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DEC
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HashKey Group and Velotrade Partner to Build Blockchain Platform for Trade Finance

HONG KONG, Dec. 3, 2019 /PRNewswire/ -- In order to add trust, efficiency and speed to its trade finance platform which directly connects SMEs and professional investors, Velotrade Management Limited ("Velotrade") is collaborating with HashKey Digital Asset Group Limited ("HashKey") on implementing a blockchain-based platform. This cross-border project involving multiple countries will leverage the success that HashKey has previously enjoyed for projects in China across industries such as automotive and supply chain.

Pain point of today's Trade Finance processes before Blockchain

Despite the fact that traditional trade finance is a long-established industry, when firms are expanding rapidly, inefficiencies in management arise and it becomes difficult to keep track of all the parties involved. The processes of trade finance are out-dated. They require manually creating and reviewing contracts, documents and regulatory requirements.

This results in delayed transactions and, ultimately, a poor customer experience. Double financing could be a recurring issue due to the inability to effectively verify document authenticity or track the flow of transactions. Miscommunication issues are common as the current trade finance structure involves multiple un-integrated platforms.

All these pain points contribute to management inefficiency and lead to a higher risk of fraudulent activities. Now with the growing popularity of blockchain, companies are turning to the promising solutions this new technology has to offer.

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DEC
03
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underwrite.ai Leverages H2O.ai to Modernize Credit with AI

underwrite.ai Leads with H2O Driverless AI to Radically Outperform Traditional Credit Scorecards

MOUNTAIN VIEW, California, Dec. 3, 2019 /PRNewswire/ -- H2O.ai, the open source leader in artificial intelligence (AI) and machine learning, today announced that underwrite.ai, a global provider of artificial intelligence-based credit underwriting models, is leveraging the automatic machine learning platform H2O Driverless AI to power their fully automated and compliant process for quickly and effectively determining credit lending risk. By using H2O Driverless AI with expansive data sets, underwrite.ai builds and trains models that return an automated credit decision in milliseconds, radically outperforming traditional scorecards in both consumer and small business lending.

"underwrite.ai is using automated machine learning to transform how credit is assessed and is improving outcomes for lenders and borrowers alike," said Sri Ambati, CEO and founder, H2O.ai. "We are excited that with Driverless AI, underwrite.ai is not only using more factors and producing fast accurate scores but also relying on explainable machine learning they can trust.  H2O.ai's innovation is leading the democratization of credit for people around the world."

"Using thousands of data points instead of the handful used by traditional credit scoring services, underwrite.ai generates a much more reliable lending risk profile for creditors to use when evaluating a credit or loan application," explains Marc Stein, Founder and CEO, underwrite.ai. "By using Driverless AI to build and deploy our nonlinear models, we can provide lenders a fully automated process that delivers a highly reliable credit decision with a fully compliant explanation for the decision in less than half a millisecond. H2O and Driverless AI play an integral role in our platform, speeding up the development and deployment of models exponentially."

Improving Financial Outcomes 
By building models unlike anything used by traditional credit scoring services, lenders can build a broader and more secure portfolio. Underwrite.ai applies advances in AI derived from genomics and particle physics to provide lenders with nonlinear, dynamic models of credit risk which drastically improve payment default rates. The use of nonlinear algorithmic modeling enables underwrite.ai to effectively determine lending risk in situations with limited or non-existent credit bureau utilization in North America and throughout the world.

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DEC
03
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Artprice by ArtMarket.com: Hong Kong - Capital of the New Hi-Lite Movement - Remains Unperturbed!

Artprice by ArtMarket.com: Hong Kong - Capital of the New Hi-Lite Movement - Remains Unperturbed!

PARIS, Dec. 3, 2019 /PRNewswire/ -- Hong Kong's art market has posted excellent auction results. Last Saturday, 23 November, Christie's finished its session of 20th Century & Contemporary Art Evening Sale with a total of more than $136 million. In 2018, the same session totaled just $52 million.


Liu Ye (1964) - Little mermaid, 2004 - left, Takashi Murakami (1962) - Dazzling Circus, 2013 - center, Mr. (1969) – Don’t go anywhere, 2006 - right

For the time being, the Art Basel fair is therefore still on for March 2020. With these latest results, Hong Kong has shown that it is still the world's leading marketplace for many of the finest Asian signatures of 20th century art. However, it also proved capital for new movement that has become essential to understanding the evolution of today's Art Market: Hi-Lite.

thierry Ehrmann, Artprice founder and CEO of ArtMarket.com: "Hong Kong is a bit like Silicon Valley: a small corner of the world on which all eyes are fixed! At one and the same time, Alibaba has accomplished the world's biggest IPO of the year, and a series of new records have been hammered in its auction rooms. The Hong Kong art market is promoting what will perhaps be the first major art movement of the 21st century: an art advocating greater frivolity in an uninhibitedly kitsch manner, which Christie's has baptised Hi-Lite."

Hi-Lite: the first major artistic movement of the 21st century?

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DEC
02
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Crown of world's most popular DApp in close sight as Sylo hits 100k users

AUCKLAND, New Zealand, Dec. 2, 2019 /PRNewswire/ -- Just two months after its release into app stores, the Sylo Smart Wallet app has surpassed 100,000 downloads.

A meteoric rise in popularity that's unprecedented in the decentralised realm, it's a clear affirmation that the global market wants what the New Zealand-based technology studio has to offer.

Released publicly for less than a quarter, the Sylo Smart Wallet already has a user-base spread across more than 40 countries.

"We've seen rapid adoption across a wide range of regions and interest groups already which is great validation for the hard work our teams have been putting in to bring Sylo to life," says Dorian Johannink, Sylo Co-Founder and Business Director.

A world-first in itself, the Smart Wallet is a term coined by the firm's designers to describe their creation, which savvily combines a digital asset wallet with a next generation private messenger.

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DEC
02
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24 Exchange, a New Multi-Asset Class OTC Trading Platform, Goes Live

FX Trading Now Available, with Low Trading Costs and No Market Data Fees

HAMILTON, Bermuda, Dec. 2, 2019 /PRNewswire/ -- 24 Exchange, a new offshore, multi-asset class, over-the-counter (OTC) platform, announced today that it is live and open for trading. The first product available for trading is Foreign Exchange (FX) Non-Deliverable Forwards (NDFs). 24 Exchange enables institutional market participants to anonymously exchange FX NDFs at the lowest possible transaction cost, creating a much-needed additional liquidity pool for the market.

24 Exchange significantly reduces the costs of exchanging financial assets for its participants and eliminates market data fees. The company delivers 24-hour access to liquidity for customers. In addition to offering full-day market access to a range of asset classes, 24 Exchange uses cutting edge technology to reduce trading fees to rates far lower than those charged by the major legacy exchanges.   

Dmitri Galinov, CEO and founder of 24 Exchange, said: "24 Exchange is a robust alternative to the major exchanges that delivers an over-the-counter solution at significantly reduced prices with improved functionality. Unlike the major legacy exchanges, our new platform will offer 24-hour trading capabilities for an unmatched range of asset classes. In the interconnected world of today, it is essential to provide a low-cost market that is available 24 hours for participants to transact."

In NDFs, through its partnership with Standard Chartered Bank, 24 Exchange offers a central prime broker clearing model that facilitates anonymity and lower margin costs for participants. 24Exchange's liquidity is provided by a number of the largest global FX participants, enabling streaming NDF liquidity on standard contracts. The platform also facilitates broken dates NDF trading via request-for-stream (RFS) functionality.

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DEC
02
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Jianpu Technology Inc. to Report Third Quarter 2019 Financial Results on Monday, December 9, 2019

BEIJING, Dec. 2, 2019 /PRNewswire/ -- Jianpu Technology Inc. ("Jianpu," or the "Company") (NYSE: JT), a leading independent open platform for discovery and recommendation of financial products in China, today announced that it will report its third quarter 2019 unaudited financial results, on Monday, December 9, 2019, before the open of U.S. markets.

The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on December 9, 2019 (9:00 PM Beijing/Hong Kong time on December 9, 2019).

Dial-in details for the earnings conference call are as follows:

United States (toll free):

1-888-346-8982

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DEC
02
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VHCEx Unveils New Copy Trader Features to Close the Crypto Profit Gap

VHCEx Unveils New Copy Trader Features to Close the Crypto Profit Gap

MANILA, Philippines, Dec. 2, 2019 /PRNewswire/ -- In cryptocurrency trading, only few investors make a profit mainly due to the lack of knowledge about this type of investment, according to a research by IW Capital. To help the investors, a Philippine-based digital asset exchange, VHCEx, has found a solution that allows interested investors or even new users to learn more about cryptocurrency and trade like a professional.


Jenn Lim, CEO & Founder of VHCEx

This programme is a new feature on VHCEx digital asset exchange platform. Aptly called VHCEx Mirror Trades, this copy trading feature allows users to follow professional traders' cryptocurrency trading activities, such as buying and selling bitcoin or other digital assets listed in the exchange, analyzing new cryptocurrency trend, and predicting the price of the digital assets.

"Trading crypto for profit is not easy, particularly for a new player. Through VHCEx Mirror Trades, users can copy the professional traders they like and earn a profit to the crypto holdings, anytime they make a trade. The VHCEx platform is a simplified trading experience of the cryptocurrency market place and VHCEx Mirror is a strategic innovative add-on feature to assist particularly the new investors or users to emulate the trader's smart investment moves as well as learning the investing approach from the experience traders," said Jenn Lim, CEO of VHCEx.

The copy trading uses a process known as crowdsourcing. The investors can choose from a group of lead traders to follow, based on the traders' investment moves and profile which is available on the platform. "We operate a transparent financial process, in which we allow users to take a peek at the leaders' profiles, portfolios, and strategies. Users can just simply hit copy button after they make their decision and automatically follow their chosen trader's every move," added Jenn Lim

For the traders, VHCEx has set out certain requirements for them before they can join this programme. They must be professional investors with a positive investment growth record from a reliable trading platform for at least two months. Currently, the platform has a few lead traders to cater different needs of its investors and is looking to recruit more.

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DEC
02
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Yintech Reports Third Quarter 2019 Unaudited Financial Results

SHANGHAI, Dec. 2, 2019 /PRNewswire/ -- Yintech Investment Holdings Limited (NASDAQ: YIN) ("Yintech" or the "Company"), a leading provider of investment and trading services for individual investors in China, today announced its unaudited financial results for the third quarter of 2019.

Third Quarter 2019 Financial Highlights


For the quarter ended

(In RMB million, except
otherwise specified)

September
30, 2018

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DEC
02
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OneConnect conducted POV workshop on National Digital Trade Platform for Thailand's Joint Standing Committee on Commerce, Industry and Banking

SHENZHEN, China, Dec. 2, 2019 /PRNewswire/ -- OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of Ping An Group, recently conducted a Proof-of-Value workshop for the National Digital Trade Platform (NDTP) Working Group from the Joint Standing Committee on Commerce, Industry and Banking of Thailand (JSCCIB).

JSCCIB, comprising Thai Chamber of Commerce, Board of Trade, Federation of Thai Industries and Thai Bankers Association, has been identified by the cabinet of the government of Thailand as one of the parties that will jointly work with the Office of the Public Sector Development Commission to set up the NDTP. The NDTP will be a central system linking international digital trade data that comply with other countries.

More than 25 leaders and representatives of the Thailand Banking Association and Federation of Thai Industries attended the workshop. During the workshop, OneConnect showcased a system prototype demonstrating how its advanced blockchain and cryptography technologies enable information exchange while ensuring commercial data privacy within a digital trade platform. OneConnect illustrated how trade processes are digitized and simplified through data and document threading, and how trade irregularities can be detected and risks reduced through data cross verification.

OneConnect also shared its experience and capability in developing and operating similar platforms in Asia, such as eTrade Connect, a blockchain trade finance platform OneConnect built for the Hong Kong Monetary Authority. The platform is the world's first cross-border DLT trade finance platform led by a government authority. Launched in September 2018, 12 major banks on the platform, to date, enjoy paperless e-purchase orders, e-invoice, smart contracts, and zero-knowledge proof verifications which prevents double financing and reduces risks and manual errors with on-chain credit record and dynamic credit rating update.

OneConnect also built China's first cross-border trade service blockchain for Tianjin Port. The blockchain platform standardizes cross-border trade, legal compliance and technical standards, thereby enhancing customs efficiency and supply chain management capabilities, while fostering a healthy ecosystem among customs, banks and regulators.

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DEC
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The Global Sharing Economy Forum and GLASE Founding Ceremony advocate "dual reduction" vision

The Global Sharing Economy Forum and GLASE Founding Ceremony advocate "dual reduction" vision

VIENNA, Dec. 2, 2019 /PRNewswire/ -- On November 29, the Global Sharing Economy Forum & the Global Alliance of Sharing Economy (GLASE) Founding Ceremony were successfully held in Austrian capital of Vienna. In a speech, Mr. Kevin Rudd said: "As rapid technological change is challenging the growth of traditional industries, we believe that every individual and organization has value to offer. We are committed to providing a sharing platform for businesses from diverse backgrounds to share resources, opportunities and successes. Hand-in-hand, we aspire to create a sustainable new economic model that enables every member of the business community to thrive for many years to come."

Junqing Lu (Executive Chairman of GLASE), Jun Ge (Secretary-General of GLASE), Boris Tadić (Standing Chairman of GLASE, former President of Serbia), Werner Faymann (former Prime Minister of Austria), George Papandreou (former Prime Minister of Greece), José María Figueres Olsen (former President of Costa Rica, the first CEO of World Economy Forum), Enrico Letta (Co-Chairman of GLASE, former Italian Prime Minister), Paulo Sacadura Cabral Portas (Vice-President of GLASE, former Portuguese Deputy Prime Minister), John Russell Baird (former Canadian Foreign Minister), Max Baucus (former U.S. Ambassador to China), 26 policital leaders including, Wei Han (Co-President of ToJoy), Xiangnong Cao (Senior Vice President of ToJoy), and Jennifer Lu (Charity Ambassador of GLASE) attended the forum.

Fengyun Lei, the Counsellor of the Chinese Embassy in Austria, Doris Bures, the Second Speaker of the Austrian National Assembly, and Peter Hanker, the Minister of Finance and Economy of the City of Vienna, also attended the event.

In addition, Nikolaus Schultze (Global Policy Director of the International Chamber of Commerce), Ming Jiang (President of China Business Association), Li Xiaojun, Vice President of China Industrial Development Association of national development and Reform Commission, Peter Vesterbacka (founder of Angry Birds and co-founder of  and MobileMonday), William (Bill) Le Voir-Barry (Chief Technology Officer of IBM Video Games), April Rinne (Global Youth Leader of World Economic Forum) also attended the conference. More than 250 people including celebrities and entrepreneurs from various fields around the world were in attendance.


GLASE officially established

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© 2009 - 2019 ChatPips. All Rights Reserved. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.