Energy Company to Perform Blockchain Rebranding

Company had already lost more than $1 million of its cryptocurrency investments
22 August 2018   665

The energy company Global Energy Resources International Group, despite millions of dollars losses on crypto-currency investments, announced plans for rebranding, within which its new name will indicate a link with the blockchain industry. This is reported by CoinDesk.

The application for the change of name has already been submitted to the Hong Kong Stock Exchange, where its shares are traded. The Chinese company name will be changed to Global Token Limited.

The application states that the company has launched crypto-currency trading platforms in Hong Kong in recent months, and has also made several investments in crypto-currencies and technologies based on the blockchain.

According to Global Energy Resources International Group, the total volume of its investment in crypto-currency assets at the end of June was $ 2.4 million. Due to the fall of the market, the company lost almost 50% ($ 1.02 million). At the moment, among the company's crypto-currency assets are 2 135 ETH and more than 20 million XPA tokens.

Global Energy Resources International Group is headed by Chinese billionaire Chen Ping.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   54

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.