Asia Blockchain Updates 2019.11.18
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Tron, Binance, Chinese WEIBO accounts are blocked
Half of the HPB team have gone, HPB is a scam?
KB Bank, will be the first, issuing Stable Coin in Korea?
Tron, Binance ‘s Weibo Accounts are Blocked, due to the Crypto Investigation in China.
According to the Coinreaders, Official Weibo (Chinese version of Twitter) accounts of Tron, the 11th largest market capitalization based on CoinMarketCap, and Binance, China’s largest cryptocurrency exchange have been blocked by Weibo.
Users who want to access the Weibo accounts of both companies found out both accounts have been blocked since Nov 16th. A message stating that the account has been filed for infringement of the ‘Weibo Community Regulations (微博 社区 公约)’.
Binance PR official said in an interview with China’s largest blockchain media company, Bishijie, “It seems that there was a malicious scam report towards to our account.”
In addition, Justin Sun, CEO of Tron, also said right after the incident, “We are actively communicating with Weibo. We also support the legal development of blockchain in China as well.”
HPB CEO Sheds a Light on a “Scam Suspicion” about the project.
One of the major Chinese projects, Hyper Performance Blockchain (HPB), has been falling into the trap of suspicion and doubt about the project from its community.
HPB founder Xiaoming Wang said in an official Telegram community chatroom that “the funds of the Foundation is enough to run a business for at least 18 months,” and “more than 70 cooperative partners still support us.”
He also added and explained the situation, “The company’s engineering teams and key architects are all developing full-time, We will be announcing the HPB 2.0 roadmap soon.”
On Nov 10th, Danny Roshandel, general manager of global business development uploaded one announcement that says, “For the past several months, I realized that my vision for HPB development did not match the organization’s strategy, the use of funds and the way it behaved.” “Recently, the internal decision was made without my consent, and I didn’t have any prior notice.”
Also, It was reported that other Co-Founders and Half of the full-timers also have got out the team.
HPB is a project designed to replace the other public blockchains. The company focused on providing a scalable solution by developing a combination of hardware and software architectures. The project was recognized by the community to be called China’s EOS, but an internal problem arose.
Major Top Korean Bank, KB bank will develop Stable Coin for the first time in Korea.
One of the top major banks in Korea, KB Kookmin Bank held a large conference in Seoul Ethereum Meetup last October and announced that it is interested in digital asset trust and stable coin. That was the first time that a Korean financial company unveiled a great interest in a concept related to cryptocurrency.
Huh-In, president of the bank, said, “We are looking at (blockchain) as one of the core technologies of the entire enterprise and are pursuing the long-term digital transformation.” Huh-In also met with Vitalik Buterin, who developed the Ethereum, in September to discuss the incorporation of blockchain into finance.
KB Kookmin Bank seems to want to introduce cryptocurrency and blockchain tech for the first time in Korea actively.
According to the interview with Coindesk Korea on Nov 17, President of IT Department of KB Bank, Lee Woo-Yeol mentioned that KB is planning several blockchain-related projects such as STO Issuance, Custody, and compliance projects (KYC/AML). As the Korea Government agency has not confirmed the blockchain, crypto regulations, so these projects are going to be present at the initial stage. He also added that The certain department is planning to issue KB IT Coin as a stable coin internally and run over the trial version.
For the past several months, more and more traditional financial institutions in Korea are planning to introduce the blockchain technology in their existing system. JP Morgan and Wells Fargo are also testing or developing Stablecoin, while Fidelity Investments provides cryptocurrency consignment services through its subsidiaries.