Blockchain

A Chain Is Born – The Genesis Block of Roxe Chain, The First Instant Global Clearing and Settlement Chain

Roxe Chain

On May 22nd, Apifiny Inc. announced the genesis block of Roxe Chain, a global clearing and settlement blockchain, on the 10th anniversary of the first Bitcoin Pizza Festival.

What is the Genesis Block? At 02:15:05 on January 4, 2009, Satoshi Nakamoto mined the first block in the blockchain, known as Genesis, on a small server in Helsingor, Finland. Even ten years later, as new blocks are added to the chain, they can all be traced back to the Genesis block.

Satoshi Nakamoto’s vision for bitcoin was to “create a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” However, as more blockchain projects launched, and new digital asset exchanges launched, the trading market has become highly fragmented. 

In 2020, under the influence of COVID-19, the global market has fluctuated. US stock market’s “circuit breakers” activated four times in March 2020, and the IMF forecasts that the global economy will contract by 3% this year — the worst recession since the Great Depression.  In the context of the epidemic, economic contraction, and global travel restrictions, the world urgently needs a unified global value network — one that transfers value as instantly as the Internet moves information. Serving as our inspiration, the first Block includes the following message: “2020/5/22, COVID-19 has given rise to worldwide border closures, economic contraction, and roadblocks to globalization.”  This new blockchain will serve as the value transfer channel for a new value network.

“The Genesis block of Roxe Chain was born on May 22, 2020, a significant date in history. Ten years ago today, Bitcoin transferred value for the first time. In 2020, exactly ten years later, the Roxe Chain’s Genesis Block was born,” said  Haohan Xu, CEO of Apifiny

May 22 is called “Bitcoin Pizza Day” to commemorate the first circulation of Bitcoin as a means of payment. On May 22nd, 2010, Laszlo Hanyecz, a young programmer, bought two pizzas with 10,000 bitcoins. It was the first time that Bitcoin was used in real-world commerce. The purchase of two pizzas gave Bitcoin measurable value for the first time.

Roxe Chain is creating a value circulation system and financial infrastructure designed to connect banks, trading platforms, and their customers. By connecting isolated islands of value, banks and trading platforms can achieve “real-time” clearing and settlement so value can move freely, and more traders achieve peer-to-peer value transfer through Roxe Chain, improving financial efficiency, reducing technology and transaction costs, and achieving near real-time settlement.

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