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EBC Foundation, the blockchain startup behind the cryptocurrency set to improve the inconvenient tax refund process for travellers, has announced the proposed launch of a new cryptocurrency exchange. The exchange is a reflection of the foundation’s mission to ease user experience through FinTech innovations and projects on the blockchain.
KRPEX, A New Crypto Exchange
Initially planned to launch their exchange, KRPEX, in Korea, EBC Foundation team had to relocate due to the uncertainty surrounding the country’s regulatory policies concerning cryptocurrencies and digital assets in Korea.
Japan, on the other hand, is the global leader in cryptocurrency investment and exchange, providing clear-cut guidelines for service exchange. The Japanese Yen is the strongest Bitcoin trading currency worldwide, topping other fiat currencies and accounting for 56.2% of the total trading volume of Bitcoin against fiat.
After officially introducing legislation to recognize cryptocurrency as legal tender in April 2017, Japan has become the leading market for digital assets.
Jason Kim, CEO of EBC Foundation said,
“Japan is, without a doubt, considered the global industry leader when it comes to cryptocurrency. We expect the listing of EBCoin on Japanese exchanges to bring us much closer to our goal of making EBC one of the major cryptocurrencies in the market.”
Seizing this opportunity, the team has set their sights on Japan as the preferred location. Negotiations are well underway to list their EBCoin currency (Symbol: EBC) on local Japanese exchanges including BitFlyer, GMO and Zaif, after the conclusion of their token sale event on February 13th.
EBCoin, the Tax Refund Currency for Convenience
EBCoin is set to reduce the excessive cost associated with the traditional refund system and eliminate the opacity that often shrouds the process through blockchain technology. EBCoin tokens, which can be withdrawn at any ATM airport kiosk in their local currency, will offer travellers 100% refund on the amount owned.
EBCoin aims to revolutionize the $60 billion duty free/tourism tax refund market through its ERC20 compatible token by giving consumers instant refunds that can be used as digital currency. The platform’s complete e-Wallet solution will usher in new levels of transparency, accountability, and auditability for tax authorities.
Additional benefits that EBCoin offers and include benefits for tax officials, to seamlessly record all information to the blockchain for greater efficiencies and frictionless accountability. Retailers will enjoy significantly reduced costs associated with cross-border purchases.
To learn more visit the Website: https://www.ebcoin.io
Check out the White Paper: https://www.ebcoin.io/docs/EBCoin_Whitepaper_EN.pdf
Chat on Telegram: https://t.me/EBCoinGlobal
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