Bitpush Weekly APCA Overview: First blockchain-based metro ticket receipt; Huobi launched Huobi Prime; Ping An's innovative progress

【Hangzhou launched the first blockchain-based metro ticket receipt】

Hangzhou Metro announced on the 22nd that by collaborating with Alipay they have launched electronic ticket receipts based on blockchain technology. Hangzhou citizens and foreign tourists can complete the whole process of payment, billing and reimbursement through the Hangzhou Metro APP and Alipay. This is the first time that Alipay has been able to apply blockchain technology to travel, and it is another innovative progress of the “Smart Travel” full-process service created by Hangzhou Metro.

【Qiu Jimin: Arbitrage strategy has its limits】

Qiu Jimin, CEO of Gravitational Wave G-Wave Technology Co., Ltd., explained the digital asset options in detail on the theme of “How Option Market Makers Create Value for Exchanges and Users”. He pointed out that the quantitative comparison between digital currency quantification and traditional financial quantification is different in strategy. Among the digital currency quantification, arbitrage strategy is more often in use. Under arbitrage strategy, statistical arbitrage, inter-temporal arbitrage, term arbitrage and triangular arbitrage are all part of the arbitrage process.

He said that the arbitrage feature is low retracement. Because the market is not deep enough, and the emergence of a large number of quantitative teams in the second half of last year, the space for arbitrage has dropped significantly. Although its risk is low, its profitability has dropped sharply, especially while the market depth is insufficient, the capacity is extremely limited.

【Huobi launched token listing channel Huobi Prime】

Huobi Global has officially launched “Huobi Prime” selective token listing channel on March 26.

“Huobi Prime” aims to explore potential blockchain applications, gather industry resources and promote the development of blockchain ecosystem. With Huobi’s five-year long industry experiences as well as recent two-year’s digital asset practices, after research over hundreds of projects, Huobi has established a brand new blockchain project evaluation model “SMART-Chain 2.0”, and will review and select the best digital assets to be listed on our exchange based on such model.

【Ping An Technology collaborated with blockchain-baed AI tech startup】

Ping An Technology and SingularityNET have reached the intention to collaborate in the field of Artificial Intelligence, possible future directions for collaboration include (but are not limited to) OCR and model training. At the beginning of the collaboration, SingularityNET and Ping An will focus on three main areas: Optical Character Recognition (OCR), Computer Vision(CV) and model training, where SingularityNET’s ecosystem could be applied for commercial purposes.

Renee Wang

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