A Hong Kong-based exchange takes bets on a project for driverless car protection system
Hong Kong-based OKEx became the first crypto exchange to list the South Korean high tech startup Cube, as was announced on Feb. 28. Cube’s team recently revealed its project that will protect network security designed for driverless cars and autonomous vehicles, by use of Blockchain technology. As OKEx representatives told Cointelegraph, the exchange is listing a new token called AUTO to provide the customers with another option to benefit from their investments.
Wide coverage, elaborate tools
Founded in 2014, OKEx provides several hundred token and futures trading pairs, including fiat-to-token trading. “We are also one of the top digital asset exchanges by trading volume, serving more than 20 mln customers in over 100 countries,” states the exchange’s website.
Being the more trading-focused version of a classic crypto exchange, OKEx is aimed at professional traders, states the Forexbrokerz.com review. OKEx has also built a suite of algorithmic trading tools designed for professional traders.
Today, OKEx provides digital asset based futures with multiple leverage choices. Additional products include a wallet, vault and a block explorer. In order to provide security to its users, OKEx is trading via a web interface and mobile app and adopting GSLB, distributed server clusters and other advanced technologies.
Recently OKEx announced the issuing of a new utility token called OKB. “OKB is a global utility token issued by OK Blockchain. There is no ICO or private fundraising.”
The available supply of OKB is limited to one bln tokens. 60 percent will be given out to customers for community building, as well as through marketing promotions. “We hope to build a sharing community on the Blockchain infrastructure, allowing every user to participate and contribute to the development of our platform,” the announcement text says.
On March 19 OKEx launches a loyalty program with 250 mln OKB as incentives. The program consists of three phases and lasts for five days. OKB/USDT, OKB/ETH and OKB/BTC trading pairs will be available on March 23.
Collaboration with Cube
Cube has developed a Blockchain-based protection system for driverless and autonomous cars. The official ticker for Cube token at OKEx is AUTO.
According to the OKEx announcement, new trading pairs AUTO/BTC, AUTO/ETH, and AUTO/USDT have been available on the exchange since early March 2018, as well as an AUTO withdrawal option. Cube has finished its public crowdsale in February 2018.
On March 5, 2018, Cube signed a contract for four years with Korean Government Agency, says the press release. The startup will be performing a research study on “the safety evaluation technology of the autonomous car” Cube was selected by Transportation Science Technology Development Agency as one of the autonomous car research institutes.
Today an average autonomous car is operated by a digital network; this makes it attractive to hackers and vulnerable to malicious attacks. “Autonomous cars rely heavily on wireless communication techniques, such as vehicle-to-vehicle, navigation route information, GPS and other driving data,” states the website.
Cube solves the security issue by using Blockchain technologies, AI-based deep learning and quantum hash cryptography.
The startup plans to provide an autonomous vehicle security platform to companies. “In future, the $770 bln autonomous automotive market will see Cube as the first user of Blockchain-based security,” says the company’s website.
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Author: Nick Bakursky