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Blockchain-Based Alternative Investment Firm to Be Listed on Bloomberg Terminal

Blockchain-Based Alternative Investment Firm to Be Listed on Bloomberg Terminal

A blockchain-based alternative investment provider that tokenizes commercial debt is being listed on the Bloomberg Terminal, according to a news release published on June 4.

Cadence is believed to be the first digital asset to obtain a Financial Instrument Global Identifier (FIGI), enabling professionals who use the Bloomberg Terminal to research its offering and execute trades.

The company connects investors with businesses that need to borrow money in order to plug temporary gaps in their cash flow. On its website, Cadence says the minimum investment amount is $500, giving consumers “opportunities traditionally reserved for institutions.”

Currently in private beta, Cadence claims its platform allows investors to generate passive income and hedge against market volatility. Every deal matures within a year, and the company is aiming to deliver annualized returns of more than 10%.

In the news release, Bloomberg Head of Data Standards and Strategy Richard Robinson said:

“The assignment of a FIGI to digital assets is a natural and simple example of the standard’s native utility. It is proof that FIGI can easily extend to new, even esoteric financial instruments.”

Last June, the Bloomberg Terminal started listing Huobi’s Cryptocurrency Index, which tracks the performance of the top 10 traded assets on its exchange.

Source: Pivot – Blockchain Community

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SendFriend gets $1.7M for blockchain-based remittance led by MIT, Mastercard

SendFriend, a New York-based blockchain startup specializing in international money transfer to the Philippines, has raised $1.7 million in pre-seed funding from a group led by MIT Media Lab, Mastercard Foundation, Ripple and Barclays. Other investors include Techstars, Mahindra Finance, 2020 Ventures and 8 Decimal Capital. The blockchain-based platform, set to launch service from New Jersey and expand to other U.S. states, will allow customers, mostly overseas Filipino workers, to transfer funds back home for about 65 percent less than what is currently on the market, according to David Lighton, co-founder and CEO………………

Source: SendFriend gets $1.7M for blockchain-based remittance led by MIT, Mastercard

Blockchain in Trade Finance: Arguably the Hottest Banking Trend Right Now

In the journey to digitalizing trade, blockchain and distributed ledger technology (DLT) have emerged as powerful technologies promising to bring tremendous new opportunities for trade finance. At the 2018 Singapore Fintech Festival, experts discussed the many opportunities that blockchain brings to the table, with Jim Sullivan, deputy assistant secretary for services at the US Department of Commerce of International Trade Administration, citing two core areas for blockchain: trade finance and supply chain. Sullivan spoke about an advisory committee for the US Secretary of Commerce that is working to evaluate different standards across the world and the feasibility of leveraging blockchain in trade finance…………

Source: Blockchain in Trade Finance: Arguably the Hottest Banking Trend Right Now

Navigating Bitcoin, Ethereum, XRP: How Google Is Quietly Making Blockchains Searchable

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It’s a balmy 80 degrees on a mid-December day in Singapore, and something is puzzling Allen Day, a 41-year-old data scientist. Using the tools he has developed at Google, he can see a mysterious concerted usage of artificial intelligence on the blockchain for Ethereum. Ether is the world’s third-largest cryptocurrency (after bitcoin and XRP), and it still sports a market cap of some $11 billion despite losing 83% of its value in 2018. Peering into its blockchain—the distributed database of transactions underpinning the cryptocurrency…………

Source: Navigating Bitcoin, Ethereum, XRP: How Google Is Quietly Making Blockchains Searchable

Can Blockchain Technology Make Agriculture Safer?

Smart contracts built on blockchain technology may eliminate the need for middlemen. Energy grids could use that tech to increase cybersecurity. And aerospace suppliers look to blockchain as a potential investment in keeping track of their supply lines and boosting efficiencies. But perhaps one of the most unexpected – and impactful – applications of blockchain may be in agriculture…………

Source: Can Blockchain Technology Make Agriculture Safer?

Taiwan to launch blockchain-based digital ID system in 2020 – TokenPost

The government of Taiwan is planning to roll out a blockchain-powered digital identification system in 2020, local news outlet CNA reported last week. Premier William Lai announced plans to launch the new eID system at a meeting held last week. The initiative is part of the broader efforts aimed at implementing “smart government” to promote the digital transformation of the government.

Source: Taiwan to launch blockchain-based digital ID system in 2020 – TokenPost

Italian government brings together 30 experts to build national blockchain strategy – TokenPost

Italy’s Ministry of Economic Development has brought together 30 experts in a bid to boost the country’s blockchain strategy, CoinDesk reported.In September, the ministry had launched a call for applications for the selection of up to 30 members of a group of experts for the drafting of a national strategy on distributed ledger technologies (DLTs) and blockchain.

Source: Italian government brings together 30 experts to build national blockchain strategy – TokenPost

A Blockchain Ranking Machine to Select Promising Science-Focused Venture Projects – Sergi de Cornudella

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For every Da Vinci funded by the Borgias and Edison patronized by Ford, there are tens, if not hundreds of inventors and genius scientists, whose innovations have never been noticed. In many cases, it was the inability to attract investors that buried promising technologies.

A startup called ScientificCoin, based in California, aims to have a solution for this centuries-old problem.

Nerds to the rescue

The company has developed an algorithm for a bias-free, decentralized evaluation of projects so that investors can fund venture projects in science and other areas including initial coin offerings (ICOs) with more confidence. Vladimir Kozhevnikov, the Chief Financial Officer of ScientificCoin, said:

“We are leveraging blockchain technology to take out the human error factor and to make the rating process more fair and transparent. We want to help investors to pick the right projects and we have the ambition to help the world by bringing as many valuable innovations as possible to the market.”

In other words, the bunch behind this nerdy name, have come up with nothing less than a project ranking machine, coupled with an algorithm that can distinguish an informed and knowledgeable opinion from the rest.

The result is a crowdfunding platform with a promise to finally do everything right.

The business model is simple: for investors, there’s the promise of peace of mind and more insurance against scams. For recipients, if they are able to defend their projects against the steel-cold logic of the machine, there is the promise of funding to implement their ideas. For ScientificCoin tokenholders, five percent of of all funds raised using this platform is distributed between tokenholders of its respective coin, as a fee.

It is a coin, and it is scientific

ScientificCoin’s Chief Executive Officer Maxim Dvedenidov says its ranking algorithm is based on the same mathematical principles that venture funds, insurance companies, and stock exchanges use to evaluate investment candidates. Dvedenidov says to Cointelegraph:

“The ranking machine takes into account more than 70 major characteristics divided into five sections. The rating is determined in accordance with the correlational regression model based on statistical analysis of the projects over a nine-month period”.

When applying for a ranking, those seeking financing are to fill out a form with “precise questions and indicators” of their product. The program models the rating of the project by the correlation of its characteristics, and then a ranking in with allocation of a rating for each characteristic of a project.

Challenging the oligopoly

The ScientificCoin team sees the centralization of authority to evaluate new projects in hands of a few pundits as a root of all evils that plague the industry. These experts, while knowledgeable, are prone to corruption, bias and influence, ScientificCoin argues.

The company offers a decentralized alternative, a kind of “crowd evaluation” as a remedy. The company’s leader elaborated:

“The algorithm we have created will not allow [experts] to take the project appraisal frivolously. The influence of an expert’s vote on the rating of a particular project will depend on a lot of factors, including the expert’s evaluation history, their personal details, and the level of uniqueness of the project”.

According to him, any particular experts may not be aware of some faults of a reviewed project, but the hive mind will not miss a thing.

While promising, the idea behind ScientificCoin will almost certainly provoke another arms race. An algorithm that decides who gets a resource (funding in this case, or customers’ attention in case of search engines), inevitably sees itself a target of much criminal attention. We all saw an entire industry of fooling search engines emerge. Does the same fate expect project ranking algorithms like ScientificCoin?

ScientificCoin says it is prepared for such a scenario. A complex set of statistical algorithms detects and rejects “opinions” with vested interests, based on a plethora of factors nearly impossible to circumvent, ScientificCoin explains.

 

 

 

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