Bermuda to Improve Land Registry via Blockchain

The Bermuda Government is planning to transfer its property deed system to blockchain
26 January 2018   1350

Bermuda Premier David Burt said at the World Economic Forum in Davos that the country is aiming to make the government more efficient switching its property deed system to blockchain.

Bermuda has an old school, deeds-based property system. What we are going to do is transfer our registry to the blockchain. Clearly, it needs to be transparent, so people know what’s there and secure, and that way we know who owns what at any point in time.

 

David Burt

The Premier of Bermuda

Burt also talked about the country’s “progressive” ambitions in the blockchain space. He said Bermuda is known for high-standard regulation, anti-money laundering, know-your-customer (KYC), and compliance.

The idea to migrate its property deeds system to the blockchain has been aired in the past month in Bermuda. Last month, Stan Stalnaker, founding director of Bermudian-headquartered Hub Culture, said digital assets such as property title deeds, marriage certificates, vehicle registration documents, and ownership contracts will end up on blockchain.

In November 2017 we have reported that the government of Bermuda founded a blockchain task group to promote cryptocurrency commerce in the British overseas territory. The task force is part of the government’s initiative to advance the island’s regulatory environment as destination for cryptocurrencies and initial coin offerings (ICO).

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   91

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.