Cryptocurrency based content platform MContent, based in Dubai, produced a documentary in partnership with PricewaterhouseCoopers (PwC) on the ongoing Ripple vs SEC case in a virtual theater in the metaverse.
MContent made the piece with Insight TV and Villain Studios. Ripple vs SEC was launched through MContent’s Cineverse, a virtual experience within the metaverse where viewers will need the Oculus VR headset or augmented reality glasses to watch. The virtual theater was created with PwC’s Middle East-based emerging technology team.
The company premiered both Ripple vs. SEC Saga and El Salvador vs. World Bank at a launch event held in Dubai.
In a statement, Umair Masoom, founder and CEO of MContent said: “The immersive cinema experience – designed in collaboration with PwC and showcased to our guests today has global scalability & mass adoption capability. By bringing Cineverse to a global audience, MContent wants to increase funding and screening opportunities for thousands of independent filmmakers globally.”
“As part of the decentralised ecosystem, MContent is launching the first-of-its-kind, fully monetised content consumption platform, aiming to drive sustainable earnings for content creators and viewers.”
Reza Essop, PwC Middle East’s Emerging Technology Leader added: “This is a brilliant example of the region’s movement towards digital transformation and is very much in line with major wider initiatives such as Dubai Vision 2030.”
“MContent has defined a practical application of emerging technology with the convergence of blockchain, NFT and extended reality (XR). We are incredibly proud to have facilitated this effort as well as enabled this vision from concept to reality and to a sustainable commercialised economy that can benefit many as well as lead the way for other out-of-the-box efforts.”
The case and the future
The Ripple vs SEC case entails a case brought by the Securities Exchange Commission in 2020 against blockchain firm Ripple Labs. The SEC accused Ripple of generating $1.3 billion in unregistered digital asset securities by using its digital coin, XRP.
The SEC’s main issue is that it believes XRP is a security and not a currency, making it eligible for very specific laws that would bring its – over $1 billion – unregistered securities offering into question.
However, with several procedural wins and a specific victory in the case which will allow evidence of a transcript of SEC official William Hinman saying that “cryptocurrencies aren’t securities” in court, the momentum seems to be with Ripple. One of the company’s defense attorneys is former SEC chair, Mary Jo White.
Investment and business through cryptocurrencies are still being figured out legally, as there have been numerous high-level disputes around the legitimacy and categorization of the sector.
Endotech, founded by Dr Anna Becker and Dmitry Gooshchin, is looking to streamline the nuances around trading and getting involved in cryptocurrencies.
The company offers algorithmic automated trade executions for investors. The solution applies artificial intelligence to read market trends and automatically identify and execute trades based on opportunities it finds. Those trades are then syndicated across all member accounts.
With endless stories about enormous returns in explosive markets like crypto, traders have gained an appetite for higher risk/reward opportunities, but also want to make sure there is compliance in doing so.
“These are new financial vehicles for retail clients. They offer a breakthrough financial opportunity that has never been available to retail investors before,’’ Says Dr Becker.
Thanks to a secure API connection, their clients have full custody of their accounts while enjoying the certainty of preprogrammed algorithms to read market trends.
Retail investors as a result can benefit from breakthrough financial results. With more than 160,000 retail accounts subscribing to EndoTech’s automated strategies, a real movement for accessing hedge-fund-type tools has begun. And the results have been better so far than even the top institutional results.
The firm currently has over 160,000 retail clients subscribing to its automated system. The standard of transparent trade reporting and results is what the company wants to bring to a market filled with scrutiny.
Dmitry Gooshchin, EndoTech Co-Founder adds, “Finally, we are providing the technology to enable all investors to capitalize on the potential of markets like cryptocurrencies in a more disciplined way.”