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Here are the four (4) main areas you need to know about Xenchain and its progress ranging from Development Progress, ICO Matters, Events, and General Updates. Will be sharing more articles related to each segments! Stay tuned for more!  |
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Xenchain On the Blockchain using IPFS Xenchain’s latest progress update involves an update to the MVP, where we deployed IPFS nodes and enabled storing of the hash key onto the blockchain. In addition, Face-Match is required as further security for your personal details. After the Onboarding is completed, the user’s Personal Details will be submitted and encrypt by our Private IPFS Nodes. Subsequently, the IPFS Nodes will pass an encrypted hash which would then be submitted to the Blockhain Network. In this case, the personal details of the user can only be retreived if the user provide the private key, which are created when the user register through the app. As per the Flow of our Blockchain Solution, it allows our App to ensure that the user’s personal details will be store securely and can only be accessed through User’s Private key. In this case, through the use of IPFS Node, the personal details of each user will not only be stored in one place, however will be spread throughout the node allowing full redundancy if any IPFS Node is down. Furthermore the nature of IPFS would meant that existing personal details will continually be updated throughout the node, further enhancing the reliability. In addition, each personal details is encrypted by the IPFS Node, which in turn is further encrypted by the blockchain network. This meant that every personal details stored in IPFS Node can only be accessed by the Blockchain Network and the User’s Private Key. For more details, please see https://medium.com/@xenchain/xenchain-on-the-blockchain-using-ipfs-f177d620918a
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Announcement of conclusion of tokensale process and next development milestones of Xenchainhttps://medium.com/@xenchain/announcement-of-conclusion-of-tokensale-process-and-next-development-milestones-of-xenchain-4775b29c65d6Milestones ahead and moving forward
We will deploy our blockchain-enabled KYC ecosystem by 31st October 2018.
To understand the potential price driving XENC going forward, prospective clients will contract with Xenchain for KYC services. For example, we expect prospective clients to pay ~US$50,000 per project. Of this fee, 50% will be used to buy XENC from the market based on best available sell orders on the marketplace (until all 50% of the fee is used for purchases). This should lead to continuous demand for XENC.
Note 1: Purchase transactions will take the best available sell orders on the marketplace up to a price of US$4.80. Purchase orders will take all orders up to the full fiat-equivalent value. For example, if US$25,000 is purchased, this may consist of 10,000 XENC at US$2.00 and 2,000 XENC at US$2.50 (assuming these are the 2 best available sell orders on the marketplace).
Note 2: We will undertake purchase transactions on behalf of clients, and all purchase transactions will be published for purpose of transparency.
We look forward to giving regular updates to XENC token holders as we move forward with the business and project and are confident of meeting our milestones and targets. Join us on telegram for more updates!
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Xenchain CEO Steve Rao spoke about Evolution of Digital ID and eKYC using Blockchain together with Mohd Noor (co-founder & managing director of Rohingya Project), Zarah Tinholt (Co-chair of Blockchain for Social Impact, Board for Refugee Matters) and the moderator, Saad Mohib (Group CEO & co-founder of Halal Chain) at Bloconomic 2018.  |
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Thank you CryptoKrunch.io! |
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Update to Social Media bounty.
Kindly read original post for info.
Summary:
-Basic postings / retweets for Facebook and Twitter increased to 10 XENC per action. Maximum of 3 per week.
-Additional 20 XENC for excellent comments with postings/retweets that fulfill criteria stated in original post.
-Reddit bounty adjustment - only original text posts will be rewarded with 150 XENC. Refer to original post for details.
*** approved bounty hunters work in week 1 and 2 to be counted as 10 XENC per retweet, FB sharing, reddit comment.
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KYC on Financial Institutionshttps://www.youtube.com/watch?v=xl6gngGJyBUEnd users (us included) may complain about the paperwork & processes required for KYC implementations, financial institutions & their corporate clients are struggling as well. TOP 3 reasons why KYC is stressing them out.
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