Thu. Jun 20th, 2019

BSCC is Ready for Service

Belau Submarine Cable Corporation (BSCC) will be Ready for Service on December 7 2017. This is a formal project milestone that defines the date from which commercial services are available on the BSCC submarine cable network. [restrict]

The project picked up serious momentum in early 2017, when manufacture of system components began. The target RFS date of 7 December was adopted in April. Construction of the network and the Cable Landing Station at Ngeremlengui has been on schedule throughout.

The BSCC network was provisionally accepted from the supplier, NEC, on November 3 2017, when ownership of the network was transferred to BSCC. Since then, BSCC’s customers have been testing their connections and moving into operational mode.

Palau can now see evidence of the switch from satellite to submarine fibre optic, with speeds of 72 Megabits per second (Mbps) downloading on 4G mobile. DSL connections have also started to hum along, with download speeds of up to 2 Mbps and very significant latency reductions. Latency is the time taken for data to travel from the user’s device to a target server and back. Less latency means a better quality connection, less need for caching and improved network efficiency. Before BSCC, satellite enabled DSL connections were recording latency of around 300 milliseconds. Latency has now dropped to 44 milliseconds on a DSL service in Airai.

Palauans can access cloud based applications or stream videos or movies. There will be no more loss of service when it rains. As Palau’s Retail Service Providers adjust their products to utilise the high speed bandwidth now available we can expect to see further service improvements.

BSCC Chairman, George Rechucher, was delighted that the network was completed on time and under budget. “This is a huge step forward for the Republic of Palau,” he said. “We expect to see benefits throughout the economy as a result of improved efficiency from day one, and further progress as Palau’s service providers fine-tune their services and products.“

The milestone will be celebrated at the National Museum on December 7, when His Excellency President Tommy Remengesau Jr will officially declare BSCC is open for business.

Further information on this exciting project is available at [/restrict]

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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