Copy link
Increase text size
Decrease text size
Link copied

Smartphone retailer acquires stake in U.S.-based Monsoon Blockchain

Monsoon Blockchain Homepage Screenshot (TokenPost)

Tue, 14 Jan 2020, 10:30 am UTC

Dixintong Technology Group seems to have opened its doors to blockchain technology.

D.Phone’s subsidiary company Dixintong Technology Group has acquired a minority stake of U.S.-based blockchain company, Monsoon Blockchain, CoinDesk reported. According to sources who are familiar with the deal, the stake was sold at a nine-digit valuation and the agreement was signed on Jan. 7.

Dixintong not only sells mobile devices but also telecommunication services including data plans as a licensed virtual service operator. Meanwhile, Monsoon Blockchain primarily serves enterprise clients.

The alliance between the two companies comes after China is encouraging enterprises to adopt blockchain and emerging technologies. Many tech companies have explored blockchain technologies after Chinese President Jinping Xi encouraged the country to “seize opportunities” in the space. In fact, the stock prices for businesses related to the new technology have increased and Monsoon’s CEO Donald Basile can attest to this.

“When you have that level of endorsement from the government, everything moves much faster,” Basile said.

He suggested that Monsoon could assign a unique identity to each smartphone user on its blockchain platform to enable them to enjoy cheaper data services. The users’ data will be processed and stored in the network for the companies to analyze their business decision. In that way, they can offer each user the best deal possible.

Monsoon’s deal with Dixintong could potentially boost their consumers. The partnership will also give them access to billions of users in China.

“With the scale of people in China, you can have 20 million users in no time, so that’s a huge amount of computing and analytics needed to be harnessed,” he said.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.05.04 04:16:10
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all
  • 0
  • ·
  • 0
  • Moses
  • 2020.05.04 04:15:10
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $9,527.59 (-0.59%)
  • Ethereum (ETH) $234.26 (-1.60%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $248.04 (+1.73%)
  • Bitcoin SV (BSV) $195.62 (+0.34%)
  • Bitcoin (BTC) $9,527.59 (-0.59%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft