#cryptoresources

Director ejecutivo de Crypto Resources: “Creemos más en la cooperación que en la competencia”

Tomas Groos es co-fundador de Crypto Rocket y director ejecutivo de Crypto Resources. Es una de las mentes detrás de un arduo trabajo para divulgar tecnologías descentralizadas en Latinoamérica. Cointelegraph en Español conversó con él, en Argentina, para conocer su visión sobre Bitcoin y las criptomonedas, entre otros temas.

Fernando Quirós (FQ) ¿Qué potencial le ves a Bitcoin en el futuro?

Tom…

Brindarán una charla sobre prevención de estafas cripto

Con la organización de Crypto Resources y Decred, el próximo 27 de julio se realizará la charla abierta “Estafas en cripto: ¿Cómo reconocerlas y prevenirlas?”. Así lo informaron desde Crypto Resources, en Argentina, a Cointelegraph en Español.

“Lamentablemente las estafas o SCAMS, son cada vez más comunes en el ecosistema cripto“, explicaron.

“Esto, al igual que en otros ámbitos se debe, por un…

Wong says further uses of blockchain and cryptocurrency will open up in Hong Kong in the future – and there will be real potential for disrupting the existing financial system.

Applications may include payment processing, financial services, digital voting, digital IDs, real estate and title transfers.

“I’ve seen a surprising amount of errors in equity trades, which result in human intervention,” he says.

“If you think about it from an opportunity-cost perspective, this drives transaction costs and it increases the time to clear a transaction.

Andrew Wong, managing partner of IDCM, says in future there will be further uses of blockchain and cryptocurrency in Hong Kong – and real potential for disrupting the existing financial system. Photo: Abdela Igmirien

“The problem is scaled up when you include cross-border transitions.

“Decentralised ledgers can solve many of the issues.”

Now is the right time to be involved in pioneering and developing this asset class ... my long-term goal for us is to become a cryptocurrency investment bankANDREW WONG

The twin processes used to help prevent financial crime and prevent terror funding – know your customer due diligence and anti-money-laundering checks – are also at the core of blockchain technology, he says.

“Imagine a virtual Hong Kong dollar with inbuilt compliance and security protocols,” Wong says.

“[That means] no more evasion of tax, fewer legal issues and another way to combat money laundering; the possibilities are truly endless.

“My long-term goal for us is to become a cryptocurrency investment bank.

Arguably the biggest representative of this technology during 2018’s Forbes Global CEO Conference is Binance’s own Zhao Changpeng. He started off by saying that Binance, which is among the largest crypto exchanges in the world, only started off in July 2017. That is barely 16 months ago, and already, it is known and used by traders from all around the world.

This was how the boss of Binance explained the speed of events in the crypto world. Furthermore, to show how the nature of business has changed due to crypto and blockchain technologies, he said that Binance has no office, nor does it have a bank account. Even so, it serves thousands of users from 180 different countries on a daily basis.

He also attempted to explain that, while crypto and blockchain are still new technologies, they are not difficult to understand. He compared this technology to cars, stating that a person doesn’t have to know how the engine works in order to use a vehicle. In a way, while this is quite complex technology, the difficult part is happening underneath the surface. As for users alone, they do not have to be especially tech-savvy to use this technology.

As CCN reported, Goldman Sachs, Citigroup, and Morgan Stanley, three of the largest investment banks in the US, have already developed a wide range of products including a trusted custodian solution to serve institutional investors in the cryptocurrency market.

Morgan Stanley is said to have developed the infrastructure required to provide complex derivatives tied to Bitcoin, with the plans of launching Bitcoin swap trading as soon as the bank sees enough demand from institutions for crypto.

To remain relevant in the fintech space and connected to the cryptocurrency space, Harding said that banks are closely working with newly emerging fintech companies to study the cryptocurrency market and will soon allocate capital into the asset class.

“A lot of banks are healthily skeptical about bitcoin and blockchain. They see the need to invest in it to keep up with technological developments, but they’re waiting to see where regulators fall and are working closely with financial technology (fintech) companies to make sure they’re not behind the curve. There is a lot of money being poured into [blockchain and cryptocurrencies],” she explained.

For decades, the world of private equity was reserved exclusively for venture capital firms and accredited investors — individuals with a net worth of at least a million dollars or with an annual salary of at least $100,000. But when Title III of the JOBS Act went into effect in May 2016, suddenly anyone could invest in private companies. It was a major win for everyday investors, and several equity crowdfunding portals opened up, showcasing many compelling opportunities in private equity.

Then 2017 happened. The advent of cryptocurrencies, blockchain technology, and smart contracts opened up an even more efficient way for entrepreneurs to raise capital without the use of a middleman, as well as the promise of a more equitable and democratized private equity landscape. While its ICO was accessible to the public, not just accredited investors, messenger app Telegram raised $850 million, marking one of the largest fundraising events in the history of tech.

Companies like Securitize, Polymath, and Harbor have become leaders in the movement to tokenize all kinds of traditional assets into security tokens. As a fundraising vehicle, security tokens allow companies to raise capital without having to lean on investment banks and stock exchanges as intermediaries. Spice VC, for example, is a tokenized fund, as is Blockchain Capital.

Given the oversight from the SEC and other regulatory bodies that security tokens are subject to, investors are able to invest in an opportunity without worrying about being scammed. Their only concern is the financial success of the company, as is the case with stock ownership. The financial regulatory framework in the U.S. creates a favorable landscape for STOs to thrive. The already corporation-friendly state of Delaware stands out in particular, as it now allows companies to write shares on a blockchain.