy—is a subject of heated debate.

Whether viewed as art, protest, or promotion, the golden Trump statue stands as a striking representation of how technology, politics, and economics are colliding in today’s world.

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Finance

India Becomes the ‘Largest Bitcoin Holder’ in Retail with $120 Billion

Tanisha Cardozo

Written by Intern Queeny George M.H , Team Allycaral

August 27, 2025: India has quietly emerged as a dominant force in global cryptocurrency holdings. With an estimated $120 billion in Bitcoin alone, India is now the second-largest holder globally, just behind the United States — and possibly leading in retail ownership.

According to blockchain data and estimates, India holds nearly a million Bitcoins, equivalent to over 5% of the global BTC supply.

India now ranks #1 in the Global Crypto Adoption Index, according to a 2024 report by blockchain analytics firm Chainalysis. Another report from Triple-A indicates that 90 million+ Indians — about 8% of the population — own some form of cryptocurrency.

This growth reflects India’s evolving financial landscape, tech-savvy youth, and increasing acceptance of digital finance.

“Crypto in India is no longer fringe — it’s going mainstream,” say analysts.

While millions are entering the market, the bulk of capital remains concentrated among a few thousand elite players.

An Economic Times report highlighted that nearly 50% of CoinDCX’s trading volume comes from just 3,500 high net-worth individuals (HNIs), family offices, and institutional investors. This trend reflects a pattern seen on other major Indian exchanges as well.

So while adoption is wide, the wealth is still top-heavy — a sign of both opportunity and imbalance in the evolving crypto ecosystem.

As regulation slowly matures and investor education increases, India’s potential to shape the global crypto economy continues to grow. Whether you’re a seasoned HODLer or a curious newcomer, the Indian crypto story is one to watch.

International

UAE Launches Digital Dirham: A New Era of Money Is Coming by End of 2025

Tanisha Cardozo

The United Arab Emirates is on the brink of a historic financial transformation. By late 2025, the Central Bank of the UAE (CBUAE) will roll out the Digital Dirham, a state-backed central bank digital currency (CBDC) designed to revolutionize everyday payments, business transactions, and cross-border remittances.

Not Cryptocurrency — A Legal Digital Currency

Unlike cryptocurrencies, the Digital Dirham is fully regulated, legally recognized, and directly backed by the UAE government. It holds the same value and legitimacy as the physical dirham and will be widely accepted across the country — from supermarkets and taxis to school payments and utilities.

Key Features of the Digital Dirham

🔹 Instant, Low-Cost Transfers:
 Built on blockchain infrastructure, the Digital Dirham enables real-time, low-fee transactions — especially useful for the UAE’s expat community, which sends billions of dirhams abroad annually. During a trial involving China and India, a Dh50 million transfer was completed in just seven seconds.

🔹 Accessible to All:
 No bank account? No problem. Through dedicated digital wallets offered by banks, exchange houses, and fintech apps, the Digital Dirham is designed to be inclusive, ensuring even unbanked residents can participate in the digital economy.

🔹 Blockchain-Powered Security:
 Every transaction will be recorded and traceable, minimizing fraud and making the system more secure than cash.

🔹 Smart Contract Integration:
 Recurring payments such as rent, subscriptions, or EMIs can be automated using smart contracts, simplifying financial management. This also enables tokenization of assets and new forms of investment.

What It Means for You

The Digital Dirham will function just like cash — it can be used to pay for groceries, fuel, school fees, and more. But the difference lies in its speed, security, and flexibility. You’ll be able to make instant payments online and in-store, without needing a physical card, and avoid high transfer fees when sending money abroad.

It will also improve interactions with government services, such as paying fines, renewing licenses, or submitting business fees — all in a seamless, digital experience.

Part of the UAE’s FIT Program

This launch is a major pillar of the Financial Infrastructure Transformation (FIT) initiative, which aims to create a modern, interconnected, and cashless economy. It follows the introduction of a new Dirham symbol earlier this year — a stylized ‘D’ with two horizontal lines — reflecting the country’s modern monetary vision.

The Future of Money Is Here

The UAE’s embrace of the Digital Dirham positions it as a global leader in financial innovation. As the 2025 rollout nears, residents can expect even more convenient and secure financial services, paving the way for a faster, smarter, and fully digital economy.

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Reliance Jio Enters Web3 and Blockchain Space with ‘Jio Coin’ Launch

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In a surprise move, Reliance Jio, India’s largest telecom operator, has officially entered the Web3 and blockchain universe with the launch of ‘Jio Coin’. This significant development marks Jio’s foray into the rapidly growing blockchain and cryptocurrency space.

What is Jio Coin?

Jio Coin is a blockchain-based platform that aims to provide a secure, decentralized, and scalable infrastructure for various use cases, including cryptocurrency, non-fungible tokens (NFTs), and decentralized finance (DeFi) applications. The platform is designed to leverage the power of blockchain technology to create a trusted and transparent ecosystem.

Key Features of Jio Coin

  • Decentralized Network: Jio Coin operates on a decentralized network, ensuring that data is stored and managed in a secure and transparent manner.
  • Blockchain-based: The platform utilizes blockchain technology to facilitate secure, fast, and low-cost transactions.
  • Scalability: Jio Coin is designed to support a high volume of transactions, making it an ideal platform for large-scale applications.
  • Interoperability: The platform enables seamless interactions between different blockchain networks, fostering a connected ecosystem.

Implications of Jio Coin’s Launch

The launch of Jio Coin has significant implications for the Indian blockchain and cryptocurrency landscape. With Jio’s massive user base and extensive network infrastructure, Jio Coin has the potential to accelerate the adoption of blockchain technology and cryptocurrency in India.

What’s Next for Jio Coin?

As Jio Coin begins its journey, the company is expected to announce more details about its roadmap, partnerships, and use cases. With its strong foundation in telecommunications and its commitment to innovation, Jio is well-positioned to make a significant impact in the Web3 and blockchain space.

Stay Tuned for Updates

As the story unfolds, we will provide updates on Jio Coin’s progress, partnerships, and innovations. Follow us for the latest news and insights on Jio Coin and the Indian blockchain ecosystem.