Connect with us

Cryptocurrency

Central Retail Corp is evaluating its cryptocurrency that could be utilized by customers soon

Published

on

  • The famous outlet store is using employees to ensure C-Coin is on top of its game.
  • The digital currency is already showing positive signs and could be used in due time.

Central Retail Corp., a leading shopping store covering over 50 provinces in Thailand, has established a digital currency, C-Coin, for trial. The company’s Innovation Team developed the crypto coin over one year ago.

At the initial stages of development, you could redeem coins at vending machines. However, the program changed to cater to their growing business.

The store is issuing blockchain-based currency to over 70,000 staff members in their various stores. The crypto will not be part of their salary but a bonus.

Employees can use the C-Coin to shop from the different stores instead of cash. The department store chain is trialing the crypto coin to establish its performance before going to the general public.

Advertisement

Central Retail Corp running the last stages of the crypto

The company that operates over 2000 stores hopes its customers can use it to make payments soon. The sandbox phase will be finished soon. The department store has other outlets outside Thailand. There are more than 100 stores in Vietnam and about 10 in Italy.

The chief of innovation at Central Retail, Kowin Kulruchakorn, said they could not reveal details of the coin distribution. He noted that as time progresses, they will know whether to list it for trading.

C-Coin is still a work in progress, and the company will reveal more details soon. The leading department store in Thailand is happy with its progress. Integrating crypto with its employees has given them hopes for its success.

Advertisement

Modern financial services

Other companies in the country are interested in developing and adopting cryptocurrency. The Bank of Thailand (BOT) could also launch a Retail Central Bank Digital Currency. They believe that there is a new generation of financial services, and they would like to embrace technological advancements.

The bank hopes a digital baht will change the efficiency of services in the financial sector. They hope that the currency will help people to increase their access to banking services.

The Chirathivat family runs Central Retail Corp. They retain more than 60% of the company. 

Advertisement

The Central Group closely-held runs its malls under the Central, Central Embassy brands and specialty stores.

The community is the center of the Central Retail innovations. That’s why the company is committed to pioneering modern technology and experiences to cater to diverse needs.

With C-Coin, the company plans to evolve its customers’ lifestyle and uplift the communities in general.

Advertisement

News Source

Cryptocurrency

Deadline for withdrawing from a Chinese cryptocurrency broker that will close in Brazil ends today

Published

on

Today, November 30th, is the last day that Coinbene’s clients can withdraw their funds from the platform that will permanently cease operating in Brazil as of December 1st.

The Chinese brokerage firm decided to close operations in the country in October this year, after attracting Brazilian clients to its trading platform for about four years.

The decision to close its doors in Brazil was justified by a series of operational restrictions that the company began to suffer from the increase in the Chinese government’s ban on the crypto market. As it is a Chinese exchange, operations on the global platform depended on the central in the Asian country.

Advertisement

On that occasion, an employee of the brokerage provided the Bitcoin Portal that the operational problems at Coinbene were not limited to Brazil and that the company would soon close its operations in the rest of the world.

Later, the information was confirmed by Coinbene’s official channels when the brokerage firm announced the permanent closure of its services in all jurisdictions in which it operated until then.

Also in the October announcement focused on the Brazilian public, the company had set today, the last day of November, as the deadline for all customers to withdraw the balance that was still stored on the platform.

Advertisement

Although November is a day off, at the time the Coinbene team warned users: “After November 31, there will be no customer service staff to accept the withdrawal request. Users need to bear the property losses caused by not withdrawing money in time”.

The process of withdrawing funds, however, may not be so simple as the broker’s website is having problems in the user login area.

complicated withdrawal

In Coinbene’s official Telegram group, focused on Latin American customers, company support confirmed that the problem at login time: “Due to the maintenance of CoinBene’s global server, the page www.coinbene.com/br/ is presenting a problem that is making login impossible. We are very sorry for that.”

Advertisement

To be able to enter the platform, users are required to fill out a form with their personal information such as CPF, address and date of birth and send a photo of their identity card or CNH. In addition, users must also submit a selfie holding their official document along with a paper written “CoinBene” and the date of request.

Only after completing all these steps, the user can have access to a customer service service dedicated to granting withdrawals.

Since the exchange confirmed the departure from Brazil, at least 15 users have complained on Reclame Aqui about the difficulty of withdrawing funds from the platform in this final stage.

Advertisement

A client from São Paulo, for example, wrote last Saturday (27) that he had been trying since the end of October to withdraw the balance in bitcoin he had left standing at Coinbebe for three years, but without success.

“I followed the guidelines, sending the necessary documents and selfie to be able to withdraw on 11/30, but as reported more than once to you (10/30, 11/06, 11/09), no matter how authenticator, pin and e-mail code are correct, I can’t transfer and my questions are not answered”.

He reports that he tried the broker’s international support, but he also had no return. “I’m going to claim my rights in other ways since I’m not getting the support I need from the company,” he concluded.

Advertisement

Another user from Barueri (SP) claimed the same problem, saying that he has more than R$ 10 thousand in cryptocurrencies stuck on the platform and that even after sending more than 50 withdrawal requests, he has not been answered.

The report got in touch with Coinbene representatives in Brazil, but as of this writing, there has been no response.

Advertisement
Continue Reading

Cryptocurrency

CBDC: Japan urged to intensify its development

Published

on

  • Japan urged to intensify the development of its CBDC
  • Bank of Japan intensifies research
  • Government officials continue to mount pressure on BOJ

Countries across the world are presently ramping up preparations to create their respective central bank-backed digital currency. Although some countries have launched their CBDC, China still leads in top countries hoping to list the currency. With China and other countries still in the lead, Japan has been urged to intensify its approach towards making its CBDC. According to the report, politicians have urged the finance officers to make haste and debut its digital currency like most countries.

BOJ intensifies research into its CBDC

Japan has been integral in the adoption of digital assets over the years, and the politicians do not want to lose this status. According to many reports, China is still testing as its CBDC is continually being tested across the country. Recently, it inked several partnerships with brands to intensify the testing in major cities. In its race to outpace China, Japan has bolstered its financial officer, which is tasked with researching every aspect concerning digital currencies. Despite its lengthy move to develop its CBDC, the Bank of Japan has preferred to attack it with caution. But with the increased pressure from the top echelons in the country, the bank might be forced to consider a new and aggressive approach.

Continue Reading

Metaverse

WinNow’s cryptocurrency has completed its mainnet launch and looks at a utopian metaverse

Published

on

ENEVA, SWISS. It just seems 2021 is the year of the metaverse and more and more companies are positioning themselves to be present in what appears to be a trillion dollar business.

On November 16, a group of European developers and cryptocurrency experts launched WinNow ($WNNW) to act as a DAO token in the Wonniw metaverse, a P2E game with real-world dynamics able to generate yield through the choices of its citizens.

A DAO token is a modern form of democratic representation, the participants in the game will therefore be able, through the WinNow token, to take an active part in the decisions on the dynamics of functioning of the metaverse.

Advertisement

According to reports from the team’s Medium, the metaverse Wonniw has all the credentials to be able to try to replicate a utopian reality, in which all citizens and mayors elected by the DAO are equally incentivized towards a common goal called “sustainability”.

The development of the metaverse is in the alpha phase, team has already signed an agreement with a European software house, Falcon Interactive, and the launch of a first playable version is currently scheduled for March 31, 2022.

Website: https://winnow.me

Advertisement

Metaverse: https://wonniw.com

Continue Reading