Huobi to Launch Public #Blockchain, South African Central Bank Claims Successful Blockchain-based Payment Trial and #Binance Invests in #Esports Platform

Crypto Corner - June 6, 2018

Huobi to Launch Public Blockchain, South African Central Bank Claims Successful Blockchain-based Payment Trial and Binance Invests in Esports Platform

Crypto exchange Huobi, has today announced the launch of its Huobi Chain Project (HCP). To kickstart the project, the company has created the Huobi Chain Superhero Champion Project (HCSCP), which "will incentivize the community to participate in building the Huobi public chain from the ground up." Huobi has devoted 30 million Huobi Tokens (HT), or about $160 million USD, as an initial investment for the project.

"We firmly believe in a decentralized future, and the main goal of the Huobi Chain project is to transform a centralized corporation to a decentralized one that's run by the community," said Leon Li, founder, and CEO of Huobi Group. "Our dream is for Huobi to run on the public blockchain and become a truly decentralized autonomous organization."

The South African Reserve Bank (SARB) has published the results of its proof-of-concept trial of distributed ledger technology (DLT) based wholesale payment system, Project Khokha. The statement indicated that in the trial, average daily payment processing time was brought down to under two hours with "full confidentiality".

"The results show that the typical daily volume of the South African payments system could be processed in less than two hours with full confidentiality of transactions and settlement finality. Transactions were processed within two seconds, across a network of geographically distributed nodes, with distributed consensus providing the requisite resilience. The SARB was able to view the detail of all the transactions to allow for regulatory oversight."

Binance, the world's largest crypto exchange, is investing in Malta-based chiliZ, "a platform that allows both esports and sports entities to tokenize their voting rights to their fan bases," according to a press release yesterday. The statement indicates that both companies will collaborate to "develop a fan-driven token ecosystem for traditional sports teams".

Alexandre Dreyfus, CEO of chiliZ, said: "Binance's significant investment in chiliZ will boost our current private placement offering and help us to move faster. Their support will help us deliver our vision globally, increase our visibility in the blockchain ecosystem and empower our technical vision. I'm also excited that Binance is setting-up in Malta, where we will be able to share resources, enabling a more strategic partnership."

Sam Mowers, Investorideas

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