Private Equity Moris Beracha Wuani

By Moris Beracha .-The Venezuelan government has carried out a massive advertisement campaign nationally and internationally, to promote its crypto asset called “Petro”, which has taken center stage, since it is used and anchored to the local currency and accounting unit in the finances of the South American nation. Not only is the referred token commercialized in the country, which is backed by the huge oil reserves, but also digital entrepreneurs have decided to develop new cryptocurrencies that allow Venezuelans to protect their money in the face of a serious economic crisis that could not be controlled by the administration of President Nicolás Maduro. In this sense, the head of the Venezuelan Association of Cryptocurrency (Asonacrip), José Álvarez, has stated in different media “there is a modest number of successful developments beyond the petro in Venezuela.” It should be noted that in addition to bitcoin, dash and the bolivar, Venezuelans have ...

Bruce Flatt put Wall Street’s biggest private equity players on notice that the Canadian juggernaut was coming for them three years ago. The head of Brookfield Asset Management Inc. told Bloomberg Television then that his firm -- pushing into private equity -- should be mentioned in the same breath as Blackstone Group LP , Carlyle Group LP and KKR & Co. It was an unusually brash statement from the understated Winnipeg native. He’s more than backed it up. On Wednesday, Brookfield Asset Management agreed to buy a majority stake in Oaktree Capital, a move that will create a $475 billion alternative-investing behemoth. That’s more assets under management than any of the other blue-chip buyout firms reported at year-end. The transaction caps a flurry of deal-making across Flatt’s investing empire of four publicly traded companies focused on real estate, infrastructure, renewable energy and private equity. “I don’t think Brookfield has grown quickly,...

By Daniel Palmer A Brazilian investment bank is planning to raise millions of dollars through the offering of a security token. In an announcement Thursday, Banco BTG Pactual said it will back its blockchain-based token with distressed Brazilian real estate assets, with the expectation of raising up to $15 million. It will also establish a secondary market following the sale in order to provide liquidity to the tokens. The offering will allow investors to invest in the Brazilian real estate market and, based on the performance of the tied assets, receive periodic profits. International investors will be able to purchase the token, called ReitBZ (RBZ), through a “low-cost, tax-efficient structure,” said the bank. BTG Pactual CEO, Roberto Sallouti, said: “The technology associated with this offering allows us to be a pioneer in providing access to asset classes that have historically been difficult for global retail...

Anna Baydakova General Motors Financial, the financing arm of the automaking giant, said Monday that it is partnering with blockchain startup Spring Labs on solutions for identity verification. The startup – which counts former Trump economic advisor Gary Cohn on its board of advisors – said that GM is exploring the acquisition of a stake alongside other use cases. A spokesperson for GM Financial declined to comment on the possibility of GM or its subsidiary becoming a Spring Labs shareholder. “We are actively exploring the development of auto finance and GM specific use cases, in addition to the identity verification products being developed,” co-founder and CEO Adam Jiwan said via a spokesperson. He added that the blockchain network Spring Labs a working on at the moment will be available in private beta for the partners inQ3, and the live network is scheduled to launch in early 2020. In a press statement, Mike Kanarios, chief strategy off...

IT COSTS more money to make bitcoin than the cryptocurrency is worth. Producing a single bitcoin now costs $4060 on average, but it is valued at less than $3500, according to an analysis by JPMorgan Chase. Bitcoin relies on volunteers to process transactions. Their computers race to solve a mathematical puzzle once every 10 minutes. Finding a solution processes a batch of transactions and whoever gets there first is rewarded with some bitcoin. Purchasing and running these computers is expensive. As more people joined the race, the puzzles have become harder to solve, requiring more computer power. It is estimated that the bitcoin network uses as much energy as Ireland. Bitcoin’s price has tumbled in recent months from a high of nearly $20,000 in 2017. The result is that processing transactions is no longer profitable. However, this will probably cause people to drop out of the race, making it easier and economically viable again. Published in: https://...

By Moris Beracha .-  In spite of the financial sanctions imposed by the United States, the European Union and other countries of the world on the government of Venezuela, the president of the Latin American country, Nicolás Maduro, is seeking to find resources through the cryptocurrency Petro. It is important to mention that this token, which is backed by certified oil reserves and precious metals lacks international confidence, which is fundamental for obtaining economic benefits. Despite the complicated scenario, the so-called “Bolivarian and revolutionary” government announced that from October 29, 2018, Venezuelans or any citizen in the world will be able to buy the Petro with convertible currencies such as the dollar, the yuan or the euro and with bitcoin, Ethereum, Nem, among others. In this sense, the vice president for the economic area, Tarek El Aissami, said in a press conference that whoever wants to buy petros with other cryptocurrenci...

Moris Beracha .-  The discussion on the regulation and use of cryptocurrencies in Europe and other countries worldwide is ignited and many countries regard these digital assets as significantly important in the economic future of countries. At the meetings of the General Assembly of the United Nations Organization, held in New York City this 2018, the Prime Minister of Malta, Joseph Muscat, said that digital assets will inevitably be the future of money thanks to Blockchain technology and for that reason the governments of the world should pay special attention to this issue. “I passionately believe technology revolutionizes and improves systems. That’s why in Malta, we have launched ourselves as the Blockchain Island. By being the first jurisdiction worldwide to regulate this new technology that previously existed in a legal vacuum. Blockchain makes cryptocurrencies an inevitable future of money. More transparent, it helps filter good business from...

By Billy Bambrough The bitcoin and cryptocurrency world has been closely watching Venezuela over recent years as the socialist country grapples with an economic crisis that has plunged people's lives into chaos. Now Venezuelan President Nicolas Maduro has broken new ground in his efforts to stabilize the country's economy: lopping five zeros off the bolivar, introducing new bills, a name change and linking the new bolivar’s value to the national oil-linked petro cryptocurrency. The official rate for the currency will go from around 285,000 per dollar to 6 million while the minimum wage will be raised some 3,500% in an effort to offset the devaluation shock. The historic devaluation and changes to the currency mean the new minimum wage will be 1,800 sovereign bolivars, instead of 1.8 million old bolivars. Meanwhile, bitcoin and cryptocurrency use in Venezuela has remained far above other countries, with transaction volumes climbing since the beginning of this year, accordi...