Blockchain Platform ‘Monachain' started by LG Branch

The IT subsidiary of electronics giant LG has run its own blockchain platform that could be used in a number of sectors including manufacturing and finance
14 May 2018   424

Korea Times reported that named ‘Monachain’ by LG CNS, the enterprise blockchain platform will concentrate its usability on cryptocurrency, digital authentication, digital supply chain management. Monachain allows its customers to make their own digital currency wallets, a position that can see local governments issue local currency and welfare payments to end users on a blockchain LG CNS said. Also, the LG group arm displayed it is working relatively a communication of banking infrastructure with commercial banks that let them to run and distribute digital currency via blockchain platform.

Even further, Monachain can help business owners boost productivity as the company provides a digital supply chain management system that enables suppliers to manage the entire production processing efficiently.
LG CNS

A decentralized identifier is used by Monachain in order to let measurable digital identity wherein users in the blockchain will be able to self-verify their identification information with the help of a smartphone before making a payment or remittance.

LG CNS first reported about the details of its first enterprise blockchain in middle of 2017. The platform is established on Corda, a permission distributed ledger software developed by global banking blockchain consortium led by New York-based industry company R3.

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   140

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.
 

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.
 

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.