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Scarlet Labs and RippleLabs reach strategic cooperation

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Scarlet Labs and RippleLabs reach strategic cooperation

December 10
23:55 2018

 

 

The first global distributed big data TK (Tantalum Chain) reached a strategic cooperation with XRP Labs recently. Based on the distributed financial ecology of TK, the two sides will jointly develop investment incubation layout for enterprise and teams in consumer financial sector. Launched in 2007 by the founder of fintech unicorns, ST Labs is UK’s leading fintech corporation.

ST Labs takes Starwin Capital as the investment body, and focuses on investment and incubation of Fintech enterprises in early stages. After 12 years of establishment, the management capital amounts to 10 billion dollar, spreading from consumer finance, blockchain, and artificial intelligence. It incubates and participates in many blockchain projects, such as MGC, SCRY, etc.

ST Labs said on the strategic cooperation, as the whole social credit system is not complete at current stage, the process of establishing trust among partners is slow. Acquiring all kinds of credit information is difficult. It is hard for some medium and small enterprises to obtain credit loans from financial organizations. However, “let the data go on the chain” via blockchain technology, the historic credit data can be searched more conveniently and faster from all aspects, and the cooperation mechanism could be established more quickly.

Banks can also grant credit to companies more safely based on the transaction record. At this stage, so to speak, the financial sector is the best scenario for blockchain to integrate with. In the future blockchain finance will be deeply combined with real economy industry. So I am really looking forward to conducting strategic cooperation with XRPLabs.  

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