The International Digital Asset Exchange Council, IDAXC, was formally launched at the recently concluded “Blockchain Central” event in Davos.
Blockchain Central is a Blockchain-themed summit established by the Global Blockchain Business Council, GBBC.org, in Davos, Switzerland. IDAXC has been charged with supervising the emerging asset-backed crypto industry that is signaling a paradigm shift away from for unanchored digital assets to quantifiable ones.
Dubbed “Blockchain 3.0”, the crypto industry is now actively moving away from non-asset-backed cryptocurrencies to physically quantifiable ones in order to address the biggest challenge facing the industry: volatility. Created as a non-profit organization, IDAXC will use its mandate to promote mainstream adoption and tokenization standards, institute the best regulatory practices for the industry, and increase awareness of blockchain technology and adoption. IDAXC will enable owners of real world assets to seamlessly tokenize their asset and offer it to the market. These assets will be fully compliant with all regional regulations, including AML and KYC standards.
“The growth of ordinary crypto currencies is admittedly huge, with a combined market cap of $500Bn (Coinmarketcap) in an industry that simply wasn’t there just a few years ago. However, when you take the power of cryptocurrencies built on the decentralised Blockchain, and underpin them with trusted Real Asset Digitization delivered via shared standards set by a worldwide community of members, the potential is just so much larger” says Eric Van der Kleij, Council Chairman.
IDAXC founders have identified 2018 as the beginning of the crypto market maturity as the sector moves toward stable assets. The council is chaired by renowned UK FinTech luminary Eric Van der Kleij, previously CEO of the UK. government’s Tech City initiative and creator of London’s premiere FinTech hub, Level39.
“Today we are sharing the aims and ambitions of IDAXC, and also seeking feedback from a small group of interested parties representing startups, banks, academia, and some of the most experienced people active in the emerging field of Real-Asset Digitization” continues Eric Van der Kleij.
Eric is no stranger to FinTech initiatives, also serving as one of the initiators behind the creation of the U.K. Fintech trade body Innovate Finance. Eric’s company, Centre for Digital Revolution ( C4DR.com), actively champions Fintech and Blockchain innovations in the U.K. and Switzerland. The company will be constituted as a founding member of IDAXC, alongside a number of vested parties, including China’s ACChain, and Hong Kong based Courage Investment Group Ltd. (HK1145) and Ink Blockchain Co. Ltd. IDAXC has also announced the appointment of the former Director of Innovation at RBS, David White. David is the founder of Fintech solution companies import.io and Kusiri (now sold to PwC).
“We believe this final stage of the Blockchain revolution -- coins anchored by real assets -- will finally trigger established financial services players and regulators to support and even participate in the cryptocurrency markets.”
IDAXC is an international, non-profit, and decentralized body established to institute best practice and policies for the digitalization of real world assets and the exchange of their tokens.
IDAXC collaborate with all market participants for the creation of voluntary standards in the ecosystem. These standards will reflect the organization’s commitment and dedication towards the implementation of best-standard practices for issuing, exchanging, and trading real-asset backed tokens.
IDAXC members are provided with training facilities spanning a wide range of crypto-related disciplines including KYC integration and procedure, AML policies, asset tokenization and smart contracts deployment, and token-issuing.
IDAXC will institute key partnership with financial service agencies, regulators, and the global community for the promotion and adoption of a global, best-practice standard that will propel digital assets and asset-backed tokens into mainstream economy.
Courage Investment Group Ltd.(HK01145) is a Hong Kong based company listed on the exchange main board. Courage focuses the backing up of real assets on the blockchain, cryptocurrency management, and capital operation.
Ink Blockchain is a Fintech and Blockchain technology service pioneer headquartered in Hong Kong.
C4DR is an international ‘digital foundry and insight’ Centre that has set about harnessing key technological breakthroughs of the modern industrial revolution. C4DR aims to use these breakthroughs as disruptive forces of good in the global socio-economic market.
ACCoin, the root coin of the ACChain Digital Asset Conversion Smart Ecosystem, is rapidly earning a reputation as the Swiss Army Knife of alt-coins. It is, simultaneously, the "spark" or trigger coin granting access to the ACChain Digiverse; and it constitutes one of the three legs (along with Bitcoin and Ether) of the "digital basket of currencies" forming the supranational A-SDR.
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