BOX, the startup focusing on the institutional investment non-custodial crypto wallet has reportedly announced the new ‘BOX Ecosystem model’. The company made the announcement of the new model at the Shanghai Film Plaza during the launch event which was held on 30TH November 2018. The institutional wallet provider during the event with a full house attendance surprised the audience with the new BOX Ecosystem Model that was mainly powered by WalletMate, BoxVault, and Bolaxy.
With the launch of a new version of the BOX Business Wallet, “BoxVault” Damo Shang the founder of BOX kicked off the event. During the event, Shang unveiled some of the amazing and upgraded features of the wallet such as multi-address management, approvals, batch transfers and an open API for multi-chain usage.
All important names in finance and tech were the part of the event such as ‘Zhiqiang Li’ Director of Product Planning at Intel Security PRC, ‘Yeeli Zheng’ China Chief Representative for Nasdaq and ‘Yao Liu’ Director of Blockchain Product at Baidu Cloud.
The new BOX Ecosystem Model will offer a system that will enable supply chain finance participants to perform all those complex transactions that were earlier not possible in blockchain system due to scalability and limitations in transaction throughput. Bolaxy has combined the main chain ledger, its “Union” and its child chain all by using a novel multi-chain blockchain system. With this, the company has managed to combine both security and speed under one platform. All this is also possible because of the Dual-consensus algorithm which the blockchain operating system uses is based on “Proof-of-Authority” that features high security, and transparency.
Yeeli Zheng, the China Chief Representative for Nasdaq during her talk on the “Blockchain Revolution in Financial Markets” mentioned that “The financial supply chain is a trillion-dollar market, and the blockchain solution represented by the BOX ecosystem will solve the pain point of high financing costs for SMEs”.
Zhiqiang Li, the director of Product Planning at Intel Security PRC when asked about the same mentioned that “With BOX as our partner, Intel will be able to provide our customers with the scalability and throughput required for their high-frequency and complex scenarios.”
Yao Liu, the director of Blockchain Product at Baidu Cloud shared his thoughts after the collaboration and mentioned that “Baidu Cloud, BOX, and Intel will cooperate to contribute to blockchain commercial expansion, especially in the field of enterprise security.”
At the end of the event, BOX CEO Damo wrapped up all the names of the strategic partners on stage. He later opens the virtual ship bay doors to reveal Bolaxy. Focusing on the new partnerships, Damo concluded the event by saying “After this official launch of Bolaxy, we will cooperate with others and promote a wide range of blockchain applications”.
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