VeChain Joins Forces with Chinese Real Estate Company

VeChain cryptocurrency is aquiring more new partnerships, and recently reported about the agreement with Beijing Baisheng Technology Co to assist its subsidiary Fanghuwang to improve financial services
19 January 2018   1123

VeChain has announced new partnership agreement with Beijing Baisheng Technology Co., Ltd to assist one of its branches Fanghuwang, a growing online lending platform in China in order to solve major problems within the real estate industry.

Fanghuwang company is providing property mortgage loans, collateral backed lending to small and medium enterprises and the owners of them in China, utilizes cloud computing and big data analysis technology in order to control risks connected with the industry.

VeChain and Fanghuwang plan to:

  • Enhance the client data collection system
  • Enhance data quality
  • Enhance data storage security
  • Enhance data shareability
  • Reduce costs

Previously, we have reported that VeChain announced partnership with Hubei Sanxin Cultural Media Ltd. to manage digital publication industry using VeChain Thor blockchain technologies, and that VeChain and Jiangsu PE Co. joined forces to develop IoT equipment.

VeChain Charts January 2018VeChain Charts

Currently the price of VeChain is rising, having increased 14% during past 24 hours, and VeChain grew from $4,58 to $5,86, while the market capitalization jumped from $1,2 to $1,6 during only one day.

At the moment of press, these are main market parameters of VeChain:

  • Average price: $5,86 
  • Marketcap: $1 623 150 302
  • 24h volume: $200 322 000

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   83

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.