Private Equity Moris Beracha Wuani

Facebook is set Tuesday to unveil a bid to bring cryptocurrency payments into the mainstream, reportedly with the endorsement of governments and financial giants. The world's biggest social network is expected to outline details of a virtual currency launching next year that it hopes will avoid the rollercoaster volatility of "blockchain" technologies such as bitcoin. Facebook is setting up a consortium called "Libra" which, according to the Wall Street Journal, has been joined by more than a dozen companies including Visa, Mastercard, PayPal and Uber. The companies along with venture capitalists and telecommunications firms will reportedly invest around $10 million each into the consortium. Facebook has been trying to ward off hostile regulatory scrutiny after a series of privacy abuses and the spread of fake news. The consortium will be managed externally and will seek to build trust among consumers by pegging the virtual coin to a basket of c...

Artificial Intelligence is helping increase financial aspects in the business world It is also helping growth and productivity. Artificial intelligence, among other things does change the economy and jobs in related fields. Top app development companies are working to continually improve machine learning. By using the human expertise in different fields, they can separate the large and complex problems into smaller sections, then give the machine a few models for learning to find the important information that will solve the problem in a quicker fashion. Machine learning tries to garner knowledge from humans, instead of just using the knowledge from sets of data alone. For example, the human will break apart a bigger problem into smaller portions then input lessons to aid the algorithms in finding the solution. Machine learning enables top app development companies or experts in different subject matter to teach and input information that is critical for ...

By Dennis Wafula  Advancements in blockchain technology are proving beneficial in the financial industry. The most recent progress is the introduction of the Finledger blockchain platform, which allows processing of promissory note loans. According to a news release dated May 21, this new application for this type of legal binding loan agreement will be very beneficial to the entire financial industry. The test stage involved four banks, DekaBank, dwpbank, DZ Bank, and Heleba, who used finledger technology to complete note transactions. Reportedly, the platform can reduce the processes involved when issuing such notes by more than 50%. Marion Spielmann, Head of Banking & Depositary at DekaBank, said:   “The opportunities offered by using a blockchain take the product promissory note loan to a whole new level. Together with the other institutes, we have now successfully implemented a digitization project that allows our customers and us to han...

By Abhimanyu Krishnan The government of German state North Rhine-Westphalia (NRW) has revealed that it will build the European Blockchain Institute to examine blockchain technology. NRW Economics Minister Andreas Pinkwart said that the research institute will be formed in the city of Dortmund, the press release said.  Pinkwart was also positive on how blockchain technology could help economies, but must not be “energy-intensive”, This technology can be safe, decentralized, affordable and, when used properly, not too energy-intensive. Germany recently announced that it would outline a strategy for the digital assets space , and many countries in Europe are doing the same. France has established some crypto-friendly regulation , and has asked other nations in the EU to take after it .  Certainly, several authorities, both governments and financial institutions, have warmed up to cryptocurrencies and are seeking to leverage the benefits ...

RICK D.   |  A congressman with a track record of bashing crypto has come out once again calling for a ban on digital assets. Republican Brad Sherman supposedly raised the idea earlier today in Congress. This is not the first time this week that someone has called for a ban on digital assets. However, without a huge international effort from authorities, the chances of such legislation proving effective are remote. Is the Crypto Narrative Changing from Ridicule to Fear for the Powers that be? According to a video posted to Twitter by crypto education group Coin Center, a congressman with a history of being opposed to digital currencies has once again raised the possibly of a ban on the technology. In the video, Republican Brad Sherman states with surprising candour: “I look for colleagues to join with me in introducing a bill to outlaw cryptocurrency purchases by Americans, so that we nip this in the bud, in part because an awful lot of our internation...

By Moris Beracha .- Years ago, Artificial Intelligence (AI) left the realm of science fiction to enter our lives and, although it is still in the early stages, its rise will lead to a boom comparable to the advent of the Internet in the past. According to experts, this technological innovation “is the combination of algorithms to create machines with human-like skills”. Faced with this reality, the leader in delivering enterprise software, IFS, announced the connection of new AI-enabled and collaborative integrated systems with tailor company systems to gain the crucial intelligence of larger financial markets and industries in real time, delivering massive financial and strategic value by 2019. “Systems like IFS Enterprise Operational Intelligence (EOI) will become essential as large corporations become more entwined with world markets and the pressure to turn data investments into value increases,” said Steve Treagust IFS Global Industry Director for Finance, HCM ...

Ian Allison Online payments giant PayPal has made its first-ever investment in a blockchain technology company.  Announced today, PayPal has  joined the extension of a Series A funding round in Cambridge Blockchain, a startup that helps financial institutions and other companies manage sensitive data using shared ledgers. Neither PayPal nor Cambridge Blockchain disclosed the investment amount, but recent filings with the SEC indicate that Cambridge Blockchain has raised a total of $3.5 million in new equity from several investors over the past nine months. That follows the $7 million close of its Series A in May of 2018, and brings the total capital raised to $10.5 million. That first $7 million consisted of $4 million of new capital plus $3 million of converted notes , and came from several investors, including HCM Capital, the VC arm of Foxconn, which manufactures the iPhone for Apple, as well as Digital Currency Group. The subsequent $3....

By Tanya Abrosimova While Russian lawmakers are dawdling on passing a law on financial digital assets, business is looking cryptocurrency and blockchain technology adoption.  Thus, a prominent Russian billionaire and the owner of Norilskiy Nickel Vladimir Potanin in a recenet interview announced the plans to launch blockchain-based platform and potentially issue a crypto token backed by palladium, Bloomberg reports.  Being the world’s top producer of palladium, Nornikel wants to inspire innovations in the industry and lead the new technology adoption and inspire. Currently, the company plans to issue tokens via its Switzerland-based palladium fund and holds the talks with the Swiss government.   “People more and more tend to use decentralized networks and platforms that don’t have a main operator,” he said. “We want to be active participants of this process,” as trading in digital tokens has many advantages, Potanin...

By Ana Berman An official from Spain’s central bank , the Bank of Spain (BDE) believes that Bitcoin ( BTC ) is unable to resolve the problems faced by major payment systems. BDE’s Deputy General Director for financial innovations and market infrastructure, Carlos Colesa, gave his opinion on the leading cryptocurrency in a report published on Sunday, Feb. 17. The study dubbed "Bitcoin: a solution for payment systems or a solution in search of a problem?," is marked as an “occasional paper,” according to Cointelegraph en Español . This  means that the Bank of Spain does not necessarily share the stance of the author. Colesa compared Bitcoin to traditional payment systems and financial intermediaries. First, he says that the Bitcoin blockchain processes only 250,000 transactions daily, which is a relatively small volume for a global system. For instance, major Spanish retail system, the Sistema Nacional de Compensación Electrónica (SNCE), reportedly...

By Max Yakubowski     A South Korean financial authority has warned two major domestic banks about their lack of management of cryptocurrency transactions and Anti-Money Laundering ( AML ) regulation, local online media outlet The Daily reports Dec. 4. The Financial Supervisory Service (FSS) has reviewed Kookmin Bank and Nonghyup Bank and found “unreasonable elements related to virtual [currency] handling business.” However, the article notes that the regulation standards are not clear, and the FSS’s order applies only to some accounts that have been contracted with a real-name verification service, not crypto counterparty (exchange) accounts. The banks have also received orders for improvement and must submit the measures to the FSS within three months. The article notes: “If the FSS considers that the content is insufficient, the FSS will be able to impose more direct sanctions in the future.” In addition, the article states that there is a prob...

By Moris Beracha . - PDVSA’s partner companies involved in joint ventures, as well as financial analysts and investment bank economists, including consulting firms agree on questioning President Maduro’s announcement revealing that the Bolivar Soberano’s stability, which will start circulating on August 20, will be anchored to the oil-backed Petro (PTR) digital currency. “There is a very clear executive order issued by the US Government banning transactions involving Venezuela’s Petro and it is applicable to any transaction with the Venezuelan Government or PDVSA related to the use of that cryptocurrency,” said a source from one of the partner companies of Petróleos de Venezuela. “Neither Chevron, nor any of the European companies, including Rosneft, CNPC or Indian companies such as ONGC or Reliance will accept any transaction in Petros,” it said. According to the source, in several meetings, the PDVSA authorities have considered the possibility of using...

By Moris Beracha .-  For several months, different companies in China have been recruiting Blockchain experts, due to the significant restoration of the lost confidence of users and financial institutions in these technological processes. It should be noted that Blockchain is a distributed ledger technology that securely and immediately processes economic transactions, making intermediaries unnecessary. According to some human and labor resources organizations, the annual wage for this type of professional profiles is 223,000 euros. The Blockchain, together with the developers of Clouds and Artificial Intelligence, are the sectors of Information and Communication Technologies (ICT) with a greater future and a growth outlook for the next 10 years. In this regard, it should be noted that Hong Kong seeks to attract skilled professionals, and thanks to the country’s particular immigration policy, talented workers with experience in Blockchain techn...

Image of @InfoNebeus By Maria Yavuz Nebeus, the London-based crypto platform, has launched a 1.1 million pound ($1.45 million) crowdfunding campaign as they set out their ambitious goal of bringing financial services to people around the world. According to the World Bank, there are 1.7 billion adults globally who remain unbanked, yet two-thirds of them own a mobile phone that they could use for online banking. The Nebeus’ campaign went live on Sept. 24, 2018 and has already attracted more than 400,000 pounds ($527,490). The goals of the campaign Backed by industry expert Brett King, the Nebeus campaign will last until October 23, 2018. Currently operating in 45 countries, they now plan for expansion across Europe, Asia and South America. The company wants to make banking simple for people and encourages a wider use of cryptocurrency in everyday spending, offering user-friendly Bitcoin wallets and its recently launched Exo card. The new prepaid card allows users to s...

By Moris Beracha  / El ciudadano At present, several accounting technology businesses are working with the world's big sports emporiums, in order to optimize the sale of tickets and thus prevent fraud. In this regard, the Union of European Football Associations (UEFA) announced the successful trial of a blockchain-based ticket distribution system. According to the highest football authority in the old continent, the system was trialed at the European League final, between Spanish teams Real Madrid and Atlético de Madrid held in Tallinn, Estonia. They stated that a blockchain-based Android and iOS app was used to successfully provide and distribute tickets to fans attending the game. UEFA’s statement posted on its website also explains the system aims to provide a secure framework for ticket distribution, thus preventing the replication and duplication of tickets, by fraudsters that harm the main sport. UEFA says it will continue to develop the technology and...