QURAS blockchain specializing in privacy protection finally launched the main network

TOKYO, JAPAN – Media OutReach – 21 December 2020 – QURAS, a public blockchain project that can protect privacy, officially launched the main network on December 19, 2020. 3 years after the project started, the blockchain rooted in practical use finally started running.

The QURAS project is focused on protecting the privacy of users on the public blockchain. Public blockchain refers to blockchain that is open on the Internet, and Bitcoin and Ethereum are well known as typical ones.

Generally, it is said the merit of blockchain is high transparency. This means anyone can check transaction information in a public environment. This is one of the obstacles to promoting the social implementation of blockchain.

Transactions exist in the world are generally conducted with confidentiality. However, if the blockchain is transparent, there is a risk that your transaction will be identified by a third party. From a practical point of view, it is sufficient if those transactions can be confirmed between the parties.

Therefore, QURAS blockchain provides multiple privacy technologies. Service providers will be able to choose those technologies and optimize the confidentiality of their services. The QURAS blockchain will start from the point where the confidentiality of transactions of digital assets called “tokens” can be secured at the beginning, and the scope will be expanded in a later update day by day.

With the operation of the QURAS main network, companies and developers who want to adopt blockchain are expected to be able to expand the range of application of blockchain to fields that could not be handled by public blockchain until today. Another feature of the QURAS blockchain is that it may contribute to the finances of developers through a mechanism in which fees are returned to service providers when transactions become active.

Details of the QURAS blockchain can be found on the official website below. The documents for blockchain developers are also available on the site.

In addition, the QURAS Coin (XQC) currently in circulation is scheduled to be swapped from the ERC-20 Token standard to the native Token standard. The swap will be announced in the near future.


Mauritius: The bid for wealthy South Africans

Reports suggest many wealthy South Africans are opting for the island life in Mauritius.

The Island Republic, they say, is emerging not only as a hub for international capital, but an attractive lifestyle destination.

The investors are attracted to financial and tax security turning it into a country where people can live comfortably, reports Business Tech.

The Business portal quotes Vidish Jugurnauth, a director at Sovereign Trust (Mauritius) Limited.

Many rich South Africans are fleeing the country where Nelson Mandela was born.

They fear they are the target of racial profiling in a country where a White government in the past imposed ‘Apartheid’ on non-white population.

BLOCKCHAIN

Experts say the progressive investment environments in Mauritius means setting up a business is quick and easy.

Besides, there is already a sizeable community of South African expats says Van Der Merwe.

Nevertheless, Mauritius is trying to keep up with global trends offering fintech and blockchain development potentials.

South Africans have a long history of investment in Mauritius which is nearby their country.

They are also among the leading foreign purchasers of residential property in Mauritius.

SOBRINO

But while Mauritius’ financial services sector has grown rapidly in the past 20 years, it was recently hit by the Panama Papers.

There is also the Sobrino scandal. This may have long-lasting repercussions on the image of the country, on the rating of its institutions, on the soundness of our financial services sector and on the integrity of governance. 

The Sobrino scandal involves the Angolan billionaire banker, Alvaro Sobrinho whose investment in Mauritius raised questions.

The banker is also the founder of the Planet Earth Institute the activities of which in Mauritius became the cause of the downfall of the country’s President.

Ameenah Gurib-Fakim resigned as President of the country in March last year.

She quit after claims emerged of her shopping spree on jewellery and clothes costing thousands of dollars in Dubai and Washington DC.

She resigned over claims she used a credit card provided to her by the PEI for personal expenses.


Blockchain could be among Singapore’s new growth drivers: Euler Hermes

 

Singapore’s GDP growth to moderate to +2.9%, economic growth to slow on lower exports but strong economic diversification and innovation efforts to keep growth in a decent range.

Mahamoud Islam, Senior Economist for Asia at Euler Hermes: “There are three types of countries in the region: The Accelerators, the Stabilizers, and the Connectors. Stabilizers and Connectors will need to focus on reducing leverage to keep growth at a healthy pace. Accelerators have some financial leeway, but reforms must follow.” 

Singapore forms part of the countries that plays the role of connectors, and this group of countries are looking for new drivers of growth, said Euler Hermes in a report published today.

Singapore is one of the connector nations that would benefit from Blockchain technology.

The report said Blockchain technology can accelerate trade by cutting through paper-intensive documentation. while reducing trade finance cost.

“Trade techs could offer a new engine of growth at the crossroads between finance and trade,” said the report.

It said Singapore, South Korea, Hong Kong, Taiwan. Australia and New Zealand were the connectors in Asia.

“They have smaller and more open economies that are expected to grow at a firm pace (2% to 3%) benefiting from solid exports growth.

“They are prone to adapt policies would focus on averting financing risks stemming from high private debt and monetary tightening in advanced economies,” it said.

Euler Hermes listed three advantages for the ‘connectors’:

1. Access to financing. Provide access to financing and reduce the financing gap (USD1.5tn p.a.) to SMEs in emerging market economies (China. India).  Cross-border trade finance transactions (payments e.g.) can be executed automatically via smart contracts.

2. Efficiency and Security. Digitalization of traditional trade and shipping documents can increase efficiency and security at borders (approval process).

3. Less regulatory risk. Reduction in regulatory and compliance cost for banks. Lower fraud losses for transactions that are registered on a block chain.

Singapore also has the advantage in the World Bank Doing Business Indicators, where it is ranked second overall below New Zealand. 

The Connectors said Ludovic Subran, Chief Economist at Euler Hermes, are expected to grow at a firm pace of +2% to +3% on the back of solid export growth.

Policies are likely to focus on averting financing risks stemming from high private debt and monetary tightening in advanced economies.

“The economies have to work on their edge and invest in trade tech that is to say the new technologies to serve trade such as block chain.” Subran suggested. 

Subran also said 2018 will be a good year for Asian businesses with an expected +4.8% GDP growth for the region. Yet trade easiness, reforms momentum, and financing conditions will be the three big-ticket items the private sector should keep in mind for 2018 and 2019.