VELIC has established a strategic partnership with ICON. Blockchain is eating the world. ICON is leading the forefront by interconnecting isolated projects. VELIC’s aims coincide, in that VELIC unifies disparate services into a single “Digital Asset Financial Service”.
Each letter of VELIC represents one of its core services. Vault: privately secures private keys in a decentralized state. Exchange: provide crypto-to-crypto exchange alongside trade-mining staking features. Loan: create an internal credit-rating system that enables the borrowing of crypto assets. Investment: provides crypto asset management services for crypto assets on VELIC. Crypto Assets: most importantly, VELIC will primarily be focused on developing a financial crypto financial infrastructure.
Focusing on crypto assets aligns with VELIC’s aim to reset the financial landscape. Path dependency has made drastically altering the course of contemporary institutional unviable. By restarting from a blank-slate, VELIC aims to create a new financial paradigm based on crypto. Which provides a decentralized opportunity for the masses, rather than consolidating authority to centralized minority institutions.
As a financial DApp, VELIC has been searching for a suitable smart contract platform to develop upon. Our team reviewed Ethereum, EOS, Hyperledger, and Qtum, however, we ultimately decided to develop on the ICON’s loopchain. Not only will ICON’s loopchain enable VELIC to scale to enterprise-level, but conversely VELIC will help expand ICON’s ecosystem as well
Timothy Yang, the CSO of VELIC, supports the ICON partnership, “The strategic partnership with ICON will help secure VELIC’s crypto asset services even further. By utilizing ICON’s proprietary technology (loopchain), we expect VELIC to exponentially grow its financial services.”
J.H. Kim, council member of the ICON Foundation, looks forward to the opportunities that VELIC opens up, “VELIC has the unfair advantage as being one of the first total financial services ranging from asset management to loans. As a global exchange VELIC can introduce ICON to a new global user base. ICON aims to co-expand the blockchain ecosystem by providing technical support (loopchain) to VELIC.”
The VELIC Crypto-Finance platform aims to launch the exchange and native VELT token in Q1 2019. Learn more about the project by visiting the website (https://www.velic.io).
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