Global Digital Assets News

Bitcoin is just one of the many ways in which blockchain is shaping the future. “For the first time in history, it’s possible to have digital data that is immutable and non-alterable, and this is a huge deal by itself… in the digital world, authenticity was impossible before blockchain,” explained blockchain strategic advisor and founder of Mantle Technology, Pascal Leblanc. This is in reference to the essential protocols that protect the integrity of a blockchain: each and every transaction and change to the chain is chronologically recorded as a block, which is authenticated in a decentralized and publicly-verifiable manner before it’s indelibly attached to the blockchain. With accountability and transparency written into its protocols, blockchain can potentially be used for any transaction in the world.

Digital Identity Authentication

Much like how Bitcoin and other cryptocurrencies are bypassing time-consuming banking authentication protocols to exchange currency over the blockchain, so can we in the near future leave similarly time-consuming (and comparatively less secure) identity authentication protocols in the past. Advent Tech notes how this is an increasingly valuable function today, when web users not only rely on several passwords and usernames to keep themselves secure, but are also constantly assailed by fears of increasingly complex cyber attacks. Through blockchain’s convenient and secure protocols, digital identity authentication becomes much easier, and individuals will have greater control over who has access to their information. Apart from easier banking and having truly secure digital access to web-based accounts, this aspect of blockchain means that it can also be used for maintaining health records, or even voting.

Smart Contracts

Blockchain-enabled “smart contracts” are being increasingly recognized as a driver in how blockchain will be used in a wide range of industries. A post on blockchain uses beyond Bitcoin by FXCM attributes this to how smart contracts can automatically execute contractual specifications and agreements based on any number of scenarios. This has already been proven effective in a number of scenarios, perhaps most famously through how musician Imogen Heap funded the release of her song Tiny Human via smart contracts, which ensured that anyone who had a hand in production was paid accordingly. In theory, the same can be done in any other industry, with contractual obligations like payments and transfers automatically occurring once certain conditions are met. Smart contracts could potentially turn the middlemen and other third parties in a number of significant industries obsolete.

Digital Accountability

As a quick and secure way to accurately trace information, activities, and even raw materials, blockchain could also pave the way for decreasing the huge amounts of waste in certain industries.

An Entrepreneur report reveals that fashion manufacturing alone results in 92 million tons of solid waste worth of unused fabrics —that’s on top of the water and chemicals needed to make clothes and accessories in the first place. By incorporating blockchain into this industry’s record-keeping, minimizing its annually wasted resources becomes possible. “There is exciting potential for blockchain technology to improve our ability to capture the economic value of resources along the supply chain,” explains Jahda Swanborough of the World Economic Forum. Apart from the fashion industry, blockchain can be used similarly in any other industry that needs to mitigate wastage, including but not limited to food, logistics, construction, energy, and electronic gadgets.

Despite the above examples we are still only at the beginning of what blockchain is capable of doing. In the next decade expect to see this technology become more widely used in all industries.

Article specially prepared for mlgblockchain.com

Prepared by: JBeebe

Global Digital Assets is excited to become the first North American Node of the Biki Exchange Gloabl Node Network

Headquartered in Singapore, BiKi.com is a global cryptocurrency exchange ranked Top 20 on CoinMarketCap. BiKi.com provides a digital assets platform for trading more than 150 cryptocurrencies and 220 trading pairs. Since its official opening in August 2018, BiKi.com is considered one of the fastest-growing cryptocurrency exchanges in the world with an accumulated 1.5 million registered users, 130,000 daily active users, over 2000 community partners and 200,000 community members in under a year.

BiKi.com has received investments from Du Jun personal, Genesis Capital Zhu Huaiyang, FBG Capital, ChainUP, totaling up to approximately 10 million USD. BiKi stands out as the exchange that offers a one stop solution besides the listing of a project’s token that will include: firstly, complimentary PR and marketing services. With news publications on the biggest Chinese crypto news media as well as spreading of information to 200,000 strong wechat users, BiKi helps projects create influence and brand awareness in the Chinese markets. Secondly, BiKi helps projects with community growth and managements via engaging influencers with tens of thousands to millions of followers who are active crypto traders, to serve as project’s local community ambassadors to grow community.

CEO of BiKi Southeast Asia, Ethan Ng said, “As we make our mark across the globe, attracting BiKi Partner Nodes in Romania, Singapore, and now Toronto, we hope to expand our network and resources to grow BiKi’s industry circle, making it richer and more diverse.”

This is a significant partnership for Global Digital Assets to provide more onramps for digital assets the firm is taking to market, introduce digital assets to a wide audience of crypto enthusiasts around the world stronger access in the East Asian markets. In addition, the BiKi Partner Nodes Program provides priority project listings, incentives as well as being handed a pipeline to BiKi’s wide industry circle and resources.

Michael Gord, CEO of GDA, said, “Being a BiKi Partner Node provides our clients access to a world class digital asset exchange that is more invested into the offering than the majority of other large exchanges. It adds additional value to the launch process by helping the team scale and expand in Asia. We appreciate how BiKi is positioning themselves in the market and we are excited to work with the BiKi team to expand their node network across Western markets to provide digital assets access to more global markets.”

Zachary Friedman, COO of GDA, said, “Working with Biki through their Partner Node Program brings immense value to us and our clients. We are very aligned with BiKi’s vision and support their efforts in Western markets to offer new exciting services to our clients.”

Global Digital Assets is a vertically integrated firm that launches digital assets and takes them through the entire offering process from seed to liquidity. Its assortment of clients include token projects and founders, exchanges and miners, family offices and accredited investors, enterprise and government organizations. It is a joint venture between MLG Blockchain, a leading blockchain advisory firm, and Secure Digital Markets, a market maker firm. MLG has advised on over USD 200 Million in raises through digital asset offerings and private placements with accredited investors and deployed multiple million-dollar marketing and activation campaigns on behalf of clients. For the last 18 months, Secure Digital Markets has been scaled to over USD 1 Billion in deal flow YTD.