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In the last decade, decentralized platforms have taken the data world by storm. Top programmers aspire to create more efficient and effective platforms than ever, making the market for these products one of the most competitive in the world. Meet the five APAC entrepreneurs disrupting their industry, transforming the future of decentralized platforms and navigating their way towards digital transformation.
Simon Kim, Founder and CEO of Hashed
The mind behind Hashed, Simon Kim is a serial South Korean entrepreneur, blockchain thought leader, and evangelist. Previously, he served as the CPO of Knowre, an adaptive mathematics learning platform. Today, Kim balances his distinguished roles of venture partner at Softbank Ventures Asia, member of the 4th Revolution Committee of South Korea’s Parliament, and Director of the Korea Blockchain Association. He also participates in the Busan Blockchain Free Zone
New York, October 6, 2020 (INSIDER MONKEY WIRE)– Fintech is becoming a fast-growing industry in the world today. The term is an amalgamation of the words “Finance” and “Technology” and it is associated with any business that uses technology to enhance or automate financial services and processes. As an industry, Fintech is becoming increasingly beneficial to both businesses and consumers.
In recent years, blockchain have enabled major strides in the financial technology (fintech) industry. Blockchain offers faster, cheaper transactions which are more secure and have permanent records. Blockchain also has the potential to dramatically reshape the capital markets industry with a significant impact on business models, reductions in risk and savings of cost and capital.
While AI technologies are helping financial institutions to save billions in costs incurred in service costs and also have streamlined the data analysis process. Blockchain is lowering the cost of transactions while allowing for a
Crypto exchange Binance has unveiled a new “decentralized” stablecoin system called Venus.
The system is built on the Binance Smart Chain and will mint the decentralized stablecoin called VAI, backed by a basket of various BEP-20 tokens (BEP-20 is Binance’s token standard). The Venus protocol can be seen as a mixture of MakerDAO and Compound, said Binance CEO Changpeng “CZ” Zhao.
“VAI is minted by the same collateral that is supplied to the protocol. Users can borrow up to 50% of the remaining collateral value they have on the protocol from their vTokens to mint VAI,” said Binance. “The collateral provided to Venus will be represented by vTokens (such as vBTC) which will enable users to redeem the underlying collateral as well as to borrow against it.”
Using the Venus protocol, users will also be able to stake their Binance coin (BNB), Binance stablecoin (BUSD), and Swipe (SXP) tokens into