Mongolia Partners With Stablecoin to Use Blockchain for Lending Services, Money Transfers

Mongolia’s capital city of Ulaanbaatar has partnered with a stablecoin company to release instant money transfer and lending services, Asia’s largest tech media platform e27 reported on Jan. 11.

Ulaanbaatar City’s administration has agreed to partner with a South Korean blockchain company, dubbed Terra, in order to eventually replace the current payment methods for utility bill and government subsidies with the Terra stablecoin, according to the publication.

The pilot program is scheduled to be launched within the next six months, and will start in the city of Ulaanbaatar’s Nalaikh District, with plans to expand throughout the whole city. The article also states that the program within the Mongolian capital will contain both peer-to-peer payments and mobile payments.

Terra is a stablecoin project co-founded by Daniel Shin, the creator of South Korean e-commerce marketplace Ticket Monster. The stablecoin project closed a $32 million funding round in August 2018, with participation from Binance Labs, OKEx and Huobi Capital, as well as Polychain Capital.

Back last fall, the Bank of Mongolia, the country’s central bank, had given permission to Mongolia’s largest mobile telecoms operator to issue its own digital currency, as Cointelegraph reported on Sep. 28.

Terra, the stablecoin project, had already partnered with South Korean messaging app giant KakaoTalk back in last November as well. The partnership is aimed at developing a blockchain-based payment system and creating a blockchain ecosystem that would allow a large number of people to use its services, Cointelegraph wrote on Nov. 14.

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Energy Firm ENGIE Partners With Consulting Firm to Create Blockchain Software Offering

French electric utility company ENGIE and consulting firm Maltem Consulting Group have jointly established a blockchain development firm designed for commercial customers, according to a press release published September 7.

The new project called Blockchain Studio received seed funding totalling €1.9 million (around $2.1 million). Blockchain Studio has created a software suite for commercial enterprises comprised of two fundamental tools. One tool is focused on the development of smart contracts and enables its application by users without technical background. The other tool manages the creation of cloud-based or server-based blockchain infrastructure.

According to the announcement, the company is planning to roll out its services primarily on the Asian market at the beginning of 2019, with an office in Singapore. By the end of the first financial semester of next year, Blockchain Studio will also open operations in Southern Europe.

Yves Le Gélard, ENGIE’s Executive Vice-President and Chief Digital Officer expressed enthusiasm towards the new project:

“We are very pleased to be contributing to this development, which should allow Blockchain technology to be made accessible to many actors. It is an excellent example of an innovative tool contributing to ENGIE’s digital transformation.”

ENGIE has previously explored blockchain applications in its energy business. In July, the corporate research center of the ENGIE Group, ENGIE Lab CRIGEN, signed a Memorandum of Understanding with the IOTA Foundation. The collaboration is focused on the exploration of and experimentation with IOTA Tangle technology in the energy sector.

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Shanghai Stock Exchange Partners With Major Insurance Firms to Improve Industry With Blockchain

The Shanghai Stock Exchange (SSE) and Insurance Asset Management Association of China (IAMAC) have agreed to cooperate on improving the insurance and pension industries with the use of blockchain tech. China Securities Journal newspaper reported on the partnership Monday, August 20.

China Securities Journal wrote that the SSE, the world’s fourth largest stock exchange, was joined by several major insurance industry players, including the IAMAC, Changjiang Pension Insurance Company, Tokyo Maritime Sunshine, and others.

The stated goal of the new group is “to create a new, high-efficiency, low-cost and safer insurance industry” through the use of blockchain technology. The article clarifies:

“The digital transformation of enabling insurance will build a blockchain service platform to solve the bottleneck problem of enterprise innovation. With convenient and efficient application development, flexible deployment mode and visual monitoring and operation platform.”

As Cointelegraph reported July 12, the Shanghai Stock Exchange had revealed its plans to use blockchain in its securities transactions, indicating the increasing level of adoption of the distributed ledger technology (DLT) by larger institutions.

Last week, a major U.S.-based entrepreneurial accelerator Y Combinator announced the launch of its new China-based division to “build a long-term local organization that will combine the best of Silicon Valley and China and create a lot of innovation.”

Earlier this month, Intercontinental Exchange (ICE), which operates the New York Stock Exchange (NYSE), has unveiled its plans to build an “open and regulated, global ecosystem for digital assets” in cooperation with Microsoft and others.

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China: University IT Research Institute Partners to Form Blockchain Research Center

The Research Institute of Information Technology (RIIT) of Tsinghua University (THU) has partnered with a subsidiary of China’s institutional financial firm to establish a blockchain research center, according to an Aug. 1 press release.

The RIIT has signed an agreement with Sheng Ying Xin Management Consulting Co., Ltd., a contractually controlled and managed company of China Internet Nationwide Financial Services (CIFS). The two organizations will jointly research and develop basic blockchain technologies and models for building enterprise-level applications in a number of industries.

The blockchain-based applications will reportedly address a range of challenges currently facing Chinese companies. The introduction of blockchain into Chinese industries aims to boost transparency and traceability in supply chains, logistics, the pharmaceutical field, and agricultural products, among others.

CIFS CEO and chairman Jianxin Lin claimed that the recent agreement will be an important step for the company in terms of its business strategy, providing a shift from conventional financial service to focus more on fintech. Lin added that fintech will be “the main driver of the next phase of our [CIFS] growth.”

Bin Yang, Vice President of THU, noted that blockchain applications in various fields have become a “vital national strategy for all countries,” stating that distributed ledger technology will accelerate China’s economic transition and upgrade industry standards. He also said that the “digital transformation has only just begun,” and it would bring a “number of positive impacts for the society.”

Founded in 1911, Tsinghua University is one of major research universities in Beijing, China, and a member of the elite C9 League of Chinese universities. In May, 2018, THU set up the Youth Education Chain League and launched China’s first blockchain innovative experiment platform.

Previously, in 2016, Tsinghua University became part of a blockchain-powered food supply project, joining forces with U.S. retail giant Walmart, IBM, and the Chinese Blockchain Food Safety Alliance. The developed blockchain platform intended to identify and remove recalled foods from their products list.

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Dash Partners with Trivecoin to Usher in New Breed of dApps


This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

Dash — the world’s top 14 Cryptocurrency with total market capitalization of USD1.8 billion — has just entered into a partnership agreement with TriveChain. The forward thinking partnership will allow Dash to integrate its payment system into BizStore, a blockchain market place powered by TriveChain. This integration will enable applications (BizApp) in BizStore to perform payment transactions not only using Trivecoin but with Dash coin also.

The intelligent integration of applications into a blockchain market like BizStore is a first of its kind to launch globally. Both Dash and TriveChain saw a great opportunity. WeChat — the Chinese messaging, social media and mobile payment app — generates billions of sales every year in BizStore. Through this innovative solution, app publishers would only have to pay a nominal fee with TriveCoin to list on BizStore, and enjoy higher profit margins, without having to incur the 30% sales commission that app publishers pay elsewhere.

The TriveChain community in Asia is growing fast; in part due to its cost-effective, efficient, and user-friendly features. Couple that with a payment transaction speed as fast as 4 seconds, and you see why the community is flourishing. App developers from around the world are joining the movement, building breakthrough applications on BizStore.The BizStore.io platform provides SDK thus simplifying the difficult process, in addition to build-and-get-paid. Development teams of any size can publish and bring their app to an untapped market, through BizStore in the Trivechain wallet.

Trivecoin wallet can be downloaded at both google playstore and IOS App Store.

https://play.google.com/store/apps/details?id=org.trivecoin.wallet&hl=en

https://itunes.apple.com/my/app/trivecoin-wallet/id1406948103?mt=8

Dash

Dash is an open source peer-to-peer cryptocurrency and decentralized autonomous organization (DAO). It features instant transactions, private transactions and a self-funded, self-governed organizational Structure.

Dash’s self-funded, self-governed organizational structure, referred to as the treasury system or decentralized governance by blockchain, makes Dash a decentralized autonomous organization (DAO). A global network of masternodes vote on proposals for improving Dash’s ecosystem. Approved proposals are funded from the treasury, which receives 10% of all newly created Dash, with 45% allocated to miners and 45% to masternodes. Running a masternode requires ownership of 1000 Dash. Dash’s network has grown to 4,100 masternodes since launch in 2014, making Dash’s peer-to-peer network one of the largest in the world.

TriveChain

TriveChain is the blockchain of TriveCoin, a core system of TriveCoin that allows new businesses to market their products and/or services on the TriveCoin community, and generate native tokens effectively through TriveCoin’s BizContract. This mechanism gives tremendous opportunity to any businesses to crowdfund their project via initial coin offering (ICO).

The process of tokenization is generated through TriveChain, where these tokens are virtual coins built on top of TriveCoin’s platform, making the tokens programmable and customizable to the developer’s needs. These tokens are open-source, self-governing, and free for anyone to use, whilst facilitating guaranteed agreements, token-based voting systems, digital currencies for decentralized apps and tokenized assets.

Additional features include utilizing both Proof-of-Work and Proof-of-Stake based algorithms in a hybrid fashion to increase security and sustainability, a rewards-based double-tier network known as Trive VIP Masternode Network (TVIP), ExclusiveSend which for increased user privacy protection and Direct Send, a decentralized instantaneous transaction system.

On July 1, TRVC had been listed on bitrabbit.com. Bitrabbit is Australia’s largest cryptocurrency exchange and supports dozens of currencies. The listing on Bitrabbit will give TRVC fluidity, enabling holders to buy, sell and exchange other major cryptocurrencies including Bitcoin, Litecoin, Ethereum and Zcash.

Where to find more information?

For more info about the Trivecoin project and the TRVC, visit the official Trivecoin Organization website and forum at trivecoin.org   for mining TRVC, you can visit the official Trivecoin mining pool at trivecoin.com, Kobepool.com and x11hashers.com.

Talk to us:

Facebook: http://facebook.com/trivecoin

Twitter:  https://twitter.com/TRIVECOIN?s=08

Our Telegram Groups:

English:  www.t.me/trivecoin

Chinese: www.t.me/trivecoinCN

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Exclusive: Neufund Partners Bitbay to Create Malta’s First Crypto to Fiat Exchange


Malta continues to be the center of attraction for innovative solutions in the crypto space with yet another announcement that promises to provide a solution for cryptocurrency exchanges to provide fiat withdrawal solutions.

This time it will be a partnership between the Berlin-based Neufund company and the Polish cryptocurrency exchange Bitbay who have teamed up together to set up what they are claiming will be the world’s first cryptocurrency to fiat exchange.

The Malta-based exchange joins Neufund’s growing community of secondary market partners and aims to trade equity tokens issued through Equity Token Offerings. Thanks to the partnership investor will be able to buy and sell equity tokens with fiat currencies.

The Security token market will reach a value of $10 trillion by 2020, according to a study conducted by Polymath. Tokenized securities will bring much-needed liquidity to traditional investment assets, including equity instruments. Today’s announcement follows Neufund’s partnerships with the Malta Stock Exchange and Binance, the world’s biggest crypto exchange. BitBay will be the first trading partner enabling companies to liquidate their equity tokens against fiat currency.

Speaking to CCN, Neufund CEO Zoe Adamovicz was keen to note the revolutionary aspect of this partnership.

“This will be the first crypto secondary market trading tokenized securities against fiat currencies. We are very keen to start the partnership with Bitbay since it will offer clients a really easy way to purchase and sell cryptocurrencies using fiat currency. It appears that Bitbay are all set to accept a wide range of payments and withdrawal options including bank transfers, Paypal and other similar methods so the transactions should be quite smooth. Hopefully, this will start bringing cryptocurrencies to the masses and will really kick off the global revolution with Malta on the frontline of it”.

BitBay claims to be a leading European crypto exchange and offers tradable fiat pairs include Polish Zloty, Euro and the U.S. Dollar.

“Our partnership with Neufund aims to bring security tokens to BitBay’s everyday operations in a fully compliant and regulated way. We are proud to be on the frontline of implementing equity tokens into 24/7 crypto trading systems,” commented Paweł Sobków, CEO of Pinewood (operator of Bitbay.net), on today’s announcement.

BitBay has recently moved its operations to Malta, while Neufund has announced its partnership with MSX, a subsidiary of the Malta Stock Exchange with the aim to create the first fully regulated exchange trading crypto assets alongside traditional financial instruments. Malta, an EU member state has recently passed 3 bills regulating DLT through Parliament although these are still at consultation stage and are expected to become operational on October 1 this year.

Much depends on how the cryptocurrency and bockchain laws will be implemented however if this venture is to become possible. There has already been some confusion regarding the recently announced Founders Bank which purports to be the world’s first crypto bank. The MFSA claimed to be unaware of adverts placed in the local Maltese media portraying the bank’s services which are as yet not possible under the current Banking Act regime. BitBay also opened shop in India last year offering six altcoin pairings but it is unclear how this operation is continuing in the light of the country’s recent clampdown on cryptocurrencies in general.

Featured image from Shutterstock.

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Overstock Subsidiary Partners With Zambian Gov’t on Blockchain Land Registry

Zambia has signed a Memorandum of Understanding (MoU) with the blockchain land registry subsidiary of American retail giant Overstock, the company revealed in a press release July 31.

Under the agreement, Overstock’s Medici Land Governance (MLG) will work with the Zambian government on overhauling land ownership, allowing rural landowners to legitimize their estates and gain access to the financial world.

“Without formal ownership, individuals struggle to obtain access to credit and public services, while governments are limited in their ability to collect taxes, enforce property rights, and plan for economic expansion and innovation,” the release explains, continuing:

“Using blockchain and other technologies, Medici Land Governance […] will create systems to collect and easily secure property ownership information.”

Discussing the Medici venture, the subsidiary’s CEO Dr. Ali El Husseini called its partnership with Zambia “momentous.”

“[The partnership] has the potential to be a real, sustainable game-changer in reducing poverty and supporting economic development on a large scale,” he added.

Blockchain land projects have been underway across the world for several years, the technology offering a promising solution to fragmented paper records and unverifiable claims.

This week, the world’s fourth-largest bank by assets, Agricultural Bank of China, confirmed it had issued a blockchain-based loan backed by land.

Overstock continues to make multiple inroads across blockchain and cryptocurrency-related spheres, despite warnings earlier this year that its share price was suffering and its future could involve upheaval.

The company currently has fourteen ventures in its Medici Blockchain accelerator, to which MLG is the most recent addition.

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Seven Stars Cloud Partners with China VC Research Institute to Expand Tokenized Assets

Seven Stars Cloud Group, Inc. (SSC), a global fintech firm focused on blockchain and AI-powered digital asset management, has partnered with the China Venture Capital Research Institute (CVCRI), according to a press release published July 23. The partnership will purportedly help SCC extend its to extend its asset digitization services.

The new partnership will enable SSC to create a fully-compliant digital asset ecosystem, with “blockchain-enabled fractionalization, securitization and tokenization, and distribution and trading services through banks and security broker dealer networks in China, [and] the ability to extend sales and trading globally.”

CVCRI’s strong relationships with Chinese authorities and regulators will reportedly facilitate the fractionalizion and securitization of a set of new fixed income asset classes that will be tradable on government designated exchanges within China.

SSC will also tokenize already-issued asset classes such as Real Estate Investment Trusts (REITs) and Asset-backed Securities (ABS), which can be traded on regulated digital asset exchanges worldwide.

SSC claims the deal could potentially “unlock illiquid portions” of investment funds in China, which reportedly reached 73,854 funds with total Assets Under Management (AUM) of $1.88 trillion as of June 2018.

A blockchain-enabled security token issuance and secondary trading technology platform called Velocity Ledger (“VL”) will be used to create a new set of investment products.

SSC’s announcement is just the latest of what appears to be a rapidly accelerating set of initiatives to integrate blockchain across the Chinese financial sector.

Against the backdrop of president Xi Jinping’s public endorsement of blockchain this spring, the deputy director of China’s IT Ministry has recently advocated for an industrial scale adoption of blockchain across all areas of the economy and society.

China has also announced this month that it will spearhead a major international research group on the standardization of blockchain and Internet of Things (IoT) technology.

Just today, the city of Nanjing launched a 10 billion yuan ($1.48 billion) blockchain investment fund to promote the development of the token economy and public blockchain projects.

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