News

Saudi Innovator Secures Patent For Revolutionary Crypto Asset

Rand Al Kharashi’s Quintes Protocol promises perpetual value growth and aims to disrupt both the crypto and traditional markets.

Published

6 hours ago

November 27, 2024

Nour Nasir

saudi innovator secures patent for revolutionary crypto asset

Saudi entrepreneur Rand Al Kharashi is causing a stir in the decentralized finance space after securing a Patent Cooperation Treaty (PCT) from the World Intellectual Property Organization (WIPO) for her groundbreaking Quintes Protocol — a cryptocurrency model designed to avoid depreciation.

Scheduled for launch in January 2025, Quintes Protocol is being hailed as a disruptive force in the cryptocurrency space. Its innovative framework offers a perpetually appreciating asset with projected annual value growth of 18-30%. The technology is expected to bring new stability and reliability to an industry often criticized for its volatility.

“This is more than a milestone for Quintes Protocol – it’s an affirmation that exceptional and continued value can be created in the crypto field,” explained Al Kharashi. “Backed by intensive research, verifications, and the knowledge of renowned token engineers and researchers from leading blockchain companies, Quintes has just one destination: to pioneer the future of DeFi with unmatched growth, blazing the way for an exciting new world of cryptocurrency value”.

The Quintes Protocol aims to outperform traditional investment classes like S&P 500 stocks, gold, and high-yield bonds, as well as major cryptocurrencies like Bitcoin and Ethereum. By offering predictable growth and mitigating the risks typically associated with crypto investments, it is poised to attract a wide range of investors.

Also Read: iFLYTEK Smart Translator 4.0 Review: A Traveler’s Companion

Speaking on the inspiration behind Quintes, Al Kharashi said, “We’ve seen the potential for cryptocurrencies to achieve great returns for investors, but that growth is fickle. Growth bubbles occur, burst suddenly and unexpectedly, and the value is often lost. That is what inspired the creation of Quintes and the concept of perpetual growth, based on predictable collateral value appreciation”.

The foundation of the Quintes Protocol is the result of intensive research by Kitabq Research Lab. The development team includes elite engineers and scientists with backgrounds at ConsenSys, Binance, and Algorand, as well as financial giants such as Morgan Stanley. Together, they’ve raised over $600 million and boast a track record of successful projects across Web2 and Web3.

Related Topics:Cryptocurrency Saudi Arabia

Don't Miss

Study Shows Gen Alpha’s Growing Impact On The Digital Economy

Click to comment

News

Study Shows Gen Alpha’s Growing Impact On The Digital Economy

Tech-savvy children aged 8-15 are reshaping global shopping and payment trends through their heavy use of social commerce and digital tools.

Published

12 hours ago

November 27, 2024

Nour Nasir

study shows gen alpha's growing impact on the digital economy

A new study commissioned by Checkout.com, a global leader in digital payments, shines a spotlight on Generation Alpha (kids aged 8-15) and their increasing role in shaping the digital economy. Conducted across the UAE, UK, US, and China, the research dives into how these young consumers are influencing spending trends and reshaping commerce through technology and social media.

UAE’s Gen Alpha: Online Shopping And Gaming Enthusiasts

In the UAE, Generation Alpha is particularly adept at navigating today’s digital-first economy. The research reveals their heavy reliance on social platforms for shopping, with younger buyers gravitating toward social commerce. While 54% of millennials tend to stick to direct-to-consumer websites, 51% of Gen Z prefer shopping directly through social media.

The gaming sector is another area where the UAE’s young consumers are taking the lead. Children in the UAE spend 47% of their allowances on e-gaming, far surpassing the 28% spent by their peers in the UK, US, and China.

High-Value Purchases On The Rise

Parents’ spending on high-end items is soaring too. The report notes a 46% surge in luxury goods purchases and notable increases in home appliance and travel purchases. This trend signals a rebound in consumer confidence, particularly in recently hard-hit areas like tourism.

Interestingly, UAE kids are not just passive beneficiaries of parental spending. The study reveals that 75% of 8-year-olds and 92% of 15-year-olds in the UAE make purchases independently, often through digital platforms.

Buy Now, Pay Later Gains Traction

The research uncovers a surprising trend: a growing number of UAE children over 13 opt for “Buy Now, Pay Later” (BNPL) services. While still a small percentage (11%), this points to how younger generations are embracing alternative payment methods early on.

Global Insights: Social Commerce And Digital Influence

Globally, Generation Alpha influences about 27% of household spending, with digital purchases accounting for nearly a third of that figure. Parents increasingly buy digital products, such as educational tools and streaming services, with 47% prioritizing online learning resources.

Social media remains a dominant force in shopping habits. Across all regions, children use platforms like Instagram and TikTok to discover deals, with preferences varying slightly between countries. In the US, 57% of young shoppers rely on social media, compared to 41% in the UAE.

Physical stores, meanwhile, are becoming less popular. Just 35% of Gen Z worldwide shop in brick-and-mortar stores regularly, further underlining the shift to digital channels.

A Blueprint For Future Commerce

“Generation Alpha is playing a major role in the digital economy,” says Rory O’Neill, Chief Marketing Officer at Checkout.com. “Businesses must pay close attention to evolving customer preferences to stay competitive in this rapidly changing market”.