With BTC hovering around the $4k mark and many Alt coins making big moves, market sentiment has certainly taken a turn for the better these past weeks. There are various conferences around this time of year and Money 20/20 is kicking off in Asia this week we can all expect some fantastic news from FinTech companies pushing the boundaries of the blockchain space and really disrupting traditional finance models.
Distributed Ledger Technology (DLT) is going mainstream
The Securities and Exchange Commission (SEC) in the United States are waking up to this fact and on Friday announced a forum to discuss DLT and Digital Assets in May.
The agencies Strategic Hub for Innovation and Financial Technology (FinHub) will be organising the event. We can expect topics such as ICO’s, STOs, Protocols and IEO’s to be discussed at length.
Readers of this site will know how advanced countries like Japan are in the regulatory sector of DLT, so American readers will be pleased that the SEC is taking a progressive stance on the technology with a clear mandate to involve the community in its decision-making process
North of the Border
QuadrigaCX has given the Canadians a largely sour taste when it comes to Digital Assets, however, it has demonstrated the obvious in that regulation is needed for retail investors to operate safely in the space.
The regulatory bodies responsible for oversight of traditional stock exchanges are seeking feedback from interested parties on establishing a framework for operators in Canada.
Once again, FinTech’s in Canada will be expected to take part and help guide the regulatory model that Canada eventually adapts, enabling businesses to operate within specific guidelines allowing growth in the nascent field.
Private Blockchains roll on
R3 showed again why they are one of the fastest growing private blockchain providers as Commercial Bank out of Qatar announce they will be working with the platform.
The bank has a market cap of around $18b and focuses on retail, enterprise and corporate banking.
Day by day there seems to be another bank publicly announcing work with DLT, and R3 are more often than not involved. They are successfully moving to the front of the enterprise blockchain space – with over 300 of the worlds largest financial firms, tech companies, central banks, regulators and trade associations part of the collaborative network.
When gold is struck, sell shovels
Very excited this week as Investment Management Company, Invesco, announced they would be facilitating the trade of the Elwood Global Blockchain ETF
The Crypto markets have been shouting for a digital asset ETF to legitimise the asset class and potentially enable institutional investors to take part.
For me, this ETF product is one step better than a raw digital asset ETF, as the fund will be comprised of the businesses behind the blockchains – currently, Overstock (owners of Bitt and Medici Ventures) and the CME group make up part of the holdings, with constant review depending on performance.
Besides ‘Buy Bitcoin’ you will never get any other investment advice from this round-up, however, I am extremely bullish on the ETF and have taken a position. I will be adding to this position on a regular basis.
Nakameowdough has only known about Crypto since late 2017. As soon as he heard about it from a trusted source, he spent the next 14 months with his head buried in books on the subject or listening to a multitude of podcasts.
This dedicated self-development allowed him to pivot from a career in I.T. towards FinTech and he now works with one of the most exciting companies in London, the FinTech hub of the world.
His position within that company affords him the benefit of working with highly innovative businesses and facing the challenges of integrating exciting solutions, with old systems.You can reach Nakameowdough on Twitter
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