Venom Foundation secures ADGM license ahead of launch of Venom blockchain
“We should now focus on establishing the right platforms to allow the emergence of the new conversations needed for these ecosystems tackling the intersections between the technological, economical, and societal dimensions to make way for a more technologically efficient and humanly rewarding future during all these rapid changes.”
Venom Foundation has secured a license to operate a blockchain and issuing utility tokens from the Abu Dhabi Global Market (ADGM) in a further step toward the launch of Venom Blockchain in November.
The Venom blockchain boasts an asynchronous blockchain technology of dynamical sharding and aims to become a platform that will bring novel customized approaches to the market.
Venom offers non-custodial wallet, scan, bridge, pools, DEX
The foundation operates in three fronts in order to develop new solutions for existing issues on the crypto market: Essential Infrastructure, Support of Inbound Projects, and Developer-friendly Platform.
The MENA operation will mostly focus on technology that enables major corporations and companies to conduct an easy and secure transition into Web3 globalization, as well as managing the gross data transaction flows without faltering by increasing fees and transaction times.
The Venom Foundation has already developed a few solutions, including:
- a non-custodial Wallet (VenomWallet mobile application and Desktop Browser Extension) with a Multisig accounts option and Ledger support
- VenomScan (to keep everything transparent with access to transactions history),
- VenomBridge (allowing the interchain transactions to be made fast, while low price),
- VenomPools (to stake on Validator nodes), VenomGet (an easy gateway to Venom tokens),
- Web3.World (native decentralized exchange)
Venom plans to launch NFT marketplace, derivative exchange, stablecoin
The foundation will engage individual developers, companies, and government authorities to establish new products such as NFT marketplace, Derivative Exchange, fiat-backed stablecoin, and more.
Osman Sultan, board adviser of the Venom Foundation, said: “All industries are currently going through a profound transformation, one that is enabled by the acceleration of capabilities offered by technology. The astonishing disruption induced by social networks is driven by the quest to find economically viable ecosystems. We should now focus on establishing the right platforms to allow the emergence of the new conversations needed for these ecosystems tackling the intersections between the technological, economical, and societal dimensions to make way for a more technologically efficient and humanly rewarding future during all these rapid changes.”
