Digital Asset Issuance and Trading - Wecast Network Hong Kong Holdings Limited
The Digital Oil Asset Index ("DOAI")
HONG KONG, March 28, 2018 (Newswire.com) - The world’s first digital financial asset product will be launched by an elite team of financial technology companies including Seven Stars Cloud Group, Inc., Seven Stars Energy Pte. Ltd., Wecast Network Hong Kong Holdings Ltd., BBD Digital Capital Group Ltd. and Gold Glory Blockchain Company, Inc.
The Digital Asset Issuance and Trading team will develop big commodity index products, such as DOAI for crude oil, using multi-dimensional dynamic data analysis, providing a valuation metric known as Digital asset Return (“DaR”). This marks a quantum advance over legacy static valuation models, enhancing trading and risk management strategies. The digital assets are then tokenized for global trading.
Wecast Network Hong Kong Holdings Limited shall issue tradable tokenized digital asset tokens with clearance and settlement records securely recorded on the Ethereum network. DOAI tokens are created through ERC-20, the Ethereum token standard with Gold Glory Blockchain Company, Inc. as the blockchain technology provider.
The tokens are built atop Ethereum, the smart contracts platform powered by ether. Tokens are securely stored and tradable on the blockchain in multi-signature custodian wallets that allow for the settlement of tokens and fiat currency on the Digital Asset Issuance and Trading Platform. The DOAI blockchain ledger will operate as an omnibus account for clients. Whenever tokens are received, the omnibus wallet sends a notification to sub-account wallets. When notification is received, it updates the token balance in the trading system. Similarly, if withdrawals are requested and they are approved, an automatic transfer can be triggered through the omnibus wallet. The primary method to provide secure token storage is to hold them offline, also known as “cold storage.”
Source: Wecast Network Hong Kong Holdings Limited