FormulA On the IDAX: Real Asset Trading Has Officially Changed
SHANGHAI, July 2, 2018 /PRNewswire/ -- On June 30th, FormulA formally launched on IDAX, a blockchain digital asset trading platform, its token, FML increasing by 112% on the first day. The project primarily targets the registration and trading of real assets, this well-considered blockchain newcomer is something which the entire world now can access. FormulA is comprised of industry experts from Israel, the United States, and China. In addition, it is ably supported by the Chinese Academy of Sciences in terms of the quality of its technology, and numerous media outlets have touched on its capacity.
The reason FormulA has received extensive attention is because it uses an entirely new asymmetric encryption technology and decentralized system to construct a tamper-proof distributed ledger. The consequence of this is that participants in the asset market are able to safely and efficiently complete a non-trust environment on the registration and trading of assets. FormulA's strengths in technology, application value, and market operations have also been recognized by major trading platforms. As a result, there is a significant level of anticipation regarding the launch of this platform. There has been a great level of attention directed towards FormulA such that it was invited to participate in the "Global Sleepless Blockchain Leaders' Summit and China International Blockchain Products and Equipment Exhibition."
IDAX is one of the strongest players in the market created by the Global Blockchain Research Center (GBC) and is a global digital financial service platform focused on blockchain asset transactions. Compared with traditional digital asset exchanges, IDAX exchanges have more secure technical guarantees and convenient and smooth operation procedures for transactions. As a result, they strive to build a trustworthy international blockchain asset trading platform in the era of centralization and development of the entire GBC. An IDAX spokesperson said: "We surgically examine the online review conducted by the project team and not only do we need to examine its technical capacity but also take into account the background, market operation and promotion capabilities of project parties, and the ecological value of the blockchain." Furthermore, he also mentioned that he made a first-line invitation to the member of the FormulA Foundation in March.
In light of the fact the project has launched, Stephen Song, a partner of the FormulA Foundation in the Asia Pacific region, outlined his expectations with respect to its success and development and the cooperation with IDAX. "For the global launch platform, we hope not only to be able to secure transaction volume, but also to have a long-term relationship in terms of technical support and ecological cooperation. After comprehensive consideration, we think it is worthwhile to start cooperation with IDAX," Stephen holds a Master's Degree in Finance and Accounting from the University of Rotterdam in the Netherlands and was the Head of Risk Control in Asia Pacific at Philips World Headquarters. Referring to his earlier years in the Netherlands, he not only learned how to be courageous like a "sea coachman" in terms of developing and exploring but also accumulated a wide range of industry resources that have been beneficial for FormulA with respect to registering a large number of assets after launch.
On this exact same day, FormulA also opened the transaction function of recharging and cash withdrawal and as far as the recent market sentiment is concerned, global partner of FormulA David Brown noted that, "It is understandable that landing the trading platform for the first time means that we have gone one step further towards the goal of building a global trust system. Going live on the 30th of this month indicates there is no pressure despite the fact there is a feeling of a downturn in the market."
About FormulA
FormulA is a leading blockchain project aiming to build a reliable Internet of Asset (IoA) which can be deployed to register and exchange the value of real assets. Based on the "Decentralized Asset Protocol", FormulA provides a universal solution for asset digitalization and reforms the status quo of the entire asset market. We can also empower financial institutions to increase their efficiency while decreasing potential cost and risk.
SOURCE FormulA
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