BitCherry deeply deploys the Middle East market and joins hands with UPEX to help the transformation of the oil economy

On May 27, 2020 (Singapore time), the distributed commercial public chain BitCherry announced a strategic cooperation with the digital currency trading platform UPEX. Its project token BCHC is officially listed on UPEX, and BCHC/USDT will be opened at 18:00 on May 28. trading pair.

UPEX is the largest digital currency trading platform in the Middle East. It has a legal license issued by the Bahrain government. Under the supervision of the local central bank, it supports the legal entry and exit of U.S. dollars, supports local currencies such as Saudi Arabia, Bahrain, and the United Arab Emirates, and supports multi-national legal currencies and multiple digital currencies. Spot trading services, with an average daily trading volume of more than 300 million US dollars.

After emerging in the United States, Indonesia, Dubai, Turkey, Vietnam and other places, BitCherry chose the Middle East as the next target of its global strategy.

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The Middle East in Transformation: A Big Push for Blockchain

The Middle East is world-famous for its rich oil reserves, and the per capita GDP of the six Gulf countries has long crushed the data of most countries in the world. But it is precisely because of the instability of oil prices that the economic system is fragile, and the Middle East has to enter the stage of economic transformation. The vigorous development of blockchain technology is the most important part of the transformation plan.

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Although the development of blockchain started late in the Middle East, fortunately, most countries here attach great importance to blockchain technology, and the relevant policies are also very friendly. The United Arab Emirates, Bahrain and other countries have added blockchain to their important national development strategies, and some projects are even led by the government to accelerate cooperation and development.

At present, there are few local blockchain projects in the Middle East, and most of them are in their infancy. Thanks to the optimistic policy environment and low tax rates, many blockchain projects directly choose to cooperate with the local government. The project areas are mainly finance and service industries. Mainly.

As the world's first scalable blockchain infrastructure based on IPv8 technology to serve distributed businesses, BitCherry proposed Blockchain Plus for the first time technically, aiming to improve the poor scalability of current public chain projects through executable technical means. Insufficient performance, unreasonable governance structure, low security and other issues, focusing on technology leadership, development-friendly, user-friendly and commercial recognition, so that enterprises can complete deployment at the lowest cost, and will also create a convenient environment for more local enterprises The easy-to-use general-purpose blockchain infrastructure and the provision of efficient and convenient blockchain technology solutions are very suitable for the Middle East region, which is in its infancy.

In-depth layout of the Middle East market to accelerate the pace of application of the global blockchain industry

BitCherry founder & CEO Paul is very optimistic about the cooperation with UPEX in deepening the Middle East market. Paul pointed out: "The Middle East has always been famous for its rich oil reserves, and the per capita GDP of the six Gulf countries has long crushed most countries in the world. Data. Moreover, in recent years, the governments of countries in the Middle East have been seeking emerging technologies to optimize the oil economy. Governments and companies in the Middle East have expressed active-ethexc support for the introduction of blockchain technology. It is very beneficial to us in the market. BitCherry, as a technology pioneer in the industry that has already strategically deployed the Middle East market, will join hands with UPEX to jointly promote the development of blockchain technology in the Middle East and expand business application scenarios. The conclusion of this strategic cooperation will also Further accelerate the pace of BitCherry's use of technology to promote the application of the global blockchain industry."

From a global perspective, getting rid of the shackles of centralized business has become an irreversible trend. BitCherry changes the existing economic ecological model through distributed technology, helps traditional enterprises realize blockchain transformation at low cost and high efficiency, and builds a distributed business structure. It is believed that under the blessing of the blockchain business network built by BitCherry, the Middle East The economy will surely complete iteration and transformation and upgrading at the strategic level.

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