Regulatory sandbox of blockchain

1. As for the business process and technology of digital asset trading system development, we thought for a long time that 80% of blockchain implementation needs business process changes, and 20% needs to find the technology behind it. In fact, a good project and a good market need the support of a strong technology research and development company. At the same time, you also need to have enough ambition to deal with the bottlenecks in the process of changing the business process. This month, the Hong Kong Securities Regulatory Commission (SFC) issued a new rule on digital assets, including the digital asset portfolio under the supervision of the SFC, and launched a "regulatory sandbox" plan for the digital asset exchange to study whether the digital asset trading platform can be regulated. The exchange development company believes that this news has a clear direction for those in the instry who need to manage digital assets and establish exchanges, and explore the sustainable development of digital assets and blockchain ecosystem. In the instry, doubts about digital assets and blockchain technology have been rising and falling, but the combination of blockchain and various applications has never stopped. Especially in Hong Kong, more market participants believe that this distributed network consensus mechanism is a disruptive technology. In view of the future development of exchanges, the key points of licensing adaptability are very beneficial to the global joint governance of the global market of digital assets. The entry of Wall Street tycoons such as the New York stock exchange means that the main force and "regular army" of professional level are running to enter the market to lay out digital assets, which indicates that bitcoin is more and more valued by professional financial investment institutions, and bitcoin will become more and more popular and be recognized and accepted by more people. The financial instry first embraces blockchain technology. This is mainly e to the high degree of centralization of traditional financial instry. There are a large number of centralized credit intermediaries and information intermediaries in the chain of traditional financial instry, which slow down the operation efficiency of the system and increase the cost of capital flow. Any "exchange" should be a big data company. In essence, it should be a data analysis company. It must know what time and space, what driving force, what transaction frequency, what expectation and what path users obtain information to decide the transaction
the foreign currency trading platform is built, and the blockchain digital currency exchange develops the following trading forms of blockchain exchange: 1. Price limiting transaction: price limiting buy / sell refers to that the user sets the price and quantity of a buy / sell currency, generates a commission order, and the system will automatically match the buy order and sell order in the market, Once the price set by the user is reached, the transaction will be executed automatically according to the priority of price and time. Yuanzhongrui exchange system development 2. Market price trading: market price buying refers to that the user only sets a total amount, generates the order, matches from the beginning of selling to the completion of the total amount. Selling at market price means that the user only sets the total number of currencies to be sold, generates a commission document, and matches it from the beginning of buying to the completion of the total number of currencies transaction. 3. Currency transaction: currency transaction is mainly aimed at the transaction between virtual currency and virtual currency, in which one currency is used as the pricing unit to purchase other currencies. The currency transaction rule is also to complete the matching transaction according to the price priority and time priority. 4. C2C transaction: both sides of the transaction release the transaction information of buying or selling coins on the C2C transaction platform according to the demand. The buyer and the seller complete the transaction offline according to the agreed payment method, and the platform, as an intermediary, charges a certain proportion of the handling fee from each successful transaction. 5. OTC OTC trading: it is a set of platform for offline purchase of digital currency independent of the exchange. Anyone can publish purchase / sale advertisements on the platform. The purchase / sale users can purchase / sell through offline transfer. After the transfer, the platform will transfer the frozen digital currency to the buyer
What are the characteristics of digital currency trading system 1) Digital currency trading system has rich functions, powerful and practical. The unique full interface functions of fast recharge, cash withdrawal, cash charging and cash withdrawal can provide customers with the most convenient means of fund transfer 2) Using the blockchain technology, and in-depth running safe and reliable price limit, market price, plan three transaction modes, a variety of free combination of transaction modes, fully covering the needs of users, using exclusive advanced algorithm to complete the transaction automatically 3) Digital currency trading system platform back office proprietary accounting mechanism to monitor the funds of all users, as well as multi-dimensional exclusive reports, to ensure that the funds are accurate. The so-called development of digital currency trading system can also be called a development project with blockchain technology as the core and other technologies as the auxiliary. You should also understand this sentence. In fact, blockchain technology is the most important technology in the development of trading system 4) Proprietary powerful log management to fully grasp the system state, to ensure the stability and security of the system 5) Digital currency trading system features user-defined settings, free and flexible system configuration and dynamic management of the foreground website, which brings great convenience to the use of the platform 6) Procts can use the existing virtual digital currency in the market, or can be customized according to their own needs, and then issue a variety of different algorithms of virtual digital currency, using the unique hot and cold wallet multiple encryption storage technology to ensure the security of virtual digital currency. Foreign currency exchange platform construction and blockchain digital currency exchange development

2. The application scenarios of blockchain technology are diverse. Once it is popularized, the whole society will be greatly benefited
1. Financial services
the application of blockchain in the financial field has already spread out, which is not a new thing. The application of blockchain in financial technology has been widely concerned and highly valued all over the world
in mainland China, China UnionPay signed a strategic cooperation agreement on mobile payment with Bank of China in early 2018, explored cooperation in the field of blockchain, and then cooperated with Jingdong to jointly launch the "Internet financial payment security alliance risk information sharing (distributed query) platform" based on blockchain
in Hong Kong, China, the Hong Kong Monetary regulatory authority is one of the earliest regulators to launch sandbox, supporting financial innovation experiments including blockchain technology; The HKMA has also joined hands with the banking instry to launch etradeconnect, which is the first large-scale trade financing information sharing platform for Hong Kong banking instry to apply blockchain technology< On September 18, 2018, Hangzhou Internet court officially launched the chain and became the first court in the world to use blockchain for trial
it is understood that prosecutors can submit electronic evidence such as contract, rights protection process and service process details online through online complaint portal, and notarization office, forensic identification center, CA / RA organization, court and other chain nodes can witness and endorse together to provide one-stop service for prosecutors. Hangzhou Internet court of Zhejiang Province made a public judgment on a case of infringement on the right of network dissemination of works' information, and confirmed the legal effect of electronic data with blockchain technology for the first time
3. Intellectual property
blockchain and related distributed ledger technology provide the possibility for the protection and registration of intellectual property, as well as evidence in the registration stage or court litigation stage. These technologies can also speed up the above intellectual property protection and registration process in a cost-effective way
4. Logistics
in early 2018, rookie and tmall global jointly announced that blockchain technology has been used to track, upload and verify the logistics full link information of cross-border imported goods
after all nodes of the logistics chain are connected to the blockchain, the goods can be traced from manufacturers to consumers, forming a complete chain; The more links the commodity is missing, the more likely it is to be a fake proct
5. Electronic invoice
on August 10, 2018, Shenzhen International Trade revolving restaurant issued the first electronic invoice of blockchain in China. It is understood that this electronic invoice of blockchain was led by Shenzhen Taxation Bureau and provided by Tencent with underlying technology and capability
different from traditional e-invoice and simple e-invoice on the chain, this blockchain e-invoice integrates "capital flow and invoice flow", combines invoice issuing with online payment, and opens up the whole process of invoice application, invoice issuing, reimbursement and tax declaration
in addition to the above fields, the application of blockchain has broad blue ocean prospects. In the future, new technology application and development will emerge in all walks of life, and blockchain will flourish.

3.

Singapore blockchain ICO company

according to the analysis of market results, at present, 70% of the companies registered in Singapore are public companies, and 30% are private limited companies

in particular, there is no legal entity in Singapore called "foundation". What we usually call registered Singapore foundation refers to the type of public company

Singapore public company:

1. Independent legal entity

(2) limited liability: joint and several liability is the maximum amount of guarantee promised by each member (it is possible to compensate at most S $1)

3. No shares or share capital

4; Articles of association) to clarify the upper limit of each member's liability

Non profit: initially, it was mainly for non-profit organizations

6

the company needs at least 2 company officials. At least one director must be Singaporean or permanent resident (Bajie can provide)

Singapore private limited company:

1. At least one shareholder and at most 50 shareholders can be natural persons and companies

2. At least one local director and one legal secretary (not the same person, Bajie can provide them)

3. Limited liability

4

Three years before the establishment of the company, the profits of the first 100000 Singapore dollars are exempt from corporate tax, the tax rate of the company within 300000 Singapore dollars is 8.5%, and the tax rate of the part exceeding 300000 Singapore dollars is 17%

is Singapore blockchain ICO a public company or a private limited company? What are the conditions

registration conditions and fees of Singapore public company:

1. Company Name: English only, company type is public guarantee limited company, ending with Ltd. or limited

Registered capital: there is no registered capital, but each member will pay in S $1

3. Members of directors: the requirements of directors are the same as those of ordinary companies, but there are no shareholders

Registered address: Bajie can provide

Business scope: at most 2 main business activities can be selected (generally computer software, network, information technology, etc.)

Legal secretary of the company: Bajie can provide

registration time: 4-6 weeks

registration conditions and fees of Singapore private limited company:

1. Company Name: English only, company type is private limited company, ending with PTE. Ltd

2. Registered capital: there is no need to verify the capital. The minimum is S $1, the maximum is S $500000, and the annual fee of Singapore business alliance is required

3. Directors and shareholders: at least one scanning of passport + ID card (address proof) of directors and shareholders shall be provided, and non Singaporean shall register. If an account needs to be opened later, at least two directors (except Singaporean local directors) shall be provided for registration

4. Registered address: local registered address in Singapore (available from Bajie)

Business scope: at most two main business activities can be selected (generally, the business scope of computer software, network, information technology, etc.)

Legal secretary: provided by our company

registration time: usually 3-4 weeks

note: after the registration of general for-profit foundation, there is no need to audit if there is no bank account, while the annual inspection and audit of non-profit foundation must be done every year after the registration

after the Singapore blockchain ICO company established the Singapore foundation, if it wants to issue currency, it will also involve four certificates:

1. White paper compliance: to prove that the projects undertaken by the foundation are in line with Singapore regulations, to prevent MAS (monetary authority of Singapore) investigation, which need to be used when going to the exchange

2. Token non securitization proof: prove that the project is non securitized, avoid causing trouble, and securitization is unable to engage in block chain related business in Singapore

3. Compliance of private placement terms: proving that the fund raising and sales concted before going to the exchange are legal and compliant

4. Compliance of public offering terms: it is equivalent to the commitment made to the majority of investors after going to the stock exchange, increasing the confidence of investors

note: the above certificates can be provided by Bajie Singapore lawyers