#CryptoCorner; Huobi Expanding to #Brazil, Monster Products Eyes $300 Million #ICO and Hong Kong Rules Out CBDC For Now
#CryptoCorner; Huobi Expanding to #Brazil, Monster Products Eyes $300
Million #ICO and Hong Kong Rules Out CBDC For Now
Point Roberts, WA, Delta BC – May 31, 2018 - Investorideas.com, a leader in crypto and
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Read this in full at http://www.investorideas.com/news/2018/crypto-corner/05311HuobiMonsterHongKong.asp
Huobi Expanding to Brazil, Monster Products Eyes $300 Million ICO and
Hong Kong Rules Out CBDC For Now
Huobi, the world’s third largest cryptocurrency
exchange, is expanding to Brazil according to local outlet Portal do Bitcoin. The piece says that Huobi representatives “were seen distributing”
business cards during VI Bitconf, a crypto conference in São Paulo. The piece
also claims that Huobi is scouting Brazilian talent via LinkedIn.
“Via Linkedin, the company is also selecting
Brazilian talent. Two vacancies are open: the Chief Compliance Officer, whose
main function is to monitor the operations carried out, aiming to identify
deficiencies and irregularities in the processes of exchange, trading, systems
and registration, thus preventing money laundering in these operations with
possible fraud irregularities . The other is for Digital Marketing Manager,
whose function is to develop the brand in Brazil and create a strategy for its
growth.”
Monster Products, the company responsible for Beats
headphones, are planning to hold a $300 million USD ICO, according to an SEC filing dated May 25. The proceeds from the sale of Monster Money Tokens (MMNY)
tokens will go to the creation of an Ethereum-based e-commerce platform called
the Monster Money Network.
The Company intends to develop Monster Money Network in three stages as set forth below:
● Stage I: establish Monster Money Network to
provide the basic transactional functions, such as Monster Money Wallets and
processing transactions in MMNY Tokens;
● Stage II: establish a private off-chain
platform where micro-transactions can be completed without or with very limited
transaction costs caused by mining activities (“gas”).
● Stage III: complete Monster’s blockchain and
integrate such blockchain to the operating systems of the Company, such as
marketing, accounting and auditing, payroll services, inventory control and
shipping management.
Hong Kong has no current plans to issue a Central
Bank Digital Currency (CBDC), according to a government press release yesterday. Joseph Chan, the Acting Secretary for Financial Services and
the Treasury, did not rule out CBDCs in the future but cited Hong Kong’s robust
existing payment infrastructure as reason not to currently pursue it.
“The HKMA has
carried out research on CBDC. At the same time, the HKMA notes that the
benefits of CBDC and its efficiency gains will depend on the actual
circumstances of a jurisdiction. In the context of Hong Kong, the already
efficient payment infrastructure and services make CBDC a less attractive
proposition. The HKMA has no plan to issue CBDC at this stage but will continue
to monitor the international development.”
Sam Mowers, Investorideas.com
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