Continued Advancements of Blockchain Technology Revitalizing Cryptocurrency Opportunities - Seite 2

Other recent developments in the tech industry include:

Ideanomics Inc. (NASDAQ:SSC) recently announced it has entered into a joint venture agreement with TPJ Ltd, to create Ideanomics Resources LTD a U.K. company based in London. The 75% Ideanomics owned joint venture has been created to unlock value in the commodities and energy sectors by leveraging and utilizing the Ideanomics Platform-as-a-Service (PaaS) solutions, a suite of strong multi-layer fintech technologies leveraging blockchain and artificial intelligence. Ideanomics Resources will initially focus its efforts in Africa and Middle East where it has significant long-term relationships. "We will use blockchain technology to improve transparency and eliminate corruption in Africa's commodity markets. Digitizing asset production and distribution could help the continent to lead just as it has with mobile money worldwide," Dr Bruno Wu, co-CEO and Chairman of Ideanomics, told entrepreneurs and investors at an event hosted at Africa House collective in New York, during the United Nations General Assembly week in September 2018.

Xunlei Limited (NASDAQ:XNET) recently announced a strategic partnerhsip agreement with People Capital to promote blockchain innovation and empower the real economy with blockchain applications. Under the partnership, People Capital and Xunlei will establish a technology innovation laboratory as part of People Capital's Blockchain Research Institute. Both entities will work together to explore blockchain as a foundational technology across various business scenarios. Furthermore, a high-level industrial service platform will be built up to organize offline activities, such as workshops, industry seminars and application competitions, in order to facilitate information sharing, promote innovation and identify potential start-up companies in the blockchain sector.

Overstock.com Inc. (NASDAQ:OSTK) developments: The company's blockchain accelerator, Medici Ventures, recently announced that portfolio company Bitsy.com will allow public access to the beta version of its exchange and wallet service beginning Monday, November 12, 2018. Bitsy's new app-based platform creates a remarkably easy, secure, and user-friendly bridge between bitcoin and the US Dollar. During Bitsy's beta testing phase, users can download the Bitsy app from the App Store or Google Play free of charge to securely buy, transfer, or hold bitcoins. Bitsy gives users complete control of their funds and allows for the transfer of assets directly between individuals. The app also includes an innovative and secure account recovery system to assist users in the event they lose their funds. "The great promise of the Bitcoin white paper was to have legitimate peer-to-peer exchange of value without the need for trusted intermediaries. Few people understand, however, that with conventional Bitcoin wallets, users do not have actual possession or control of the Bitcoins they buy: their wallet-provider owns the Bitcoin and provides a contractual claim to the consumer, who must then trust that corporation. This defeats the whole purpose of crypto. Bitsy wallets, on the other hand, allow users to possess and have complete control of their cryptocurrency without the risk of lost keys. This sets a new standard for digital wallets," said Patrick M. Byrne, Overstock.com CEO and founder. "We are excited to continue our cryptocurrency journey and integrate Bitsy's technology with Overstock.com to offer bitcoin for sale directly from the retail site in the first half of 2019."