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Secretary Raul Lambino (third from right) seals CEZA's collaboration with Apsaras Group Ltd. with a handshake. based in Hong Kong through the intermediary of its president Jian Li. In the frame is the main FTSOVC temporary license that CEZA has issued to Liannet Technology Ltd., a subsidiary of Apsaras. Raymundo Roquero, senior deputy administrator of CEZA (second from the right) and others applaud the renewal of the FTSOVC license
Edd K. Usman's history and photo
If all 25 first offshore virtual money companies go CEZA Secretary Raul L. Lambino, director and CEO of CEZA, recognized the need on 26 July at the "AmberTime Blockchain Technology Summit". He said that this is the reason CEZA spoke to the electricity companies who also expressed their willingness to build new power plants, not necessarily inside the Freeport Economic Zone. Special Cagayan of CZAJA (CSEZFP). ), but in the surrounding area.
For some of the offshore financial technology companies (fintech) engaged in blockchain applications and cryptocurrency services, he said that a 30-megawatt power plant would be H.
"For 25 companies, we may need a 200 megawatt power plant, "said Lambino, while acknowledging that not all purses are used for the extraction of tokens (virtual coins). 19659004] So, why mining, for example, a bitcoin (other digital parts are also being exploited), consumes a lot of electricity, here's what The Balance says is the cost in May 2015
"At this rate, the network bitcoin (for mining) runs at 342 934 450 watts, which equates to about 343 megawatts." Calculations based on EIA data reveal that the The average American household consumes about 1.2 kilowatts of electricity, which means that 343 megawatts would be enough to power 285,833 American homes at the time of writing this report (May 2015). "
mining consumes a lot of energy because of the enormous computing power that miners around the world need to solve mathematical puzzles that would earn them a bitcoin or two.
Every transaction in the digital world using a virtual currency must be verified is added to the blockchain network. Verification is part of the mining process
$ 800 million investment
CEZA's chief met with journalists on the sidelines of the summit, establishing future plans for the area .
this meant their interest in building their own integrated entertainment complexes with the hotel and casino in the area, for a combined investment of $ 800 million.
Lambino said the companies plan to put every $ 100 million for their respective companies. In this regard, one of the companies listed in Japan, Hong Kong, Malaysia and South Korea is willing to invest $ 500 million, said Raymundo Roquero, Senior Deputy Administrator of CEZA.
not reveal which company and which country, saying that it is not yet time.
Operating License
During the summit, CEZA awarded and delivered to Apsaras Group Ltd. Hong Kong's second Financial Technology S olutions and Offshore Virtual Currency (FTSOVC) to operate and engage in blockchain applications and cryptocurrency activities at CSEZFP in Sta. Ana, Cagayan
The license is for Liannet Technology Ltd, a subsidiary of Apsaras (the holding company).
Thursday's summit also reported the release of the Apsaras token under the name "CEZA Coin", apparently a tribute to their partnership. Both organizations hoped that CEZA's coin would be used in free port transactions.
In addition, the event officially launched the Apsaras CZC Digital Currency Exchange aimed at supporting the incubation of blockchain startup teams, industrial funds and third-party financiers. legal services. digital currency market valuation management, community operations, services such as blockchain applications and cryptocurrency services, digital payments, the initial offer of parts (ICO), among others.
Lambino officially handed over to Jian Li, president of Apsaras Group Ltd. Provisional Principal License, which authorizes Liannet "to conduct business activities (FTSOVC), including the authority to endorse FTSOVC as a licensee and outsourcing company as a service provider for the period from June 26, 2018 to December 26, 2018. "
He said that Apsaras aims to "use blockchain technology and cryptocurrency to create the application environment, the whole industry value chain and the industry. "Blockchain ecosystem for our investment and development projects."
His company, he assured, is ready to collaborate and work with CEZA to make the area an Asian Silicon Valley taking advantage of the blockchain technology and cryptocurrency.
"This should be a great pioneering and transformative vision in the history of humanity"
. Rapid evolution in the financial world characterized, inter alia, by contactless transactions that fintech companies are turning into the "new face of payments."
"With Internet access and a smartphone becoming almost universal, more people can talk, but also exchange, trade and transfer money effortlessly with new technologies. Authority of the Economic Zone of Cagayan, would like to be a significant part of this envisioned future, "said the head of CEZA
" That's why offer, in Asia and around the world, CEZA as a a refuge for Fintech innovations and for technology business opportunities to grow.
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