According to SIMBA Chain, the investment will go toward developing blockchain applications that will be used by several government organizations.
Blockchain News

Blockchains are the critical infrastructure underlying cryptocurrencies. The common feature of these distributed ledgers is the sequential updating of a cryptographically secure, verifiable transaction record among a network of peers all operating under a certain set of rules enforced through the software itself. This record is owned and operated in common by anyone anywhere.
While research in shared ledger technology goes back decades, the arrival of the Bitcoin blockchain introduced the first distributed ledger technology that was thoroughly decentralized and resistant to censorship, seizure and collusion.
Blockchain technology, in its various manifestations including the Ethereum blockchain and others, is ultimately a global consensus system — i.e., it allows people to coordinate and cooperate around a neutral source of information without trusting each other or a central administrator. The use cases are wide-ranging, from finance and energy trading to supply chain management.
At Cointelegraph, we are chronicling the evolving blockchain industry. Is it revolutionary or overhyped? Or both? Will it become the solution to securing trust in finance and global trade? What will be the rate of blockchain transactions in the coming years?
Stay tuned to find out.
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- Opinion
Dogecoin shifting to proof-of-stake would be good for the environment, but what impact would it have on miners and ASIC manufacturers?
3237 - News
The program aims to provide selected projects with upfront seed funding of $30,000 in addition to mentoring, masterclasses and support from industry experts.
2894 - News
This is the first Ethereum public test since the Merge upgrade in September 2022. Developers said further testnets would be triggered in the coming week.
3971 - News
The electric vehicle maker earned $64 million in profits from Bitcoin trading, which was offset by a $204-million impairment.
4110 - Overview
Bitcoin documentaries can serve as a tool for advocacy, helping to promote the adoption and acceptance of Bitcoin and other cryptocurrencies.
5217 - News
After its successful security audit, the algorithmic stablecoin, Djed, from DeFi service provider COTI, deployed on the Cardano mainnet.
6933 - Spotlight
A Hard Working Man digital collectibles represent the latest evolution in NFT utility as music, art and technology collide.
4358 - News
According to CoinShares, digital asset investment products saw $117 million in inflows last week.
5591 - Spotlight
Access to the internet and mobile services is not as widespread as most think, and blockchain can serve as a remedy.
10572 - News
The community has been divided as to whether the nonfungible token-like “digital artifacts” are the right fit for the Bitcoin space.
5298 - News
An internal conflict at the privacy-focused Secret Network has resulted in at least one validator throwing in the towel.
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The scammer referred to their pseudonym during a blockchain message argument that may have revealed their actual identity, according to CertiK.
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Bitcoin's huge price surge in January has meant that 64% of Bitcoin investors are in profit, according to data from IntoTheBlock.
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Aronow said he would still contribute as a board member and strategic adviser. However, his priority will be getting the best medical treatment he can to recover fully.
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