SYDNEY--(BUSINESS WIRE)--Unifive, the leading vertical media consulting firm and the host of World Economic Forum’s Global Shaper in June 2017, announced today it will form strategic partnership with Hcash Foundation, the organization behind Australia’s best-known public blockchain project.
On September 28, 2017, The Australian Securities and Investments Commission (ASIC) has released information sheet (INFO 225) that gives guidance about the potential application of the Corporations Act 2001 (Corporations Act) to businesses that are considering raising funds through an initial coin offering (ICO). The issuance of INFO 225 provides a legal path for the ICO tokens to represent relevant financial products under the Corporations Act. These products include interests in managed investment schemes, shares, derivatives, and non-cash payment (NCP) facilities.
This open and embracing policy change by the Australian government towards blockchain technology and digital currency gives a substantial boost to the Australian blockchain community, especially to the Hcash Foundation. Hcash is the first public blockchain established in Australia, also known as HyperCash. It is a digital currency that offers superior capabilities by combining both blockchain and block-less based Directed Acyclic Graph (DAG) systems.
According to Prof. Joseph Liu of Monash University, Hcash has made significant technological advances since the beginning of September 2017. The Hcash main chain has been upgraded, and the development team has successfully released a test codebase to implement a new, mixed consensus program. In its effort to establish a secure, efficient, robust, and reliable public chain to support the digital currency, Hcash will also add post-quantum encryption technology, smart contract, and a powerful wallet protection scheme to the list of its functionalities.
Starting October 3, 2017, Collinstar Capital, a founding member of the Hcash Foundation, will establish a blockchain / cryptocurrency research lab in collaboration with Monash University and Hong Kong Polytechnic University. Any research advancement made in the lab will be first applied to the Hcash project.
“Due to the steady progress of the Hcash project and our constant technological innovations, more and more digital currency projects are issuing their tokens on the Hcash main chain. South Korea's famous pop star Kwon Ji Yong decided to join ENT, the project that uses Hcash. The Australian digital payment project Hyperpay will also be issuing tokens in the Hcash ecosystem,” said Khal Achkar, CTO of Hcash, “Our strategic partnership with Unifive allows the Hcash technical team to create a more forward-looking, transparent and decentralized blockchain system that will give digital businesses social value and trust in a wider range of use cases, truly demonstrating the social impact of our mission.”
About Unifive USA LLC
Unifive USA LLC is the leading vertical media consulting firm, offering innovative go-to-market solutions for Global 2000 enterprises. With unparalleled expertise in cutting-edge technologies and razor-sharp focus on market trends, Unifive USA solves critical business problems with streamlined processes and creative thinking.