What Makes 55 Global Markets Cooler Than Coinbase IN DEED? – Press Release
The ability to provide ‘safety’ is essential to the survival of blockchain and cryptocurrency companies in today’s market.
2017 saw the emergence of the blockchain industry, but it was a year full of trials for digital currency trading platforms. From ‘empty coins’ to regulatory controversies, the industry faced challenges on many fronts, but perhaps the most significant challenge was security breaches. The cryptocurrecy exchange platform Binance was hacked multiple times, while Japan’s Coincheck suffered a loss of 400 million U.S. dollars. Other exchanges including Zaif were dealt massive financial blows due to cyber-attacks.
With this in mind, 55 Global markets has prioritized security, not only account and user transaction security, but also the security of the platform itself.
1. Cooperation with Mercurity, (the world’s top base-infrastructure designer) to ensure tokenized assets’ safety and reliability
The decentralization feature of blockchain technology is a security mechanism, but for trading platforms it is not enough. Companies also need to individually-developed platform architecture, independent technology to ensure users security and controllable digital asset trading services.
55 Global Markets is a digital trading platform with public chain technology developed by Mercurity. 55 Global Markets and Mercurity jointly provide asset tokenization services, including the rapid tokenization of asset rights (dividends, membership rights, stocks, forex, bonds, etc.) In addition, Mercurity has built an infrastructure for the physical world that includes anti-money laundering AML networks, cash flow account networks, and trust networks. 55 Global Markets has also developed cross-chain technology to achieve the aggregation of tokens on different chains.
2. Multi-signature dual account mechanism ensures user information security
The network is working hard to protect users’ personal transaction information. With inhouse, high-speed, cross-chain mapping technology, assets can leave the wallet and while doing so, use multi-signature technology to ensure that no one else can obtain a user’s private key. 55 Global Markets independently-developed technologies ensure smoothness and security in peer-to-peer transactions.
3. Open and transparent asset information ensures asset security for user accounts
When it comes to openness and transparency, it is important for an ordinary investor to be able to control and understand the movement of personal assets. In order to achieve this, the first step is full information disclosure. This is by no means an easy task. Currently, there are very few exchanges on the market that can do this. In addition to real-time tokenized asset information disclosure, 55 Global Markets, in cooperation and Mercurity, have anchored assets to asset tokenization (entrusted to globally licensed third-party trust institutions for management). This ensures asset security and avoids loss/depreciation of anchored assets caused by the issuer, which would in turn affect the interests of assets’ holders (55 Global Markets’ investors).
4. A new generation of issuance and supervision mechanism eliminates rotten projects and protects the user’s “wallet” security as much as possible
55 Global Markets has designed a set of issuing and monitoring mechanisms called SICO (Supervised Initial Coin Offering). SICO is the main model of a new generation of ICO’s. Its primary function is to realize real-time disclosure of project information through active and passive disclosure of information, combined with corresponding data models. Inferior items such as “empty coins” and “speculation coins” can be largely eliminated using SICO.
5. The platform can continue to operate to ensure users assets’ security
A guiding principle of 55 Global Markets is dedication to legal compliance. The nature of blockchain technology and its token structure allows built-in compliance check at the code level. During the token issuance process, 55 Global Markets will help issuers to implement compliance rules directly into the token, e.g. a specific type of token cannot be traded in certain jurisdiction areas. Based on 55 Global Markets’ comprehensive KYC/AML and other customer review processes, rules implemented at the code level can assist parties in performing cross-border transactions. Buyers and sellers are automatically screened for compliance in a streamlined process, this is done at the code level.
Apart from code level compliance, 55 Global Markets established a legal team dedicated to compliance of token exchange under different legal jurisdictions. 55 Global Markets is actively applying for various asset trading licenses in different regions around the world. As for certain legal jurisdictions, such as the United States, 55 Global Markets has established sub-market US.55.COM which is specifically tailored to its special compliance and licensing requirements.
Blockchain and digital currency have been hit by the bear market, but even in this challenging environment, blockchain technology holds promise. 55 Global Markets has zeroed-in on safety since it launched, but disrupting the market- as 55 Global Markets is primed to do- is no small task. However, by staying focused on what’s important and adhering to the founding principals of blockchain, 55 Global Markets could change the game, surpassing industry giants like BTC.
The key to a stable exchange platform is to constantly work towards safety, and maintain safety as an ultimate goal. Continuously improving safety and working towards it is of more value to long term survival and stability than simply being labeled as the safest.
55 Global Markets’ products and services described herein are not available in all jurisdictions and is subject to change from time to time. 55 Global Markets is committed to legal compliance and certain 55 Global Markets products and services described herein may not be available in your jurisdiction. 55 Global Markets reserves the right to change and update its products and services from time to time in each jurisdiction to comply with applicable law and regulations in its sole discretion.
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