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Waltonchain and MEDIUM Will Develop the Chinese Market Together
A Blockchain Publicity Hall Is Planned to Open in Yancheng China-Korea Industrial Park

https://waltonchain-en.medium.com/waltonchain-and-medium-will-develop-the-chinese-market-together-ff9a66b2901f

Today, Waltonchain (represented by Do Sang Hyuk) and the blockchain technology R&D company MEDIUM (represented by Kim Panjong) have signed an agreement to develop the Chinese market together.

According to the agreement, MEDIUM will help boost the development of Waltonchain’s platform, assist Waltonchain in the development of the Light-Weight Blockchain technology, participate in marketing and promotion in the Korean and Chinese markets, and collaborate on government innovation. The partners have also decided to build a private/permissioned blockchain network on Waltonchain’s platform harnessing MEDIUM’s technology and to develop the Korean marine logistics market together.

Using Waltonchain’s IoT + Blockchain platform, MEDIUM dev team will help in commercialization of Waltonchain’s core commercial blockchain technology applications and assist in the development of high-speed search and real-time processing for the platform.

As MEDIUM’s partner, Waltonchain will develop the Chinese market for the ultra-high-speed blockchain solution dubbed Medium Distributed Ledger (MDL) and promote it in Yancheng and Shenzhen (China). First, with the establishment of a China branch of Korea Blockchain Institute in Yancheng China-Korea Industrial Park, MEDIUM’s MDL platform and related technologies will be displayed at the Korean Blockchain Technology Publicity Exhibition Hall that will serve as a marketing base in China. Next, China’s Shenzhen Special Economic Zone is chosen a key strategic market where MEDIUM will leverage Waltonchain’s multiple promotion channels for marketing activities.

MEDIUM has already started to enter the Chinese market. In the agreement signed earlier with the Chinese blockchain company PeerSafe, MEDIUM stated its efforts in the promotion of the development of China’s trade and financial transaction platform and future assistance in establishment of a China-Korea trade and financial transaction platform.

WaltonChain: https://coinmarketcap.com/currencies/waltonchain/

PeerSafe:


Medium Forms a Partnership with PeerSafe to Build Asia’s Biggest Trade Finance Transaction Platform

Jan 22, 2021 Korean Language
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Medium announced that it signed a business agreement with PeerSafe, which is a leading company in blockchain solution from China, in order to expand China Banking Association’s CTFU (China Trade Finance Union blockchain platform) as a Korea-China trade finance transaction platform.
The signing took place online at their headquarters and it involved CEO Kim Pan-jong of Medium, CEO Yan Ting of PeerSafe, and CEO Ji Cheng Chen and CTO Zhang Feng of PeerSafe’s technology subsidiary called Peercom.
PeerSafe is the only Chinese company that is authorized by the Ministry of Public Security to sell information security products and certified to classify commercial cryptocurrencies and is able to supply software to public agencies of the central government.
CTFU that is currently being built by PeerSafe is a major trade platform that has ICBC (Industrial and Commercial Bank of Korea) and 12 banks such as China Construction Bank, Agricultural Bank of Korea, and Bank of China from China Banking Association (CBA). The project was initiated from a blockchain-based trade platform that China Construction Bank has been managing since January of 2018. In December of 2018, CBA announced its plan to launch the CTFU platform that expands China Construction Bank’s trade platform towards the entirety of China.

CBA has chosen South Korea as the base for expanding the CTFU platform towards other Asian countries. This project, which is also called CKTF (China Korea Trade Finance transaction platform), is overseen by PeerSafe, which has been leading the entirety of the project such as the project’s concept, plans for the project’s operation, and technologies of blockchain system since 2018, while Medium has been selected as South Korea’s technology partner.
Medium explained that PeerSafe presented high-performance blockchain technologies based in Hyperledger that are able to expand the CTFU platform towards the entire ASEAN region as a selection criteria and that Medium was selected after going through various performance verification processes that had taken place since August last year.
The company is expected to play a major role in providing high-performance blockchain called “MDL (Medium Distributed Ledger) infrastructure” for stable operation and expandability of the CTFU platform, exchanging technologies with Chinese companies for system integration companies, and becoming a testbed for South Korea for globalization of South Korean companies. It plans to create a consortium within South Korean banks in order to establish a stable connection within trade transactions between South Korea and China that can be worth up to $243.4 billion annually and improve the cost structure where hundreds of millions and billions of dollars are wasted in international trade transactions.
“Just like China’s finance consortium, South Korea’s commercial banks are already participating a consortium and the number is growing gradually.” said CEO Kim Pan-jong of Medium. “Our company will do our best so that the platform between South Korea and China can become a global financial platform that covers the entire world.”
Staff Reporter Koo, Kyohyeon | [e-mail]

https://english.etnews.com/20210122200001