According to a news statement dated January 18, the capital markets advice and token offering platform Deal Box, which is located in the United States, has formed a new venture capital arm with a total of $125 million in funding targeted to blockchain and Web3 firms.
Deal Box Ventures is the name given to the fund that will be used to make investments in businesses operating in the rising growth, real estate, fintech, funtech, and social impact industries.
Thomas Carter, founder and chairman of Deal Box, issued the following statement in response to the recent development: “Deal Box Ventures is an important milestone in our journey to invest in the most promising and disruptive blockchain startups. We will provide these startups with the tools and funding ecosystem they require to be successful by simplifying and reimagining the traditional financing models.”
Deal Box has made first investments in the companies Total Network Services, Rypplzz, and Forward-Edge AI by purchasing shares in each of those companies.
Blockchain technology is used by Rypplzz in order to link digital and physical things for the purpose of creating location-based experiences.
While Total Network Services claims to have created a blockchain Universal Communication Identifier to increase supply chain security, Forward-Edge AI claims that it employs the same technology to strive to better the human condition.
Deal Box was an industry leader in offering legal, accounting, and capitalization table advisory services to startup founders before it launched its investment arm.
The issue of tokenized bonds or stock by companies as a means of gaining access to investor money is one of the aspects of its emphasis that pertain to digital securities.
The company claims to have more than 500 customers since it was established in 2005.
At the World Economic Forum (WEF) 2023, which was hosted in Davos, Switzerland, South African Reserve Bank (SARB) governor Lesetja Kganyago addressed some of the difficulties that surround the adoption of central bank digital currencies (CBDCs).
A panel discussion at the World Economic Forum in 2023 titled “In the Face of Fragility: Central Bank Digital Currencies” will be held. Kganyago shared his thoughts on CBDCs and questioned if there is a genuine issue that can be remedied by using this innovative technology.
Kganyago questioned whether or not this was a case of a solution seeking for a problem, or whether or not there was a genuine issue that needed to be addressed.
The governor of the central bank also brought up the fact that the nations who are looking into CBDCs and doing research on them have cited a number of different reasons for wanting to establish them.
This involves bringing the central bank up to date, improving the efficiency of national payment systems, addressing the failure of domestic markets, and ensuring that everyone has access to sufficient financial resources.
On the other hand, the official from the government brought up the issue of demand.
Before CBDCs can be implemented, there has to be a discussion on a national level, as Kganyago pointed out.
He stated that before making this available to the general public, central banks should first determine whether or not the general public is interested in using it.
In light of these arguments, Kganyago said that the South African Reserve Bank (SARB) is approaching the issue of CBDCs with extreme caution. According to what he had to say, ” We are going to be excellent pupils when it comes to retail CBDCs,” and ” I would rather be a follower than a first mover.”
Back in 2021, the governor of the SARB expressed his disagreement with the notion that cryptocurrencies should be classified as currencies.
The official from the government said that cryptocurrency only satisfies two of the three standards for currencies, and argued that it does not have widespread usage.