Hong Kong Won't Issue Own Crypto

Senior official said that HKMA had studied the topic and concluded that such a currency would prove less useful to Hong Kong than to some other jurisdictions
31 May 2018   844

The Hong Kong Monetary Authority (HKMA) does not plan to issue a state digital currency, a senior official from the department said.

During a meeting with legislators, Joseph Chan, acting secretary for financial services and treasury, said that HKMA had studied the topic and concluded that such a currency would prove less useful to Hong Kong than to some other jurisdictions in the world.

The HKMA has carried out research on CBDC (central bank digital currency). At the same time, the HKMA notes that the benefits of CBDC and its efficiency gains will depend on the actual circumstances of a jurisdiction. In the context of Hong Kong, the already efficient payment infrastructure and services make CBDC a less attractive proposition. The HKMA has no plan to issue CBDC at this stage but will continue to monitor the international development.

Joseph Chan

Acting Secretary,  Financial Services and the Treasury

Last April, HKMA reported for the first time that it was "studying and creating evidence of the concept of a digital currency issued by the central bank." At the same time, the agency announced that it would complete the first stage of the project before the end of 2017 and, based on its result, decide on further actions.

The last statement of Chan was a response to the request of legislator Dennis Kwok, sent on May 18. According to the published document, Kwok wanted to know whether the government was going to issue its own digital currency in order to keep Hong Kong's competitiveness in the field of financial innovation.

EOS to Buy $30M Worth Domain For Its Social Network

Earlier, CEO reported that his company will spent about $150M to develop Voice, and looks like "voice.com" purchase for $30M is one of the first steps
19 June 2019   109

The Block.One company, known for developing the EOS blockchain protocol, acquired a domain for its new social network Voice for $ 30 million. This is evidenced by documents published on the website of the US Securities and Exchange Commission (SEC).

Documents were provided by MicroStrategy, an analytical and mobile software provider. It follows the “voice.com” domain, registered in the GoDaddy domain name registry, was transferred to the EOS developer on May 30, 2019. After 2 days, Block.One officially announced preparations for the launch of a social network.

Block.one has made a smart strategic decision in choosing Voice.com to be the internet domain name for its new social media platform. The word ‘voice’ is simple and universally understood. It’s also ubiquitous — as a search term, it returns billions of results on the internet. An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation.

Marge Breya 

Senior Executive Vice President and Chief Marketing Officer, MicroStrategy Incorporated. 

The commercial model of MicroStrategy is based, among other things, on the accumulation and sale of such expensive domain names.

According to Block.One, the identification of users and the use of the EOS blockchain in the social network will help to avoid the massive influx of bots, which often affect other members of this niche. Earlier, CEO Block.One Brendan Blamer reported that his company spent about $ 150 million to develop Voice.