Blockbid Exchange to collaborate with LexisNexis Firm

Australia’s Blockbid crypto trading firm has reached a successes again in blockchain being the first exchange to partner with a traditional risk management firm
17 June 2018   840

The exchange is aimed on conducting more effective Know-your-customer (KYC) and Anti Money Laundering (AML) operations. With the new alliance, Blockbid will process its operations using the ThreatMetrix 1.4 billion reliable identity database with that of LexisNexis.

While the Cryptospace is yet to receive the full backing of authorities totally, the burgeoning digital assets ecosystem is making progress towards going mainstream in the near future and big whales in the industry have been taking significant stages to make the high-grade services present in the traditional finance industry, acceptable to bitcoin-based businesses. 

This deal is a great example of trying to bring the type of bank-grade capabilities to the cryptocurrency world that we’ve offered in banks around the world for decades.
Thomas Brown
Senior Vice President, LexisNexis

LexisNexis acquired ThreatMetrix for $817 million in January, in order to continue its activity in the risk and business analytics sphere.

ThreatMetrix is widely recognized as a leader in the digital identity space. Bringing that together with our own strengths in physical identity attributes will give our clients across all forms of commerce and geographies a more reliable, comprehensive approach to fraud and identity risk management while maintaining the privacy and security principles our customers have come to expect.
Mark Kelsey
Risk & Business Analytics CEO, LexisNexis

The Blockbid partnership with LexisNexis will be extremely profitable for the exchange as all its KYC/AML concerns will be taken care of because the Melbourne-based exchange will also have access to a huge number of data pools with which it would identify and legitimize the clients` information.

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   122

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.