Day: December 1, 2017

According to PwC Asia-Pacific chairperson Raymund Chao, their decision to accept Bitcoin as a form of payment reflects their move to embrace new technologies and reflective of how digital currencies have been successful in establishing themselves as forms of settlement.

One of the developers behind the Drivechain project for bringing sidechains to bitcoin is seeking feedback on the project’s code.

It’s becoming possible to let a computer make your investment decisions for you based on massive AI capabilities through a new crowd based platform.

Triple Alpha, a project aimed to lower the entry barriers in the asset management industry with the breakthough trading algorithms. Unlike the traditional hedge funds, Triple Alpha will create an exchange-traded fund (ETF) available to any investor around the world.

Created by the team behind Artquant, a successful company which developed a stock market analytics tool incorporating artificial intelligence, Triple Alpha offers:

• A machine learning algorithm for selecting the best stocks at any time worldwide, designed to create the most stable portfolio in terms of risk and return;
• a unique market-neutral strategy that allows to obtain higher than the market average returns, without correlating with the general market movements.

“For years of research we have created algorithms of the highest level, previously available only to clients of hedge funds. Triple Alpha will go beyond the borders of single country to create ETFs traded on the world’s largest exchanges for the most convenient delivery of the algorithm to all interested investors,” says Ilya Filippov, co-founder and CEO at Triple Alpha.

Key benefits of the Triple Alpha platform include:

• Access to the exchange-traded fund (ETF) for all investors around the world;
• Algorithms that enable significantly higher returns than fixed-income instruments;
• Asset diversification with positive returns during periods of stock market growth and declines;
• Fees significantly lower than the prices of hedge funds and other asset managers;
• Fully Automated Decision Making System which mitigates “human factor” risks of asset managers.

In order to facilitate the product development and to create an internal currency for investors to access the services, a Triple Alpha (TRIA) token is introduced.

Triple Alpha Token sale

The TRIA token is an Ethereum-based token which enables potential investors to access Triple Alpha’s asset management platform.

Token sale will proceed in two stages: on pre-sale, which has already started December 27, 2017, investors will be able to buy tokens for $0.5 in ETH equivalent with 50% bonus. The crowdsale is scheduled to start December 27, 2017 until February 27, 2018.  Each TRIA token during ICO will cost $1 in ETH equivalent.

The hard cap will be equal to 10 000 000 USD. A total of 11 000 000 tokens will be generated, after that, no tokens will be emitted. You will find more token sale details in the attached project overview.

If at least $1M is raised, a system of automated managed accounts will be created. Triple Alpha’s proprietary algorithms will be integrated with one of the global brokers. The minimum account volume will be set at $10 000.

If at least $3M is raised, in addition to the system above, an exchange-traded fund (ETF) is to be created. Almost any investor with a broker account will be able to get access to Triple Alpha’s technologies, as the entry barrier for ETF is as low as $100.

If $10M is raised, several ETFs will be created. That will allow the company to provide access to the algorithms to the widest audience, as well as to trade those funds on various exchanges to enable returns in different currencies.

Market Context

Asset management is one of the world’s largest industries. In 2017, the total volume of managed assets is estimated at $63.9 trln. And it is growing – according to PwC, the volume of managed assets will reach $100 trln by 2020. They forecast the accelerated growth in SAAAME region (South America, Africa, Asia and Middle East) which will drive the demand for asset management from investors with medium income.

At the moment, the highest returns are provided by hedge funds, powered by advanced technology algorithms. However they set up the entry barriers for investors at hundreds of thousands, or even millions of dollars. For example, Forbes 500 list counts around 60 businessmen related to asset management, investments or banking.

Exchange traded funds (ETFs) are a major breakthrough in the asset management industry. They lower the entry barriers for investors, although provide limited technology capabilities. The overall asset volume in ETFs is currently estimated at $4 trln.

Both hedge funds and ETFs, as well as pension funds, mutual funds and robo-advisors, do not fully meet the requirements of mid-range investors in low-risk and high-return asset management.

Team and Advisors

Triple Alpha was co-founded by Ilya Filippov and Samit Yakovlev, proven experts in asset management, trading algorithms and investment strategies. Both have previously launched Artquant, a successful startup which developed a stock market analytics tool incorporating artificial intelligence.

Ilya Filippov, co-founder and CEO at Triple Alpha, has seven years of experience in creating quantitative models used to predict stock and fixed-income markets and develop volatility arbitrage strategies.

Samit Yakovlev, co-founder and managing partner at Triple Alpha, has more than 20 years of experience in asset management and has been previously five of the best traders of Russia by the «Dengi» magazine.

The project is advised by Mikhail Leviev, CEO of Algomost and a former director of MIPT (Moscow Institute of Physics and Technology), as well as by Alexander Dyakonov, a professor at Lomonosov Moscow State University (MSU) with a Ph. D. in Physics and Maths with outstanding achievements in Machine Learning.

The post Triple Alpha Is Set to Democratize the Asset Management Industry appeared first on NEWSBTC.

The post Bitcoin’s Journey from $1,000 to $10,000: The Stories That Got Us Here appeared first on Bitcoin Magazine.

The U.S. government is very aware of cryptocurrencies and the rise of bitcoin. This week American authorities from multiple agencies such as the IRS, the Federal Reserve, and President Trump’s press secretary all explained they are monitoring cryptocurrencies and bitcoin’s recent popularity.

Also read: It’s Official – CME Group to Launch Bitcoin Futures December 18

U.S. Government Agencies Are Paying Attention to the Rise of Bitcoin

Bitcoiners from the U.S. may have some more stringent battles to fight ahead as multiple government agencies are looking into the use of cryptocurrencies and some officials seem somewhat cynical. For instance, the country’s Internal Revenue Service has been granted permission by a federal judge to review Coinbase accounts for people who transacted with $20,000 or more from 2013-2016. Then a couple of days later the Federal Reserve revealed it was contemplating its own digital currency, but launching the idea is a different story. The president of the Fed’s New York branch, William Dudley, explained he believes bitcoin and cryptocurrencies are “more of a speculative activity.”

Bitcoin Is Being ‘Monitored’ by Our Team

Following the statements from the New York Fed executive on November 30, president Trump’s press secretary, Sarah Sanders discussed bitcoin briefly at the White House press briefing. A reporter asked Sanders whether or not the president was following cryptocurrencies “specifically the major run-up with bitcoin,” explains the journalist.

“Does he have an opinion on it, and does he feel it is now something that needs to be regulated?” asks the reporter. The press secretary Sanders explains the government is watching bitcoin stating;       

The [Bitcoin situation] is something that is being ‘monitored’ by our team — Homeland Security is involved. I know it’s something that he’s [Trump] keeping an eye on — And we’ll keep you posted when we have anything further on it.

Members of the Federal Reserve Are Concerned About Cryptocurrency Spillover Effects

In addition to the White House press secretary’s comments the U.S. Federal Reserve vice chairman, Randal Quarles stated on the same day that the rise of cryptocurrencies poses a threat to “financial stability.” Discussing the subject at the 2017 Financial Stability and Fintech event, Quarles said retail investors and regulators need to watch out for threatening “spillover effects” tethered to the popularity of digital assets. The reason Quarles is concerned is because decentralized currencies are not backed by traditional reserves, and suffer from significant price swings.

“Risk management can act as a mitigant, but if the central asset in a payment system cannot be predictably redeemed for the U.S. dollar at a stable exchange rate in times of adversity, the resulting price risk and potential liquidity and credit risk pose a large challenge for the system,” explains Quarles during the Fed’s conference.

Like many U.S. officials and agencies, Quarles says research is needed and testing these cryptocurrencies to see if they can handle financial stress. “It is not clear whether the payment system would be able to function, in times of stress,” Quarles emphasizes.

What do you think about the U.S. government’s statements towards bitcoin and cryptocurrencies? Do these issues concern you? Let us know in the comments below.

Images via Pixabay, the White House, the Federal Reserve logo and Bloomberg.

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The post Trump and the Federal Reserve Are ‘Keeping an Eye on Bitcoin’ appeared first on Bitcoin News.

The Tezos project founders reportedly asked their foundation to pay for their legal bills after being sued multiple times. The foundation said no.

Bitcoin dropped 20 percent from all-time highs, only to rebound on good news. Is the market move upward here to stay, or should we expect another sell-off?

The post Regulators Greenlight Bitcoin Futures appeared first on Bitcoin Magazine.

Utilizing a power of blockchain technology to establish vivid community worldwide

Debitum Network combines both realistic financial focus and idealistic world changing vision. The team of professionals from financing and IT industries wants to establish a global ecosystem which utilizes amazing blockchain opportunities. Debitum Network using decentralized approach will connect financing process service providers all around the world into communities, help smaller businesses to access financing and let global investors to trustworthy deploy capital.

Martins Liberts, visionary and co-founder of Debitum Network says “Finance is fuel for small companies’ growth. Even very efficient companies often need financing to manage their cash flow for smooth daily operations. Unfortunately, nowadays it is an obstacle for a lot of businesses and we can see it represented by huge 2 trillion $ credit gap for SME financing worldwide.

At Debitum Network we believe that small companies must have fair opportunities to connect investors from any part of the world and then utilize their investments. We have experienced this need ourselves while developing successful IT and alternative finance businesses. We feel that now it’s time for us to share our experience and to help other companies grow. We are proudly creating an instrument which provides equal growth opportunities for different size businesses.”

Debitum Network utilizes amazing benefits of the blockchain technology and works towards mission to create a transparent, secure and decentralized ecosystem for sustainable businesses’ growth worldwide.

Cryptocurrency realists are changing the world

In order to have a properly working platform from the very beginning, Debitum Network model connects benefits from both crypto and non-crypto worlds. “We are realists and understand that country regulations still need to be adjusted to utilize a full potential of the blockchain technology. Therefore, we connect investments in fiat or regular currency to make it easily accessible for small companies. Smart contracts in blockchain will ensure trust and quality services among community members. We take advantages of interlinked Ethereum smart contracts and transparent rating system based on blockchain to make sure that investment is as safe as possible. It also allows to provide up to date information for all the participants in the ecosystem”, comments Martins Liberts.

What’s next?

You may ask so what are the next steps in implementing this Debitum Network plan? Winning awards and getting support from the blockchain community is a successful step in our path. The project estimated its soft and hard cap and provided a detailed plan according development in different regions and countries. Debitum Crowdsale begins on 7th December 3:00 PM London time. Now, the speed on how fast we can achieve this goal depends on everyone.

Learn more about Debitum Network project in their detailed White paper and register for updates and information about ICO on their website.

The post New Award Winning Way to Bring Change Using Blockchain Technology appeared first on NEWSBTC.

Lately, banks throughout the world have begun experimenting with blockchain technology, given that it offers quicker transactions, lower costs, and reduced bureaucracy. Recent reports indicate that the Central Bank of Azerbaijan is exploring the potential associated with this technology.

Central Bank of Azerbaijan Holds Blockchain Meeting

Last week, top officials from the CBA held a meeting to discuss the potential of and future research into blockchain technology. The meeting was attended by the bank’s First Deputy Chairman, Switzerland’s State Secretariat for Economic Affairs, the Deputy Regional Director for the South Caucasus, and Swiss Trub Trading’s Chairman of the Board.

Reports indicate that the meeting focused on various topics, including the use of blockchain technology in foreign countries, and the integration of digital identification into the bank’s payment and information systems.

However, it is important to point out that the chairman of the CBA, Elman Rustamov, mentioned that the bank continues to have a conservative opinion on digital currencies:

The Central Bank of Azerbaijan has a conservative position regarding cryptocurrencies. Cryptocurrency is not a parallel financial monetary system, but a high-risk investment asset.

Regardless, the CBA is planning to implement blockchain technology in its banking and financial sectors in the near-term future. This means that the bank is likely to start beta-testing various blockchain-based systems shortly.

What are your thoughts on the Azerbaijan Central Bank considering blockchain technology for its inner operations and global implementations? Let us know your thoughts in the comment section below.