‘Locus Chain Foundation’ Signed a strategic alliance agreement with the Democratic Republic of the Congo.
‘Locus Chain Foundation’ Signed a strategic alliance agreement with the Democratic Republic of the Congo.
The next generation block-chain platform, Locus Chain Foundation, has entered into a strategic alliance agreement to implement the “Locus Chain” as the national resource development projects, distribution systems and financial systems of the Democratic Republic of the Congo
The Democratic Republic of the Congo is Africa’s third largest country with a population of 84 million. It has the largest arable area and rich in minerals such as cobalt (40% of world production), diamonds (20% of world production). Mineral resources produced in the Democratic Republic of the Congo are highly likely to be uses in the ever increasing worldwide.
The main contents of the agreement are applying the block chain platform ‘Locus Chain’ to the national resource development project and distribution system of the Democratic Republic of the Congo and using it as a settlement currency. In addition, to develop and apply the online banking system of the banking and securities firms based on the ‘Locus Chain’. In particular, with the introduction of block-chain technology in the field of resource industry, expected to develop into a stable industry that does not depend on exchange rate and low cost effect compared to existing ones. In will also expanding to resource and finance sector as well.
When “Locus Chain” introduced into the resource production and distribution industries, it is possible to directly deal with resources and energy, and all transaction records making market transactions more reliable and fairer than ever. Applying the block chain technology to the financial industry will increase the reliability and credibility of financial transactions by reducing the cost of fund management and streamlining procedures in asset management, registration, settlement, trading, and identification.
Lee Sang-yoon, CEO of Locus Chain Foundation, said, “The Democratic Republic of the Congo is a country with abundant resources in a large land area, a high possibility of rapid economic development, and it is very likely that it will soon become a major consumer market around the world. However, there is a lack of systematic system development in the development, production, and management of resources. However, the application of ‘Locus Chain’ in the future will establish a transparent management system, which will lead to more national profits and economic development. I think I can contribute. ‘Locus Chain’ has an Account-Wise Transaction Chain (AWTC) structure and a Dynamic State Sharding technology that can control the size of a ledger, It is possible to operate quickly and reliably in Africa where the environment is relatively underdeveloped.
