TEMCO the world’s first supply chain platform based on the bitcoin Network (RSK), has received funding from leading crypto-accelerator “Nexus One”.
TEMCO is a decentralized supply chain platform that connects isolated supply chain data and offers business/consumer-side services. On the business side, provides companies with the Business Intelligence tool (BI-tool), an analytics tool that helps companies efficiently access and gain insights from data on the blockchain. On the consumer-side, TEMCO is developing applications where consumers can transparently view the product distribution process starting from the manufacturer to the final retail location.
Nexus One’s CEO, Sungku Kim, reveals his investment strategy:
“When you analyze recent investments, regardless of the contemporary financial climate, institutional funds who invest in valuable companies at an early stage, always come out with a profitable outcome. The Nexus One team is aware of the current bear market climate for the cryptocurrency space. However, we firmly believe in the inherit value of blockchain, which is why we will aggressively support great companies that have great potential, such as TEMCO. When you’re considering investing into a startup, one of the most important features of a company is the core team. The TEMCO team has shown time and time again in successfully executing their product vision with great speed. The massive potential of TEMCO’s business model is only why Nexus One determined full heartily do invest in the TEMCO team.”
Co-founder and CEO of TEMCO, Scott Yoon stated
“One of the key advantages of working with Nexus One is its prominent position in the Chinese blockchain market. As China is one of the largest markets for blockchain, the TEMCO team is excited that Nexus One is supporting the team. Since early on this year, Nexus One has been supporting more than 15 blockchain projects, such as Insureum, Chromaway, Block Cloud, Multivac, ORBS, etc.”
Through connections with global blockchain companies in China, Hong Kong, and Korea, Nexus One invests in companies with great portfolios, supporting them with specialized knowledge on exchanges, media, and community development. Recently, Nexus One was introduced as a top-tier investment company in the “Korean Blockchain Market Report” by “” one of the leading blockchain media publications in China.
There’s only 10 days left until the bitcoin Cash (BCH) network hard fork scheduled for Nov. 15. At the moment the upgrade has two competing BCH clients with different ruleset changes, so the upcoming fork could cause a chain split. Because of the contention over certain upgrade proposals, a slew of exchanges and wallet providers have revealed their contingency plans for the upcoming consensus change.
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Hard Fork Contingency Plans Are Laid Out
bitcoin Cash fans have a lot going on over the next week as the community is expecting a fork on Nov. 15, but this time around the consensus changes are somewhat contentious. At the time of publication, there is a disagreement between the two developing teams bitcoin ABC and bitcoin SV, which could lead to a network split. Until recently, , and Ledger Wallet were the major companies to have their plans for the fork, but since then a tidal wave of other businesses have come forward.
Binance and Coinbase
For instance, on Nov. 2 the trading platforms Coinbase and Binance disclosed how the companies plan to handle the fork situation. Binance it plans to “support the upcoming bitcoin Cash hard fork” in a blog post published that morning.
“Binance would like to confirm support for the upcoming bitcoin Cash hard fork. We will take a snapshot of all bitcoin Cash balances at UNIX time 1542300000, 2018/11/15 4:40:00 PM (UTC),” the exchange wrote. “Deposits and withdrawals of bitcoin cash will be suspended starting from 2018/11/15 3:00:00 PM (UTC).”
Binance continued by stating that it will follow up with a second announcement after the fork. The exchange concluded by stating that Binance users can refer to the 2018 BCH upgrade published by the bitcoin ABC team.
After the statements from Binance, 12 hours later Coinbase published an concerning the BCH network fork. The San Francisco exchange detailed the service is “prepared to support the published roadmap from Bitcoincash.org,” and also linked to the Github repository page published by the bitcoin ABC team. Coinbase said in its blog post that approximately one hour before the fork the business will pause BCH transactions. The company explained that customers can be sure their funds will remain safe at Coinbase. “In the unlikely event that multiple viable chains persist after the fork, Coinbase will ensure that customers have access to their funds on each chain,” the organization emphasized.
Poloniex and Kucoin
On Nov. 5, Poloniex exchangem which is owned by Circle Financial, its plans to support the Nov. 15 BCH fork and pause transactions. According to the trading platform, the exchange will take a snapshot of all BCH balances prior to the fork and stop BCH transactions during the upgrade. “Once the network stabilizes, we will make an announcement and re-enable deposits and withdrawals,” explained Poloniex. The trading platform concluded by stating that users can also refer to the bitcoin ABC roadmap.
The same day, the Kucoin cryptocurrency exchange it would be supporting the bitcoin ABC hard fork roadmap. Before the fork takes place, Kucoin will take a balance snapshot and suspend BCH transactions. “Deposits and withdrawals of BCH will be suspended at 23:00:00 on November 15th, 2018 (UTC+8),” explained the trading platform.
Wallet Providers Trezor and Cointext
On Twitter, the hardware wallet company Trezor explained to the cryptocurrency community its plan for the upcoming fork. Trezor detailed that its server runs the bitcoin ABC client and will follow with the development team’s upgrade proposal. “There is no replay protection, so users have to take their own measures to split the coins on other chains that may emerge,” . It added, “Electron Cash supports Trezor and supports all chains, so users can select the server supporting the chain they want to use.”
Another BCH wallet provider, Cointext, has published contingency plans in regard to the fork on Nov. 15. The wallet provider has said all Cointext BCH access numbers will remain fully available to users and the company will read from the blockchain as it exists on nodes running bitcoin ABC and bitcoin Unlimited. “Cointext will broadcast transactions so that those transactions have the highest probability of being accepted by nodes running every ruleset and mined into every blockchain on the network,” the organization
Lots of Exchanges and Wallet Providers Have Come Forward With More to Come
Overall, quite a few exchanges and wallet providers have come forward and there will likely be more statements during the course of next week. In addition to the announcements above, our own , Block Explorer, and other services are “bitcoin ABC 18.2 with bitcoin Unlimited 1.5.0.0 as the clients powering our services.” Additionally, another exchange called Bitz on Reddit it would support the November fork, but the platform didn’t detail which implementation they would be running. Lastly, the developer of Yours.org and the , Ryan X Charles, on what he thinks exchanges and wallets should do to prepare for the fork. Charles explains that he believes infrastructure providers should support both sides if there’s a split. The Money Button creator says he will be looking into this idea in order to implement it into the Money Button wallet.
What do you think about the network hard fork approaching and the two disagreeing parties involved? What are your thoughts on the decisions exchanges and wallets have detailed so far? Let us know what you think about this subject in the comments section below.
Images via Shutterstock, and the BCH infrastructure providers mentioned above.
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