How æternity is shaping a sustainable global economy
æternity was appointed to the RATA (Research and Technical Advisory) of the ‘Belt & Road Blockchain Consortium’. The Consortium emerged from research done in 2013 on ‘bridging the infrastructure gap’ initiative in Asian regions. One of the primary conclusions of the report was that billions of US dollars will be necessary for the construction of new infrastructure able to connect and coordinate economic efforts between Eurasia and China.
The Belt and Road initiative is composed of two primary branches:
- SREB – Silk Road Economic Belt (continental trade routes)
- MSR – Maritime Silk Road (maritime trade routes).
It encompasses six corridors spanning Asia, as well as parts of the Pacific, North Africa and Europe.
The Blockchain Consortium, founded to support the B&R Initiative, is based in Hong Kong and has vested interest in scalable smart contracts and governance features of the æternity blockchain.
The æternity team will provide expert technological advice on scalability of blockchain and smart contracts specifically, as well as research approaches on how to incorporate PSD2 compliance and creating an inherently ‘halal’ blockchain, that could include Islamic networks into the space.
We currently know that fiat currencies (fractional reserve) are considered ‘haram’, hence building settling systems with cryptocurrencies (eradicating fractional reserve) could pave the way to connecting billions of currently unbanked individuals in Asia, Africa and the Middle East.
On 12th September in 2017 the ‘Belt and Road Blockchain Consortium’ will be formally unveiled at the Hong Kong Cyberport Smart Space FinTech.
We are anxiously looking forward to start the collaborative work and implementing the solutions with the goal of creating a more sustainable global economy.
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