Fri. Jun 21st, 2019

U.S. says its forces will keep operating in South China Sea

 

BEIJING (Reuters) – U.S. military forces will continue to operate in the South China Sea in accordance with international law, the U.S. Chief of Naval Operations John Richardson said on Wednesday during a visit to a Chinese naval base. [restrict]

China has refused to recognize a ruling by an arbitration court in The Hague that invalidated its vast territorial claims in the South China Sea and did not take part in the proceedings brought by the Philippines.

China has repeatedly blamed the United States for stirring up trouble in the South China Sea, a strategic waterway through which more than $5 trillion of trade moves annually.

China, Brunei, Malaysia, the Philippines, Taiwan and Vietnam all have rival claims, of which China’s is the largest.

The United States has conducted freedom of navigation patrols close to Chinese-held islands, to Beijing’s anger, while China has been bolstering its military presence there.

Meeting Yuan Yubai, commander of the Chinese North Sea Fleet, Richardson “underscored the importance of lawful and safe operations in the South China and elsewhere professional navies operate”, the U.S. Navy said.

U.S. forces would keep sailing, flying and operating wherever international law allows, Richardson added.

“The U.S. Navy will continue to conduct routine and lawful operations around the world, including in the South China Sea, in order to protect the rights, freedoms and lawful uses of sea and airspace guaranteed to all. This will not change.”

Freedom of navigation patrols carried out by foreign navies in the South China Sea could end “in disaster”, a senior Chinese admiral said over the weekend.

State news agency Xinhua said on Wednesday that countries outside the region should stay out of the South China Sea issue lest they cause unwanted problems.

“Western countries have a long history of failing to establish orderly rule over parts of the world. The Middle East is a classic example,” it said. [/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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