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Category Archives: Bancor Updates

Bancor Protocol to Power Token Conversion for SIRIN LABS’ Blockchain Smartphone

Bancor partners with SIRIN LABS to accelerate blockchain adoption through first holistic mobile experience on FINNEY phones

January 9, 2017Bancor, the standard for Smart Tokens which are autonomously convertible, is partnering with SIRIN LABS, the creator of the world’s most secure blockchain smartphone, in order to bring the first complete blockchain mobile experience to the market. The Bancor Network conversion widget will come preinstalled on FINNEY devices, allowing any integrated token to be easily convertible for any other token in the network, including ETH, BNT and Sirin’s own SRN, which will also be a Bancor-compliant Smart Token equipped with $1 million in liquidity. This integration will allow users to seamlessly convert between relevant tokens to achieve maximum ease and functionality from their FINNEY blockchain smartphones.

Following the success of Bancor’s BNT token sale, which raised more than $150 million USD in three hours in June, Bancor has deployed its decentralized liquidity network with over 50 tokens announcing planned integrations and over a dozen already active, including WAX, STORM, and others. The Bancor Network Web App and conversion widget will allow FINNEY device owners  to easily convert tokens at mathematically calculated rates directly from their Web3 wallets, without needing to match buyers and sellers of the various tokens in exchanges, as is today’s cumbersome standard. The FINNEY family of devices offers a truly decentralized blockchain experience, and the SRN token powering it will now be easily convertible to and from other popular tokens for maximum user utility.

SIRIN LABS offers the only smartphone in the world that is equipped with a cold storage crypto wallet and is fully secure and safe enough to hold cryptographic coins. FINNEY devices will form an independent blockchain network based on a scalable, lightweight distributed ledger powered by IOTA’s Tangle technology. It will be free of centralized backbones or mining centers and capable of providing fast, fee-less, and secure transactions.

”We share the vision of seeing these important blockchain technologies reaching the long tail of users,” said Guy Benartzi, Co-Founder of Bancor. “Allowing users to easily convert between the tokens of their choice, at low cost, transparent and predictable rates, with no middlemen, is one of the great promises of blockchain. Doing all this from a secure smartphone designed from the ground up for blockchain is the next great frontier for adoption.”

“Our goal is to standardize blockchain technology while maintaining a simple and friendly user experience,” said Moshe Hogeg, Founder and Co-CEO of SIRIN LABS. “Blockchain trade and cross-platform experience is anything but seamless these days. Together with Bancor, and our strategic partners, we are developing a secure open source OS — Sirin OS — to connect between, and allow, token transitions to be completely seamless and feeless to the user, which will speed the mass adoption of the technology.”

About

About Bancor

Bancor Protocol is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “Connector” method to network tokens to each other, enabling formulaic price calculation and continuous liquidity for all compliant tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. For more information, visit the website and read the Bancor Protocol white paper.

About SIRIN LABS

SIRIN LABS, the developer of SOLARIN, an ultra-secure mobile phone – is currently  developing FINNEY™, the first open source blockchain smartphone and all-in-one PC. Backed by significant investment from some of the most respected players at the forefront of new technologies, the company vision is to bridge the gap between the mass market and the blockchain economy by creating a simple to use, feeless, ultra secure standard that will solve the current blockchain pains of security and poor user experience. Learn more at: sirinlabs.com