Thu. Jun 20th, 2019

Australia announces opening of an embassy in Palau

The Australian government will open an embassy in Palau, according to a speech by Prime Minister Scott Morrison in a speech on Nov. 8.

The announcement of Morrison is part of Australia’s “step-up” in Pacific engagement.

“We’re also expanding our diplomatic footprint.  Our diplomatic network is already larger than any other country in the Pacific as it should be and we are going to expand it,” Morrison stated.

Morrison was addressing the Australian military personnel at the Lavarack Barracks, Townsville, Queensland.

“Today I announce that we intend to open diplomatic missions in Palau, the Marshall Islands, French Polynesia, Niue and the Cook Islands. This will mean Australia is represented in every member country of the Pacific Islands Forum.”

In the North Pacific, Australia has a diplomatic post in Federated States of Micronesia (FSM).

The planned diplomatic posts will be opened by 2021.

In June this year, former Australia’s Foreign Minister Julie Bishop visited Palau as part of her north Pacific tour, leading a delegation tasked to foster “a deeper, stronger bond between Australia and the people of the North Pacific.”

Bishop’s North Pacific tour, which included a visit in Palau, FSM and Marshall Islands, stressed Australia’s step up in its Pacific relationship amid the growing Chinese activity in the region.

“Traveling to Micronesia, Palau, Marshall Islands again sends a very clear message that we regard the Pacific as our part of the world, this is our region where we can make a difference,” she said. “The purpose of this week’s visit is to engage directly with the leaders on how we can deepen economic integration, strengthen security partnerships, expand our people-to-people links and talk about our development assistance,” Bishop has earlier said.

During Bishop’s President Tommy Remengesau Jr. said it welcomes Australia’s offer “to be a key partner and advocate for regional peace and security.”

Remengesau said it hopes to get more investors from Australia but is also welcoming of other players in the region, including China.

Palau for the last three years has seen in increase in the number of tourist arrivals and private investments from China. (Bernadette H. Carreon)


ICB Bank and Pangea Foundation to cooperate on a password-based financial services business

June 14, 2019 - Palau ICB Bank will launch new financial services based on the Pangea Foundation and cryptography promote business.

ICB Bank on Thursday, the cryptographic currency foundation Pangea (PAN) and block chain-based cryptography and signed business agreement to promote the financial services business.

ICB Bank uses the Pangea Foundation's password currency 'Pangea' to combine financial services. We plan to jointly promote various Pin Tech businesses.

In particular, ICB Bank is working with Pangea Foundation. ICB Bank promote issuance of visa cards and master cards based on cryptography. The company is releasing debit cards that can be settled as collateral.

If a Visa or Master Card is actually issued, payment will be made in everyday life anywhere in the world. It is becomes possible, consumers can use the Visa/Master Card on-line merchant's Bitcoin, Ethereum.

The bank, a financial institution works with the Cryptographic Fund to provide financial services that can be applied in everyday life. The roll out is expected to be the first in the block chain pin tech industry.

An official from the Pangea Foundation said, "Working with the bank, in the future, global credit card companies and we will expand services to Eurpoe, Latin America and other countries in connection with possible banks." he said.

On the other hand, Cryptography Pangea (PAN) is an ERC20-based token used for remittance and payment. Adds a centralize authentication agreement to decentralized lenders technology for faster transaction rates. Billing platform at the same time. Currently, Indonesia, Vietnam, Uzbekistan, Europe, etc. and the Cryptographic Exchange of eight countries in Southeast Asia and Latin America.

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