Distributed Credit Chain DCC

$0.0020
Market Cap $ 3.576 MM (#440)
24h Volume $ 1.002 MM
Chg. 24h: -27.72%
Algo. score 3.7/5  (#115)
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Distributed Credit Chain News

Bithumb Adds Nexo (NEXO) and Distributed Credit Chain (DCC) to the Bithumb DEX

The Bithumb cryptocurrency exchange, based out of South Korea, recently posted the following announcement on their Twitter feed about the most recent additions to its decentralized exchange: “NEXO and DCC are available at Bithumb DEX now! Visit Bithumb DEX website and trade newly listed cryptocurrencies #Bithumb #NEXO #DCC https://www.bithumb.io/.” The Bithumb DEX is a separate arm of the Bithumb exchange where users can trade available cryptocurrencies without the need to verify their identity and regardless of their geographic location. (JF)

19 days ago

With the CBAC, East Meets West in Search of Adoption and Innovation

The noise that surrounds economic relations between the United States and China is amping up exponentially. You can thank the latest trade wars for that, as fresh tensions boil over between the two nations who are currently trading new tariffs on imports, with no shortage of ill will underpinning the moves.But the Chinese government’s ire is not just outward-facing. As a country where ICOs are currently not allowed, exchanges have had their bank accounts frozen, and internet and mobile access to cryptocurrency trading information has been banned, China is taking an equally hard line on a wide range of crypto-centric activities within its own borders. All this despite a stark dichotomy, wherein over 50 percent of the worldwide mining population resided within its borders in 2017, and cryptocurrency adoption is outpacing most other countries. While trade war bullets may be flying thick and fast between these two mega-economies, the key to a better Chinese blockchain sector just may be unlocked by deploying cooperative forces in the United States, as seen by the recent launch of a New York City office for the China Blockchain Application Center (CBAC). The CBAC NY was founded with the hope of paving the way for rapid blockchain adoption in China, in part by picking up regulatory best practices from the United States, all while fostering blockchain and crypto collaboration between the two nations.An early-stage, non-governmental organization (NGO) established in 2015, the CBAC collaborates with regulatory bodies to develop comprehensive regulations, encourage the application of blockchain technology in traditional industries, and connect Chinese practitioners with peers around the world. By helping to develop increased regulations, blockchain industry applications and international connections, members of the CBAC are hoping to elevate blockchain’s role in China’s $12 trillion economy. Crypto Challenges in ChinaOne of the speakers at a well-attended August launch party in NYC’s financial district was Stewie Zhu, founder and CEO of the distributed banking public blockchain Distributed Credit Chain (DCC), and a standing committee member of the CBAC. While ICO scams and other bad actors have significantly hindered progress in his home country, Zhu sees plenty of near-term potential for crypto and blockchain technology there. “While China has prohibited the sale of new cryptocurrencies through ICOs since early last September, there is still a big appetite for the application of blockchain technology,” Zhu told Bitcoin Magazine. “In fact, a [recent] Chinese Supreme Court ruling has stated that blockchain technology can be used to authenticate evidence in legal contexts. The trading of cryptocurrencies is possible, but the government is trying to create financial stability to minimize any illegal activity. The Chinese government is eager to make considerable strides on the technology front, and while stringent, they are trying to ensure that cryptocurrency trading is done responsibly.“There are challenges behind blockchain technology as it relates to banking,” Zhu continued, “because it requires a reconstruction of long-standing relationships in the current market, as well as time for citizens to understand the mechanisms behind using blockchain. Companies may need to make significant changes to their daily operations to incorporate blockchain, not to mention the time and resources needed for pre-application research.”Zhu pointed out that it also takes time for private citizens to fully understand and trust cryptocurrency. Between price swings and security vulnerabilities, they may be leery of entering the market, he believes.“Given the volatility in the crypto market and the negative news about problematic ICOs, individual customers can be cautious of tokens,” he said. “Security is also an issue. Blockchain technology is not perfect. We still need more R&D to develop ways to prevent potential threats such as the 51% attack, where an organization controlling the majority of network mining power can prevent transactions by others and allow its own coin to be spent twice (double spending). So long as these threats exist, many companies may not see blockchain as a practical tool.” Part of a Bigger PictureA successful push by the Chinese government to instill crypto confidence goes beyond better banking and protecting consumers, however. “The Chinese government is trying to shift the economy from manufacturing-based to a more value-added, services-based, to move from being the factory of the world to being the service provider of the world, which is a natural economic evolution that you would expect from any country as they try to level-up,” Zennon Kapron observed in an interview with Bitcoin Magazine. Kapron is the founder of Kapronasia, a Singapore-based firm focused on providing insights into Asia's financial industry. “China has always tried to stay ahead and it’s used technology as a way of leveraging that with t

a month ago


News courtesy of berminal.com
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