SBI Holdings, Inc. announced the establishment of its chip mining arm, the SBI Mining Chip Co., Ltd or SBIMC. With this development, the Tokyo-based firm will foray into the manufacturing of mining chips, a strategic move to enhance its existing digital asset business.
The official notice issued by the financial giant stated that the SBI Group practiced its digital asset mining business overseas, and now planned to diversify its potential business scope.
SBI group partnered with a US-based semiconductor firm to roll out the new manufacturing unit. The group, which is a strong advocate of a wide range of businesses based on blockchain elucidated,
“The SBI Group will promote efficient, reliable and sustainable mining operations to develop a sound and solid cryptocurrency market.”
SBIMC will be led by Adam Traidman, who was an investor in the company and also served at NASA previously. Among his many accomplishments, Traiman formerly served as the CEO in Chip Estimate and WearSens.
SBIMC will be leading chip manufacturer, Nvidia’s latest competitor. The Taiwan-based firm sustained losses during the crypto-winter, but it recovered after the recent acquisition of Mellanox, a semiconductor player. The Bitcoin mining giant, Nvidia, had predicted a bullish crypto market was confident of clearing its stockpiled mining equipment. The chipmaker was also reported as the worst performer in the S&P 500 list, at the end of 2018.
Another big rival in the mining ecosystem is Bitmain. The Beijing-based mining giant has also been operating poorly after registering a loss amounting to $500 million, owing to the massive crashes in cryptocurrency prices.
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goLance seeks Ripple’s help to integrate faster, efficient payment solutions
Michael Brooks, Co-founder and CEO of goLance, recently shared the news that goLance was taking Ripple’s help to integrate its payment gateways and facilitate easier and faster cross-border payments for users across the world.
Brooks broke the news during the 2019 American Business Awards ceremony, going on to thank Ripple after winning 3 Stevie awards.
Paralect, an IT services company also partnered with goLance, congratulated goLance on the same and stated,
“We’re beyond happy to congratulate our partners and friends at goLance on their 2019 Stevie Awards. Our team has worked with goLance since 2014 and continues to refine the product that is attracting more and more freelance talent around the world… Most recently, we’ve developed a solution to add the Ripple Network to the long list of goLance payment integrations. This will allow fast and secure cross-border payment solutions via digital asset.”
goLance is a platform/marketplace where one can hire freelancers on an hourly basis or on fixed bid projects. Paralect helps small and medium-sized industries/companies launch products that drive innovation.
Ripple has the most skin in the game, especially when it comes to the cross-border payments sector. Ripple has a plethora of partners already making use of Ripple’s proprietary blockchain payment solutions, as well as digital asset-based solutions that are helping companies around the world send payments in a better, faster, and a more secure way.
Ripple’s xRapid solution is completely based on the digital asset XRP, which provides liquidity to facilitate cross-border payments. Other solutions such as xCurrent and xVia make use of blockchain technology to deliver faster payments.
A Reddit user, @Furitlicious, commented,
“1 of many to come. Can’t wait for them to throw out the “Runs on Ripple” slogan”
Another Reddit user, @Daleeburg, commented,
“Is there anything stopping any business from hooking into xRapid for cross border payments without a bank?”
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