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Majic’s Subsidiary CGCX Launches Advanced Decentralized Blockchain Platform
Majic’s Subsidiary CGCX Launches Advanced Decentralized Blockchain Platform.
About this update from Majic Wheels Corp.
[{"type":"text","content":"\n Houston, Texas, Aug. 06, 2021 (GLOBE NEWSWIRE) -- Majic Wheels, Corp. (OTC Pink: MJWL) (\"Majic\" or the \"Company\"), a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development by means of acquisitions, announces launch of iChain Advanced Decentralized Blockchain Platform by its wholly-owned subsidiary CGCX. CGCX’s iChain is an ambitious Layer 2 scaling project dedicated to the establishment of a truly decentralized infrastructure. It provides one of the largest blockchain-based operating systems and offers public blockchain support of high throughput, high scalability, and high availability for all Decentralized Applications (DApps) on the CGCX iChain ecosystem.  iChain is designed to be a complete platform for launching interoperable blockchains and offers significant transparency, security, scalability, performance, and low/no gas fees. The first project - iBG (www.ibg.finance), a Smart DeFi Robo Advisory app that provides users with AI enabled asset management, has already gone live on CGCX iChain, with more than 3000 transactions logged in the first hour. The second project is CGCX token. CGCX is the world’s first fully insured hybrid trading platform and its native utility token will migrate from Ethereum blockchain to iChain blockchain. There are two further enterprise blockchain projects in the pipeline that are due to go live on the CGCX iChain. Aneesha Reihana, Chief Product Strategist of iBG.finance added “CGCX’s iChain has provided us a scalable platform to expand our service offerings at not only no cost to our consumers, but even more importantly on an insured platform.” The go to market strategy is to help fortune 500 multinational companies move into blockchain with a highly scalable/secured low to no cost model. This provides a truly decentralized platform and offers POSI (public offering security insurance) to all the digital assets available in the iChain platform, subject to insurance premiums. The founder of CGCX and iBG Dr Vin Menon said “we are very proud to be the world's first insured platform where all the digital assets are reinsured by Lloyds of London Syndicates and provide safe custody and peace of mind for our asset owners. This is unique to the market, and we have been working on devel...