DUBAI, UAE / ACCESSWIRE / July 31, 2017 / In a landscape where digital currency is increasingly becoming more mainstream, investment banker and CEO of SG Morgan Financial Services, Shaun G. Morgan is set to launch a new cryptocurrency network named Sinocoin. Sinocoin is to be led from China, positioning the network in a country which is currently at the forefront of industry development and research.

Since the beginning of 2017, the market price and market capitalization of digital money have skyrocketed, largely due to cryptocurrency mining activity in China and Japan. China is home to about 70% of Bitcoin mining and trading, making it one of the most important trade players worldwide. The Chinese government also appointed a Blockchain consortium, which is examining how digital payment infrastructure would be set up once it becomes ready for deployment in the country. With these substantial movements towards nationwide market adoption of digital currency, Shaun G. Morgan saw China as the area that made the most business sense to launch his new operation - Sinocoin.

The People's Bank of China (PBOC) recently opened its Digital Currency Institute in Beijing, becoming one of the first central banks in the world to actively explore cryptocurrency and develop blockchain technology. The research conducted will maximize the full potential of digital money within the Chinese financial industry. PBOC Vice Governor, Fan Yifei, told Bloomberg News that the current conditions are ripe for digital currencies with Internet access increasing and encryption technology improving. The PBOC has also completed a digital currency trial, which saw transactions settled via a distributed ledger system. Several major commercial banks, such as the Industrial and Commercial Bank of China, plus privately owned WeBank participated in the trial, suggesting a potential push toward the digitization of China's Renminbi. This places Shaun G.Morgan's Sinocoin network in a highly progressive and burgeoning Chinese market, alongside a number of other key cryptocurrencies such as Bitcoin and Ethereum.

While Bitcoin and Ethereum have been in a state of flux, there is no other asset class in the world with such a strong historic performance, and the volatility of the market appears set to level out moving forward. Not only does launching Sinocoin come as a great success for Shaun G. Morgan, it also positions him as a pioneer in the current global financial environment.

With over twenty years of financial experience, Shaun G. Morgan is the Managing Director of Emirates Consolidated Investments, as well as CEO of his leading investment bank, SG Morgan Financial Services. Internationally successful in the financial industry, his wealth of experience has led Mogan to become an Economic Adviser to Royal Family members in Saudi Arabia, as well as leading businessmen in UAE and governments in Africa.