New travels, new developments, new successes!
After a series of successful negotiations in the countries of Asia and Africa, as well as with the development of new technologies and commercial successes, the Bitrent team is ready to share with you our achievements over the past week, to announce the goals for the future and to introduce the latest changes in the world of blockchain technologies.
Bitrent goes to Africa
The current week was saturated with business negotiations with leading blockchain companies of Nigeria. After a series of successful preliminary negotiations between representatives of Bitrent, Paxful Inc. and Kure coin hub. have joined the rank of potential partners.
Tomorrow there will be an online meeting with VP Head Africa at IMCI Group Emmanuel Musa Samdi, with further presentation of our project.
There is very little time left before traveling to Africa, a large amount of information material is being prepared for meetings, presentations and further training of BitRent representatives on the African continent.
New construction quality technologies
To update the security technologies and transparent control over the quality of construction, we are introducing a new bundle of RFID tags with a private block hyperlink. All major units of the project will be equipped with marks that will signal the quality of the work performed. To do this, the tags will be scanned by a special device. This scanner is equipped with an android-based smartphone, which has built-in software developed by Bitrent for reading data from tags and transferring this information to the hyper-ledger blockchain system. The data is transmitted over the mobile network. We have already developed our own blockchain, which in the first stage will consist of at least 3 nodes. It is in this network that information about the labels will be stored, which cannot be changed or deleted. The information from this distributed database will be further used by the admin software that analyzes this data and on the basis of smart contracts issues a response about a positive or negative decision to unlock the funds. The human factor is excluded as much as possible. An escrow will be connected to this software, from which account funds will be unblocked for the continuation of the construction.
Now the development of this functionality is reaching the final stage, and by the end of August, we will already conduct the first testing cycles.
Global network of financial innovations
The most interesting news in the field of legal regulation, were announced by the Office of Financial Regulation and Supervision (FCA) of Great Britain. Together with 11 other regulators from Hong Kong, the United States, Australia and Abu Dhabi, it was announced the creation of a global network for the advancement of financial innovations of the Global Financial Innovation Network (GFIN).
GFIN will be used as a network in which regulators will be able to discuss policy on financial technologies for the development of the so-called “global sandbox”, which will provide companies with “an environment for testing cross-border solutions.”
The Bitrent team monitors this project, considering the prospect of joining it.
Read more below: https://www.fca.org.uk/publications/consultation-papers/global-financial-innovation-network
The most significant decision for the market of crypto currency, was made by the US SEC to extend the decision period regarding bitcoin-ETF VanEck and SolidX until September 30. However, according to rumors, the adoption of this decision may be postponed until the spring of 2019. In the case of approval of the creation of bitcoin-ETF, the industry will have the opportunity to attract institutional investors and significantly increase the capitalization of key crypto-currencies. To date, the Crypto currency market is morbidly reacting to the SEC’s indecisiveness in this matter. And the opinions of experts, as always, are divided.
Note SEC is available at https://www.sec.gov/rules/sro/cboebzx/2018/34-83792.pdf