Huobi Transitions to a Decentralized Financial Platform

The Chinese group Huobi, a Singapore-based global financial services provider, has announced its investment of $ 100 million, or 20 million Huobi Tokens in the construction of a dedicated public Blockchain, a technology that looks promising for the company.

Huobi creates its own Blockchain and a decentralized exchange

Huobi has about 5 million users on its platform, spread across more than 130 countries.

Huobi currently ranks third in the crypto stock market ranking in terms of trading volume - which is estimated at around $ 1.2 billion a day. The group offers its first decentralized platform on a dedicated blockchain

In the same vein, the 21-month Huobi Chain Syperhero Championship program was initiated. It is mainly aimed at the global community of developers who are very enthusiastic about this technology and intends to build a public Blockchain called Huobi Chain, which will be regulated through a distributed control system between the users themselves.

Gordon Chen, the project manager at Huobi told Reuters :

"Huobi is transitioning to the Huobi Chain for two main reasons. First, we believe in a fully decentralized futurewhere a form of self-organization wants to build the future and lead that transition. We consider this a great experience, and we believe that this new world needs a new financial infrastructure. We have this ambition for Huobi Chain. "

A technological advance in Blockchain

More than 100 million dollars of Huobi Tokens (HT) will be invested for the public Blockchain. There will therefore be no central entity that controls the network, so that just about anyone can join the project.

"By building a public Blockchain, Huobi is migrating from a centralized society to a decentralized society that is run by communities," the company said in a press release.

"Our dream is that Huobi will operate on a public Blockchain and become a truly decentralized autonomous organization," said Leon Li, founder and CEO of Huobi. "Also, a percentage of Huobi's annual revenue will be invested in the project," added Huobi director Gordon Chen.
In parallel, the group launched a $ 1 billion Blockchain fund in May 2018 to invest in companies related to the large distributed registry. The fund will, however, focus on the Chinese market and fund startups across the country while advancing research and advances in emerging technologies.

The Huobi group plays on several tables related to crypto-currencies and Blockchain technology. Its activities include the exchange of digital assets, the mining pool, the Blockchain incubation and research.

The launch of Huobi Chain comes at a time when the company is seeking to democratize its operations in the United States and Europe. It seems that she will soon open an office in London.

What do you think of the launch plan for the Huobi Public Blockchain? Tell us in the comments section below.