Tong Shang International Commercial Bank (Gambia) To Use Eagle Coin For Trade Settlement

Bitcoin and other cryptocurrencies are hot, trending topics today.

What is Cryptocurrency ?

Cryptocurrency is decentralized digital money, based on blockchain technology. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money that is carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database that describe specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. You store your cryptocurrency in a digital wallet.

Tong Shang International Commercial Bank (Gambia) to use Eagle Coin for trade settlement.

Tong Shang International Commercial Bank (Gambia) plans to using Eagle Coin to settle cross-border trades, one of the biggest developments yet in the effort to make use of nascent blockchain technology.

A number of blockchain projects are moving out of the experimental phase and into production, a sign that the technology is becoming more integrated in the global financial infrastructure.

The Eagle Coin would function both as a payment device and messenger that carries all the information required to complete a trade, potentially cutting down on a transaction’s time and cost. Processing a trade can involve multiple parties, especially includes a cross-border trip.

Tong Shang International Commercial Bank, Gambia will promote local financial policy reform and innovation, promote Gambia’s docking overseas economic opportunities and strengthen foreign investment development. Support local businesses in the areas of infrastructure, energy, environmental protection, education and health through economic strategies, loans, guarantees, debt issuance and technical assistance. Improve the local financial environment, innovate financial products to connect with international financial markets to improve local people’s financial knowledge.

Cryptocurrency transactions are borderless, blockchain technology to revolutionize traditional banking.

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