Blackrock accompanies with DAH, KOOBANK, getting in thousands billion dollar of cryptocurrency market

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In the past two years, various types of cryptocurrencies have emerged in an endless stream, but there are 1,000 kinds of initial issued currency names that are in existence and lose transaction value. Bitcoin, which currently has the largest market value, has experienced dark moments in the past year. According to CoinDesk, the current price of Bitcoin has fallen by more than 70% from the highest point of nearly $20,000 in December last year.

KOOBANK, getting in thousands billion dollar of cryptocurrency market
KOOBANK, getting in thousands billion dollar of cryptocurrency market

Coupled with different levels of supervision by governments, as well as bitcoin stolen, hacked from exchange, tardy transaction and other bear news, the market turned negative in 2018. With price violently retraced, the cryptocurrency market suffered in the first half year.

The value and development in expectation of cryptocurrency, however, seem not decrease. According to the report of the Firecoin Blockchain Research Institute, there are three changes in the number of non-digital currencies: First, it will gradually shift from investment-driven to “investment + utility”. Second, the demand for various types of application scenarios will be more digitally tokenized, which stimulates most of the digital asset tend to be tokenized by blockchain technology.

Third, the utility requirements and the interaction between the various Dapp and blockchain ecosystems are increasing.

At present, most of the cryptocurrency investors are still retail investors. The whole market is lacking of professional investment institutions. Those who focus on the future global digital asset management projects are overtaking in the corner.

In one hand, they are using the blockchain to transform the traditional fund management model, in another hand is to invest in digital assets on the blockchain. Due to this, some new stand on the tip of the pyramid in the field of cryptocurrency assets management.

BlackRock, which manages $6 trillion in assets, recently announced the formation of a special group to study bitcoin asset management and formally enter the field of digital asset management.

Digital Asset Holdings, a blockchain startup led by former JPMorgan executive Blythe Masters, received a huge $52 million investment in Series A financing, including financial giants Citigroup, JPMorgan Chase, and Santander World-class financial institutions such as Bank of Germany.

Guo Taiming, the founder of Foxconn, who just landed in A shares, has already laid out the blockchain and digital assets. Billionaire Mike Novogratz’s digital currency commercial bank completed a financing of 250 million US dollars, Hon Hai’s investment subsidiary participated in the investment of 500 million Taiwan dollars. At the same time, in order to get through all the links in the future, Guo Taiming also said that Foxconn is actively promoting the development of blockchain finance, cryptography and consensus mechanisms in the blockchain, which will provide technical support for supply chain finance.

KOOBANK is known as the world’s first digital asset investment bank, which is based on blockchain technology and founded by former executives from prestige companies such as JPMorgan, VISA, IBM, Standard Chartered Bank and Microsoft.

With the assets of the consortium, it operates global asset investment and allocation. Based on blockchain technology, KOOBANK also manages digital asset investment fund, FOF, blockchain research institutes, digital asset management chain, and blockchain industry innovation centers that are deployed globally.

It aims to help global cryptocurrency investors achieve long-term stable return on investment and become “Blackstone” in the field of digital assets.

In the traditional financial sector, the asset management industry has been known as a trillion-dollar market. The Berkshire Hathaway Incorperation is the world’s top asset management company, with Blackstone assets up to $5 trillion, surpassing annual GDP of Japan, the third biggest economy.

It is foreseeable that in the future, the field of digital assets will also support the birth of a huge asset management market.

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Manpreet Arora
Manpreet Arora is the Founder of HitechWiki. He loves technology and oversees the whole website. He has been a part of HTW from the start and is responsible for finding innovative ways to engage readers. He knows the ins and outs of the Technology market and often talks directly with most guys in Industry. He is also an established entrepreneur.

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