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Sunday, November 5, 2017

Blockchain News: Banking Meets Blockchain

Banking Meets Blockchain

Many experts agree on the huge impact that Blockchain technology will have on fintech in the coming years. And yet, technical and regulatory issues have hindered the potential of Blockchain and cryptocurrencies to grow past the early-adopter phase and hit the mainstream.

Monaize, an e-banking platform for freelancers and small businesses and Komodo, a top 30 cryptocurrency project met at Money 20/20 in June 2017 and forged a partnership. Their joint vision is to bridge banking Blockchain and help cryptocurrencies achieve mainstream adoption.  

The first innovation to come out of the Monaize-Komodo partnership will be a decentralized Initial Coin Offering (dICO) via cross chain atomic coin swap by leveraging Komodo Platform’s Jumblr and BarterDEX technology. It is possible to issue and distribute native cryptocurrencies without a trusted third party. ?The Monaize dICO is also set to push the Blockchain community into an era in which ICOs no longer have to depend on platforms like Ethereum or Waves, reducing problems such as Blockchain bloat and mitigating the damage that would be suffered by hundreds of ICO projects if one of these large parent chains were comprised.

The Monaize asset chain was created in late September with tokens holding the ticker symbol “MNZ.” On Friday Nov. 10 at 12 p.m. (GMT), token sale participants will begin swapping either Bitcoin or Komodo Coin for Monaize Tokens. These coin exchanges will occur across Blockchains through atomic swaps with automatic order matching, using a special dICO wallet developed by Komodo Platform. Monaize will be releasing additional information and a tutorial on the dICO process in the coming days.

Full story at

Source: CoinTelegraph

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