Blockchain roundtable organized in Japan

Japan`s regulator, Financial Services Agency (FSA) has opened some details of the closed-doors roundtable
21 March 2018   1500

This meeting was arranged for regulators and central banks from many countries and it was connected with a wide multilateral joint research project on blockchain technology. The private conference was held on March 8 and 9, then FSA confirmed its report on Monday.

The financial regulators and central banks from a number of countries met Japanese and foreign academic institutions at the FSA-hosted roundtable. The representatives of the central banks of Singapore, Canada and Japan faced the financial regulators from the UK, France, Abu Dhabi, Hong Kong and the Australian security regulator. They discussed their points of view on the possibilities and disadvantages of the public (open) blockchain technology.

The FSA declared that the roundtable should definitely reveal the blockchain`s peculiar risks and opportunities. Also this financial regulator constantly researches possible weak spots of the public blockchain technology, relevant questions of its security and technical perspectives.

The list of subjects which were discussed at the roundtable includes the “Blockchain innovation and responsible user protection”, “Potential of blockchain”, “Blockchain tests and use cases - jurisdictional Proof of Concept” among others.

The FSA added that despite many details of the closed-door discussion stay under wraps, some common positions and challenges may be shared with the public while agreed upon by all the participants.

The banking market in Japan is aimed to be the largest consumer-end implementation of blockchain tech through a consumer payments application powered by Ripple. Therefore the largest central banks in the world were told cryptocurrencies “do not pose risks to global financial stability” during the ongoing G20 summit in Argentina by the international Financial Stability Board.

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   108

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.