THE DEVELOPMENT OF A GLOBAL RESERVE CURRENCY BASED ON DISTRIBUTED LEDGER TECHNOLOGY. PLANS TO REPLACE THE US DOLLAR FOR INTERNATIONAL TRADE TRANSACTIONS.
Online PR News – 03-January-2018 – 2nd January - Europe – Black Box Partners (BBP) announces its intention to lead the development of a global reserve cryptocurrency to transform international trade finance and replace outdated concepts such as the petrodollar. The project aims to provide an alternative to today’s decaying financial system through the creation of a new cryptocurrency hosted on state of the art distributed ledger technology.
BBP plans center on ensuring the new currency is capable of becoming the de facto medium of exchange for international trade across all sectors worldwide. Ultimately the goal is removal of reliance on the current fiat system, putting an end to single state hegemony within international finance. To this end the project will be collaborating with a wide range of partners from technical and finance specialists through to critical resource exporters, large multinationals and sovereign states.
The project also intends to pioneer the benefits of a de-centralized exchange to handle the fiat/crypto interface during the adoption phase. Goals include rendering existing inefficient and costly trade finance instruments obsolete through the introduction of competing products to sit alongside the new currency, also integrating key logistics functions to establish acceptance across the global supply chain. Black Box Partners expects that the combination of new financing and associated services will result in significant time and cost savings and improvements in the overall efficiency of international trade finance and logistics.
The project is assembling a world class team of developers ensuring state of the art solutions to all aspects of the supporting ledger and creating a payments system with the speed, security and scalability required to handle transactions from high volume micro-payments through to large cross border transactions.
Black Box Partners is currently working towards an ICO for the project in the middle of 2018 and to this end is inviting additional developers and specialist partners to augment its existing team. Release of the project’s white paper is anticipated during February 2018.
ABOUT BLACK BOX PARTNERS
Black Box Partners (BBP) is an international group of developers and strategists with a mandate to create and implement projects based on the fairness and incorruptibility of consensually shared synchronized networks. The group aims to provide solutions to the larger issues of entrenched global imbalance across the political, economic and financial landscapes. BBP’s mission is that of global problem solver leveraging technology to provide solutions to the largest obvious impediments to the future prosperity and success of the global community.