Standard Chartered holds first RMB

Standard Chartered holds first RMB L / C on Contour blockchain

Standard Chartered Bank completed its first international RMB L / C transaction through Contour, a blockchain trade finance platform.

Standard Chartered said this week that a letter of credit transaction between Australian mining giant Rio Tinto and Chinese steelmaker Baosteel was done through blockchain trade finance platform Contour.

Letter of Credit is an official letter from the bank that guarantees the buyer's payment to the seller within a specified period of time. If for any reason the transaction failed, the letter obliges the bank to fully cover the purchase amount. Contour is a blockchain trading platform created on the basis of Corda R3 technology and designed to optimize the settlement of transactions. Previously, Contour was called Voltron.

This is the second time Baosteel has used Contour, having previously signed a similar L / C deal for over $ 14.1 million with BHP. In addition, Vietnamese HDBank joined last week

to the Contour network to optimize the issuance of letters of credit using blockchain and smart contracts.

“The potential costs of trade finance are enormous,” said Contour CEO Carl Wegner. “Trillions of dollars in goods, products and services are traded daily, but the trade finance sector is still slow and costly.”

OmiseGO Reacted With Growth To Coinbase Announcement

American cryptocurrency exchange Coinbase this Thursday announced the listing of the OmiseGO (OMG) token.

Starting May 18, users will be able to transfer OMG to their exchange accounts. The next day, a phased opening of trading will begin, provided that sufficient liquidity is accumulated. OMG will be presented for trading in two pairs: Bitcoin and USD. Also on May 19, additional markets for the euro and the British pound may open.

The token will initially be available to Coinbase Pro customers in all supported jurisdictions with the exception of New York State. Going forward, it could also be added to the Coinbase.com retail portal and mobile app.

OMG is a token on the Ethereum blockchain used in the OmiseGo smart contract platform for the operation of various financial and investment services.

In 2017, OmiseGo airdropped their tokens to ETH holders. Coinbase users with at least 0.1 ETH in their accounts on July 7, 2017 will receive their OMG tokens as an airdrop.

The OMG rate reacted to this news with 10% growth. It is currently the 54th largest asset in the market with a capitalization of $ 114 million.

This January, OmiseGo announced the closure of its GO.Exchange crypto exchange amid a tightening global regulatory environment.

Ripple co-founder Jed McCaleb has sold $ 175 million of XRP since early 2016

Ripple co-founder Jed McCaleb has sold over $ 175 million worth of XRP since the beginning of 2016, according to a study by The Block.

During this time, McCulleb sold 819 million XRP. He received 9 billion XRP as a co-founder of OpenCoin (renamed Ripple).

In the first quarter of 2020, it sold $ 26 million worth of XRP, the largest in the last five quarters. The largest number of XRP sold was recorded in the 4th quarter of 2018 for more than $ 36 million.

By comparison, in the first quarter of 2020, Ripple sold just $ 1.75 million in XRP and $ 13.08 million in the fourth quarter of 2019.

Vitalik Buterin clarified his statement regarding the timing of the launch of Ethereum 2.0

Ethereum co-founder Vitalik Buterin recently announced that Ethereum 2.0 will be rolled out "in the third quarter." However, other developers have speculated that the update could be delayed until 2021.

Vitalik Buterin said at the Consensus: Distributed conference earlier this week that Ethereum 2.0 will launch in July, confirming earlier statements by Ethereum 2.0 lead developer Justin Drake about plans to roll out phase 0 by July 30.

When asked whether the update would be rolled out in July, Buterin replied that this is likely to happen. After that, Ethereum 2.0 Test Coordinator Afri Schoedon tweeted: "The final specification has not been implemented in any client and we have not yet launched a coordinated testnet."

“It is not very correct to announce specific dates at conferences. I don't think Vitalik said about July. But I haven't seen the performance, ”he added.

In response to this Buterin wrote: “Yes, I did not say July. Perhaps the question contained the word July, but I did not hear it. " Then he made a second entry: "Okay, I definitely should have heard 'July' in the question, it was my fault."

Shoedon coordinates the recently launched Schlesi multi-client testnet - one of many test network versions that will precede the launch of Ethereum 2.0. He previously stated that the launch of phase 0 could take place in 2021. Buterin commented on his statement on the rollout of the update:

“I listened to the interview again. The question did contain the word "July", but I apparently did not hear it, so this is my fault. I am sorry for that. My real opinion is that Ethereum 2.0 is "on the right track" as there are no major obstacles to deployment, test networks are emerging, etc. But I listen to the client developers about the launch dates, and if they talk about a possible deployment in the third quarter, I believe them. "