Bezant Foundation Ltd (Singapore), which provides for the world’s first BaaS (blockchain as a service) based on Hyperledger Fabric, has just released their Q2 2019 Progress Report this Monday, July 15, 2019. The Report provides two significant updates which may be a game-changer not just for the much-hyped crypto project, but also for the industry as a whole.
P2P Lending on Blockchain - Real Use Case
In their Q2 Update, Bezant singles out crypto companies such as Omisego (OMG), Facebook (Libra), and others for addressing in their arguably cliche mission statements that they will ‘solve the problems of the unbanked’. Bezant writes that: “OMG is currently focused on their ‘Plasma’ backend technology as opposed to creating products that the unbanked can actually use; and Facebook’s Libra will actually require users to have a bank account or credit card in order to purchase Libra coins, in effect, creating their own crypto for use within their ‘banked’ ecosystem.”
This year, Bezant, has partnered with Jehmi Thailand to launch their P2P lending platform based in Bangkok, Thailand called Transwiz. The goal of Transwiz is to provide alternative lending to the 450 million unbanked in the Southeast Asia region by providing services to 70% of the population who do not have access to bank accounts.
Transwiz will run on the Bezantium blockchain which will provide: transaction speed/scalability of at least 1,000 tps, transparency (immutable ledger), the privacy of information (permissioned network), and security (consensus), and is developer-friendly through smart contracts (chain code) that can be programmed in Java, Node.js (java script) and Golang.
Led by Phadet Wongpayaban, a former Executive at Thaicom, a leading satellite operator in Asia, the Transwiz lending service was preliminary launched in February 2019 and has seen the loan values grow at a rate of 50x over a four-month period, as well as a 17x growth in users over the same period. The service is currently in beta with participation by invite only and on a limited basis. Full services are expected to launch in 4Q of this year.
Binance DEX Listing
Bezant believes that a longer term approach to “liquidity” and market value is needed for the sustainability of any token project. After careful consideration, Bezant applied to be Listed on Binance DEX (Decentralized Exchange), a new type of cryptocurrency exchange, in which traders own their private keys and control their funds. By listing on the DEX, Binance would enhance its interoperability between the Bezant blockchain and Binance Chain.
The journey towards listing on Binance was a momentous one: after Bezant’s Community Proposal was posted on June 25th, 2019, Bezant quickly rose to become the #1 Project Listing for that period in a matter of 48 hours, and then received a unanimous 11 out of 11 vote by Binance DEX’s validators to be listed on July 5th, 2019. The BZNT-464/BNB trading pair was then listed to begin trading on the Binance DEX on July 7th, 2019.
Today until Tuesday, July 16, 2019, with Bezant joining the Binance Chain, Bezant has begun swapping an initial 25% of ERC-20 BZNT (1 Billion total token supply) to the BEP-2 Token. The swap between the BEP-2 BZNT token and ERC-20 BZNT token, will allow for two separate token systems, while still maintaining the same total token supply. In order to stabilize the Bezant token ecosystem, we will provide a limited token swap period but after this swap period ends, token swaps will be closed indefinitely.
Moving forward: Bezant will be making efforts to qualify and be selected for the Binance BEP2 Community Listing Program, which would allow the BZNT token to be listed on the Binance CEX or Main exchange. This could potentially take place as early as the end of August. With the addition of a Binance CEX listing, our token holders will have liquidity options on the top-2 global cryptocurrency exchanges.
About Bezant
The Bezant team is comprised of experienced professionals from Kakao, Bithumb, Nexon, Xsolla, MOL, Razer, et al. The Bezant foundation completed the “Fastest ICO in Asia” in May 2018 with a public token sale that ended in less than one hour.
In April 2019, Bezant launched the world’s first commercial blockchain service co-developed with IBM, based on Hyperledger Fabric. The Bezant blockchain service provides enterprise-level scalability, ease of use, and ease of integration for dApp developers as it supports the most-popular programming languages Java and Javascript. Bezant is focused on providing a blockchain-based digital payments platform to business customers which is a US$4.15 trillion market. The team is initially targeting Korea and Southeast Asian customers as there is a strong need for the Bezant blockchain service to solve solutions in payments, lending, remittance, contents, data, et al.
For more information, visit us at the Bezant website (https://bezant.io/)