Saturday, April 13, 2024

Incore Bank, Crypto Finance Group and Inacta choose Tezos as their preferred blockchain platform for financial products

The collaboration between Incore Bank, Inacta, and Crypto Finance Group to choose Tezos as their priority blockchain network is making headlines in the crypto world. The collaboration seeks to work on the development of digital financial and investment tools that would work under compliance with existing regulations. It would be achieved with the help of the latest developed token, with the standard title DAR 1. These organizations, in collaboration with Tezos, have established a new token standard that allows smart contracts to execute financial operations. These responsibilities include adhering to anti-money laundering legislation, managing administration, and assisting with wealth allocation and management. Apart from releasing the DAR-1 token standard, Crypto Finance Group with Incore Bank announced a new list of services offered. Infrastructural storage, staking, and exchanges for Tez (XTZ), the Tezos blockchain’s indigenous token, are included in these products which promise adherence to regulations.

At the network and access layer, the Tezos platform aims to deliver the security and code consistency required to secure assets along with other highly valued use cases. It would be excellent for the payment systems of banks and other financial institutions. Tezos’ management approach is based on the on-chain ledger. In comparison to Ethereum, it allows updates without affecting or separating the existing service. Hard forks are a big danger in the case of tokenized assets listed on a blockchain. Hard forks can cause chains to divide, leading to instances where tokens with a fixed quantity of circulating subunits coexist across both chains, thereby multiplying the total amount of tokens.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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