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Huobi: 98% Digital Assets are Stored in A Cold Wallet, 2,000 BTC Safety Provisions are Prepared

June 6, Huobi Group, the world’s leading digital assets service provider, announced its global strategic plan on the 2018 Huobi Branding Global Press Conference in Singapore.huobiETF_hMIJRGf.original

The industrial layout of Huobi is based on core of blockchain foundation services. The group plans to build a comprehensive eco-industrial chain includes technical research, industrial research, trading platform, and industrial investments.

Cai Kailong, chief strategy officer of Huobi Group stated that, the company has established compliance service teams in Singapore, US, Japan, South Korea, Hong Kong, Thailand, and the new exchange in Australia will be launched by the end of June.

Wu Guanli, the general manager of Huobi Pro indicated that, 98% of Huobi Pro’s digital assets are stored in a multi-signatured cold wallet and another 2% are stored in a hot wallet. No one is able to fully access to the private keys of the cold and hot wallets including Huobi’s staff. Huobi Pro has also prepared 20,000 bitcoins for safety provisions as a counter-measure to emergency.

The company also plans to invest 30 million of its Huobi Tokens (HT), currently worth around $166 million USD, to build a public blockchain. With the initiative, the company is aiming to establish a decentralized autonomous organization(DAO) that would provide a trustworthy and autonomous platform for value exchange, fund-raising, securitization, and more. Huobi will also allocate a fraction of its yearly revenue to fund the creation of their public chain.

Huo li, vice president of Huobi global business, disclosed that Huobi Capital has invested in various fields including foundation protocol, decentralized application and incentive digital assets, of which investments on infrastructure projectsaccounted for 70% of the total amount.

The company eyes upstream and downstream blockchain industrial projects, including but not limited to exchanges, project incubators, media, digital wallets, data services, technological research, education, financial products, and digital assets.

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