Times Realty News

This NYC event will Reveal the Best and Worst Things Entrepreneurs Do to get Attention

Editor — Fri, 19 Jan 2018 21:28:36 +0000

The Soho Loft Media Group supports NYC VCs, Angels and ICOs in New York, New York organized by FundingPost

NEW YORK – Jan. 19, 2018 – Entrepreneurs, family offices, angel investors, and venture capitalists will be converging on January 25, 2018 from 2pm until 6pm in New York, New York for this much-anticipated event.

LDJ Capital Chairman David Drake will be one of the speakers. He says, “I think the initial coin offerings will have a nice revival in the spring as 2-3x exits will attract the new investors in the marketplace.”

The one-day event will feature exhibits, panel discussions, and fireside chats. There will be a cocktail party and several networking opportunities for the delegates to connect with the experts and potential investors. Some of the topics include trends in early-stage investing, how ICOs work, what are the sectors that venture capitalist and angel investors look at, the best and worst things entrepreneurs do, best strategies of ICOs, and how to reach investors.

Some of the other speakers are:

Ali Hassan, Founder, Crescent Crypto
David J. Sorin, Partner, McCarter & English LLP
Joshua B. Siegel, General Partner, Rubicon Ventures
Patrick Lowry, Founder and CEO, Iconiq Lab
Sergey Grybniak, Founder, Opporty
William “Bill” Davis III, Managing Director of Technology, LDJ Capital

Shaun Dindial, Managing Director (Micro Caps) of LDJ Capital will also participate in this event.

The sponsors for this event include McCarter & English LLP, BDO, Crowded, Iconiq Lab, Opporty, Nolcha, DID, and LDJ Capital. The media partners are Garys Guide, VC Experts, Startup Report, Startup Digest, Alley Watch, Disruptive Technologists, Angel Capital Association, National Venture Capital Association, Read Write Web, BoogarLists, and The Soho Loft Media Group.

For more details, visit:

https://www.eventbrite.com/e/david-drake-speaks-at-the-fundingpost-nyc-vcs-angels-and-icos-tickets-41993538805

We invite you to visit www.TheSohoLoft.com/events for more information on upcoming finance events on topics such as cryptocurrency, bitcoin, ethereum, blockchain, initial coin offerings, fintech, crowdfunding, alternative finance, venture capital, angel networks, hedge funds, private equity, family offices, as well as accredited and institutional investors.

MEDIA CONTACT:

THE SOHO LOFT Media Group (www.thesoholoft.com)

The Soho Loft Media Group is a global financial media company with 3 divisions:

THE SOHO LOFT CONFERENCES organizes up to 200+ investor-focused global summits, talks and events annually.

TIMES IMPACT PUBLICATIONS produces relevant content on investing and entrepreneurship that are published and syndicated in 100+ leading online publications and growing.

VICTORIA GLOBAL Communications specializes in client Investor Relations, Public Relations, Branding and Social Media Marketing.

The Soho Loft Media Group is your global partner for your investment and business strategies.

For inquiries, contact info@thesoholoft.com or call 212.845.9652

Blockchain Strategies Straight from the Experts in this NYC event

Editor — Tue, 16 Jan 2018 13:32:47 +0000

David Drake speaks at the Public Blockchain Companies: Opportunities & Strategies from the First Movers to be held in New York, New York organized by Snap Interactive

NEW YORK – Jan. 16, 2018 – Senior managers and CEOs of blockchain-focused firms will converge on January 17, 2018 from 5pm until 8pm in Pryor Cashman in New York, New York for this exclusive investor evening affair.

LDJ Capital Chairman David Drake will serve as one of the speakers. He says, “It is only a matter of time before more institutions will invest in cryptocurrencies. The number of institutional level investment products related to bitcoin is steadily increasing and is expected to continue to do so in 2018.”

The 3-hours evening event will feature panel discussions. RSVP is required as tickets are limited. This will be a great opportunity for blockchain investors to network and connect with the industry’s capital market experts and senior executives. The event will highlight opportunities in blockchain technology.

The event will be hosted by Lou Kerner, an influential Crypto blogger and a former equity analyst at Goldman Sachs. Investor questions will be handled by legal experts from Pryor Cashman LLP, guest speakers from various blockchain firms, and analysts from Zacks.

The sponsors for this event are PCG Advisory Group and Pryor Cashman LLP.

For more details, visit:

https://www.eventbrite.com/e/david-drake-speaks-at-public…

MEDIA CONTACT:

THE SOHO LOFT Media Group (www.thesoholoft.com)

The Soho Loft Media Group is a global financial media company with 3 divisions:

THE SOHO LOFT CONFERENCES organizes up to 200+ investor-focused global summits, talks and events annually.

TIMES IMPACT PUBLICATIONS produces relevant content on investing and entrepreneurship that are published and syndicated in 100+ leading online publications and growing.

VICTORIA GLOBAL Communications specializes in client Investor Relations, Public Relations, Branding and Social Media Marketing.

The Soho Loft Media Group is your global partner for your investment and business strategies.

For inquiries, contact info@thesoholoft.com or call 212.845.9652

The Truth about Digital Asset Investing in Asia in this New York Event

Editor — Mon, 15 Jan 2018 22:28:08 +0000

LDJ Capital and The Soho Loft Media Group support the Digital Asset Investment Forum in New York, New York organized by FinTech4Good

NEW YORK – Jan. 15, 2018 – Senior executives, blockchain based digital asset managers, and industry leaders will converge in New York, New York on January 16, 2018, for this premier global event. The Digital Asset Leadership Committee will be launched in the Forum.

As a founding member of the Leadership Committee, LDJ Capital Chairman David Drake will be one of the Sharks/Judges at the Blockchain Shark Tank in the morning, and a panelist in the plenary on “Good, Bad and Evil about ICOs and How to Do it Right” in the afternoon. He says, “Digital assets continue to allow individuals to have the same freedom of choice that corporations have enjoyed through the years, and more companies have entered into the digital currency space.”

“We are very excited to work with David and other founding members of the Leadership Committee to scale up digital asset investment around the world,” says Xiaochen Zhang, President of FinTech4Good.

The one-day forum will feature workshops and panel discussions. There will be several networking breaks giving the delegates an opportunity to connect and meet potential partners. Some of the topics to be discussed include investing in digital asset; smart contracts for non-technical people; the good, bad, and evil about ICOs; alternative assets in a blockchain era; digital asset investing in Asia; and compliance and standardization.

Together with David Drake, the moderators and panelists include:

Alex Mashinsky, Founder and CEO, Celsius Network
Andrew Keys, Co-founder, ConsenSys Capital
Chao Gao, CEO, NewPay
Jalak Jobanputra, Founder/Managing Partner, FuturePerfect Ventures
Joshua Ashley Klayman Kuzar, Chair of Legal Working Group, Wall Street Blockchain Alliance
Lewis Cohen, Partner, Hogan Lovells US LLP
Lisa Gus, CEO and Founder, WishKnish
Michael A. Kapoor, COO, WishKnish
Patrick Lowry, CEO and Managing Partner, Iconiq Lab
Philipp Pieper, CEO, Swarm Fund
Richie Hecker, Chairman, Crypto Working Group
Svetlana Lebedeva, SVP, Square 1 Bank
Vladislao Shabanov, CFO, Fire Lotto
Xiaochen Zhang, President, FinTech4Good and Founder, Global Digital Economy Council

NewPay is the platinum sponsor for this event. The gold sponsor is FinTech4Good while SGC is the silver sponsor. The event partners are Art Impact Foundation, Alternative Asset Events, WSBA, and Celsius. Some of the digital asset leadership committee partners include LDJ Capital, Swarm, NewPay, and SGC. The media partners include Crowdfund Insider, Blockchain Educators, Cornell Blockchain, Blockchain Frontier Group, Asian Financial Society, and The Soho Loft Media Group.

For more details, visit:

https://www.eventbrite.com/e/david-drake-speaks-at-digital-asset-investment-forum-2018-tickets-42082506911

MEDIA CONTACT:

THE SOHO LOFT Media Group (www.thesoholoft.com)

The Soho Loft Media Group is a global financial media company with 3 divisions:

THE SOHO LOFT CONFERENCES organizes up to 200+ investor-focused global summits, talks and events annually.

TIMES IMPACT PUBLICATIONS produces relevant content on investing and entrepreneurship that are published and syndicated in 100+ leading online publications and growing.

VICTORIA GLOBAL Communications specializes in client Investor Relations, Public Relations, Branding and Social Media Marketing.

The Soho Loft Media Group is your global partner for your investment and business strategies.

For inquiries, contact info@thesoholoft.com or call 212.845.9652

Will the fast growing private markets affects investment management in 2018?

Editor — Wed, 10 Jan 2018 08:17:28 +0000

The Soho Loft Media Group and Victoria Global support the Private Markets Investment Forum in Scottsdale, Arizona organized by Opal Group

NEW YORK – Jan. 9, 2018 – Investment officers, research analysts, family offices, portfolio managers, investment consultants, and other industry experts will attend the Private Markets Investment Forum organized by the Opal Group from January 8 to January 10, 2018 at the Hyatt Regency in Scottsdale, Arizona.

The Chairman of The Soho Loft Media group David Drake says, “This forum will serve as a venue for experts and delegates to learn more about the developments in the private markets industry.”

The three-day event will feature a series of presentations and panel discussions with experts on the issues, challenges, trends, and development in the private market sector. Some of the topics include unicorn venture capital risk, alternative private real estate, fiscal change under the Trump administration, and decoding “Trumponomics.” Opportunities for networking are available throughout the forum, with cocktails after panel discussions and after the event.

Some of the speakers, moderators and keynote persons are:

David Checketts, Managing Partner, Checketts Partners Investment Management
DJ Van Keuren, Vice President, Hayman Family Office
Howard Cooper, CEO, Cooper Family Office
James McGrath, Director of Research, Forbes Family Trust
Josh Roach, Managing Partner, Lloyd Capital Partners
Kevin Coyne, CEO, Canal Holdings
Peter Pry, Executive Director, Task Force on National and Homeland Security
Randy Norton, Managing Partner, Green Mesa Capital
Thomas Forma, Senior Institutional Consultant, Morgan Stanley
United States Senator Paul Strauss, District of Columbia (Shadow)

Dynasty Wealth is the forum’s co-lead sponsor. The AFS and Engineered Tax Service are the executive sponsors. The forum’s general sponsors include 500 Startups, Abom Inc., Aspenwood Capital, Bassett Creek Capital Inc., Momentum Investing LLC, Metropolitan, Morse Energy Capital, Pennant Park, RRA Capital and Safety, Income & Growth Inc. Encore Energy is the exhibitor sponsor. Together with The Soho Loft Media Group, the media sponsors include Alpha Journal with Shoot you, Automated Trader, Caproasia Online, CrowdReviews com, The DI Wire, FINTRX Family Office Networks, FocusEconomics, Global Banking & Finance Review, TheGRCBluebook, Hedge Connection, IntegriDATA, Private Banking.com, and SmartMoneyMatch.com.

For more details, visit:

https://www.eventbrite.com/e/tsl-supports-opal-group-private-markets-investment-forum-2018-tickets-41641922110

MEDIA CONTACT:

THE SOHO LOFT Media Group (www.thesoholoft.com)

The Soho Loft Media Group is a global financial media company with 3 divisions:

THE SOHO LOFT CONFERENCES organizes up to 200+ investor-focused global summits, talks and events annually.

TIMES IMPACT PUBLICATIONS produces relevant content on investing and entrepreneurship that are published and syndicated in 100+ leading online publications and growing.

VICTORIA GLOBAL Communications specializes in client Investor Relations, Public Relations, Branding and Social Media Marketing.

The Soho Loft Media Group is your global partner for your investment and business strategies.

For inquiries, contact info@thesoholoft.com or call 212.845.9652

The Role of Pension Officers and Trustees Defined in this Summit in Arizona

Editor — Tue, 09 Jan 2018 19:09:55 +0000

Victoria Global and The Soho Loft Media Group support the Public Funds Summit in Scottsdale, Arizona organized by Opal Group

NEW YORK – Jan. 9, 2018 Consultants, fund of funds, benefit and insurance companies, hedge funds, venture capitalists, and public service administrative providers will converge at the luxurious Hyatt Regency in Scottsdale, Arizona on January 8-10, 2018 for this much-awaited event.

Chairman of LDJ Capital David Drake says, “This summit is a platform to discuss the issues concerning public pension. The delegates will learn crucial information straight from the experts and also be able to meet potential clients.”

The three-day event will feature dialogue driven panel discussions. There will be several networking breaks for the delegates to connect and network with the experts and their colleagues. The topics to be addressed include the legal issues facing pension plans, the importance of ongoing education plan sponsors, role of pension officers and trustees in projecting a positive image, public perception of pension plans, and the importance of politics.

The moderators and panelists include:

Art Alfaro, Trustee, Austin Firefighters’ Retirement & Relief Fund
Brad Heinrichs, President/CEO, Foster & Foster, Inc.
Brad Katsuyama, CEO and Co-Founder, IEX
Burgess Chambers, President, Burgess Chambers & Associates, Inc.
Dana Blydenburgh, Director, City of Lakeland Retirement System
David Checketts, Managing Partner, Checketts Partners Investment Management
Jeff Alexander, Founder, Babelfish Analytics
Michael Fitzgerald, State Treasurer, State of Iowa
Thomas Forma, Senior Institutional Consultant, Morgan Stanley

The executive sponsor for the summit is Allianz Global Investors. Some of the general sponsors are SSI Investment Management, TerraCap, Lord Abbett, Babelfish Analytics, J.P. Morgan, DuPont Capital, KBI Global Investors and Capital Dynamics. The media partners include Family Office Networks, IntegriDATA, CrowdReviews, FocusEconomics, Automated Trader and The Soho Loft Media Group.

For more details, visit:

https://www.eventbrite.com/e/tsl-supports-opal-group-public-funds-summit-2018-tickets-41641782693

MEDIA CONTACT:

THE SOHO LOFT Media Group (www.thesoholoft.com)

The Soho Loft Media Group is a global financial media company with 3 divisions:

THE SOHO LOFT CONFERENCES organizes up to 200+ investor-focused global summits, talks and events annually.

TIMES IMPACT PUBLICATIONS produces relevant content on investing and entrepreneurship that are published and syndicated in 100+ leading online publications and growing.

VICTORIA GLOBAL Communications specializes in client Investor Relations, Public Relations, Branding and Social Media Marketing.

The Soho Loft Media Group is your global partner for your investment and business strategies.

For inquiries, contact info@thesoholoft.com or call 212.845.9652

Will the Economic Laws of Supply and Demand Affect Ether after Closure of ICOs?

Editor — Thu, 21 Dec 2017 19:30:34 +0000

Initial coin offerings (ICOs) have gained popularity as avenues for raising funds online. This year, we have seen crowdsourcing up to $232 million through the sale of tokens for use in protocols that these companies promise to set up using the funds. According to CoinDesk, an estimated $3.8 billion has been invested through ICOs, most of it in 2017.

Most of the tokens that are issued during ICOs are developed and sold via Ethereum blockchain. This means all the trading on this platform and all tokens are being tracked using Ethereum blockchain.

As ICO companies begin to develop their applications and grow their businesses on the Ethereum network, there is no doubt that we’ll see increased activity on the network.

“I truly believe that 2018 is the year when Ether will become known and appreciated by the mainstream, as the ecosystem of apps and businesses built upon it start to flourish. As well as the potential of new forms of financing,” says Marcus Vandea, CEO of Playfold.

As was the intention, Ethereum became the main platform where most ICOs are held. This is not only due to its growing popularity but also because the platform launched smart contracts successfully. However, the ICOs that are being held by companies that crowdsource on the Ethereum platform are draining the number of Ethers in the market.

As the law of demand and supply would have it, the reducing supply of Ethers could be triggering the price spikes being currently witnessed. Investors are funding ICOs with the hope of generating profits.

However, once ICO sales are completed, the founders of blockchain backed projects will need paper currency to finance development of their projects. When this starts to happen we are likely to see an inflow of Ethers back to the market. This could result in a lower market capitalization of Ethereum, which will have a negative effect on investor trust.

But can the market correct itself to avert this crisis? Juan Boluda, the COO of ClimateCoin thinks so, “In the market during all history, it’s been a matter of psychology, as this is an offer and demand like any other thing, what may happen now with Ether or bitcoin is that fear of overpricing may make an important correction to occur. After that important correction Ether will be again the place to be as most of the ICOs are based on this coin and obviously people have to buy ethers to exchange for the new coins.”

As the new year unfolds, and many companies that ran successful ICOs settle down to create their blockchain businesses, we can only wait and see how the cryptocurrency market responds.

How would Mainstreaming of Cryptocurrencies Affect the Coin Market?

Editor — Thu, 21 Dec 2017 19:25:45 +0000

With a total market capitalization upward of $625 billion, cryptocurrency is becoming a market force that mainstream banks can no longer ignore. China’s central bank initiated plans to work on its own digital currency, while Singapore has already begun experimenting with the idea.

But as the cryptocurrency market continues to grow, it’s the suggestion made by the Bank of International Settlements (BIS), as well as the recent move by G7 central banks, that hints at future interactions between banks and digital currencies.

A few months ago, BIS encouraged central banks to see whether digital currencies would work for them. Shortly after that, central banks in G7 countries voiced their intention to include cryptos in their foreign reserves.

Could these moves be a result of a realization that fiat currencies are losing value against digital currencies? Sebastian Denis, the FinTech Markets Expert at Decentralized ID, thinks so.

He says, “When the G7 banks realize that their national currencies are devaluing against cryptocurrencies, they will have to include cryptocurrencies in their foreign reserves. Cryptocurrencies will then be accepted as part of the tool that provides financial stability.”

Even so, the devaluation of the fiat currency isn’t the only thing that may be pushing central banks into accepting cryptocurrencies. With the increasing adoption of cryptocurrencies, G7 central banks might also be concerned that digital currencies could make it difficult to trade due to their rising market capitalization.

Andrew Prell, CEO of Silica Nexus, says, “As the market capitalization for cryptos makes G7 trading seem inevitable, it is but one more move to further mainstream non-fiat currencies, potentially adding significant volume to the crypto market and building more mainstream acceptance of crypto trading.”

For many in the crypto market, the entry of G7 central banks into the space signifies growth. Christopher Cummock, Founder and Managing Director of Vaultbank, notes that this will increase the demand for digital currencies, resulting in higher prices.

He says, “Crypto is really reaching its adolescence with this action by central banks and wealth managers now allotting up to 7 percent of clients asset portfolios in alternative currencies. This will create a massive demand and continue to bolster prices of the top 10-15 coins for years to come.”

Mainstreaming cryptos isn’t a bad thing at all. It will boost the acceptance of tokens sold by companies through initial coin offerings (ICOs).

“As trading broadens for major cryptocurrencies, ICO tokens will likely gain acceptance just like equity stock trading did over a century ago,” Prell adds.

It will also broaden the market for ICO tokens as Cummock notes, “Think of when Apple was added to the NASDAQ, it now creates a mandated natural buyer of its stock, so it’s a natural appreciation in pricing simply due to growing market and it needing to be part of so many portfolios. This will also happen to crypto when central banks and main street investors are also demanding allocations.”

Should Central Banks Use Cryptocurrency to Boost their Foreign Reserves?

Editor — Thu, 21 Dec 2017 19:21:33 +0000

Banks across the globe have not been left behind by the cryptocurrency wave. Throughout the year, we have seen some of the biggest banks experiment or plans to utilize blockchain technology, the underlying technology of cryptocurrencies.

HSBC, Credit Suisse and Barclays joined a project called “utility settlement coin” initiated by UBS, a giant Swiss bank, Deutsche Bank, BNY Mellon, NEX, Santander and Clearmatics Technologies in 2015. Through this project, the banks seek to develop an institutional streamlined mechanism of payment backed by the blockchain technology.

This and other projects initiated by the banks may have paved way for central banks to begin rethinking cryptocurrencies, lead to the recent announcement by G7 central banks.

Andrey Tuchkov, the CEO at SOFIN.IO says, “These actions will lead to the growth of the total capitalization of cryptocurrency. And the rumours about it will increase the volumes of long positions on the futures of Bitcoin, which eventually lead to new historical maximums.”

Players in the cryptocurrency space see the move by central banks to boost foreign reserves using cryptos as one that will benefit the coin market in the long run. It will affirm it as an asset class that people can invest in.

“Purchasing cryptos as a hedging mechanism for the performance of their own economies is a wise and advisable position for the G7 central banks to take. Not only does this further validate major cryptos as an investable asset class, it could facilitate a new age of cross-border transactions,” says Patrick Lowry, CEO at Iconiq Lab.

It will be interesting to see how different central banks integrate cryptocurrencies into their foreign reserves. There is a high possibility that monetary policies and approaches will vary from one country to another so it’s a wait and see situation. As Lowry notes, there will be lessons to learn during implementation of monetary policies.

He says, “Some central banks may take a trading position with respect to cryptos in an effort to control exchange rates vs. their own currencies, but they will quickly find implementing monetary policy in a decentralized environment will not be easy, and likely not possible.”

Even so, integration of digital currencies by central banks must be seen in the broader context of the different instruments that these national institutions have in their disposal.

Kirill Bensonoff, partner at Caviar observes, “Overall, it’s a smart move. Cryptos are a small market compared to other more mature instruments that central banks utilize. But I believe this will turn out to be a career-defining, positive move for those central bankers that dare to take a risk.”

Why is Ethereum Gaining Popularity among Mainstream Financial Institutions?

Editor — Thu, 21 Dec 2017 19:13:51 +0000

The value of Ether has increased significantly over the last few weeks to hit the $700 mark this week. This year alone, Ether’s price has risen by 5,000%. Just like Bitcoin, the price of this cryptocurrency is highly volatile, recording frequent fluctuations. Over the past 30 days, Ether’s volatility index stood at 5.26%.

Despite this price volatility, the number of transactions taking place on the Ethereum blockchain is the highest of all the cryptocurrency platforms which are currently active.

“The number of Ethereum transactions per day is averaging twice that of Bitcoin per day, implying greater liquidity,” notes Sheldon Corey, CEO of Arges Inc/Worlds Financial Center.

The high number of Ethereum transactions is a result of its growing adoption. Experts believe that the smart contract functionality embedded in Ethereum’s blockchain could be driving its demand, especially from companies seeking to launch initial coin offerings (ICOs).

“Personally, I think that ETH has a much better growth prospect going forward largely due to Ethereum’s smart contract that is being used predominantly by almost all ICOs, although LTC in the same last one month has shown over 300% growth,” says Jameel A. Shariff, CEO of P2PS.

Further adoption
Ethereum is now enjoying adoption by mainstream financial institutions. Barclays Bank, UBS and Credit Suisse are among top financial institutions that are tapping into the Ethereum blockchain platform.

“On Monday, Swiss banking giant UBS announced it is planning to adopt Ethereum smart contracts as a means of complying with new EU regulations scheduled to begin Jan. 3, 2018,” Corey adds.

This is likely to raise public confidence in Ethereum and further increase its adoption, not only by early-stage companies, but by other mainstream institutions in the financial and technology sectors as well. The effect of this demand will become evident in Ether’s price in the years to come.

“Walletinvestor.com predicts Ethereum will rise to $1190 by this time next year, and to $3095 in 5 years, not too bad considering it has only been around since July of 2015. So, in a volatile and speculative cryptocurrency market, Ethereum may well be the safest bet, because of its greater liquidity, utility and institutional adoption,” Corey says.

Future prospects
Compared to Bitcoin, the Ethereum platform is increasingly being used to develop blockchains in both the technology and finance sectors. This is largely due to Ethereum’s ability to secure smart contracts and carry data.

Commenting on how these two cryptocurrencies compare, Shariff says, “Bitcoin seems to have reached its peak and since has dropped lower. It also seems like it is unable to hold the high levels or even sustain the high levels. It is seen as trading with a negative bias. Is it because it has run out of steam or have the speculators cashed out? Are these good levels for fundamental long-term investors to start looking at taking a positional call on Bitcoin? Or is it better to acquire Ethereum that has more than doubled in a month?”

There is no doubt that the growing adoption and increasing speculation around Ether will continue to push its price upward in the coming years.

Will the Purchase of Cryptos by G7 Central Banks Affect the Coin Market in 2018?

Editor — Wed, 20 Dec 2017 17:53:39 +0000

by David Drake

Come 2018, the Central Banks in G7 countries can start buying digital currencies to strengthen their foreign reserves. This move comes about nine years after the advent of Bitcoin, the world’s leading cryptocurrency whose price already hit the $18000 mark. This is an interesting move considering that for a long time Central Banks have been skeptical about not only investing in cryptocurrencies but also to take its contribution to the global economy seriously.

“Up until now investment in cryptocurrencies has largely been the domain of tech savvy individuals, related to the industry in some regard. Bitcoin’s Market Capitalization hit $318 Billion US on December 16, 2017, that’s larger than the Economies of South Africa, Columbia, Denmark and Ireland. The total cryptocurrency market is about $600 Billion,” says Sheldon Corey, CEO of Arges Inc/Worlds Financial Center.

The possibility of Central Banks buying digital currencies is seen as a win for cryptocurrencies by many. This will most likely lead to increased investor confidence. It will also boost cryptocurrency prices significantly because of the immense ability that Central Banks have to move capital into the coin market.

“As the market capitalisation of bitcoin exceed the value of all supplementary foreign-exchange reserves (SDR) in 2018, central banks will start buying cryptocurrencies to support and strengthen their foreign reserves. This will increase confidence in the crypto market and bolster prices of cryptocurrencies,” Sebastian Denis, FinTech Markets Expert – DID, Decentralized ID observes.

Even so, the growth of the cryptocurrency market isn’t the only thing that makes the move by Central Banks significant. Players in the industry see this as a step in the right direction because it demonstrates the willingness of governments in G7 countries to adopt the blockchain technology and by extension, cryptocurrency.

“It also indicates the beginning of government adoption of crypto/blockchain technology as a valid and important emerging asset class that could ultimately save both unstable developing nations governments, and our own, from their long term unfunded liabilities problem that puts the global economy at risk of fiscal unsustainability as baby boomers retire,” CEO of Galactic Systems and Co-Creator of BitGold, Mike Lorrey says.

According to Lorrey, this has many benefits particularly on currency stability and service delivery. He says, “Conversion of national currencies to national blockchains that not only stabilize currencies but enable the decentralization of government services into smart contracts on national blockchains is the ultimate end that will bring stability and global wealth in this transformational age of the 4th industrial revolution that is blockchain.”

Considering the growth recorded in the crypto market this year, this move by Central Banks could be seen as reactionary rather than proactive.

“Central Bank primary concerns are liquidity, security, and returns, which will eventually force them to act upon cryptocurrency as they realize their currencies are actually devaluing against Bitcoin, Ethereum, Ripple, and Litecoin, whether they like it or not. When Central banks finally decide to hedge their foreign reserves with cryptocurrency, that level of institutional investment into the marketplace will make early adopter levels look like a drop in the bucket, as Voltaire, (1694 – 1778) said ‘Paper money eventually returns to its intrinsic value – zero,” Corey adds.

For crypto enthusiasts and investors, this is definitely an interesting space to watch.