Alfa Bank and Sberbank are amongst the first global pioneers that took the initiative to pilot cryptocurrency portfolios. These portfolios are intended to serve a limited number of private clients. The efforts are yet restricted to specific clients that will purchase shares of funds to trade in significant cryptocurrencies. These currencies will include the most prominent cryptos in the market including Litecoin, Bitcoin, Ethereum, Bitcoin Cash, among others.
Kommersant newspaper gave out its report last Friday, bringing out the fact that these piloted portfolios will be restricted to private clients only, and the operations will be under the supervision of Bank of Russia.
Sberbank is the central bank owned by the state that maintains and processes employee paychecks for all government offices in Russia. On the other hand, Alfa Bank is one of the leading private banks across Russia. Alfa Bank is planning to make its mark in crypto commerce using the Group IB, AddCapital investment fund, and National Settlement Depository.
The deputy chair of Sberbank Private Banking; Ana Ivanchuk said:
“We’d like to offer our clients an absolutely transparent way to invest in digital assets with full compliance with regulations that will let them invest in the product they are interested in Russia.”
Anton Rakhmanov, who is the manager of Alfa Bank’s private banking branch, said:
“Our goal is to speed-up the recognition of the digital assets as legitimate financial assets as soon as possible.”
AddCapital is being considered for taking charge of solving technical challenges for the venture. The enterprise played an integral role in unfolding recent pre-sales of the Telegram Tokens. CEO Alexey Prokofyev suggested that the endeavor will be supported by investors seeking a share of the fund.
The six crypto coins maintained by the user portfolio will be constantly revised about four times every year. This revisal will include managing and be cross-checking the proportions by balancing them against a specifically devised trading algorithm.
Alexey Prokofyev added,“The shares are liquid, and a client can send them for fiat currencies any time.”
Moscow Exchange Group has decided to appoint the National Settlement Depository as the designated custodian for the project. Testing the portfolio operation will roughly take 45 days, however, the specific durations and proceedings have not been intimated yet.
Sberbank has refused to give out any statement on this topic.
The recent advancement in blockchain technology has changed the way we perceive a business. Whether it is the making payments through a Crypto channel or getting funds for your new business, blockchain has covered it all. The technology has provided a common platform for investors and entrepreneurs to come together and make most of the opportunity.
With the first Initial Coin Offering launched in 2013, the world witnessed the potential in blockchain business. By 2016, ICOs were the buzzword in every industry. As a business investor, it is definitely worth looking into the rising ventures. In order to make a large profit, you must look beyond the Bitcoin.
In such a scenario the traditional initial public offerings are an excellent opportunity to get coins at a lower price. These coins immediately rise in value when the ICO is over. However, on the flip side, they might lose value and crash. In such cases, the investors never recover their investments.
Here are a few tips and tricks you can use to spot potential baggers and save yourself from scammers:
The Team Is More Important Than The Business
To understand the potential of the venture, you must do a background check on the team member profiles. Experience in the service industry, and their knowledge in the technical expertise relevant to the blockchain will determine the capabilities. What you should be looking for is the perfect balance between professional and business expertise. Lack of experience Might indicate incompetence which might eventually risk your investment.
Understand The Product
Before investing in the ICO, you must understand the product and its potential. Does this product offer something unique and useful to the market? Identify the target audience and how they will be benefited from the product. Make your evaluations as for how well will the product do in the niche market.
Pay close attention to the proposed Business models and understand the roadmap they wish to follow once their ICO goal is met.
Understand The Tokens
Get a clear understanding of the tokens they offer and what purpose will they serve. Mostly these tokens are “utility tokens” that means specific users on their respective platforms use them.
Utility tokens are the most common but are limited to the specific platform only. This means the user can just trade these tokens on the platform. Such token having few limited usages are hence prone to higher risk as they turn worthless once the platform loses traction.
A famous example of “utility tokens” is Ether. Ether is used to make transactions over the Ethereum platform. The hell in the functioning of the platform and offer more value since they are tradable for other services and can be used to make exchange over any cryptocurrency supported by the Ethereum blockchain network or the ERC20.
Utility tokens add more value to the organization since not only they can be traded, but you can also use them to enjoy services available on the platform.
The relation between the shareholders and the team that goes behind the project is an essential aspect of any ICO. A strong partnership must be established between all the agents that are responsible for the success of the ICO. Robust presale results are one of the good indicators you can look for to understand the potential of the ICO. The technical and business experience of the team behind the project determine how well they are capable of handling tough situations.
Analyze The Sales Route
Review the token sale implementations. Learn what the aspects that affect the success and failure of the ICO are. Understand how you can participate and make the ICO successful. Go through the existing stories of the successful ICOs and what were the turning points that made them successful.
Only after understanding all the aspects of the business and technology you can be sure of advantages your ICO possess. Learn as much as you can and make necessary decisions to shine. Wish you all the luck for your Crypto-venture!
Gender inequality is not a matter of debate anymore. The same trend has been witnessed in the blockchain market. Whether it is an upcoming ICO venture or the statistics of total investors, the women power seems to be lagging behind.
In a recent event of North American Bitcoin Conference, out of the 88 speakers, there were only 3 women. Moreover, the party after the conference was held at a strip club.
A recent venture to make a change is the Mogul that conducted an event on “Women in Crypto.” They quoted the NYTimes saying only 4-6% of the investors in the cryptomarket are women. They wish to change it and empower women to be a part of the global motion. This event was held on 5th April at Hearst Tower NYC.
Another such example is of the women in blockchain foundation who are determined to spread awareness and encourage women to participate in the business trend. They aim at educating women about the potential of this technology and how they can make the most of it.
Even in the current crypto market, women face the same inequalities that they suffered before. The overwhelming male domination over the technology development, distribution and wealth accumulation has reduced the opportunities for women in the ecosystem. If no measures are taken, the situation will only get worse, entrenching the present gender inequality.
The situation is worse in an anonymous crypto market since it is decentralized and no authoritative body is present to regulate the resource distribution. By enhancing the opportunities for women, we can assure a long-term involvement and justified growth for both genders.
In a recent survey of October 2017, conducted by Reddit user loveYouEth, found that only 4% of Ether users were women. Also, only 14% of the users of their wallet holders were women.
In the recent statistics provided by Coin Dance, there is only 8.86% engagement of women in the Bitcoin Community.
Measures to be Taken
Several women leaders suggest that to promote the influence of women in the Crypto is to publicise the achievements and contributions they made in the crypto market. Several examples of such Crypto Leaders are Maddie Callander: Boost VC director of operations, Athena Capital founder Meltem Demirors, BlockCypher founder Catheryne Nicholson and BitPesa founder Elizabeth Rossiello.
To achieve higher engagement of women in the blockchain technology; the community must come forward to spread knowledge of the business. No matter how complicated it seems, once there is enough knowledge of the blockchain, more and more women investors will come forward to benefit from the trend.
Many people misunderstand the underlying concept and mistake it as an industry built for software engineers only. Although the technology is reasonably advanced and may look overwhelming for many, there is obviously a large number of possibilities for all in this domain. It is time that both genders come along and contribute to the new world.