Ex-Deloitte Chief to costruct “Ethereum of Supply Chain”

Eric Piscini has left the firm presently boasting 1,200 employees and beginning with just 3. Now, he has decided to choose a different road
21 May 2018   1419

Piscini was frequently approached and tempted by Deloitte’s customers to join their companies and bring his blockchain expertise on a full-time basis to their table. Finally, the in-demand blockchain executive opted U.S.-based Citizens Reserve, which is aimed to join 2 blockchains, Ethereum and JPMorgan Chase’s Quorum, in order to build a worldwide supply chain network.

Early-stage launch of Citizen Reserve suggests a common database platform and allows each level of a supply chain to be available for users. A cryptocurrency based on the ERC20 Ethereum token standard, named “Zerv,” will be issued to all users in order to access the blockchain, and to simplify seamless cross-border and internal transactions. Zerv will also be supported by real-world assets. 

The private blockchain is more for supply chain transactions, and the public blockchain is used for payments. There is a bridge that we created that is kind of our secret sauce. We don’t give away equity in the company. That’s not where the value is going to be created. The value is going to be created at the token level, not at the equity level of the company. We have decided to start with the defense industry because we have relationships with key participants in the defense industry, and it’s a very broken supply chain across the globe. 
Eric Piscini
Ex-Executive, Deloitte

Piscini intends to restrict the involvement of speculators while keeping the token lucrative. However, it is, a struggle to detach these tokens from being termed as “securities,” as the company would invest 85 percent of the funds raised into unspecified assets. Piscini supposes that this investment will fix the price of the token and, finally, help with his original aim of dissuading speculators.

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   158

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.