SBI Holdings is interested in blockchain

Japanese company is plannig to build a  "new financial ecosystem based on cryptocurrencies"
27 October 2017   1437

SBI Holdings, the financial services division of the Japanese SBI Group, announced its intention to go deeper into the world of blockchain and build a "new financial ecosystem based on cryptocurrencies". This is stated in the company's new financial report and reported by the CoinDesk.

These steps also include collaborative research with partners in order to collect "systematic knowledge" about blocking technologies.

In order to "solve problems" on cryptomarket, SBI Holdings plans not only to buy and mine cryptocurrencies directly, but also to find ways to use them, including creating investment opportunities. Future cases of using crypto currency include money transfers, trade financing and payments.

The SBI Group will endeavor to acquire cryptocurrencies, for the further development of products and services, and to secure market liquidity. This includes the mining of [bitcoin and bitcoin cash], and investments into U.S. Ripple (Ratio of 10.5%).
 

SBI statement

SBI Holdings also confirmed its intention to create a large platform for the exchange and trading of crypto-currencies, the plans for the opening of which was announced as early as 2016.

Old Korean Social Network to Close After Tokensale

Cyworld platform started operating back in 1999 and it conducted an IEO at CoinZest this year
14 October 2019   49

Investors who acquired the clink cryptocurrency issued by the South Korean social network Cyworld are worried about the status of their investments due to the company's sudden closure, reports Korea Times. Some of them are ready to go to court.

The Cyworld platform was launched in 1999 and was especially popular among the country's population until the mid-2000s. The company, however, failed to see the trend towards the development of mobile solutions on time and as a result lost its position in the market. On October 1, it closed her platform without posting any warnings to users.

At the same time, the Clink site was unavailable, and Cyworld management continues to ignore the numerous requests of investors. The Korean exchanges CoinZest and BitSonic, where Clink is still being traded, are considering delisting the asset. Industry officials say Clink's investor losses will be at least 1 billion won ($ 845,000).

Clink's primary distribution was through IEO through the CoinZest platform earlier this year and, according to the Korea Times, it was the company's attempt to bring a fading social network back to life. A total of 24 million Clink tokens were sold for a total of 480 million won ($ 400,000).

In the second half of 2019, employees who have not received salaries since the end of 2018 began to leave the company en masse. Since the start of trading, the Clink price has fallen from 26 won to 0.19 won. According to the Coingecko portal, Clink's current capitalization and revolving volume are unknown, while the marginal issue volume is 10 billion units.