Chinese Universities to Launch DAO

According to the idea of ​​the creators, the project will become the opposite of the American Ivy League and is designed to make education more affordable
29 May 2018   614

A group of leading Chinese universities are planning to create a decentralized autonomous organization (DAO) in order to make educational resources more accessible. This is reported by Coindesk.

The initiative called the Youth Education Chain League (YEC League) will be attended by the Beijing and Zhejiang universities, as well as the Tsinghua University. Educational institutions and research institutes will act as nodes in the DAO.

According to the idea of ​​the creators, the project will become the opposite of the American Ivy League, in which educational resources are for the most part only accessible to the elite.

Ultimately, participants will be able to vote for future developments and applications on the platform, while students will have access to educational resources from different institutions located on the common blockchain.

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.