‘Bitcoin’ and ‘Etherum’ are the hottest keywords these days. They are mentioned in most of the conversations, and people’s interest is also rising rapidly.
After observing its price increase, those who ignored Bitcoin in the first place without knowing anything about it are now regretting their decision of not acting quickly to enter the market
Even the president of JP Morgan, Damian, said on October 17, 2017, that ‘Bitcoin is a fraud’, but just after three months, commented, “the blockchain is real and virtual cryptocurrency is possible,” and, “I regret saying that Bitcoin was a fraud,”
However, unlike the rapidly growing market, it is true that the level of exchanges is still lagging behind. No stability of the exchanges could be found with their frequent delays in trading, transmission delays and errors. Would we be able to trust and trade through these exchanges?
In addition to these transaction problems, there is also the risk of hacking, and it’s impossible to know whether the exchanges are actually storing the coins bought. The situation is desperately calling out for ‘blockchain bank’, the next step beyond the exchanges.
‘ABLE’ has completed the establishment of a banking corporation in Estonia, a country that is actively introducing blockchain, and is also planning to advance into the card business through this foundation, which can be settled by cryptocurrency.
Currently, the blockchain businesses related to cards (Ten-X, Motaco, etc.) are experiencing difficulties in business due to them not having their own bank. If you do not have a bank foundation like ‘ABLE’, proceeding with cryptocurrency settlement is difficult, and can only result in lack of stability.
CEO of ABLE, Myungsoo Kim, said, “We plan to expand branches and launch an online business with Asia as the pivotal point in 2019, and plan to advance into all countries around the world. At the same time, we plan to expand our business through partnerships with companies involved in the 4th industrial revolution, such as VR and AI.”
Above this, it plans to build the first blockchain fund in the world. Blockchain funds are going to be designed to allow investment in the desired sectors, such as ‘platform’ (eg, Ethereum, Quantum, etc.), ‘prediction’ (eg, Byte Ball), and ‘casino’ (Fun Fair, Edge), making it more stable and possible to make long-term investment.
Currently, prospective coins such as ‘Duck’ and ‘Akasha’ are difficult for individuals to invest early, but they can indirectly become institutional investors through the fund, allowing them to avoid risks of brokers and see high return on investment without the hassle of requiring to use KYC (KNOW YOUR CUSTOMER) or MEW (MY ETHER WALLET).
Individual investors are currently trend trading and are likely to see greater losses than profits. The blockchain specialized funds are expected to help these investors and make it easier for cryptocurrency creditor issuers to proceed with business more reliably.
Japan is actively creating laws and systems related to cryptocurrency and plans to show Japanese cryptocurrencies in the 2020 Tokyo Olympics
Compared to this, domestic support and system are disappointing. It is no exaggeration to say that the understanding of the blockchain by the establishment, which occupies a high position, is ignorant.
I believe it will be a great opportunity to become a global powerhouse if cryptocurrency and blockchain technology could be developed domestically. I hope for a quicker arrangement of support and system, on par with the current expectation of future flooding of international electronic currencies.