E-commerce payments and ID platform, has been backed by the Department for International Trade, the Mayor of London and the City of London, resulting in the company being invited on two major trade visits to China. The solution stores personal and payment data securely in the blockchain, so users can make e-commerce payments and other transactions without having to share personal data.
Nuggets is benefitting from the UK Government’s declaration of a new era in UK-China relations and the potential of the ‘fintech bridge’ agreed between the two countries in 2016. Underpinned by an agreement with the UK Financial Conduct Authority (FCA), the bridge aims to strengthen regulatory co-operation and create opportunities for fintech start-ups in both markets.
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, a fully decentralized cryptocurrency exchange platform, is launching its public pre-sale on the 26th of April in preparation for its upcoming ICO stage. The project is designed with complete decentralization in mind on the basis of a proprietary blockchain to allow users full integrity and security of funds and to ensure transparent and secure transactions with cryptocurrency assets.
Using its master node system and fully decentralized approach to conducting cryptocurrency exchange operations, the EVEN platform aims at solving the issues of funds security, transaction speeds and availability of professional instruments for trading. Currently, available exchange platform solutions operate through third parties to store user funds, subjecting them to risk. The EVEN platform intends to implement its exchange on a proprietary blockchain and ensure entirely decentralized funds storage.
Some of the greatest issues currently facing exchanges operating on the market are related to increasing activity and tightening of regulations on the part of state and international regulating authorities for political or economic reasons or as a result of hacker attacks or fraudulent activities. Such actions are limiting the operational capacities of centralized exchanges and hamper the development of the crypto industry.
The advantages presented by the EVEN platform include necessary inbuilt instruments as the DEX multicurrency wallet with incorporated protection from third-party interference. The platform also offers an exchange with user-friendly buying and exchange options for a range of available cryptocurrencies. In addition, the EVEN platform has a decentralized escrow option for smart contracts, ensuring maximum protection from external interference.
The EVEN platform is developed in the C ++ programming language using the OpenSSL cryptographic library. The solution is a modified implementation of the consensus generation algorithm Delegated Proof of Stake and the implementation of the Decentralized Security Deposit algorithm developed by EVEN Foundation. The EVEN platform is aiming at operating entirely within the legal regulatory environment and establishing working relations with the regulating authorities
Having examined the faults and aspects of various exchanges existing on the market and having learned from the historical aspects of the crypto industry’s development, the development team of the EVEN exchange platform is determined to create a product that will cater to the needs of modern crypto market participants.
China’s cryptocurrency markets have witnessed a number of significant events in recent weeks, including affirmation from the People Bank of China (PBOC)’s new governor, which will likely intensify the country’s crackdown on cryptocurrency.
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New PBOC Governor Reaffirms Stern Position Regarding Cryptocurrencies
Whilst attending a forum on monetary policy at Asia Annual Conference 2018’s Boao Forum, China’s recently appointed central bank governor, , indicated that the PBOC’s stance regarding virtual currencies will not soften under his leadership.
Yi Gang described cryptocurrencies as offering little to contribute to China’s economy at large, defending the government’s cautious stance with regards to virtual currencies. “In general, PBOC is maintaining tight supervision among virtual currency, in the meantime, the central bank is also exploring a better way for digital currency to play a more active role in service to the real economy,” Yi Gang said.
Yi Gang also again reaffirmed the Chinese state’s design to be globally competitive as a leader in blockchain innovation and adoption.
Blockchain Conference Shut Down by Police Due to Presence of ICO Organizer
The Global Fintech & Blockchain China Summit 2018 was suddenly by local authorities last week, with police citing “security risks” as the basis for their actions. Reports have alleged that police were tipped off by conference participants that an unnamed individual behind an initial coin offering (ICO) that had yielded losses for investors was present at the conference.
PTP International, the company responsible for organizing the event, expressed incredulity and denied any wrongdoing in response to the police’s actions. “We are still investigating the reasons for the suspension, and so far the explanation offered by the police is that it is due to a security risk. We are working on a solution regarding how to make it up to the event attendees. The conference is in compliance with the regulations in China and does not feature any ICO roadshow,” the company stated.
Alibaba Music Group Co-Founder Defends bitcoin
Gao Xiaosong, songwriter, and chairman of Alibaba Entertainment Strategic Committee, recently endorsed bitcoin and cryptocurrency on his online talk show – which receives an accredited viewership of more than 850 million worldwide.
Gao Xiaosong stated that “The essence of currency is not gold or silver, but lies in social consensus. It is exactly currency if it has exchange value. In this sense, I cannot get clear why so many people criticize virtual currency, (after all) currencies at the very beginning are virtual.”
The Alibaba representative described all monetary forms as being “featured by scarcity and community consensus,” arguing that “This is the same case with bitcoin.”
Do you think that China’s regulatory position is likely to soften, or intensify in coming years? Share your thoughts in the comments section below!
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