The agreement that establishes it was formally signed at Central Hall Westminster on January 9, 2017. The node was delivered by Chinas Puerbank Group and will function from both an operation as well as a technological viewpoint in line with a standardized system for digital currency.
The Chinese group plans to collaborate with selected companies in the UK during the establishment of the node and in an interchange of various forms of assets valued at 5 billion yuan (approx. USD 720 million). Puerbank Group has established a standard and a complete set of operating protocols for a digital currency and built the first large node for the currency in China.
Representatives from the Chinese Embassy in the UK, the UK Research and Development Centre for Chinese Traditional Culture (UKCTC), The Thames Group, Singapore Shipping Group and Central Saint Martins attended the signing ceremony.
At the same time, a node in Californias Silicon Valley was also put in place. The global blueprint of a digital currency backed by a standard has begun its infinite extension from two points connected by a single line. It will be not long before digital assets are quickly converted free of obstacles within a full-functioning infrastructure via a standardized digital currency.
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