VANTA Collaborates with HYCON and MakerDAO

VANTA Network is now a proud partner of HYCON (Glosfer) and MakerDAO.

VANTA Network is proud to announce that we have partnered with HYCON (Glosfer) and MakerDAO to collaborate on a government project for mass adoption of cryptocurrency for local stores and merchants, as well as VANTA’s API for real-time communication

The very first local cryptocurrency around the world, which was based on HYCON blockchain network, successfully prevents a lot of monetary problems through enhancing transparency. Glosfer’s local cryptocurrency platform can be customized flexibly according to the needs. In the future, more services such as payment functionality will be added.

A number of cities in South Korea have been using their own local currencies, in the form of gift certificates, as an effort to promote the growth of local economies and the preservation of capital within each city. The government’s efforts were met by success and the use of local currencies are spreading fast. As a result, the nation is on the move to quickly switch their local currencies into cryptocurrencies in order to increase speed, transparency, and security in their transactions.

Glosfer (HYCON), a leading blockchain technology and services company, is in collaboration with a local South Korean government to create local currencies for multiple cities across the country. In 2018, Glosfer successfully launched the Hycon Coin (HYC) that runs on its own mainnet, and gained recognition by South Korean government agencies and public organizations.

Nowon, for example, released a mobile app for their local currency in February 2019 and will be the first to implement Glosfer’s solution.

VANTA Networks provides our API to be used by small business owners and enterprises to easily connect with their local community. Using VANTA’s API creates opportunities for marketing, and a portal for sending/receiving data while drastically reducing service fees.

Local users also benefit from VANTA’s API by having a safe but unrestricted method of communication within their community. These services are extremely useful and are efficient in sectors like charity/volunteer services, p2p transactions, networking and more.

Glosfer (HYCON)

Established in 2012, Glosfer provides blockchain-based solutions in the field of fintech, and is one of the largest blockchain companies in South Korea. Glosfer gained recognition by the South Korean government agencies and public organizations and are currently collaborating on several different projects, such as Nowon Currency for Nowon District, business proposal evaluation system for Yeongdeungpo District Office, and the port management system for the Ministry of Oceans and Fisheries.

MakerDAO

MakerDAO is providing stability for the cryptocurrency industry with its stable coin called Dai (DAI) and its native cryptocurrency known as Maker (MKR). Maker (MKR) is the 16th largest cryptocurrency with a market cap of $738 million.

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