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.
  • Bitcoin (BTC) $8,892.62 (+0.18%)
  • Ethereum (ETH) $169.92 (+0.30%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $366.83 (+7.13%)
  • Bitcoin SV (BSV) $265.94 (-12.57%)
  • Bitcoin (BTC) $8,892.62 (+0.18%)
Jan 17, 2020 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto dealer SFOX announces new service for investors and wealth managers
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
Crypto exchange Gemini launches own insurance company "Nakamoto"
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
Huobi joins Blockchain Turkey Platform (BCTR)
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
U.S. lawmakers seek tax exemption for crypto transactions under $200
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.