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   1793

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.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   56

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.