Indonesian Jakarta Futures Exchange (JFX) is using Kinesis tech to form a regulated blockchain exchange in collaboration with the Allocated Bullion Exchange (ABX) and Kinesis Money. At the same time, the giant U.S. manufacturer of household cleaning supplies, SC Johnson is forming an alliance with Plastic Bank, and environmental organization to support recycling of plastic across the country.
It looks as if the country is venturing into all possible fields with blockchain applications. JFX is the futures and derivatives exchange group of Indonesia. Recently it released a joint statement along with ABX and Kinesis about developing an evolutionary monetary system that uses real assets including gold and silver to form the basis of virtual currencies.
The alliance will transact these currencies on the Stellar Network’s Kinesis Blockchain Exchange. Incidentally, Stellar Network has the capacity to conduct 3,000 and more transactions per second. The companies are integrating this system in mobile banking and on the exchange services supporting fiat currency.
Although JFX is using Kinesis Tech for the first time, it has been working with the leading electronic institutional exchange for physical precious metals of the world, ABX for expanding the Indonesian gold investment opportunities since long. Apart from the joint venture, JFX is also planning to launch a spot physical Sharia Gold Contract with ABX, reported The Star Online. The Indonesian regulators, as well as the Indonesian National Shariah Board, recently gave a nod to this partnership.
The joint venture between SC Johnson and Plastic Bank will offer digital tokens to the participants in return for collecting waste. The scientific data unveiled by SC Johnson says that the plastic waste leaking in the ocean in China, Indonesia, Vietnam, Thailand, and the Philippines accounts for 55 percent of overall plastic waste, reported Chepicap.
Just as JFX is planning to use Kinesis Tech for developing a regulated blockchain exchange, in the same way, SC Johnson is trying to develop a way to eliminate plastic waste from the ocean by opening eight plastic waste collection centers in Indonesia with help from Plastic Bank. As per reports, the collaboration will open the plastic waste centers by May 2019.
The post From Using Kinesis Tech To Resolving Plastic Waste Issues, Indonesia Exploiting Blockchain At Its Best appeared first on OWLT Market.
from OWLT Market https://ift.tt/2B7xMgp
via IFTTThttps://13.232.231.26
No comments:
Post a Comment