Category: World

  • Evolvement of MMA in the Eyes of Mark Coleman

    “Mark Coleman, MMA fighter and the ‘Godfather of Ground-And-Pound’ shares his views on the current happenings and the evolving mixed martial arts.”

    Fremont (Ohio) [USA], July 30: Mixed martial arts, also referred to as cage fighting at some places, is an art of fighting which is a concoction of grappling, wrestling, and many more, all of which are taken from different martial art forms. In the last few decades, MMA has received a lot of hate, with people questioning the exact identity of the sport and the fighters losing their lives in the fight owing to no proper rules and guidelines. But, in recent years, MMA has started to evolve drastically with more fighters cross-training legitimately, and many procedures have been put forward to ensure the credibility and the safety of the sport.

    Mark Coleman, ‘The Godfather of Ground-And-Pound’ an NCAA championship, a World Championship silver medal winner, and a qualifier for the 1992 Olympics, was quite optimistic in his views towards the evolution of the sport. He has mentioned that it would be a good opportunity for the fighters to take part through the UFC and adequately practice the sport, with clear rules and boundaries. After some mentions regarding Ground-And-Pound fighting negatives, he implies that he is happy for the stand-up game, which takes place only when the fighters are on their feet. According to him, ‘the guys are really amazing on their feet.’ He also ponders on the monetary advantages provided right now compared to his time. It’s ‘full time’ now with over three to four coaches, as per his words, and the players can grow up to their potential without worrying about things like providing for themselves.

    “I love the opportunities fighters are getting. I am a big fan of bare-knuckle boxing. I love it, and I think it will continue to climb.”- Mark Coleman.

    When UFC expands their validation, the players are getting underpaid, and the hate on Dana White, the president, Coleman conveys his views. He mentions that the president has done what he could, and there has to be some credit given to him for that. He also recalls the pay the players were receiving back then and says that the revenue of the current players is quite good.

    The trend of celebrity boxing has peaked in recent times, which is apparent with the number of views Logan Paul, a famous YouTuber, has received, fighting Floyd Mayweather, similar to Jake Paul’s video of facing off with a former UFC player. Coleman believes that these are just advantages to the players as they tend to get more exposure, which might attract more people to watch their matches later on. He also appreciates Paul’s growth on YouTube and the hard work they are putting in ‘to be the best boxers they can be.’ They might also be a part of the MMA someday, says Coleman, leaving the viewers stunned with curiosity.

    Age doesn’t tamper with the passion one has for what one loves, which is patent in the case of Mark Coleman. Despite his retirement 11 years back, he cherishes the sport and the memories he has in it.

  • Green City Group Asia (GCG Asia) Founder Edmund Ho Receives Leadership Award for Outstanding Commitment to Advancing Green Building

    Kuala Lumpur [Malaysia], July 15: The founder of leading sustainable property developer Green City Group Asia (GCG Asia), Edmund Ho, was awarded Outstanding Leader by the Asian Green Building Commission (AGBC) with the 2021 Asia Leadership Award for his and GCG Asia’s Outstanding Commitment to Advancing Green Building.

    GCG Asia Founder Edmund Ho joins other winners of this prestigious award, which includes organisations, initiatives, and business leaders in Asia who are using green construction techniques and integrating sustainability measures into property development. This year’s winners were honoured at an online ceremony according to an official announcement.

    “I am honoured to receive this prestigious award and to join my peers in the industry across Malaysia, Singapore, Indonesia, Cambodia, and across Asia who are green building professionals and who have maintained their dedication to green construction and sustainable communities while adjusting to changing circumstances,” said GCG Asia Founder Edmund Ho.

    “This award means a lot after a difficult year in 2020. In 2021, this award will inspire GCG Asia to reach greater heights via the power of green building to continue our efforts towards aiding in the safety and health of our communities,” said GCG Asia Founder Edmund Ho in an official statement.

    GCG Asia founder Edmund Ho established the business in 2015. Since then GCG Asia has made a name in boutique green developments in Singapore, Malaysia, and Indonesia. Its flagship developments under the Capital Asia brand are known to conform to the highest standards in green construction. All buildings within the development are all Gold or Platinum LEED-certified buildings and are combined with smart city technology solutions that offer increased energy usage efficiency and enhanced air pollution monitoring.

    “Our mission is to improve and enhance people’s lives by creating Asia’s most sustainable and intelligent developments, an excellent location for living, recreation, and business,” said GCG Asia Founder Edmund Ho.

    “We are honoured to win such a distinguished award and to have been acknowledged by a renowned sustainability organisation. This is another significant milestone for us. As the GCG Asia founder and CEO, I am raising the bar to aim towards becoming one of the world’s leading developers of sustainable communities. We appreciate the Asian Green Building Commission (AGBC) efforts and are sure that such recognitions will encourage more businesses to join in this noble cause,” said GCG Asia Founder Edmund Ho.

    GCG Asia Founder Edmund Ho explained that the company develops boutique contemporary, creative, and genuine innovations, and seeks to be a legitimate enhancement to people’s lives and improve the entire quality of how they live, work, and prosper.

    GCG Asia Founder Edmund Ho in recent years has collaborated with industry leaders and experts to integrate architectural lessons from his East Asian heritage with the latest in eco-friendly technologies to create a new approach to property development. “I strongly feel that incorporating both traditional and modern methods in order to preserve the environment is very necessary and I’ve embedded that into the company DNA,” explained GCG Asia Founder Edmund Ho.

    The 2021 Asian Green Building Commission (AGBC) Leadership Award winners reflect the finest of the organization’s network of professionals responsible for developing real estate projects across Asia. A review of past winners such as GCG Asia Founder Edmund Ho stands out as outstanding examples of sustainable leadership among a robust and expanding network of projects, businesses, and people.

    GCG Asia is a rising star in sustainable construction. GCG Founder Edmund Ho said he has plans to expand its flagship brand Capital Asia to other markets and into other sectors such as co-working spaces and eventually larger township development.

    Company Information

    GCG Asia is a leading boutique green developer based in Kuala Lumpur.

  • Dr. Jitendra Matlani, Dubai based Indian business tycoon sends 50 oxygen concentrators from Dubai to India

    (L) Shri Surendra Kandhari and (R) Dr. Jitendra Matlani

    Dubai [UAE], July 13: Dubai-based Indian business tycoon, Dr. Jitendra Matlani once again came forward and sent a big help to India. He sent 50 oxygen concentrators of 10 litres to India. Recently, Hon’ble Chief Minister of Madhya Pradesh Shri Shivraj Singh Chouhan had online video conferencing with Dr. Jitendra Matlani. During this, Matlani had informed that he would send 50 oxygen concentrators from Dubai to India. 40 Oxygen Concentrators for Hon’ble Chief Minister’s Office in Bhopal, 5 Oxygen Concentrators for Rotary Club Gwalior, and 5 Oxygen Concentrators for Rotary Club Gorakhpur.

    In this way, Dr. Jitendra Matlani arranged for sending a total of 50 oxygen concentrators. Shri Surendra Kandhari, the President of Guru Nanak Darbar of Jabel Ali, fully supported him. The consignment was sent to Mumbai-based Guru Nanak Quinn Centenary Memorial Hospital Trust for customs clearance and GST exemption from the Government of India.

    It was well handled by the Chairman of the Trust Mr. Sarabjit Singh and Mr. Tony Kohli and handed over to the Hon’ble Chief Minister’s Office Bhopal Madhya Pradesh for logistics and transportation to Madhya Pradesh Public Health Services Corporation Limited. Dr. Jitendra Matlani said, will always be available to serve the motherland.

    Last year during the lockdown Dr. Jitendra Matlani understood the pain of stranded Indians in UAE. He booked a charter flight in his name and repatriated almost 350-400 Indians from UAE. They were mainly from Madhya Pradesh, Gujarat, and Maharashtra. Since the beginning of the Covid-19 era, he has stood strong and helped people as much as humanly possible.

  • Danube Group beckons people to move to Dubai to live and work

    For the people going to Dubai to work, live or buy a property there, Danube Group presents an excellent opportunity to choose from the choicest range of options offered by the conglomerate.

     New Delhi [India], July 7: Dubai with its shiny skyscrapers, picturesque locations, and beaches has already gained limelight among the ex-pats looking to move somewhere they can get an abundance of success and growth not only professionally, but personally too.  Considering that Dubai is a fantastic place to live and work, Danube Group, the Dubai-based multi-billion-dollar conglomerate has a lot to offer to people to move to Dubai for a variety of reasons.

    Already there is a long history of celebrities and eminent people living in Dubai, but that’s not all about rich and famous, many others also choose to move to Dubai for a rewarding and fulfilling life.  While Dubai with its thriving business economy presents abundant employment opportunities in various fields and industries, it also offers tax-free income to its residents, besides providing a one-of-a-kind opportunity to be exposed to not only the traditional middle-east culture, but a global lifestyle as Dubai is a melting pot of globalisation with a real community feel.

    Mr. Rizwan Sajan, Chairman, and Founder of Danube Group said, “While the people of Dubai are very warm and friendly, one can find a mix of cosmopolitan and traditional culture in Dubai with people always with a smile on their face and willing to help each other. Moreover, the cost of living in Dubai is also very-very reasonable if you compare it with any other cosmopolitan city across the globe. Pleasant weather, beautiful beaches, an abundance of entertainment, and above all tax-free income are the other attractive reasons for the people to move to Dubai for a rewarding and fulfilling life.”

    Chairman & Founder, Danube Group

    Rightly so, Dubai is known for its pleasant weather, even during the so-called winter months, Dubai boasts its clear blue sky perfect for going to the beaches and for all kinds of outdoor activities. The people in Dubai are also very warm, helpful, friendly, and welcoming. The biggest attractive factor is that there are dozens of nationalities living here, so everyone gets fit in wherever he comes from. Moreover, the law-and-order situation in Dubai is exemplary and it ensures the safety, security, and well-being of all. Low interest and mortgage rates, a highly effective COVID-19 vaccination drive, and new visa rules for investors introduced by the UAE authorities present a favourable scenario for anyone keen to live, work, or trade in Dubai.  The way that the COVID-19 crisis has been handled by the Emirate sends out a strong message to the world that Dubai continues to be a flourishing hub of business.

    As Dr. Mahmoud AlBurai of Dubai Land Department and Senior Advisor- Dubai Government, Global Goodwill Ambassador, Ecosystems builder, and SDGs leader aptly puts it, “Dubai real estate market has been booming recently due to keen participation from foreign investors. The market is looking up and it’s time to invest in Dubai, as this will definitely be an investment of a lifetime.” He added that in the last five months, Dubai has witnessed the influx of foreign investors with the following investment in US dollars: 6 billion (India); 2.9 billion (UK), 1.4 billion (China); 1.3 billion (France); 1.26 billion (Pakistan); 1.18 billion (Russia); 1.07 billion (Iran); 1.04 billion (Canada) and 720 million from Saudi Arabia, to name a few.

    Even though property prices over the past six months have gone up by 30-35 percent, property in Dubai is still cheaper compared to many other major international hubs such as Hong Kong and London. While villa prices have gone up and will continue to do so in the coming months, apartment prices are still low and make for an attractive investment. The luxury property market in Dubai has already started recovering, and the affordable property market will follow.

    Depending on all these factors, Dubai is even witnessing an increasing number of investors from India expressing interest in coming and opening their business in the city, or purchasing their choicest property there. According to Danube Group, Dubai enjoys the confidence of global investors. Not just investors from India but a lot of European and Chinese ex-pats are also looking to purchase property in Dubai, and the city continues to be a flourishing hub of business and living.

    About Danube Group

    Established in the year 1993, Danube Group was founded and cultivated under the leadership of Rizwan Sajan, the Founder, and Chairman of the Group. Starting as a small trading firm, the company is moving from strength to strength, expanding its foothold in the region, and has established itself as the No. 1 building materials company along with other branches under its vast umbrella. In 2019, the company recorded a turnover of USD 1.3 billion and has been growing ever since. Rizwan Sajan was ranked 12th among the ‘Top 100 Indian leaders in the UAE’ List by Forbes Middle East. As one of the largest suppliers in the region, Danube Group’s operations are dominated by two main segments – Building Materials FZCO and Danube Home (Home Interior/ Décor Solutions), which brings together a variety of state-of-the-art products available at showrooms strewn across the MENA region.

  • Dr. GautamAllahbadia receives the UAE Golden Visa

    World-renowned IVF expert Dr. GautamAllahbadia has received the UAE’s coveted ‘Golden Visa’. The Golden Visa is granted to people in the fields of arts, creative industries, entrepreneurs, bright students with promising scientific capabilities, and specialized talents and researchers in various fields of science and knowledge.

    Abu Dhabi [UAE], July 6: Dr. GautamAllahbadia, Consultant Reproductive Endocrinology, a well-known name in the field of medical sciences and research, was recently awarded the UAE Golden Visa. He is a leading medical expert in ARTs and IVF. He has been providing fertility solutions for almost the past three decades to couples from across the world.

    “I am honored to have received the Golden Visa. This marks a milestone in my life. Rewards and appreciation like these are what keeps me motivated, extremely glad, and elated for this massive token of recognition.”

    Dr. GautamAllahbadia is famous for his prowess in Ultrasound-guided embryo transfers and physician-guided success in Minimal Stimulation (IVF Lite), in South-East Asia. He’s famously considered the most successful Assisted Reproduction expert with over thirty years of experience. He’s also known as the founding father of IVF Lite. With numerous feathers to his hat and several awards and recognitions, he has been behind numerous new lives that have given the chance to more than 10000 couples across the world to experience parenthood.

    The United Arab Emirates implemented a new system in 2019, for long-term residence visas; The Golden Visa. Since then many Indians have received its benefits.  It enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100 percent ownership of their businesses.

    This amendment was brought forward in a bid to attract new foreign residents to the emirate of Dubai.

    The reason for introducing the golden visa was to project the UAE as a destination for business investment and encourage business development in the region. The visa was introduced to recognize residents who have been here for the long term and their contribution to their country’s development.

    The golden visa is a means to recognize their contribution and to thank them with a long-term visa that is valid for ten years and can be renewed.

    Dr. GautamAllahbadia said “I was delighted to hear that I was selected for the Golden Visa. It feels good to know that my dedication, contribution, and commitment have been recognized by the UAE government.”

    The Golden Visa essentially offers long-term residency- 5 and 10 years to people belonging to the following groups: investors, individuals with outstanding talent and researchers, entrepreneurs, medical professionals, those within the scientific and knowledge fields, and exceptional students.

    One of the major benefits of attaining this visa will be security as the UAE government has made it clear that they are committed to providing investors, expatriates and essentially everyone looking forward to making the UAE their home as an added reason to feel secure about their future.

    “I have always considered Dubai as my home. This visa has provided me with more stability and security to continue and fulfill my long-term career goals here in the UAE.” –  ART and IVF expert Dr. GautamAllahbadia.

    Some of the famous personalities who also have the UAE Golden Visa: Cristiano Ronaldo, Novak Djokovic, MiralemPjanic, Paul Pogba, LuísFigo, and Bollywood celebrities: Shahrukh Khan and Sanjay Dutt are also part of the list.

    Expressing his gratitude for the UAE golden visa, Dr. GautamAllahbadia also said “I will definitely give my best to contribute towards the growth and development of this nation. My commitment and dedication to the UAE have been greatly strengthened. I thank the UAE leadership for their trust in me.”

  • Afghan Fruit Virtual Business Matchmaking Event Hosted in India

    Afghanistan’s fresh fruit exports to India increased by over 250 percent in 2020

     Mumbai (Maharashtra) [India], June 29: The Consulate General of the Islamic Republic of Afghanistan in Mumbai, in association with the United States Agency for International Development (USAID), U.S. Department of Commerce’s Commercial Law Development Program (CLDP), World Trade Center Kabul, World Trade Center Mumbai, Afghanistan Chamber of Commerce and Investment, and Indian Chamber of International Business (ICIB) hosted the Afghan Fresh Fruits – Virtual B2B Matchmaking Event on June 28, 2021. The program focused on promoting the trade of Afghan fruits to India among those already experienced in international trade; 46 Indian importers and 36 Afghan exporters participated in the session.

    Consul General of Afghanistan in Mumbai Ms. Zakia Wardak, the first woman to hold her post, shared that “Surprisingly, even amidst the pandemic, bilateral trade is growing significantly. Last year, overall trade increased by five percent. Afghanistan’s fresh fruit exports to India increased by over 250 percent in 2020. Fresh and dry fruits contribute over 50 percent of Afghan exports to India. By hosting these types of business matchmaking events, we are determined to increase the trade between both sides to US$ 2 billion over the next three years.”

    During the keynote address, Mr. Shah Masood Arghandabi, Director of Export Promotion, Minister of Industry and Commerce from Afghanistan, remarked, “Last year. trade between both sides reached nearly US$ 1.33 billion (with India’s exports to Afghanistan worth US$ 858 million, and imports from Afghanistan worth US$ 514 million). Significant progress has come as a result of bilateral and multilateral trade agreements signed between both countries. Afghanistan annually produces over 1.5 million metric tons of fresh fruit, including apples, apricots, pomegranates, grapes, cherries, and melons. India, as the world’s fastest-growing economy, is the best market for Afghanistan quality products.”

    The Consulate of Afghanistan in Mumbai is planning a similar virtual dry fruit business matchmaking event towards the end of August 2021.

  • Afghan Fruit Virtual Business Matchmaking Event Hosted in India

    Afghanistan’s fresh fruit exports to India increased by over 250 percent in 2020

     Mumbai (Maharashtra) [India], June 29: The Consulate General of the Islamic Republic of Afghanistan in Mumbai, in association with the United States Agency for International Development (USAID), U.S. Department of Commerce’s Commercial Law Development Program (CLDP), World Trade Center Kabul, World Trade Center Mumbai, Afghanistan Chamber of Commerce and Investment, and Indian Chamber of International Business (ICIB) hosted the Afghan Fresh Fruits – Virtual B2B Matchmaking Event on June 28, 2021. The program focused on promoting the trade of Afghan fruits to India among those already experienced in international trade; 46 Indian importers and 36 Afghan exporters participated in the session.

    Consul General of Afghanistan in Mumbai Ms. Zakia Wardak, the first woman to hold her post, shared that “Surprisingly, even amidst the pandemic, bilateral trade is growing significantly. Last year, overall trade increased by five percent. Afghanistan’s fresh fruit exports to India increased by over 250 percent in 2020. Fresh and dry fruits contribute over 50 percent of Afghan exports to India. By hosting these types of business matchmaking events, we are determined to increase the trade between both sides to US$ 2 billion over the next three years.”

    During the keynote address, Mr. Shah Masood Arghandabi, Director of Export Promotion, Minister of Industry and Commerce from Afghanistan, remarked, “Last year. trade between both sides reached nearly US$ 1.33 billion (with India’s exports to Afghanistan worth US$ 858 million, and imports from Afghanistan worth US$ 514 million). Significant progress has come as a result of bilateral and multilateral trade agreements signed between both countries. Afghanistan annually produces over 1.5 million metric tons of fresh fruit, including apples, apricots, pomegranates, grapes, cherries, and melons. India, as the world’s fastest-growing economy, is the best market for Afghanistan quality products.”

    The Consulate of Afghanistan in Mumbai is planning a similar virtual dry fruit business matchmaking event towards the end of August 2021.

  • Sara Chhipa, 10-year-old, Indian, World Record Holder felicitated by the Consulate General of India in Dubai, UAE

    Dubai [UAE], June 19:  Sara Chhipa, a 10-year-old from Bhilwara, Rajasthan, and a resident in Dubai was recognized by His Excellency, Dr. Aman Puri Consul General of India, and Dr. Jitendra Matlani, Vice President, World Book of Records at the CGI office in Dubai. Sara has been a resident of Dubai for the past 9 years and had recently created a World Record on 2nd May 2021 by memorizing all the 195 “Countries – Capitals & Currencies” across the world. The previous record was for countries and capitals and Sara has added the dimension of currencies to her recent record. Sara became the first in the world to create & hold the “world record” in the newly achieved category.

    Sara is also recognized by OMG Book of World Records, International Book of Records, and recently, she was awarded & included in the World Book of Records, London, UK.

    Commenting on the great achievement, Sara said, “I am extremely honored to receive this prestigious recognition from His Excellency, Dr. Aman Puri. I would also like to express my gratitude to Dr. Jitendra Matlani, Vice President, World Book of Records. Along my journey, I have been blessed to meet some very encouraging souls. The UAE as a country has also been very supportive as it takes progressive strides owing to its visionary leadership and I feel very grateful to be living here.”

    A sixth-grade student at the Gems Modern Academy, she has put in more than 50 hours of work to memorize the daunting list of the names. Her world record journey began around three months back under the mentorship of Sushant Mysorkar, founder of Brain Rhyme Cognitive Solutions in Mumbai. Since then, Chhipa has been training in memorizing the names through a combination of cognitive mindset, association systems, and several creative learning and memory tools and techniques.

    Interestingly, Sara is also a budding cricketer and an avid dancer where she has performed various stage shows. She is also exposed to the practices of yoga & breathing techniques through the “Art of Living Foundation”. Sara has her YouTube channel, “Shine with Sara” and currently runs a weekly series on “Incredible India” and aims to cover all the countries going forward. Sara also loves arts & crafts, painting, and cooking in her spare time. As per Sara, 5F has been the secret of her success, Find Your Passion, Feel Your Passion on Daily Basis, Follow Your Passion, Flourish along with your Passion, and don’t forget to have “Fun” while exploring your passion.

    Sara’s father, Suniel Chhipa, a native of Bhilwara, Rajasthan and been in UAE for the last 10 years and currently working with Etisalat Telecom in the Human Resources function. Before coming to Dubai, Suniel worked with AMUL, Reliance Industries, and Tata Chemicals in India. Sara’s mother, Renu is from Baran, Rajasthan, and currently working with Asteco Properties. Sara also has a younger brother, Shourya 6 yrs old who is born and brought up in Dubai and a student of Springdale’s School in Dubai. They are a proud resident of Discovery Gardens in Dubai.

    Sara Chhipa’s YouTube Channel: https://www.youtube.com/c/ShinewithSara

  • Sara Chhipa, 10-year-old, Indian, World Record Holder felicitated by the Consulate General of India in Dubai, UAE

    Dubai [UAE], June 19:  Sara Chhipa, a 10-year-old from Bhilwara, Rajasthan, and a resident in Dubai was recognized by His Excellency, Dr. Aman Puri Consul General of India, and Dr. Jitendra Matlani, Vice President, World Book of Records at the CGI office in Dubai. Sara has been a resident of Dubai for the past 9 years and had recently created a World Record on 2nd May 2021 by memorizing all the 195 “Countries – Capitals & Currencies” across the world. The previous record was for countries and capitals and Sara has added the dimension of currencies to her recent record. Sara became the first in the world to create & hold the “world record” in the newly achieved category.

    Sara is also recognized by OMG Book of World Records, International Book of Records, and recently, she was awarded & included in the World Book of Records, London, UK.

    Commenting on the great achievement, Sara said, “I am extremely honored to receive this prestigious recognition from His Excellency, Dr. Aman Puri. I would also like to express my gratitude to Dr. Jitendra Matlani, Vice President, World Book of Records. Along my journey, I have been blessed to meet some very encouraging souls. The UAE as a country has also been very supportive as it takes progressive strides owing to its visionary leadership and I feel very grateful to be living here.”

    A sixth-grade student at the Gems Modern Academy, she has put in more than 50 hours of work to memorize the daunting list of the names. Her world record journey began around three months back under the mentorship of Sushant Mysorkar, founder of Brain Rhyme Cognitive Solutions in Mumbai. Since then, Chhipa has been training in memorizing the names through a combination of cognitive mindset, association systems, and several creative learning and memory tools and techniques.

    Interestingly, Sara is also a budding cricketer and an avid dancer where she has performed various stage shows. She is also exposed to the practices of yoga & breathing techniques through the “Art of Living Foundation”. Sara has her YouTube channel, “Shine with Sara” and currently runs a weekly series on “Incredible India” and aims to cover all the countries going forward. Sara also loves arts & crafts, painting, and cooking in her spare time. As per Sara, 5F has been the secret of her success, Find Your Passion, Feel Your Passion on Daily Basis, Follow Your Passion, Flourish along with your Passion, and don’t forget to have “Fun” while exploring your passion.

    Sara’s father, Suniel Chhipa, a native of Bhilwara, Rajasthan and been in UAE for the last 10 years and currently working with Etisalat Telecom in the Human Resources function. Before coming to Dubai, Suniel worked with AMUL, Reliance Industries, and Tata Chemicals in India. Sara’s mother, Renu is from Baran, Rajasthan, and currently working with Asteco Properties. Sara also has a younger brother, Shourya 6 yrs old who is born and brought up in Dubai and a student of Springdale’s School in Dubai. They are a proud resident of Discovery Gardens in Dubai.

    Sara Chhipa’s YouTube Channel: https://www.youtube.com/c/ShinewithSara

  • Under Covid Crisis, Crypto shows Its True Value

    Singapore, May 20: It started with a tweet from Sandeep Nailwal. “Can’t take this sitting down anymore” the tweet said. “I am going to run a COVID relief campaign in lieu of what is going on in India…I will take full responsibility for transparency, funds usage and regulatory compliance…” Nailwal is the cofounder of Polygon (previously Matic), India’s first crypto unicorn. Like many in the crypto community, he was wondering how cryptocurrency and blockchain could help during India’s Covid crisis.

    During Covid Crisis, Time Counts and Crypto Delivers

    India’s active Covid cases now stand at over 20 million and with a death toll above 230,000. The crisis in India has been rightly described by the domestic and international press as being out of control, with Oxygen supplies dwindling and crematoriums working around the clock. One of the ways the international community can help is by sending oxygen canisters to India or donating funds for people to purchase oxygen or other needed medical supplies.

    The problem is that traditional sourcing channels have become overwhelmed and price gouging and black marketeering have become real roadblocks. Oftentimes money for life-saving medications and hospital care is unattainable to the average Indian, many of whom are not flush with savings. Newer paths need to be created quickly to get aid to the people who need it the most. Under these circumstances, cryptocurrency provides another option that could actually save lives.

    Crypto Can Help and Is Helping

    In an emergency, time counts and Crypto wallets can be set up instantly. Many exchanges offer almost immediate Indian Rupee withdrawals. Bitcoin and Cryptocurrency provide a unique solution because family assistance can be sent from across the country or even across the world in the time it takes a Bitcoin transaction to confirm. In fact, many local Indian crypto exchanges are stepping up to assist. WazirX, one of India’s larger exchanges just announced that they would donate ₹8 crores for Covid relief to 10 different organisations, including the Chief Minister’s Funds of Maharashtra and Karnataka.

    “We are deeply concerned about the current situation in India. It’s truly heartbreaking.” said Wayne Huang, co-founder and CEO of XREX Inc., an international exchange operating in the Indian market, “We believe that cryptocurrency can help India through this crisis, whether that involved raising funds or transferring them quickly to those who need it, the crypto community stands with India to navigate this crisis and emerge stronger.”

     

    Efforts from Global Crypto Communities

    While others in the crypto community here in India are pulling out all stops to help, many think it will take an international effort to truly be effective. Indeed, an international response is exactly what Polygon’s Nailwal elicited. Balaji Srinivasan, former CTO of Coinbase soon replied and announced that he and Vitalik Buterin, co-founder of Ethereum would also be joining the campaign. Buterin kicked things off by donating 100 Ether and 100 Maker tokens worth $650,000 to India’s Covid relief fund. This donation was quickly followed by Surojit Chatterjee, CPO of Coinbase, and Eric Meltzer, an early crypto investor, along with several other crypto personalities. In a short period, the fund raised over 22 cr in cryptocurrencies, including 1 Bitcoin worth over Rs 41 lakh from cricketer Brett Lee.

    Non-fungible token (NFT) artists on the OpenSea platform recently conducted an event called “Fable” where they auctioned 22 pieces of art created by artist volunteers to support on-ground charities in India supplying patients with needed oxygen cylinders for many who are unable to afford it. This action comes from the crypto community is fast and efficient through blockchain technology.

     In a public health crisis like the one confronting India today, every bit of help counts, whether that is labor through volunteering or funds coming in from all over the world. Despite the rapid industry growth during the pandemic, India continues to have a controversial relationship with Crypto. In March 2020, the Supreme Court overturned an RBI edict that prohibited cryptocurrency exchanges from doing business with banks. Since then, it has been anything but smooth sailing.

    Fortunately, if the most recent reports are to be believed, the winds would appear to be changing. A few months ago, the Narendra Modi-led BJP government paused a bill to ban cryptocurrencies in favor of what Finance Minister Nirmala Sitharam termed “a calibrated view on the subject. While these much-awaited regulations will take some time to be announced and implemented, particularly in light of the current emergency, now is a great time for Indian authorities to see firsthand how cryptocurrency and blockchain can be of use to fight against the effects of the virus and truly save lives.

    Hope and Opportunities in the Pandemic

    Echoing the trouble that Crypto itself finds itself in India, the Crypto Covid Relief Fund could run into some regulatory issues. While Polygon’s Nailwal pledged to handle regulatory aspects around donations, some laws require reporting all foreign origin aid in India. Normally foreign donations are governed by the Foreign Contribution (Regulation) Act of 2010 and Foreign Exchange Management Act of 1999, but it is unclear how these regulations apply to cryptocurrency and whether or not the government will relax policy given the scale of human catastrophe the country is dealing with.

    There is a hope that this may lead to a positive reset for the relationship between the crypto community and the government of India, and that can only be positive. Tangible gestures like this from the international and local community will go a long way toward building some goodwill with regulators and highlight the good that Crypto brings for India and its citizens.