8th Continent joins the Bancor decentralised liquidity network
NEW YORK, May 19, 2018 (GLOBE NEWSWIRE) — 8th Continent Social Marketplace, China Next-generation Digital Economy, issued its own utility Tokens activated on the Ethereum Blockchain. In order to provide continuous liquidity to users of the Marketplace, 8th Continent Tokens will integrate with the Bancor Protocol after the Token public sale ends in June 2018. 8th Continent is a symbolic designation of China, and the Marketplace is aiming to deliver a sophisticated, AI-based and fine-tuned digital economy mainly to Chinese users.
The Bancor Protocol is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive.
8th Continent Social Marketplace was created by Seventh Continent Ltd an independent software company dedicated to establishing Blockchain-based digital economy as a game: a convergence of online economy simulation game, virtual world and social network. Registered in the UK, having a skilled development team based in Budapest, Hungary, the company is best known for having created the world’s first Bitcoin-based digital exchange with a real-cash economy, Seventh Continent in 2013.
China banned the ICOs last year but not the Blockchain: companies offering Blockchain-based useful solutions are officially supported. Chinese Government is also developing its own cryptocurrency and Blockchain according to official announcements, and has been encouraging investments in the technology.
8th Continent Social Marketplace
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5794b4db-f131-41f2-bad3-6e6a01df9768