Digital Money Hosting Alliance White Paper

Entering 2019, with the strong rebound of Bitcoin and the entry of traditional Internet giants, digital currency ushered in a new round of bull market. Due to the high investment amount and strict regulatory framework, institutional investors in traditional financial markets have higher requirements for the security and flexibility of digital currency storage and transfer , and the existing exchanges and wallets are “self-hosted”. Digital currency storage solutions have been unable to meet the needs of large institutional investors.

Therefore, digital money custodians similar to third-party custodians in the traditional industry have emerged, and more than 50 digital money custodians have been born in the past year. However, due to the lack of regulatory framework and high compliance costs, digital money custodians in the market have not yet reached the expected level of credibility; and the occurrence of money-losing incidents has added to the doubts about the security of digital currency storage technology.

Based on the above market conditions, digital pass rating agency TokenInsight and Hong Kong listed company BC Group combined their respective advantages in the industry, jointly launched a voluntary participation in the autonomous organization digital currency custody alliance. The alliance aims to integrate the resources of the digital money escrow industry and increase the credibility of digital money custodians in the market, thereby increasing the influence of alliance members in the market.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Opinion

LianGuairadigm proposes ten potential trends, and intent-centric ranks first. What is intent-centric?

LianGuairadigm's article introduces the ten potential trends currently being closely watched in the crypto field, wit...

Finance

The difficult times for NFT: Multiple projects shut down, lending platforms face chain liquidation and bad debts amidst the general market downturn.

Multiple NFT projects have been closing down one after another, lending platforms are facing bad debt risks, and the ...

Market

Reflection on the fundamental reasons for the current stagnation of the NFT market

In this article, we will first present the specific performance of the recent bear market in the NFT market through d...

Blockchain

Will NOVA be the next Pepe? Analysis from the perspective of trading techniques.

"Ten years of speculation in cryptocurrency can all be in vain, but a successful gamble on meme can make you live in ...