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Linkage Pay Brings Disruption Changes to the Payment Status Quo

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Linkage Pay

With the development of fintech breakthroughs such as blockchain, big data, cloud computing, and artificial intelligence, the financial sector has witnessed unprecedented paradigm shifts in the past decade. The ever-shifting digital landscape opens possibilities of new business models and consumer behaviours. The acceptive attitude towards novel concepts accelerates the gradual implementation of nascent technologies in traditional sectors. Linkage Pay emerges as a timely response to the shifting landscape of the payment industry and sets out to bring about disruptive changes to the payment industry.

What is Linkage Pay?

Linkage Pay is committed to the improvement of global payment solutions. By moving the bulk of offline trading services online, Linkage Pay will revolutionize the payment process and empower users to manage their assets more efficiently. These services include transactions, exchange, trading, clearing and settlement, and payment services. The integration of transaction channels and customer-oriented services will afford clients a one-stop experience that is not only convenient but also highly secure. Linkage Pay boasts four key competitive advantages that set it apart from mainstream online payment platforms. These competitive advantages are innovative payment, rapid settlement, integrated payment, and smart business.

Linkage Pay’s Business Model

1. Integrated Payment

The traditional payment system is cumbered with layers of red tape, resulting in low efficiency and high processing fee. On top of that, the traditional system relies heavily on third or even fourth-party platforms. The dependence on external factors renders the system more vulnerable to inconsistency, unexpected account closure, among other potential risks. Leveraging blockchain technology, Linkage Pay makes rapid peer-to-peer payment a reality, by offering the most straightforward solution to issues such as complex processes and high exchange rates.

2. Financial Settlement

Linkage Pay’s payment system mobilizes innovative payment technology to circumvent information monitoring and high gas fees incurred from the over reliance on third-party platforms. Linkage Pay, in collaboration with Alipay and WeChat Pay, aims to minimize redundancy during the payment processes and cut operating costs by 30 to 50 percent.

3. Investment and Asset Management  

Linkage Pay utilizes a portion of the savings to maintain liquidity. The fund will be used to invest in sound and low-risk financial products during the capital accumulation phase to generate multiple returns for the clients.

4. Technical Competitiveness

Linkage Pay incorporates automatic confirmation of Alipay and WeChat Pay barcode in the payment system. A single transaction of US$100 – $50,000 typically generate a return rate of 0.5% to 1%. These transactions can be repeated multiple times in a same day until the platform quota is met.

About the Team

Linkage Pay boasts a team of sophisticated industry professionals from diverse backgrounds. Its co-founder, Jimmy Li, takes on multiple managerial roles in tech startups, including AVG Group and Influence Chain. Graduated with a master’s degree in Supply Chain Management from a prestigious university, Jimmy has established himself as a top-tier supply chain analyst, before venturing into the world of entrepreneurship. In 2013, he founded Ads Venture Group (AVG), which has since become the largest Chinese digital media company in Southeast Asia, with branch offices operating in 7 countries and providing services to industry giants, including Baidu, Alibaba, and Tencent. In 2016, Jimmy challenged the status quo of the payment industry by establishing AIC Fintech, a firm committed to providing digital payment solutions powered by blockchain technology. In a short span of five years, Jimmy has attained several prominent awards under his belt, including being accorded the honour of Young Eminent Overseas Chinese. He has been named as an adjunct professor at the MBA centre of Shanghai University in recognition of his extensive contributions to the university and the industry.

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SOS Limited Announces Exercise of Warrants for $26.6 Million Gross Proceeds

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SOS Limited (NYSE: SOS) (the “Company” or “SOS”) today announced the agreement by several accredited investors to exercise certain warrants to purchase up to an aggregate of 16,125,000 of its American Depositary Shares (“ADSs”) issued by the company on December 22, 2020, at an exercise price of $1.55, and January 7, 2021, at an exercise price of $1.85 per ADS, respectively.

The ADSs issuable upon exercise of the warrants are registered pursuant to a registration statement on Form F-3 (File No. 333-250145) which became effective by the Securities and Exchange Commission (SEC) on November 30, 2020. The gross proceeds to the company from the exercise of the warrants are expected to be approximately $26.6 million, prior to deducting placement agent fees and estimated offering expenses.

Maxim Group LLC is acting as the exclusive placement agent for the offering.

In consideration for the immediate exercise of the warrants for cash, the exercising holders will receive new unregistered warrants to purchase ADSs in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”). The warrants will be exercisable into an aggregate of up to 25,800,000 ADSs, at an exercise price of $2.00 per ADS, which have a term of exercise approximately equal to five years.

SOS intends to use the proceeds from the offering to develop its planned blockchain-based cryptocurrency mining and security and insurance technology business and acquisition in the cryptocurrency industry as well as for working capital and general corporate use.

The new warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the 1933 Act and, along with the ADSs issuable upon their exercise, have not been registered under the 1933 Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. The company has agreed to file a registration statement with the SEC covering the resale of the ADSs issuable upon exercise of the new warrants.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About SOS Limited

SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. (“SOS”) is a high-technology company providing a wide range of services to its corporate and individual members, including marketing data, technology and solutions for emergency rescue services. SOS transforms digital technology into data-driven operations through the research and development of big data, cloud computing, Internet of Things, blockchain and artificial intelligence.

We have created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories: basic cloud, cooperative cloud, and information. This system provides innovative marketing solutions to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry.

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BuyBSV.com expands to seven new countries

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BuyBSV

As the Bitcoin SV blockchain expands so does the need for easy accessibility and as a result you can now buy Bitcoin SV (BSV) on BuyBSV.com with VISA or MasterCard in: Argentina, Colombia, Chile, Greenland, Kenya, Peru & Taiwan.

This global expansion is additional to the United States, Canada, Brazil, Australia, New Zealand, India, Philippines, Indonesia, Malaysia and European countries, namely, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Romania and United Kingdom.

Furthermore, websites, portals, blogs and vlogs can now embed our specially designed widget to their content allowing visitors easily purchase BSV and tip, pay for content, products or experiences with BSV. Just fill out the form at the bottom of the buyBSV.com website.

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SkyBridge Enters Bitcoin Market With New Allocation, Fund Offering

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Digital Money

SkyBridge Capital, a leading global alternative investment firm, today announced the launch of the SkyBridge Bitcoin Fund LP, which provides mass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin. Additionally, on behalf of its flagship funds, SkyBridge initiated a position, valued at approximately $310 million at the time of this release, in funds investing in Bitcoin during November and December 2020.

To launch SkyBridge Bitcoin Fund LP, SkyBridge and its affiliates have invested $25.3 million. SkyBridge is among the most well-established financial institutions to launch a Bitcoin product, offering a secure and easy way to buy and sell Bitcoin. Fidelity will serve as custodian, and Ernst & Young will audit the fund.

“We believe Bitcoin is in its early innings as an exciting new asset class,” said SkyBridge founder and managing partner Anthony Scaramucci. “With the institutional quality custody solutions available today, we believe the time is right to allocate capital and provide our clients access to the digital assets space.”

Despite growing retail demand for digital currency, Wall Street firms have largely avoided the market due to concerns around security. With the launch of the SkyBridge Bitcoin Fund LP, investors will have access to institutional-quality custody and operation, without forcing investors to directly hold Bitcoin.

“Bitcoin is leading a digital monetary revolution around the world,” said Brett Messing, SkyBridge President and Chief Operating Officer. “We believe the onus has shifted from ‘why are you investing in Bitcoin?’ to ‘how are you not investing in Bitcoin?'”

In 2020, Bitcoin more than doubled in price and surpassed its 2017 market capitalization for an all-time high of over $500 billion. Today, one Bitcoin is valued at approximately $32,000.

“Our investment team has grown enthusiastic about Bitcoin’s properties as a portfolio diversifier and return generator,” said Troy Gayeski, SkyBridge Co-Chief Investment Officer and Senior Portfolio Manager. “Investors trust us to see around corners, and we believe it’s prudent now to allocate a small portion of your portfolio to digital assets.”

SkyBridge Bitcoin Fund LP builds on the firm’s longtime commitment to making alternative investment accessible to wider audiences. Among its products, SkyBridge’s flagship Series G fund offers modest minimum investment requirements for access to leading hedge fund managers.

“With global money printing at an all-time high, Bitcoin offers a strong alternative to gold as a store of value and hedge against future inflation,” said Ray Nolte, SkyBridge Co-Chief Investment Officer and Senior Partner.

The SkyBridge Bitcoin Fund LP will charge a 75-basis point management fee and no incentive fee. Accredited investors can subscribe directly to the fund, which requires a minimum investment of $50,000, at skybridgebitcoin.com. SkyBridge co-CIO Troy Gayeski authored a whitepaper on the firm’s decision to enter the Bitcoin market, which can also be found at skybridgebitcoin.com.

About SkyBridge 
SkyBridge is global alternative investment manager that provides a range of investment solutions to individuals and institutions. Addressing every type of market participant, SkyBridge’s investment offerings include commingled funds of hedge funds products, customized separate account portfolios, hedge fund advisory services, and an Opportunity Zone focused non-traded REIT. The firm is headquartered in New York. For more information, visit: www.skybridge.com.

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Future Fintech Group Inc. Announces $8 Million Registered Direct Offering

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FinTech

Future FinTech Group Inc. (NASDAQ: FTFT) (“Future FinTech”, “FTFT” or “the Company”), a leading blockchain based e-commerce company and a service provider for financial technology, today announced that it has entered into a definitive agreement with institutional investors for the purchase and sale of 4,210,530 shares of its common stock and common stock warrants to purchase up to 4,210,530 shares of common stock at a combined purchase price of $8,000,007 in a registered direct offering. The common stock warrants have an exercise price of $2.15 per share, and will be immediately exercisable and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about December 29, 2020, subject to the satisfaction of customary closing conditions.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-224686) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on December 11, 2020. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected]

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Future FinTech Group Inc.

Future FinTech Group Inc. (“Future FinTech”, “FTFT” or the “Company”) is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects. The Company is also engaged in the development of blockchain based technology and services as well as financial technology services. For more information, please visit http://www.ftftex.com/.

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AST’s Mutual Fund Proxy Campaign Platform ProxyIQ® Recognized as a 2020 Benzinga Fintech Awards Finalist

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AST today announces that its mutual fund proxy campaign management platform ProxyIQ has been recognized as a Benzinga finalist in the Best New Product category. Benzinga Fintech finalists comprise carefully vetted and renowned companies across 27 categories and executives who are striving to revolutionize the fintech industry. From deeply established companies to the newest startups, this group is impacting sectors like payments, banking, investing, technology and financial literacy. This list of carefully selected companies will be honored each year as Benzinga continues to highlight the fintech industry’s most innovative minds.

“We’re honored to have received this recognition for ProxyIQ from Benzinga, a reputable go-to destination for fintech trends and analysis,” said Martin Flanigan, President and CEO of AST. “The advantages of ProxyIQ and their recognition by Benzinga further confirm our leadership in providing ownership data management and analytics. We are proud to be recognized for our commitment to helping clients harness the power of their data.”

ProxyIQ is being recognized in the Best New Product category. ProxyIQ is a blockchain based proxy solicitation, tabulation and reporting engine supporting Mutual Fund, Equity, Insurance and other shareholder meetings or member voting events. Through blockchain technology, ProxyIQ provides near real time vote recognition and tabulation, allowing for transparency throughout the campaign. The immutable audit trail inherent in the blockchain provides confidence in the results for all parties. To date, AST has managed over 130 meetings on ProxyIQ, including over 26.5B shares voted through direct and third party channels.

“AST is harnessing the power of blockchain technology to provide companies and mutual funds with superior access to, and management of, ownership data. The blockchain technology positions AST to create deeper connectivity within the industry to streamline the process of reaching shareholders and tabulating voting,” says Paul Torre, President of Governance, Proxy and Ownership Services at AST.

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Curzio Research Completes Listing On MERJ Exchange

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France

Curzio Research, an emerging leader in the financial newsletter industry, has announced the successful listing of its digital security on MERJ Exchange under the ticker CEO. Curzio Research, a U.S. Delaware corporation (the “Company”), aims to disrupt the multi-billion-dollar financial newsletter industry. The Company’s current model helped generate more than $6 million in revenue in the first 24 months of operation. “MERJ Exchange offers the best of both worlds for investors of the CEO token… they get the benefits of a natively digital security and the protection of a regulated exchange,” stated Curzio Research CEO, Frank Curzio. “We chose MERJ Exchange because of their focus on regulatory compliance, global access and our ultimate ability to commence a public listing.”

In 2019, the Company partnered with Securitize, a token issuance and lifecycle management platform, to complete its digital security issuance and private placement offering to U.S. accredited investors and non-U.S. investors with exemptions under Regulation D and Regulation S of the Securities Exchange Act. The Company raised approximately $4 million almost entirely from its own client base. Upon the passing of the 12-month lock-up for CEO Token holders, the required process under rule 144 of the Securities Exchange Act, including the receipt of a legal opinion letter was completed, allowing global trading to public investors on MERJ Exchange.

MERJ commenced operations in 2011, as the national exchange operator for the Seychelles, and now counts over 40 issuers with a market cap of $1.6 billion. Through the adoption of innovative technologies, the exchange has become a leading venue for digital securities listings. Curzio Research is the fourth issuer to list a digital security on MERJ. Earlier this year MERJ successfully completed its own digital security IPO and according to World Federation of Exchanges data, became the fastest growing securities market in the world. Recently the exchange took a big step towards its goal of 24/7 trading by increasing its market trading hours from 6 to 20 hours to cover North America and more of the Asian trading time zones.

Ed Tuohy, CEO of MERJ Exchange, commented: “We are delighted to work with Curzio Research to bring its CEO Token to market. Curzio Research is an example of a high-quality company leveraging digital technology to provide an access point for investors from all over the world. The collaboration between Curzio, Securitize, Exponential and MERJ is helping to deliver a new interconnected version of the capital markets built on digital rails.”

Curzio Research was advised by Exponential Capital & Markets (ExC&M), a Sponsor Advisor to MERJ Exchange. Kyle Fry, CEO of ExC&M commented “The CEO token listing showcases best practices for preparing for a listing and is an important milestone for the entire global digital security space. Frank and his team at Curzio Research did everything to ensure regulatory and compliance guidelines were met from the start. We look forward to continuing to work with Curzio Research and the MERJ team to keep current and potential investors informed.”

Security Token Advisors acted as liquidity and investor relations advisor to Curzio Research and have supported the company since June 2020.

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Celebrating $200 Million of Institutional Trading, NDAX Expands OTC Desk for Global Investors

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Crypto Token

National Digital Asset Exchange Inc. (“NDAX”) is celebrating a milestone of $200 million in institutional trading with the expansion and re-branding of its over-the-counter (OTC) trading desk as NDAX Wealth. NDAX Wealth is a cryptocurrency OTC trading desk, tested and optimized to meet the needs of institutions (globally) and investors (in Canada) looking to trade $50,000 or more. NDAX Wealth offers seamless execution of high-volume block trades and gives access to a deep liquidity pool, industry-leading security, no price slippage, zero transaction confirmation, and same-day settlements against a range of cryptocurrencies and fiat currencies (CAD, USD, EUR, AUD).

NDAX Wealth features are optimized to meet the needs of:

  • Cryptocurrency mining firms
  • Hedge funds
  • Family offices
  • Brokerage firms
  • Merchants
  • Investment banks
  • High-volume day traders

“With a superior level of concierge service provided around the clock, NDAX Wealth trading desk is designed to connect investors with deep liquidity pools, creating hands-off seamless execution while helping to ensure the most competitive and same-day transactions,” Bilal Hammoud, CEO, President, & Founder of NDAX said. “NDAX believes that cryptocurrency and digital currency will play a major role in reshaping the future of our interconnected global economy. Institutional and professional traders (as per the Global Crypto Adoption Index ) have been the main adopters for 2020. NDAX works directly with these investors to arrange purchases and sales that are as unique as the needs of each client — executing transactions with minimal fees, deep liquidity, and the privacy and autonomy our clients expect.”

NDAX Wealth provides a seamless and secure high-volume trading experience with the benefit of a dedicated account executive to guide clients through initial consultations and each subsequent transaction.

Other features include:

  • No deposit fees
  • No withdrawal fees
  • Competitive execution fees
  • Zero confirmations for crypto deposits
  • Rest, Websocket, and FIX API connectivity
  • Around-the-clock human support
  • Dedicated account executives
  • Hybrid crypto transactions
  • Wide range of assets with a large liquidity pool
  • Institutional-grade security with segregated crypto accounts
  • Same-day settlements/segregated bank accounts
  • Industry-leading regulatory compliance

Hybrid crypto transactions
NDAX is providing the first hybrid crypto transaction experience in Canada. Giving users the choice to withdraw cryptocurrency instantaneously by whitelisting withdrawal addresses.

“At NDAX, we believe that custody of assets should be held safely with their owners, and for that, we are committed to educating our customers on how to safely hold their crypto. The hybrid crypto transaction model will enable safe withdrawal of funds to the wallet of the user’s choice automatically, without any intervention from the exchange, making it a safe non-custodial experience. For the members that still do not feel comfortable storing their crypto, NDAX continues to offer the best-in-class custody infrastructure,” Hammoud said.

Wide range of assets with a large liquidity pool
NDAX has a large selection of high market cap digital assets. However, if a coin isn’t listed on the exchange, NDAX Wealth clients can still inquire about trading it and NDAX will work with them to make a match.

Institutional-grade security with segregated crypto accounts
Clients’ cryptocurrency is stored in a multi-signature cold-storage powered by Ledger Vault, an institutional-grade cryptocurrency security solution.

NDAX Wealth, provides wealth management groups, hedge funds, and high-net-worth clients segregated Crypto-asset accounts with multi-governance infrastructure that provides users with full control over their portfolio of funds.

Same-day settlements/segregated bank accounts
Clients’ funds are safely stored with a Canadian Crown-owned bank in a segregated account. Our unique Canadian banking also allows for a variety of funding methods that ensure same-day settlement of your CAD or USD deposits and withdrawals.

Industry-leading regulatory compliance
NDAX is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) – Canada’s financial intelligence unit. We have established and implemented a robust compliance regime that adheres to the Proceeds of Crime, Money Laundering and Terrorist Financing Act (PCMLTFA) and associated Regulations.

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Following HBTC, Huobi Global to launch the H-token series on Ethereum

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Smart contracts

Huobi Global announces today the H-token series – a suite of assets that are issued on Ethereum and backed by cryptocurrencies from other blockchains to bring more digital assets to the Ethereum DeFi ecosystem.

Simple Facts of H-Token Series 

In February 2020, Huobi Global launched HBTC, an Ethereum-based token that can be  1:1 exchanged for BTC. A design like HBTC, which aims to be the bridge between the centralized and decentralized finance, ensures that users do not lose the value of BTC while enjoying the flexibility of Ethereum.

Today, approximately 5,000 HBTC has been minted, and these tokens enable users to seamlessly access decentralized protocols such as Uniswap, Curve, Balancer, Nest, and ForTube. In the near future, HBTC will also be used as DAI collateral on MakerDAO. HBTC’s growing use cases prove that its value has been recognized by the market.

At today’s launch, Huobi Global will provide three H-tokens, including DOT, LTC, and BCH. The combined market cap of these assets has approximated $1.1 billion and they are welcomed by crypto enthusiasts around the world.

The issuance of the H-series assets will allow more users in the crypto world to benefit from DeFi, accelerate the development of the Ethereum DeFi ecosystem, and promote the growth of Ethereum-based assets. As a bridge between centralization and decentralization, Huobi aims to make assets freer and allow hundreds of millions of people around the world to truly benefit from the development of DeFi.

“Huobi, as a bridge between the centralized and decentralized world, aims to liberate the wealth of the world. We hope to grow together with the Ethereum community, empower community projects, and actively embrace an open ecosystem,” said Huobi CIO and head of Huobi DeFi Labs Sharlyn Wu. “Huobi’s mission in DeFi is to provide the community with more high-quality assets, to make DeFi more inclusive, to make the global financial system better, and to realize the vision of enabling hundreds of millions of people around the world to truly benefit from the development of DeFi.” Huobi DeFi Labs is an incubator backed by Huobi to support the DeFi ecosystem.

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Binance Joins Blockchain for Europe

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Binance

Binance, the global blockchain company behind the world’s largest cryptocurrency exchange, today announced it is joining Blockchain for Europe, the European membership association representing international blockchain industry participants at the EU-level. Teana Baker-Taylor, U.K. Director at Binance has also been appointed to the Board of Blockchain for Europe, alongside Fetch.ai, Ripple, Block.one, and Blockseed Ventures. Together this group of industry experts and stakeholders collaborate to advocate for balanced policy and regulatory governance for blockchain in Europe and contribute to educating and supporting European policymakers as they evaluate the future potential opportunities for this new technology.

“As a global leader in the digital asset industry, Binance is committed to working with policy makers to educate and support the development of informed and effective governance models which promote the overall growth of the blockchain ecosystem,” said Baker-Taylor. “We’re delighted to join Blockchain For Europe to collaborate with some of the industry’s top companies to advocate for blockchain technology and tokenisation innovation in Europe.”

“At Blockchain for Europe we are very excited to welcome Binance, the world’s largest cryptocurrency exchange, to join our global team of blockchain industry leaders. Together we will continue to support European regulators and policy-makers in their efforts to unlock the potential of blockchain technology and to ensure Europe remains at the forefront of the technological innovations that will shape our future.” said Maria Minaricova, Chairwoman of the Board for Blockchain for Europe.

“Welcoming Binance to the Blockchain For Europe family is another great step in our mission highlighting the opportunities Blockchain technology offers to Europe. We are looking forward to incorporating the expertise and experience this global leader in blockchain brings to the table. In this process we remain committed to help ensure an innovation and business-friendly regulatory framework that fully fosters the benefits this new technology offers to European companies and citizens” said Robert Kopitsch, Blockchain for Europe Secretary General.

Blockchain for Europe and its members are currently focused on responding to the EU Action Plan on AML public consultation, the Digital Services Act (DSA) consultation on Smart Contracts, and contributing to ongoing discussions on the proposed EU Framework for Markets in Crypto-assets consultation conducted in December 2019.

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Huobi Group CEO Leon Li Shared His Vision for Blockchain Industry and Its Outlook

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Huobi Group

Huobi University shared an opinion piece made by Leon Li, CEO of Huobi Group in a keynote speech titled “Blockchain Industry and Its Outlook” at the opening session of Global Blockchain Leadership Programme. Speaking at a lecture held by Huobi University, Huobi founder Leon Li outlined the current blockchain industry and shared his outlook.

“We sit at an important juncture in the growth and evolution of blockchain technology. Much has been accomplished since Bitcoin was created some 11 years ago, but the advancement of the technology has really ramped up in the last few years.

Not only has blockchain been purporting its potential and outlining the possibilities, it has started reaching some of those goals and proving its value in our modern, digital world. The outlook for the next few years is filled with even more promise and potential, but it all goes back to the original thoughts in the Satoshi Nakamoto white paper on Bitcoin.

The path that Bitcoin and blockchain has tried to get here is just as important as its outlook as the world has changed dramatically in the last 10 years and Blockchain technology has been offering solutions that were not even that well-conceived of back then, but still well needed today. ”

‘The industry is growing’

“The topic I am sharing today is “Blockchain Industry and Its Outlook”. This industry has been growing for 11 years, in this 11-year process, I have been involved for 7 years, the previous 4 years I did not participate, and I was clueless to this industry like everyone else,” Explained Li.

Huobi was founded in 2013 by Li, an alumnus of Tsinghua University. He was a computer engineer at Oracle before founding Huobi and entering into the blockchain space. Li’s belief in the technology is predicated around the fact that it is revolutionary and has the potential to change the world.

“I will lead you to review the actual development of the industry, about how this industry was originated from a paper, a sole personal idea to a business that has profound global impact,” he added.

“Secondly, I will give you a thought, the future of this industry, and Huobi’s role in the future. We can’t jump over Bitcoin to talk about blockchain.”

‘A new system’

“In Satoshi Nakamoto’s paper, he talk about to create a system, a new financial system with following features:

“To create a system that doesn’t require intermediaries. Traditional financial institutions have created a lot of problems with revenue through constant credit expansion.”

“To create something with great freedom, say that money made in Japan cannot be spent in the U.S. directly. We should create a free financial world for the people who can truly own the asset they own.”

“2013 is an important year. A European country called Cyprus went into credit bankruptcy. Due to the bad credit, we have seen many countries experiencing credit crises. The fiat can be devalued by half over one night. Bitcoin at that time was seen as a supranational and super sovereign currency.”

“Bitcoin achieved global attention due to the Cyprus credit crisis. People seemed to reach consensus. As a direct result of this event at the beginning of the first half of 2013, Bitcoin was suddenly and all of a sudden expected to be a major player. Everyone believed that Bitcoin would become a global currency in the future.”

“At the beginning of 2013, everyone took the case of the country of Cyprus, because it was a very big event. A lot of media reported that a lot of Cypriot nationals had exchanged their fiat currency to Bitcoin, saying that it was both freely convertible and fair and reasonably safe. The media reported it every day, so the public started to understand it.”

“It has also attracted people from the financial world, people from the media, etc. Huobi went alive under this background. We launched Huobi in September 2013. There were also some technology-based explorations, using Bitcoin technology to virtualize email, which is to protect the information in your email.”

“The most powerful push of the industry is that people realize how profitable it is to invest in Bitcoin. It was on November 19, 2013, I could never forget, I was sitting in front of my laptop and realized that Bitcoin has gained 10 folds over one month. A lot of well-known and successful companies were established in 2013.

“In 2013, people anticipate that Bitcoin will become the future world currency. However, only 10% of merchants were willing to accept it, that is, to make payments directly in Bitcoin, the other 90% were not accepting it. The vast majority of those 10% of merchants have high margins and can tolerate volatility.”

“Bitcoin didn’t find its way out for payments. So where would Bitcoin lead the industry? At the beginning of 2014, when Bitcoin was only around $600 USD, countries around the world have come up with their regulation policy on Bitcoin, including ChinaUnited States, and Japan. Mt.Gox went bankrupt in 2014. At this point Bitcoin was under very great pressure, being challenged about asset security.”

“The global acceleration is now divided into several major categories, countries and regions like Hong KongSingaporeSouth KoreaJapanThailand, and in fact the United States, have recently proposed some regulatory frameworks.”

“As of now, it’s been two years since the countries around the world have made it official to consider crypto legislation. We’ve seen the crypto law proposals in Russia. Countries that are open to foreign exchange are more welcoming, countries that are regulated are less welcoming. Probably that’s the pattern.

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