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Singapore and Korea to become Hub for blockchain tech and dApps riding on ASTON

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ASTON announced Singapore and Korea region as the hot hub for blockchain technology evolution as well as dApps development.

The formation of ‘Asia Blockchain Promotion Global Consortium’ was announced by ASTON, a Korean blockchain platform company, on Nov 1, indicating the arrival of the Singapore-Korea region as the hot hub for blockchain technology evolution as well as dApps development.

ASTON is a technology company and is working on its MainNet currently. Upon completion, it would form the backbone of the consortiums’ offerings. The inclusion of diverse companies shall allow the company to operate in multiple specialized niches.

 

Members of the Consortium

Apart from ASTON, the new collaborative effort will include – Bcoin based in Singapore, Bimax.io based in Korea. A new and important member, Singapore-based Neo Global Capital (NGC) would arrive on the platform with the completion of the launch of a crypto fund of ’30 billion KRW.’ Working with the consortium, NGC will also incubate and provide financial assistance to startups and other organizations looking for additional infrastructural help of aid to develop to the next level.

All development coming out of this platform will be mentored by a legal co-founding member, OhKims Law, and Company which will offer “One-stop service.” It will support the organization by providing the needed spectrum of consultation services, including listing on exchanges, offering investments and also encourage the adoption and creation of the blockchain system.

 

Operations

The consortium is expected to commence operations after its establishment is completed by the end of November in Singapore. It would be attracting new ideas for the growth of the blockchain industry and a business plan post the meet-up and the launch of the start-up contest to be launched by the organization at the earliest.

The idea of the consortium appears to be modeled around the latest insight being shared by industry experts from regional and international markets that – the future of the economic development and eventually transactional systems would include bitcoin, ethereum or litecoin, and its variant altcoins any time soon.

In the latest industry message, Andrew Wong, one of the top-level executives of the International Digital Currency Markets (IDCM) had indicated that use of cryptocurrencies would be a dominant factor.  But on the subject of mass adoption of this alternate system he added that for that to happen at a scale where there would be an impact, it would be several years away. The main issue with the use of these virtual assets thus far is the question of mass-use or scale, apart from the need to ensure higher standards of accessibility as well as the less complex use of this currency by the common user.  On the question of scaling the use of cryptocurrencies, the development of dApps on the ASTON platform is expected to change the ways of things to come in this sector.

However, the initiation by ASTON and its co-partners is a defining moment in the history of cryptocurrency development in the South East Asian region. It is one of the first official formations of multiple sector specialists who will work cooperatively to provide the necessary range of services for developing the cryptocurrency ecosystem in this parts of the world.

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Adoption: Courts in France adopt blockchain technology

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The NCC or National Council of Clerks of France have finally tested a blockchain technology-based solution for the courts of the country.

The NCC or National Council of Clerks of France recently made an announcement that they have finally tested a blockchain technology-based solution for the courts and are now prepared to launch it throughout France. The National Council of Clerks is a representation of the clerks of the corporate and commercial registry in around a hundred thirty-hour workplaces in France. The workplaces depend upon one another for sharing important data.

 

The goal of NCC France

The NCC is determined to streamline and position the latest information technology that capitulates something that is known as ‘the single version of the truth’. The data tracks an organization’s growth, dissolution, change of location etc. The sharing of data amongst each other was earlier a big challenge for the NCC.

 

The project based on blockchain technology had an aim of rapid cycle times and precision of information. In the pilot phase of the project, the National Council of Clerks in France was able to lessen the timing of registry operation involving a lot of days to just one day.

 

According to the president of France National Council of Clerks, Sophie Jonval, the project based on blockchain technology is an outcome of the partnership with IBM. IBM who is already an expert in blockchain technology and cryptography has been serving as a technological partner.

 

According to the NCC, the project shall be rolled out in the 1st half of 2019 and the project shall ensure a transparent and improved dynamics of the interactions between the clerks.

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HSBC Bank Looking to Expand Blockchain Platform Voltron in South Korea

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HSBC, the largest bank in Europe is searching for banks in South Korea for launching Voltron, it's blockchain platform as reported by the Korean Times.

HSBC, the largest bank in Europe is searching for banks in South Korea for launching Voltron, it’s blockchain platform as reported by the Korean Times.

 

HSBC Voltron:

The Voltron platform delivers a more quick method to process and settle invoices using by using permissioned blockchain technology. The permissioned blockchain stops the transactional data from being shared with everyone but instead, the data is shared with only consented users. The platform decreases the time that is usually required for the total process.

 

According to Joshua Kroeker, the innovation director of HSBC, the platform would mostly impact the process timing. Thus the transparency which comes with blockchain, as well as the rapid flow, would help the banks in managing their working capital as well as their cash flows. Kroeker reached out to the banks in South Korea to partner with their blockchain platform i.e. Voltron for the letters of credit.

 

HSBC’s blockchain platform was initiated in 2018 and is currently partnered with seven banks namely Standard Chartered, Bangkok Bank, BNP Paribas, ING, CTBC Holding, SEB, and NatWest. The platform is still in its pilot stage however, it shall soon be launched commercially.

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World’s biggest Blockchain ETF on London Stock Exchange

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The world's biggest blockchain ETF is scheduled to be launched by Invesco on the London Stock Exchange by Invesco, a large investment management company.

Cryptocurrency enthusiasts around the world have been curiously waiting for a bitcoin ETF to be approved by the SEC or any other potential government in the world. However, before a bitcoin ETF, the world’s biggest blockchain ETF is scheduled to be launched by Invesco on the London Stock Exchange. Invesco is a large investment management company that has more than $800 billion in assets under management.

 

World’s biggest Blockchain ETF

At the launch, the Blockchain ETF will invest in a portfolio of forty-eight companies including the CME Group, a US exchange which had earlier launched bitcoin futures on the exchange and Taiwan Semiconductor Manufacturing, a company that supplies crypto mining machines. Other companies are those that have an exposer to the blockchain technology.

 

The Blockchain ETF will be based on a proprietary scoring system made by Elwwod Asset Management LLP. According to Bin Ren, the chief executive officer at Elwood, the blockchain goes past cryptocurrencies. He mentioned that although blockchain technology is mostly being used by financial companies, it will be implemented in a vast range of industries soon.

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