According to an OneCoin press release, new CEO Pierre Arens stated:
At our recent event in Macau (China) I talked about the White Paper we commissioned relating to our OneCoin blockchain technology. But since that event there has been a spate of hostile speculation and misinformation on the Internet, which needs to be countered and corrected.
For the record, I am wholly satisfied with our present technology and its ability to serve the needs of the OneCoin cryptocurrency. But in our fast-moving digital environment, you must lookconstantly to the future. We therefore decided to prepare for that future with the introduction of a next-generation blockchain capability that will support our growth and diversification wellinto the future.
To do this, we engaged the services of a highly qualified specialist consultancy, who were asked to review our current needs and put in place a detailed plan for the introduction of this enhanced technology.
As part of this work, they prepared a White Paper summarising their findings and recommendations. I referred to this White Paper in the course of my presentation in Macau. For further clarification, I quote from the White Paper itself:
“The OneCoin private blockchain system (OneCoin Blockchain from now on) is fully owned by OneCoin