Mr. Takatoshi Nakamura CEO, Pres. and Mr. Motoyuki Odachi, COO, Dir. of CIPHER-CORE, Inc., Colorado, USA publicly held company (OTC PINK:CFCI) visited Dhaka, capital of People’s Republic of Bangladesh 6/12/2023-6/17/2023 to discuss using CIPHER-CORE, Inc. internationally patented technology “complete cypher” for Central Bank Digital Currency (CBDC) with the officials of Bank of Bangladesh.
“Daily Business Eye” one of the most influential daily papers in Bangladesh reported 6/18/2023 that a two-member delegation of Japan’s company “Cipher-Core co. Ltd” 100% subsidiary of CIHER-CORE, Inc. USA is now visiting Bangladesh to meet with several officials including Bangladesh Bank (BB), Ministry of Finance and others.
During the discussions, many questions were related to the one and only technology related to “complete cypher” which is not using the ledger system in various financial fields but instead using “complete cypher” that protects even quantum computer attacks. They have made an offer to Bangladesh Bank to introduce the CBDC using their technology. The discussions shall be continued further when visiting Dhaka again 7/28/2023 – 8/01/2023.
During the visit, Mr. Nakamura and Mr. Odachi visited the Japanese Embassy in Bangladesh. Mr. Odachi reported to Ambassador Kiminori Iwama the purpose of their visit to Bangladesh. Mr. Iwama introduced Mr. Tomohide Ichiguchi, the Representative of the Bangladesh office of, Japan International Cooperation Agency (JAICA) to Mr. T. Nakamura and Mr. M. Odachi. JAICA is the agency in charge of administering Japan’s Official Development Aid (ODA).
Mr. Odachi, COO of the company, a former deputy minister of finance of Japan, wants to get JICA’s financial assistance to Bangladesh on this “complete cypher” project for CBDC for the costs being incurred during the development stage as technical cooperation is one of JICA’s three major areas of development assistance, the others being grants and yen loans.
Topic: Press release summary
CIPHER-CORE, Inc., (Pink sheets:CFCI) a company that provides end-to-end protection technology for communication systems, remote authentication technology for IoT systems and Crypto Cash technology.
Mr. Takatoshi Nakamura, CEO and President attended the Digital Currency Conference (DCC) May 17 through May 19, 2023 in Mexico City. Seventy-one organizations from 33 countries focused on technology and design aspects of both Central Bank and Private Digital Currencies. It was successful to join DCC and introduce our products for the future of Digital Currencies with the participants at this conference.
The first day of the Conference, Digital Currency Fintech Innovation showcased the most outstanding start-up Fin-Techs, several innovation hubs within established commercial banks, and organizations with digital currency innovation.
Ten innovative companies were selected to make a presentation of their projects. CIPHER-CORE, Inc., Mr. Nakamura was one of the ten selected companies who highlighted the following for the executives of the central banks and the companies.
1. Why our product is different from existing solutions:
Our product is the world’s first application of unbreakable complete cipher technology based on “Information-theoretic security” to CBDC. This is the world’s first and only technology and Product that realizes the “digital cash” ideal for CBDC in retail.
2. Why we think we can make a difference in the digital currency area:
First, for retail CBDC, it is the world’s one and only solution to realize “digital cash”. On the other hand, for wholesale CBDC, since it will always use some kind of network, we are able to provide a solution that can eliminate “man-in-the-middle” attacks, for which there is no Fundamental solution even today, by applying complete ciphers.
Mr. Nakamura joined the various presentations performed by the Banks and other companies and events arranged by the DCC pursuant to the program.
Mr. Nakamura spoke directly about CIPHER’s unique technologies for CBDC with 11 executives of the central banks, all of whom indicated their great interest in his proposal and willingness to proceed with opportunities.
Topic: Press release summary
A Business Agreement was mutually signed by CIPHER CORE, Co., Ltd. a Japanese Corporation (“CC”), 100% a subsidiary of CIPHER-CORE, Inc. US publicly held company (OTC PINK:CFCI) and Prabhu Bank Ltd.(PBL) a Nepalese leading banking and financial service group located in Nepal which has a Class A Financial Institution license and regulated by the Central Bank of Nepal.
Whereas CC will provide its Overseas Remittance Service in Japan using CC’s software, “CIPHER REMIT” previously called “COMPASS” providing convenience, safety, quickness and drastically less expensive, enabling the customers to transfer their money through Smart-Phone without visiting the bank, wallet to wallet.
Whereby Prabhu Bank Ltd. (Merged with Century Commercial Bank) will be designated as a receiving company or an intermediary delivery company to deliver the Transfer Amount to the beneficiaries in the Territory. It is said that as of today 100,000 Nepalese are working in Japan who are monthly transferring their earned money of 100,000 yen in average (about US$ 770 equivalent) to Nepal.
Mr. Takstoshi Nakamura CEO/President of CIPHER-CORE, Inc. said that CC’s ultimate goal is to have Central Bank of Nepal evaluate the value of CC’S software called “CIPHER CASH PLATFORM” for its Central Bank Digital Currency program.
Invited to Katmandu, Nepal, Mr. T. Nakamura lectured to major officers and executives of Central Bank on software of “CIPHER CASH PLATFORM” how it works more appropriately to their CBDC project saying that the ledger systems currently used for the above two online settlement methods is not only time consuming but already reaching its limits to perform accurately the current batch & offset processing without error.
We will provide correct and effective solutions to use “digital cash” without using the ledger system in various financial fields using “complete cipher” that protects even Quantum computer attacks.
Mr. Nakamura’s lecture was highly accepted and was invited to join the Work Shop.