BOX, the startup behind the non-custodial crypto wallet for institutional investment, announced their new BOX Ecosystem on November 30th at the launch event hosted at the Shanghai Film Plaza. With a full house attendance, the institutional wallet provider wowed the audience with the release of their new BOX Ecosystem Model, powered by the combination of BoxVault, WalletMate, and Bolaxy, an Enterprise-grade multi-chain blockchain made for supply chain finance.
BOX Founder Damo Shang kicked off the event with the launch of “BoxVault”, a new version of the BOX Business Wallet with upgrades like batch transfers and approvals, multi-address management, and an open API for multi-chain usage.
The event was attended by the most important names in tech and finance, such as Yeeli Zheng, China Chief Representative for Nasdaq; Zhiqiang Li, Director of Product Planning at Intel Security PRC; Yao Liu, Director of Blockchain Product at Baidu Cloud all speaking at the event.
Bolaxy will offer a system enabling supply chain finance participants to perform complex transactions that are currently not possible in blockchain due to limitations in transaction throughput and scalability. By using a novel multi-chain blockchain system, Bolaxy combines a main chain ledger and “Union”, it’s child chain, marrying both speed and security under one platform. The blockchain operating system uses a Dual-consensus algorithm based on “Proof-of-Authority”, which promises to be more secure, fairer, and more transparent.
“The financial supply chain is a trillion-dollar market, and the blockchain solution represented by the BOX ecosystem will solve the pain point of high financing costs for SMEs.” Said Yeeli during her talk on the “Blockchain Revolution in Financial Markets”
Zhiqiang Li said, “With BOX as our partner, Intel will be able to provide our customers with the scalability and throughput required for their high-frequency and complex scenarios.”
Yao Liu said, “Baidu Cloud, BOX, and Intel will cooperate to contribute to blockchain commercial expansion, especially in the field of enterprise security.”
BOX CEO Damo wrapped up the event with all strategic partners on stage, together opening the virtual ship bay doors to reveal Bolaxy. Damo concluded the event with his focus on partnerships, “After this official launch of Bolaxy, we will cooperate with others and promote a wide range of blockchain applications”.