HONG KONG, CHINA – Media OutReach – 4 June 2018 – On Thursday, 31 May 2018, Mojo International Limited (the “Group”) celebrated the successful launch of MSEC Project and the kick-off of WAU Gold Mining Project with an official ribbon cutting ceremony in Sheraton Hotel, Hong Kong. At the launch event, remarks were delivered by Hon. Johnson Ibo Tuke, MP, the Minister for Mining of Papua New Guinea and the Management of the Group.
“The MSEC System is a hyperledger-based system. Each token can be used to execute a one-second rental contract for any utilities. The concept can be universally applied to all utilities as time has always been the common denominator of all forms of return.” Mr. Jacky Yau, the co-founder of the Group introduced, “After a selection process, we chose the WAU Gold Mining Project in Papua New Guinea as the first application of MSEC. The WAU project is chosen based on, inter alia, its comparatively low risk nature.”
When being asked how MSEC differentiates itself from other cryptocurrencies, Jacky explained “Unlike most cryptocurrencies where the value comes from the pure trust in the cryptocurrencies and thus their unpredictability and volatility, the value of MSEC tokens come from a definitive smart contract for rental of services for a fixed amount of duration. MSEC also different from other existing time token in that rather than only focusing on the time value of individuals, we venture into the area of corporate entities. Most importantly, the MSEC System encourages businesses to join and utilize the system for obtaining cash flow by sales of time in advance, promoting stability and other expansion or re-financing possibilities. In fact, several businesses have engaged in negotiation for participating in the MSEC System.”
As the Blockchain system consultant of the project, DR. Theo Chan of NPC Plus Limited also had a presentation explaining the blockchain design for the MSEC System, “Given our view that trading “in-time” shall become prominent in the near future, we selected the hyperledger technology — the next generation blockchian — as the basis of the MSEC blockchain. Hyperledger incorporates the idea of satellite network that allows scalability and the speed of transactions easily surpasses thousands and for some vendors even up to 100,000 transactions per second. Through the MSEC System, holders of MSEC tokens can use the tokens in a designated web portal and effectively rent the equipment, personnel and system for the duration relative to the amount of MSEC spent by a smart contract which automatically execute upon data from the third party surveillance and management system.”
The MSEC System is a hyperledger-based system that executes a one-second rental contract for any utilities. The concept can be universally applied to all utilities as time has always been the common denominator of all forms of return.
The Oceania Mining (WAU) Limited (“OML”) has been working with OJC Holding Limited to conduct the exploration plan, launch the MSEC token and issued smart contracts for mining capabilities with its associated company Mojo International Limited.