Thai Banks to Launch Common Blockchain Platform

Blockchain will be used for guarantee letters issue
20 March 2018   546

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.

Binance DEX to Launch Trading

Mithril is the first asset, that is trading on new platform; also, the exchange presented the listing rules for assets
25 April 2019   83

Binance DEX announced the start of trading in the Mithril token (MITH) together with Binance Coin (BNB). This is the first asset in the listing site.

At the same time, the exchange presented the listing rules for assets. So, anyone can release a token on the Binance Chain, but listing it to the marketplace takes place in several stages.

First of all, the issuer must place a listing application on the Binance Chain community forum, providing answers to a number of questions relating to the innovativeness of the project, its scope and other characteristics.

After that, the issuer must make a deposit in the amount of 1,000 BNB within two days, which will be returned later. Note that the listing of an asset on Binance DEX must be approved by at least half of the validators.