BlackRock advisor Paul Taylor joins PairedWorld Board following $1.5 million funding. PairedWorld, which improves social interactions through blockchain, nominated for an award. BlackRock’s strategic pivot includes tokenization and expansion into new markets.
BlackRock Venture Partner Paul Taylor has joined PairedWorld’s advisory board. This addition coincides with the successful closing of a $1.5 million financing round by PairedWorld.
PairedWorld is known for its approach to improving real-world social interactions through blockchain technology. PairedWorld has earned recognition for its model that rewards physical social engagement.
BlackRock Focuses on Real World Interactions Initiative (RWI)
This system aims to address digital addiction and loneliness, also providing new avenues of data for consumer brands through Real World Interactions (RWI). Raluca Cherciu, co-founder of PairedWorld stated the following:
“We’ve created the most fun and rewarding tool for people to connect in the real world since the disco era ignited a global music and dance movement that brought communities together, celebrating life and culture en masse.”
Paul Taylor’s inclusion on the PairedWorld board is expected to significantly boost the development of the protocol. His extensive experience in fintech and blockchain fits with PairedWorld’s mission. Meanwhile, under the leadership of CEO Larry Fink, BlackRock is broadening its horizon.
The asset management firm has moved from traditional environmental, social and governance (ESG) labels to more specific investment categories. These include climate, green and transition funds.
This strategic shift is part of BlackRock’s effort to lead the global market amid a politicized environment around ESG investing. The firm’s climate transition funds have seen notable growth, with $13.9 billion in net flows last year.
BlackRock and its Bet on RWA and RWI Tokenization
BlackRock has maintained a proactive focus on emerging sectors. Proof of this is its foray into the tokenization of real-world assets. Fink explained the following:
“Today we have the technology to tokenize. If you have a tokenized security and identity, the moment you buy or sell an instrument on a ledger, it is all created together. We talk about issues related to money laundering. This eliminates all corruption by having a tokenized system.”
Meanwhile, BlackRock’s iShares Bitcoin Trust has been the fastest-growing Bitcoin ETF, accumulating more than $15 billion in inflows within three months of its launch. In addition to its blockchain ventures, BlackRock is extending its influence to new markets, including Saudi Arabia.
Recently, BlackRock opened its first office in Riyadh, signaling a deep commitment to the Middle East market. This expansion allows BlackRock to tap into the state-owned Public Investment Fund (PIF), which controls approximately $925 billion.
BlackRock Bitcoin Spot ETF Prosper for 70 Days
In related news, as the largest US spot Bitcoin ETF by assets under management, IBIT showed a strong uptake trend despite the overall market slowdown. On April 19, the ETF recorded nearly $30 million in inflows, in stark contrast to the cautious stance of the broader sector.
The cryptocurrency market has remained remarkably stable around the halving, with the price of Bitcoin maintaining a level trajectory. Despite price stagnation, institutional investors continue to show great enthusiasm for Bitcoin ETFs.
Collectively, these financial products have accumulated over 532,342 BTC, valued at over $35.13 billion, a milestone that took gold ETFs several years to reach. Notably, BlackRock’s IBIT alone has raised 273,596 BTC, with a market value of over $18 billion.
Furthermore, market analysts have noted that the Bitcoin halving, which reduced mining rewards from 6.25 BTC to 3.125 BTC, could potentially trigger a supply shock, given the high demand through ETFs.
By Audy Castaneda
