SB Capital Management President, Levi Russell, and CEO, Nguyen Van Anh, has announced that the company is well-advanced in its plans to secure and verify transactions through the use of digital currency (cryptocurrency). In a recent announcement the president said, investments totaling some US $3 billion have so far been spent on developing a unique digital currency known as the SB Coin. Like other cryptocurrencies, the SB Coin is supported by a blockchain technology known as the Binance Chain Explorer which allows clients to send and receive money from anywhere across the world in a fast and convenient way.
What is cryptocurrency?
Cryptocurrency is a digital or virtual currency which uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds without the involvement of a middle man or central bank. Cryptocurrencies can be sent directly between two parties through the use of private and public keys. These transfers can be done with minimal processing fees, allowing users to avoid exorbitant fees that are charged by financial institutions.
SB Capital’s SB Coin, allows for greater potentials of revenue due to the significantly low costs associated with financial services. The cryptocurrency can be used for various online transactions such as e-commerce, taxi and hotel bookings, online gaming among a host of other transactions.
What is a blockchain?
Blockchain is a growing list of records, called blocks, that stores transaction data between two parties in an efficient, verifiable and permanent way. The technology used to manage blocks ensures that the data in any given block cannot be altered, which requires consensus of the network majority. In other words, the data structure of blockchains hold transactional records in a secure, transparent and decentralized way. Here at SB Capital, our unique blockchain technology is known as the Binance Chain Explorer which is kept up-to-date and is easily accessible.
What are the benefits of using SB Coin?
As with other cryptocurrencies, one of the primary benefits of using SB Coin is the autonomy it gives to users allowing them to exercise greater levels of control over how they spend their money.
Like other cryptocurrencies, SB Coin users can send and receive payments to or from anyone on the SB Coin network, without requiring any external approval.
- Quick Transactions
Transactions using SB Coin happen very quickly and unlike the traditional banking system which restricts its hours of operation, SB Coin is available for use on a 24/7 basis.
- Secured Transactions
As with other blockchain technologies, Binance Chain which is used to manage SB Coin is secured with a digital signature that proves its authenticity. This makes it extremely difficult or even impossible for fraudulent transactions to take place.
- No Banking Fees Required
SD Coin users are not subject to the traditional banking fees associated with fiat currencies including minimum balance fees, deposit fees and overdraft fees.
- Low Transaction Fees
With no intermediary institutions involved, transactions using SD Coin are kept very low.
- System Integration
One of the benefits of using SB Coin is that the Binance Chain technology is integrated into the broader SB Capital ecosystem. Details on how this is done can be found in the article titled SB Capital Management Announces the SB Coin Project Launch.
At SB Capital, our number one aim is to serve our clients and to help their business grow. With that in mind, we continue to innovate through the use of state-of-the-art technology staying ahead of our competitors and market trends. We will continue to monitor our risks, as we seek to add value while securing the highest rates of return.