White Fox Ventures Opens FinTech Research Laboratory
Announced on June 12, 2017, White Fox Ventures Inc. (WFV), a publicly traded (AWAW) investment banking company, will open a FinTech research laboratory with the intention to study the impact of internet of things, virtual currencies, and WFV's service providing business. According to WFV, the research institute will shift the focus onto the services provided and user needs rather than product development as the fabric of the marketplace's structure adjusts to the pace of digitalization.
WFV said that also in the works is a "smartBank" service backed by executable distributed code contracts centering on Ethereum ERC20 tokens, dubbed "KeY Tokens." Details about the tokens and how they will be used within the "smartBank" have been released in Japan, indicating that it will fit into a trust comprising of bitcoin and Gold – assets which, according to WFV, complement one another.
WFV stated that it would also like to "achieve a smart society with transparency and openness available for everyone, by changing the old system in the current banking and credit system, financing business and so on."