Thai Banks to Launch Common Blockchain Platform

Blockchain will be used for guarantee letters issue
20 March 2018   487

14 banks from Thailand announced the establishment of the Thailand Blockchain Community Initiative, which will digitize warranty letters on a common blockchain platform. This is reported by Nikkei.

Leading banks of the country, including Bangkok Bank, Krung Thai Bank, Siam Commercial Bank and Kasikornbank, will join the initiative. As a technical basis for the project, it was decided to use Hyperledger Fabric from the Linux Foundation.

With this infrastructure sharing, banks do not need to invest on their own. Interoperability enhances efficiency, reduces costs in our financial sector and addresses the needs of the consumer and the business sector.
 

Veerathai Santiprabhob

Gov., Bank of Thailand

It is noted that the blockchain platform of the new organization was first launched by Kasikornbank in cooperation with IBM in July 2017.

In Thailand, the issuance of letters of guarantee that fix the payment obligations of customers, can take several days. Digitizing these documents and transferring them to a blockchain can reduce this time to as little as 30 minutes.

The participation in the project will also be accepted by the Electricity Generating Company of Thailand and Siam Cement Group. The testing of the new system will take place in a special "sandbox" of the Central Bank of the country.

SoftBank & Baidu to Invest in Atlas Protocol

Atlas Protocol was created by Nebulas Labs and xGoogler Blockchain Alliance
21 August 2018   130

The Atlas Protocol marketing module (ATP) has completed a round of attracting initial funding, led by SoftBank China Venture Capital (SBCVC), having collected several million dollars during it.

In a multimillion-dollar round, the exact amount of which was not disclosed, Baidu Ventures (BV), Danhua Capital and Fenbushi Digital also took part.

Atlas Protocol was created by Nebulas Labs and xGoogler Blockchain Alliance (xGBA). The "first developer" of Google Adwords, Jeremy Zhao and Columbia University Professor Ronggui Gu will serve as project advisors on technical issues.

Atlas Protocol plans to create a blockchain ecosystem and "to form a new paradigm of interactive marketing." According to the press release, ATP allows you to rank "calculated values ​​on the block and transfer value using tokens" using the ATP Smartdrop service application.

xGoogler Blockchain Alliance was formed in April this year as a community of former Google employees interested in blockchain technology. Its founders were the developers of projects Nebulas, Loopring and Gifto.