BEIJING , Dec. 6, 2018 /PRNewswire/ -- The development of blockchain technology has attracted a great deal of attention in 2018, an explosive yet turbulent year for the blockchain industry. With its ongoing development, the technology has played an important role in finance, healthcare, document notarization, communications, e-commerce, trade and social networking over the past decade, thanks to its incomparable advantages, among them, decentralization, openness, transparency, security, reliability and increased trading efficiency. A variety of blockchain-based digital asset exchanges have rapidly entered the market. However, most of them are fixed-model exchanges, lacking, for the most part, what is really needed. That situation is about to change.
Blockchain-based digital asset exchange SDX will hold its launch ceremony in China on December 15, 2018 and start trading in January 2019 . SDX has entered into partnerships with and obtained financial licenses from the governments and oversight authorities in Mauritius , Grenada , the Antigua and Barbuda Caribbean Free Trade Area as well as the Commonwealth of Antigua and Barbuda . The number of participating countries is on track to grow to 16 within the next year. The Asia Pacific Holding Foundation, the issuer of the exchange's token Asia Pacific Holding (APH), will be legally protected in the free trade zones of these countries, where APH will become their fiat currency and the digital asset to be used for settlement of payments, the conducting of trade and the one that will be put into general circulation in the near future.
APH is a digital asset based on Ethereum ERC2.0 technology and will be mapped to the network backbone within one year. APH uses a decentralized, consensus-driven approach to build a trusted trading network for users, merchants and consumers. The Asia Pacific Holding Foundation was established based on APH to promote applications in tourism, real estate, retirement investing, movie production and distribution, agriculture, artificial intelligence, healthcare, technological innovation and e-commerce, among other industries, as the building block for an APH ecosystem, with an aim of creating a robust blockchain exchange with a wide range of practical and real life applications.
The emergence of SDX has solved many problems facing blockchain exchanges today.
According to statistics from Coinmarketcap, digital asset exchanges have been in growth mode since early 2017. Total market capitalization of blockchain assets worldwide now exceeds US$700 billion , with daily turnover surpassing US$60 billion , of which the proportion that are Bitcoin transactions having dropped from 90 percent to 33 percent. Compared with the global foreign exchange market with a daily turnover of more than US$5 trillion , the blockchain asset market still has much room for development. According to available information, there are approximately 20 million owners of blockchain assets worldwide, demonstrating that the user base also has huge growth potential when compared with the more than 1 billion individuals or entities that own stocks.
The rapid development of blockchain exchanges nevertheless gives rise to many issues. The sector lacks a comprehensive service platform. Digital assets have extensive application scenarios and can be used in a wide range of industries. In today's digital asset market, there is no single truly comprehensive digital asset application platform, and this has hobbled the ability to create the liquidity needed for a sustainable development path. There are now more than 1,614 kinds of digital assets. Given the huge potential of the market, there are but a handful of platforms that are capable of implementing digital assets in anything more than a handful of scenarios. A comprehensive digital asset application platform is urgently needed to achieve the needed liquidity and open up the sector to the wide potential that certainly exists in terms of application scenarios.
Secondly, the digital asset exchanges market lacks applications in brick-and-mortar scenarios. Digital assets, whose main selling points are the high levels of security and trust, are the result of a combination of technological innovation and social demand. Their emergence and development are closely related to the deficiencies of the existing monetary system. The blockchain technology used by both statutory and non-statutory digital assets will create a reliable, credible and transparent digital asset system. Having full transparency in terms of digital assets in circulation allows for instant settlements, increased liquidity, lower levels of collateral needed to secure a mortgage and reduced trading risks. However, neither statutory nor non-statutory digital assets can be said to truly be in wide circulation now. This lack of liquidity makes it difficult to connect them to and apply them in brick-and-mortar scenarios.
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