Cambodia Central Bank Launches Bakong Blockchain – Coinpedia

According to Cambodia’s central bank, the country’s blockchain-based payment infrastructure, dubbed “Bakong” by Cambodian central bankers, went online earlier this year. The launch provides residents with a state-authorized platform for performing immediate mobile payments using QR codes and cellphone numbers that connect digital wallets via a blockchain.

Bakong, built by Japanese technology company Soramitsu, is hosted in the National Bank of Cambodia via the Hyperledger Iroha blockchain.

Bakong is completely fiat-backed, ensuring that users may make payments using their dollar or riel reserves. Unlike other central banks’ digital currency (CBDC) programs, it does not use digitally native money. It is a crucial step towards modernising and de-dollarising the country’s payment system.

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Serey Chea, Director General of the National Bank of Cambodia, asserted boldly that Bakong’s e-payments would aid in the prevention of the spread of COVID-19 throughout the nation.

The National Bank of Cambodia’s Bakong blockchain payment system eventually went into production after a lengthy test period. It is referred to as a retail central bank digital currency (CBDC) by the central bank. It also represents tokenised commercial bank deposits in Cambodian riels or US dollars.

Cambodia has a high percentage of smartphone users; more than 100% of the population has a cellphone, indicating that some own multiple. However, just 22% of adults over the age of 15 have a bank account, and a bank account is not required to use Bakong. Instead, a wallet may be created by receiving money from another person or visiting a payment agent and exchanging cash for tokenised money.

Director-General Chea went on to say that NBC’s goals are to increase financial inclusion, security, efficiency, and the promotion of local currencies. Bakong will play a key role in bringing all users together on the same platform, making it easy for everyone to transfer money to one another. They also want to de-dollarise the economy, which is still largely reliant on the usage of the US dollar daily.

Soramitsu, the primary business behind the Hyperledger Iroha protocol, created a solution to the distributed ledger technology (DLT) on which Bakong is built, allowing each wallet to be tied to a financial institution. There are now 18 financial institutions on the list. While the central bank is in charge of the master ledger, commercial banks have nodes with duplicate copies of the essential data to ensure redundancy.

The conventional database interbank payment system in Cambodia has been replaced with Distributed Ledger Technology (DLT).

How to Register

A user must submit two items:

  • a picture ID
  • selfie

The ID is OCR-processed, and the selfie is matched to the ID’s photo.

The smartphone app is purposefully basic, with only four functions:

  • A wallet owner can transmit money to a registered user.
  • They can also transmit money by scanning the alleged receiver’s QR code.
  • They may also receive money by displaying their QR code.
  • There is also the option of transferring funds to a bank account.

Those who do not have a smartphone can transfer money using the recipient’s cellphone number. It will be challenging to establish the user’s identification if they do not have a smartphone. As a result, only little value exchanges are possible. There are no costs for transfers, and everything is finished in about 2-3 seconds.

Shin Chang Mun, President of Phnom Penh Commercial Bank, stated that Bakong would establish an economically complete ecosystem that will benefit all players in the sector.

The National Bank of Cambodia’s moonshot is Project Bakong. It has already piqued the interest of the crypto sector, which is intrigued by the prospect of central banks experimenting with virtual currencies. The blockchain-based backbone payments system has the potential to alter millions of people’s lives and serve as a model for how such a contemporary foundation may enhance life in the developing world and beyond.

Learn more about how to invest with Project Bakong or other cryptocurrencies here.

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Hyperledger becomes technical partner of Global CBDC Challenge

US-based Hyperledger, has announced it is a Technical Partner for the Global CBDC Challenge, launched by the Monetary Authority of Singapore (MAS).

Hyperledger is an open-source collaborative effort created to advance cross-industry blockchain technologies. The company has several technologies deployed in CBDC projects that entrants can access for this challenge.

As one of the challenge’s Technical Partners, Hyperledger will provide open-source code, technical information, and support through the global blockchain community. The Global CBDC Challenge seeks to catalyse ground-breaking retail CBDC solutions to promote financial inclusion and enable empowerment through technology. The competition is open to fintech companies, financial institutions, and solution providers around the world.

MAS, a Hyperledger associate member, launched the challenge in partnership with the Asia Development Bank, International Monetary Fund, Organisation for Economic Co-operation and Development, United Nations Capital Development Fund, United Nations High Commission for Refugees, United Nations Development Programme, and World Bank.

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Decentralized Identity Software Market Shaping A New Growth Cycle | Jolocom, Microsoft, Nuggets …

HTF MI added a new research study on Global Decentralized Identity Software Market in its repository, aims to offers a detailed overview of the factors influencing the worldwide business orientation and overall outlook. Study highlights recent market insights with disrupted trends and breakdown of Decentralized Identity Software Market products and offering along with impact due to macro-economic headwinds and matured western countries slowdown. Quantitative statistics with qualitative reasoning are evaluated on Decentralized Identity Software market size, share, growth and trending influencing factors with Pre and Post 2020 Impact on Decentralized Identity Software Market leaders and emerging players. Some of the players that are included as part of study are 1Kosmos, Accenture, Authentiq, BitMark, Block Systems, BlockCypher, BlockScore, Blockstack, Bloom Protocol, Cambridge Blockchain, Civic Technologies, Cove Identity, CREDEBL, Datarella GmbH, Everest, EVERNYM, ExistenceID, FINEMA, Hyperledger, Jolocom, Microsoft, Nuggets Tokens, Nxt Platform, R3, Serto, uPort & VeriMe.

If you are involved in the Decentralized Identity Software product offering or planning to enter, then this study will provide you comprehensive outlook and consequential analysis of Decentralized Identity Software companies and trending segments.

Get the inside scoop with free Sample report @: https://www.htfmarketreport.com/sample-report/3314614-2021-2030-report-on-global-decentralized-identity-software-market

The Global Decentralized Identity Software research study is segmented by Types [, On-premises & Cloud-based] as well as by Applications [SMEs & Large Enterprises] with historical and future market size & % share along with the growth rate. Important geographical regions like North America, Europe, Asia-Pacific etc and leading players such as 1Kosmos, Accenture, Authentiq, BitMark, Block Systems, BlockCypher, BlockScore, Blockstack, Bloom Protocol, Cambridge Blockchain, Civic Technologies, Cove Identity, CREDEBL, Datarella GmbH, Everest, EVERNYM, ExistenceID, FINEMA, Hyperledger, Jolocom, Microsoft, Nuggets Tokens, Nxt Platform, R3, Serto, uPort & VeriMe are included. The report gives a clear idea about the growth factors, reasons for upliftment / deterioration of Decentralized Identity Software players in recent years and different opportunities and strategies to expand market.

To analyse different players of interest matching your business objectives from Decentralized Identity Software industry by geography or specific country; share customized requirement now.

Ask Our Expert for customization and feasibility @: https://www.htfmarketreport.com/enquiry-before-buy/3314614-2021-2030-report-on-global-decentralized-identity-software-market

Strategic Points Covered in Global Decentralized Identity Software Market Table of Content

Chapter 1: Introduction, the basic information of the Global Decentralized Identity Software Market & product overview

Chapter 2: Objective of Study and Research Scope of the Decentralized Identity Software market

Chapter 3: Decentralized Identity Software Market Dynamics- driving growth factors, disruptive forces, Trends and Challenges & Opportunities

Chapter 4: Market Factor Analysis, Decentralized Identity Software Value Chain, PESTEL & PORTER Model, Market Entropy, Patent/Trademark Analysis

Chapter 5: Player Analysis; Competitive Landscape, Peer Group Analysis of Decentralized Identity Software, Strategic Group Analysis, Perpetual Mapping, BCG Matrix & Company Profiling

Chapter 6: Displaying Market Revenue Size by Type, application /vertical or end users, other Segments (2016-2026)

Chapter 7: To evaluate the market by countries further broken down by countries (2016-2026)

Chapter 8: Research Methodology

Chapter 9: Data Source

…….

Major Highlights of Decentralized Identity Software Competitive Landscape

The company profile section of Decentralized Identity Software study analyses the company’s operational structure, major products and services offering, geographic footprints and subsidiaries, key management executives and their biographies along with major and closest peer competitors.

Understand and respond to Global Decentralized Identity Software Market competitors; business strategies, and capitalize on strength and weakness with SWOT analysis.

Latest developments of Decentralized Identity Software players and track findings and outcome following development.

Potential investments and merger & acquisition targets set by giants in Decentralized Identity Software Industry, with detailed insight into the company’s strategic & top-line and bottom-line performance.

Highlighting key financial ratio and metrics of public and private companies of Decentralized Identity Software that include the revenue trends, growth margins, liquidity and leverage and efficiency ratios.

To add value to product and services; Decentralized Identity Software research comprises of valuable measures showing distinguishable traits/features that influence end user’s behaviour and demand metrics.

Buy Latest Edition to Get full access of Global Decentralized Identity Software Market Report @: https://www.htfmarketreport.com/buy-now?format=1&report=3314614

Thanks for reading Decentralized Identity Software Industry Research Publication; you can also get individual country or region wise report version like LATAM, NORDIC, North America, Eastern Europe, USA, Europe or Asia Pacific.

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Blockchain in Fintech Market Next Big Thing | Major Giants AWS, IBM, Microsoft

A latest survey on Global Blockchain in Fintech Market is conducted to provide hidden gems performance analysis. The study is a perfect mix of qualitative and quantitative information covering market size breakdown of revenue and volume (if applicable) by important segments. The report bridges the historical data from 2014 to 2019 and forecasted till 2025*. The outbreak of covid-19 in global market haves made companies uncertain about their future secario as the prolonged lock-down finds serious economic slump. Some are the key & emerging players that are part of coverage and have being profiled are AWS [United States], IBM [United States], Microsoft [United States ], Ripple [United States], Chain [United States], Earthport [United Kingdom], Bitfury [United States], BTL Group [Canada], Oracle [United States], Digital Asset Holdings [United States], Circle [Ireland], Factom [United States], AlphaPoint [United Kingdom], Coinbase [United States], Abra [United States], Auxesis Group [India], BitPay [United States], BlockCypher [United States], Applied Blockchain [United Kingdom], RecordesKeeper [Spain], Symbiont [United States], Guardtime [Estonia], Cambridge Blockchain [United States], Tradle [United States] and Blockchain Advisory Mauritius Foundation [Mauritius], Everledger [United Kingdom], Xapo [Switzerland], Hyperledger Project [United States], Barclays [United Kingdom], Deloitte [United Kingdom] and PwC. [United Kingdom].

Click to get Global Blockchain in Fintech Market Research Sample PDF Copy Here @: https://www.htfmarketreport.com/sample-report/1518326-global-blockchain-in-fintech-market-1

If you are involved in the Global Blockchain in Fintech industry or intend to be, then this study will provide you comprehensive outlook. It’s vital you keep your market knowledge up to date segmented by major players. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization according to your requirement.

Competition Analysis:

With the drastic change in consumers behavior, firms and brands are curious to understand the implications for their products and services. Some of key competitors or manufacturers included in the study are AWS [United States], IBM [United States], Microsoft [United States ], Ripple [United States], Chain [United States], Earthport [United Kingdom], Bitfury [United States], BTL Group [Canada], Oracle [United States], Digital Asset Holdings [United States], Circle [Ireland], Factom [United States], AlphaPoint [United Kingdom], Coinbase [United States], Abra [United States], Auxesis Group [India], BitPay [United States], BlockCypher [United States], Applied Blockchain [United Kingdom], RecordesKeeper [Spain], Symbiont [United States], Guardtime [Estonia], Cambridge Blockchain [United States], Tradle [United States] and Blockchain Advisory Mauritius Foundation [Mauritius], Everledger [United Kingdom], Xapo [Switzerland], Hyperledger Project [United States], Barclays [United Kingdom], Deloitte [United Kingdom] and PwC. [United Kingdom].

Market Drivers

Growing Cryptocurrency Market

Rising Awareness About Potential Benefits of Block-chain in Finance Industries

Reduced Total Cost of Ownership

Market Trend

Growing Use of AI for Automation

Increasing Adoption of Mobile Technology to Avail Financial Services

Restraints

Lack of Block-chain Applications and Use Cases

Uncertainty About Potential Application of Block-chain

Opportunities

Innovative and Programmable Block-chain Platforms and Growing Use of Block-chain Technology in Payments, Smart Contracts and Digital Identities

Quantitative Data:

Market Data breakdown by key geographies, Type & Application/End-users

• Blockchain in Fintech Market Revenue & Growth Rate by Type [Type 1, Type 2, Type 3] (Historical & Forecast)

• Blockchain in Fintech Market Revenue & Growth Rate by Application [Application 1, Application 2, Application 3] (Historical & Forecast)

• Blockchain in Fintech Market Revenue & Growth Rate by Each Region Specified (Historical & Forecast)

• Blockchain in Fintech Market Volume & Growth Rate by Each Region Specified, Application & Type (Historical & Forecast)

• Blockchain in Fintech Market Revenue, Volume & Y-O-Y Growth Rate by Players (Base Year)

Enquire for customization in Report @ https://www.htfmarketreport.com/enquiry-before-buy/1518326-global-blockchain-in-fintech-market-1

Important Features that are under offering & key highlights of the Blockchain in Fintech market report:

1. Why lots of Key players are not profiled in Study?

–> The study is conducted by collecting data of various companies from the industry, and the base for coverage is NAICS standards. However, the study is not limited to profile only few companies. Currently the research report is listed with players like AWS [United States], IBM [United States], Microsoft [United States ], Ripple [United States], Chain [United States], Earthport [United Kingdom], Bitfury [United States], BTL Group [Canada], Oracle [United States], Digital Asset Holdings [United States], Circle [Ireland], Factom [United States], AlphaPoint [United Kingdom], Coinbase [United States], Abra [United States], Auxesis Group [India], BitPay [United States], BlockCypher [United States], Applied Blockchain [United Kingdom], RecordesKeeper [Spain], Symbiont [United States], Guardtime [Estonia], Cambridge Blockchain [United States], Tradle [United States] and Blockchain Advisory Mauritius Foundation [Mauritius], Everledger [United Kingdom], Xapo [Switzerland], Hyperledger Project [United States], Barclays [United Kingdom], Deloitte [United Kingdom] and PwC. [United Kingdom].

2. Do Scope of Market Study allows further Segmentation?

—> Yes, for a deep dive we do provide add-on segmentation in premium version of report to better derive market values. The standard version of this report covers segmentation by Application [Application 1, Application 2, Application 3], by Type [Type 1, Type 2, Type 3] and by Regions [Key Target Audience]

3. What value addition does Country landscape will provide?

—> In the premium version of report, two-level of regional segmentation allows user to have access to country level break-up of market Size by revenue and volume*

* Wherever applicable

Buy Single User License of Global Blockchain in Fintech Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025 @ https://www.htfmarketreport.com/buy-now?format=1&report=1518326

HTF MI also provides customized specific regional and country-level reports for the following areas.

• North America: United States, Canada, and Mexico.

• South & Central America: Argentina, Chile, and Brazil.

• Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt and South Africa.

• Europe: the United Kingdom, France, Italy, Germany, Spain, and Russia.

• Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, and Australia etc.

Browse for Full Report at @: https://www.htfmarketreport.com/reports/1518326-global-blockchain-in-fintech-market-1

Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.



Contact US :

Craig Francis (PR & Marketing Manager)

HTF Market Intelligence Consulting Private Limited

Unit No. 429, Parsonage Road Edison, NJ

New Jersey USA – 08837

Phone: +1 (206) 317 1218

[email protected]



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Blockchain in Fintech Market is Set to Experience a Revolutionary Growth | AWS, IBM, Microsoft …

A latest survey on Global Blockchain in Fintech Market is conducted to provide hidden gems performance analysis. The study is a perfect mix of qualitative and quantitative information covering market size breakdown of revenue and volume (if applicable) by important segments. The report bridges the historical data from 2014 to 2019 and forecasted till 2025*. The outbreak of covid-19 in global market haves made companies uncertain about their future secario as the prolonged lock-down finds serious economic slump. Some are the key & emerging players that are part of coverage and have being profiled are AWS [United States], IBM [United States], Microsoft [United States ], Ripple [United States], Chain [United States], Earthport [United Kingdom], Bitfury [United States], BTL Group [Canada], Oracle [United States], Digital Asset Holdings [United States], Circle [Ireland], Factom [United States], AlphaPoint [United Kingdom], Coinbase [United States], Abra [United States], Auxesis Group [India], BitPay [United States], BlockCypher [United States], Applied Blockchain [United Kingdom], RecordesKeeper [Spain], Symbiont [United States], Guardtime [Estonia], Cambridge Blockchain [United States], Tradle [United States] and Blockchain Advisory Mauritius Foundation [Mauritius], Everledger [United Kingdom], Xapo [Switzerland], Hyperledger Project [United States], Barclays [United Kingdom], Deloitte [United Kingdom] and PwC. [United Kingdom].

Click to get Global Blockchain in Fintech Market Research Sample PDF Copy Here @: https://www.htfmarketreport.com/sample-report/1518326-global-blockchain-in-fintech-market-1

If you are involved in the Global Blockchain in Fintech industry or intend to be, then this study will provide you comprehensive outlook. It’s vital you keep your market knowledge up to date segmented by major players. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization according to your requirement.

Competition Analysis:

With the drastic change in consumers behavior, firms and brands are curious to understand the implications for their products and services. Some of key competitors or manufacturers included in the study are AWS [United States], IBM [United States], Microsoft [United States ], Ripple [United States], Chain [United States], Earthport [United Kingdom], Bitfury [United States], BTL Group [Canada], Oracle [United States], Digital Asset Holdings [United States], Circle [Ireland], Factom [United States], AlphaPoint [United Kingdom], Coinbase [United States], Abra [United States], Auxesis Group [India], BitPay [United States], BlockCypher [United States], Applied Blockchain [United Kingdom], RecordesKeeper [Spain], Symbiont [United States], Guardtime [Estonia], Cambridge Blockchain [United States], Tradle [United States] and Blockchain Advisory Mauritius Foundation [Mauritius], Everledger [United Kingdom], Xapo [Switzerland], Hyperledger Project [United States], Barclays [United Kingdom], Deloitte [United Kingdom] and PwC. [United Kingdom].

Market Drivers

Growing Cryptocurrency Market

Rising Awareness About Potential Benefits of Block-chain in Finance Industries

Reduced Total Cost of Ownership

Market Trend

Growing Use of AI for Automation

Increasing Adoption of Mobile Technology to Avail Financial Services

Restraints

Lack of Block-chain Applications and Use Cases

Uncertainty About Potential Application of Block-chain

Opportunities

Innovative and Programmable Block-chain Platforms and Growing Use of Block-chain Technology in Payments, Smart Contracts and Digital Identities

Quantitative Data:

Market Data breakdown by key geographies, Type & Application/End-users

Blockchain in Fintech Market Revenue & Growth Rate by Type [Type 1, Type 2, Type 3] (Historical & Forecast)

Blockchain in Fintech Market Revenue & Growth Rate by Application [Application 1, Application 2, Application 3] (Historical & Forecast)

Blockchain in Fintech Market Revenue & Growth Rate by Each Region Specified (Historical & Forecast)

Blockchain in Fintech Market Volume & Growth Rate by Each Region Specified, Application & Type (Historical & Forecast)

Blockchain in Fintech Market Revenue, Volume & Y-O-Y Growth Rate by Players (Base Year)

Enquire for customization in Report @ https://www.htfmarketreport.com/enquiry-before-buy/1518326-global-blockchain-in-fintech-market-1

Important Features that are under offering & key highlights of the Blockchain in Fintech market report:

1. Why lots of Key players are not profiled in Study?

–> The study is conducted by collecting data of various companies from the industry, and the base for coverage is NAICS standards. However, the study is not limited to profile only few companies. Currently the research report is listed with players like AWS [United States], IBM [United States], Microsoft [United States ], Ripple [United States], Chain [United States], Earthport [United Kingdom], Bitfury [United States], BTL Group [Canada], Oracle [United States], Digital Asset Holdings [United States], Circle [Ireland], Factom [United States], AlphaPoint [United Kingdom], Coinbase [United States], Abra [United States], Auxesis Group [India], BitPay [United States], BlockCypher [United States], Applied Blockchain [United Kingdom], RecordesKeeper [Spain], Symbiont [United States], Guardtime [Estonia], Cambridge Blockchain [United States], Tradle [United States] and Blockchain Advisory Mauritius Foundation [Mauritius], Everledger [United Kingdom], Xapo [Switzerland], Hyperledger Project [United States], Barclays [United Kingdom], Deloitte [United Kingdom] and PwC. [United Kingdom].

2. Do Scope of Market Study allows further Segmentation?

—> Yes, for a deep dive we do provide add-on segmentation in premium version of report to better derive market values. The standard version of this report covers segmentation by Application [Application 1, Application 2, Application 3], by Type [Type 1, Type 2, Type 3] and by Regions [North America, Europe, Asia-Pacific etc]

3. What value addition does Country landscape will provide?

—> In the premium version of report, two-level of regional segmentation allows user to have access to country level break-up of market Size by revenue and volume*

* Wherever applicable

Buy Single User License of Global Blockchain in Fintech Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025 @ https://www.htfmarketreport.com/buy-now?format=1&report=1518326

HTF MI also provides customized specific regional and country-level reports for the following areas.

• North America: United States, Canada, and Mexico.

• South & Central America: Argentina, Chile, and Brazil.

• Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt and South Africa.

• Europe: the United Kingdom, France, Italy, Germany, Spain, and Russia.

• Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, and Australia etc.

Browse for Full Report at @: https://www.htfmarketreport.com/reports/1518326-global-blockchain-in-fintech-market-1

Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.



Contact US :

Craig Francis (PR & Marketing Manager)

HTF Market Intelligence Consulting Private Limited

Unit No. 429, Parsonage Road Edison, NJ

New Jersey USA – 08837

Phone: +1 (206) 317 1218

[email protected]



Connect with us atLinkedIn | Facebook | Twitter

https://clarkcountyblog.com/

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Top Asian Enterprises Become Member of Hyperledger

Market NewsDecember 13, 2020 by Kelly Cromley

Hyperledger has revealed that eight enterprises have joined its blockchain venture as full member and four of them are from Asia. This includes renowned firms such as JD Digits, fintech and digital arm of JD.com and French energy firm EDF.

Red Date Technology, the enterprise backing China government aided Blockchain based Service Network (BSN) is another firm. Notably, State Information Center of China (SIC), which aims to spread its wings globally, backs BSN.

In 2020, Hyperledger made a greater marketing attempt in Asia by conducting certain routine online association discussions at times well-suited for Asian organizations. Trade funding working group can be cited as example as it has considerable operations in the Europe and Asia.

The institution is commemorating fifth anniversary of Hyperledger with a plethora of online forums and networking program across the community. Rest of the eight members is Octo Technology, Troon Technologies, WISeKey, Taiwan’s BSOS and Shanghai Tianji Network.

Interestingly, JD Digits is participating in piloting of digital yuan, the central bank digital currency project backed by the government of China. In the days ahead, 100,000 Chinese citizens who are winners of promotion program conducted by Suzhou City can expend the funds at several stores, including JD.com.

Even though JD operates a native, open-source blockchain JD Chain, VP Cao Peng stated that “JD Digits Blockchain as a Service Platform, is still compatible with the Hyperledger Fabric, which has a large user base.”

Peng further said “Together with Hyperledger, we look forward to promoting the safe, rapid and equitable flow of global data and values to build a credible ecosystem of co-construction, co-governance and sharing.”

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Major Asian blockchain firms join Hyperledger

Yesterday Hyperledger announced eight new full members of the enterprise blockchain collaborative, half from Asia. Perhaps the biggest names are French energy firm EDF and JD Digits, the fintech and digital arm of JD.com, China’s version of Amazon. Another is Red Date Technology, one of the firms behind China’s Blockchain-based Service Network (BSN), which is backed by the State Information Center of China (SIC) and has significant international ambitions.

This year Hyperledger has made an even stronger community push in Asia, holding some of its regular online group meetings at Asian friendly times. An example is the trade finance working group where there’s significant activity in Asia and Europe.

The organization is currently celebrating Five Years of Hyperledger with a series of online panels and a community-wide networking session.

The other new members include Taiwan’s BSOS, Octo Technology, Shanghai Tianji Network, Troon Technologies and WISeKey.

Notably, JD Digits is a participant in China’s digital yuan central bank digital currency trials. Next week 100,000 citizens who won a lottery give-away in Suzhou City will be able to spend the money at JD.com and other stores.

While JD has its own open-source blockchain JD Chain, VP Cao Peng noted that “JD Digits Blockchain as a Service Platform, is still compatible with the Hyperledger Fabric, which has a large user base.” He continued, “Together with Hyperledger, we look forward to promoting the safe, rapid and equitable flow of global data and values to build a credible ecosystem of co-construction, co-governance and sharing.”

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Velmie Review: White-Label Wallet & Payment Systems Provider

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Established 8 years ago – Velmie has built up a reputation as a top-tier financial technology provider, specializing in delivering fiat and crypto wallet solutions for FinTech companies. It has loads of options – and an excellent track record in the industry.

Velmie has successfully developed and launched various products for enterprises and financial institutions, including back-end solutions, desktop, and mobile applications.

Velmie Creates Scalable Payment Solutions

Over the past few years, Velmie has expanded its businesses globally. It operates in some of the largest markets – and also emerging regions, including the US, Europe, Africa, and the Middle East.

Velmie distinguishes itself from other wallet vendors by providing more professional banking technology solutions for specialized financial institutions. Its platform also offers tools like double-entry bookkeeping, the four-eyes principle, and the audit trail record.

These features are empowered by cutting-edge technologies, such as Go and Flutter, which utilize advanced containerization and microservices.

Velmie: White-Label Mobile Wallet Solution
Velmie: White-Label Mobile Wallet Solution

The Microservices Advantage

Microservices architecture allows Velmie to deploy distributed technologies in order to surpass weaknesses in traditional monolithic design, by enabling to flexibly choose the most adaptive option for specific problems.

This kind of architecture gives Velmie a superior ability to improve scalability and reliability for its platform – and other applications that use it as a base.

The company has shown that it can engineer and deliver comprehensive and innovative solutions that establish a connection between everyone in the ecosystem. Velmie is a good choice for FinTech companies that want to narrow down their payment solution concerns and focus more on businesses.

Velmie’s platform can integrate a clients’ system with banks and payment processors, allowing them to create customizations thanks to the support from an enthusiastic and dedicated customer team.

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A Great Track Record

After 8 years in the marketplace, Velmie has made a positive impact on the wallets and payments space.

It was named by Clutch as the Top Blockchain Agency on more than one occasion. Velmie has cooperated with several international brands, for instance, they were one of the early adopters of Hyperledger Fabric platform to build nationwide tokenized payments solutions on the emerging markets.

This partnership marked a break-through of the integration between a white-label mobile payment solution and Hyperledger ecosystem, which enables security, traceability, and other advanced functionalities over the entire network.

Core Product Features

Velmie is committed to building an inclusive solution package so as to satisfy each and every client and partner. It has created a rock-solid platform and can work with businesses to make the right kind of payments or wallet platform a reality.

Velmie’s strengths come from a deep knowledge of the industry as well as knowing its customers, which makes it able to develop and constantly improve their products and features.

Let’s take a look at some of the core features of the platform.

  • Multi-currency support, including both fiat money and cryptocurrencies. Velmie provides a White-Label Multi-Asset Trading Platform to help enterprises quickly adopt crypto transactions for their customers. With Velmie’s Digital Asset Trading, FinTech companies can focus on scaling up their business without worrying about technologies or security. Currently, Velmies supports more than 150 fiat and cryptocurrencies.
  • Individual and business accounts. Velmie offers 2 types of accounts so that both individual traders and enterprises or FinTech organizations can get joyful experiences with While-Label Mobile Payment on Velmie.
  • Tiered KYC system out of the box. Velmie totally understands and commits to fully complying with KYC/AML, hence extra measures are applied in order to maintain the privacy and safety of user accounts. Organizations are able to configure custom workflows and integrate KYC Data Intelligence source to offer customers various registration approval methods.
  • Instant P2P transfers between users.
    With the Multi-Asset Trading Platform, Velmie is able to employ real-time transactions and conversions among different fiat and cryptocurrencies. Multisignature transactions are confirmed instantaneously from all corners of the world, with the capacity of over 100,000 transactions/second.
  • QR payments for clients and merchants. To make payment become easy and fast-forward, Velmie implements plenty of integrations into its wallet, including real-time payment through NFC, QR code, and biometric authorization. Payments can be generated and received between buyers and merchants in basically no time.
  • Multiple types of accounts including credit and savings. Velmie allows admin to gain complete control over the client’s accounts and create new accounts with relevant functions. Depending on each client and typical workflow, the admin can authorize an account with either debit or credit function.
  • Multi-language support. To overcome language barriers and assist clients from different nations and regions immediately seek answers for their inquiries and prevent their operation from being unnecessarily interrupted.

    Card management issuing and management. Card payments are also integrated on Velmie’s platform. Furthermore, users can request to get either physical or virtual cards issued and attached to their wallets.

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More Services

Besides the above-mentioned core products, Velmie also offers other services and solutions on a bespoke basis. These services concentrate on enhancing the total system and delivering the right features for every client.

  • Platform customizations. Based on particular requests from clients and self-evaluation, Velmie will customize the platform to meet clients’ functional requirements, markets to serve, compliance requirements, and other factors. All on-demand customizations are handled in-house and transferred to clients, ensuring their operation is maintained in accordance with original purposes, while utilizing the power of While-Label Mobile Payment and other blockchain applications.
  • Custom integrations. Velmie has established close connections with many suppliers and financial institutions. That is the premise for the company to develop solutions for FinTech businesses and help integrate wallet platform to different third parties, from KYC/AML service providers, payment gateways to commercial banks. Thanks to that, all incoming and outgoing transactions are enabled and run smoothly through Velmie’s platform.
  • Dedicated development teams. Velmie’s products and services are developed by a professional team with a deep expertise in technology, platform, blockchain, finance and other related sectors. Until now, the company has successfully earned contracts and partnerships with many global corporates worldwide. Coming to Velmie, FinTech enterprises and funded startups can benefit from hiring dedicated teams that have gained from numerous real-world development cycles.

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A Comprehensive Platform for While Label Payment Solutions

Thanks to Velmie, there is no need for FinTech companies to create their own payment gateway – as Velmie can offer both off the shelf and custom solutions for just about any system.

In addition to an amazing specs sheet, Velmie has loads of real-world experience to draw on – as well as a talented team that is ready to work with companies both large and small. With all of these advantages – it is difficult to consider creating a payment solution from the ground up.

If you want to learn more about what Velmie can do for your company, or how it may be able to improve on your current payments system – just click here to visit the portfolio, and learn more about how it has helped other companies compete in the digital economy.

The post Velmie Review: White-Label Wallet & Payment Systems Provider appeared first on Blockonomi.





Source: Velmie Review: White-Label Wallet & Payment Systems Provider

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Russia’s Largest Bank Sberbank Looks to Launch Stablecoin under New Crypto Law

The state-owned Sberbank’s stablecoin will be functional on its native blockchain built using the Hyperledger Fabric infrastructure. This blockchain will facilitate trade finance transactions involving the exchanging letters of credit.

Russia’s largest banking institution Sberbank is mulling out options to launch its own stablecoin, a digital currency backed by real-world assets. As per reports, the new stable coin will work on Sberbank’s own blockchain platform built on the Hyperledger Network. As per the bank representatives, the Sberbank blockchain will facilitate trade finance transactions. Furthermore, its major focus will be on transactions involving the exchanging letters of credit.

Sergey Popov, director of state-owned Sberbank’s transaction business, said that the new stablecoin will be pegged 1-1 to the Russian ruble. Initially, the Sberbank also plans to limit the stablecoin use only to buy digital assets as per local new publication Vedomosti.

Just a week or two back, Russia rolled out its digital assets law dubbed “On Digital Financial Assets” (DFA) which will come into force by January 2021. Hence, for the time being, Sberbank is just working out options with the stablecoin. Once the crypto law comes into action, Sberbank will join hands with its partners and proceed ahead with the project.

On July 31, Russian President Vladimir Putin himself signed on two DFA bills to bring them into law. However, this bill prohibits Russians from conducting transactions in Bitcoin and other digital currencies.

Speaking on this matter, Popov said:

“We probably may issue a stablecoin on the basis of the law that has been adopted recently. As we can peg this stablecoin to the ruble, this token could become a basis or an instrument for settlements involving other digital financial assets.”

Popov added that the stablecoin, which is currently under consideration, will facilitate settlements involving digital and virtual financial assets.

Stablecoin from Sberbank Will Ensure Faster Payments and Settlements

Sberbank is looking to launch its Hyperledger-based blockchain platform by Q3 2020. A stablecoin will be a logical component of this blockchain platform facilitating faster payments and settlements.

Although the blockchain system will use Hyperledger’s Fabric blockchain framework, the node hosting will happen in Sberbank’s own cloud computing service SberCloud. Sberbank said that the system will remain open for any company to join and host a node. Speaking to CoinDesk, Sberbank’s deputy chair Anatoly Popov said:

“Any company will be able to use smart contracts created by Sberbank right away or create their own. Payments via smart contracts go through automatically and the vendors receive funds in a matter of seconds.”

Moreover, trade finance will be just one such potential use case for the platform. Sberbank also plans to add some of its existing service to its blockchain network.

You can find more news from the blockchain industry following the link.

Altcoin News, Blockchain News, FinTech News, News

Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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