Crypto Loans – Innovative Words http://innovativewords.com/ Sun, 19 Sep 2021 16:25:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://innovativewords.com/wp-content/uploads/2021/04/default.png Crypto Loans – Innovative Words http://innovativewords.com/ 32 32 5 Altcoins That Could Change The Way We Use Money https://innovativewords.com/5-altcoins-that-could-change-the-way-we-use-money/ https://innovativewords.com/5-altcoins-that-could-change-the-way-we-use-money/#respond Sun, 19 Sep 2021 15:32:38 +0000 https://innovativewords.com/5-altcoins-that-could-change-the-way-we-use-money/ As you venture into the world of cryptocurrency, at some point you have to consider the concept of money. Once upon a time, we traded with each other, swapping one product for another. Maybe you would give me fish in exchange for potatoes. I could then trade some of those fish for seeds, and so […]]]>

As you venture into the world of cryptocurrency, at some point you have to consider the concept of money. Once upon a time, we traded with each other, swapping one product for another. Maybe you would give me fish in exchange for potatoes. I could then trade some of those fish for seeds, and so on.

As societies evolved, so did our money. We started to use things like cowries or gold as a medium of exchange for goods and services. From there, we finally reached fiat currency, like the dollars or euros that we use today. These have no intrinsic value: a dollar is worth a dollar because we give it that value.

Now we have cryptocurrencies. One way to think of crypto is that it looks like digital cowries: tokens that you can exchange for goods and services.

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How Bitcoin Can Change Our Money Systems

Bitcoin was the first cryptocurrency, and it promised to revolutionize the way we use money. It is not backed by a central bank or a government. And it allows us to make digital payments or transfers without involving a third party, such as a bank. Money can be moved faster and with lower transaction costs.

Over 11,000 alternatives to Bitcoin (known as “altcoins”) followed in its wake, and a new decentralized finance (DeFi) industry flourished. DeFi removes intermediaries from traditional financial services. For example, crypto holders can take out a loan without going through a traditional lender, earn interest without opening a bank account, and purchase insurance without going through a broker.

Here are five altcoins pushing the boundaries of how we use money.

1. Aave (AAVE)

Decentralized lenders like Aave exclude traditional lenders from the lending process. Borrowers do not need to pass a credit check or fill out any paperwork. Instead, they post a crypto collateral and enter into a smart contract (a self-executing piece of code that lives on the blockchain).

Crypto holders can earn interest on their assets by contributing them to the loan pool. The rates they can earn are higher than traditional savings accounts, as are the risks.

2. Compound (COMP)

Compound is another top DeFi lender that works the same way. According to DeFi Pulse, which tracks the performance of different DeFi platforms, Compound has less total assets deposited on its platform than Aave. (As of this writing, Aave topped the list with $ 16.12 billion, while Compound had $ 10.35 billion.)

3. Ripple (XRP)

Ripple is an international digital payments network looking to replace SWIFT (the current standardized money transfer system favored by banks). If Dogecoin (DOGE) is the people’s crypto, Ripple is the bank’s crypto.

Ripple makes it easy to transfer any currency, be it dollars, Swiss francs, or Aave tokens. Sadly, he landed in hot water with the Securities and Exchange Commission (SEC), which enforces securities laws and protects investors. He argues that XRP is security rather than cryptocurrency. (Most cryptocurrencies are classified as commodities, so they don’t have to follow the same rules as securities.)

4. Stellar lumens (XLM)

Stellar was created by Jed McCaleb, one of the co-founders of Ripple. Like Ripple, it aims to facilitate low cost money transfers. However, Stellar is aimed at people rather than institutions. This could be particularly powerful in developing countries where many people do not have access to traditional banking services.

5. Nexus Mutual (NXM)

Unfortunately, as cryptocurrency gains in popularity, scams, hacks, and crypto thefts are on the rise as well. Cryptocurrencies don’t have the same protections you would get with a traditional bank or broker. As a result, crypto insurance is increasingly important.

And, unsurprisingly, there are a growing number of decentralized insurers. Indeed, insurance brokers as we know them could become a thing of the past. Those smart contracts that we mentioned earlier? They don’t always work as expected. Nexus Mutual covers smart contract failures and exchange hacks.

The association aims to bring back a community approach to insurance and reduce administrative inefficiencies. Unlike traditional insurance brokers, NXM token holders jointly assess claims, which are then paid from a central pool. Unfortunately, the token is not available from major US cryptocurrency exchanges.

Changing the way we use money

Whether it’s banking services, money transfers, loans, or insurance, these and other cryptocurrencies could transform the financial landscape. But like all cryptocurrencies, they are volatile and high risk investments.

It is not yet clear how this space will evolve, and there are a lot of moving parts. Authorities around the world are considering how DeFi should be regulated to ensure consumer protection. Governments can launch their own centralized digital currencies. And the technology itself continues to develop rapidly, so these parts can be replaced with newer ones.

That said, DeFi is an exciting area with huge potential, so it’s worth putting these coins on your watchlist.


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New housing regulator could make the American dream more accessible to millions: NPR https://innovativewords.com/new-housing-regulator-could-make-the-american-dream-more-accessible-to-millions-npr/ https://innovativewords.com/new-housing-regulator-could-make-the-american-dream-more-accessible-to-millions-npr/#respond Sat, 18 Sep 2021 09:00:54 +0000 https://innovativewords.com/new-housing-regulator-could-make-the-american-dream-more-accessible-to-millions-npr/ Homeownership is the most common way for Americans to build wealth during their lifetime. Amanda Voisard for the Washington Post via Getty Images hide caption toggle legend Amanda Voisard for the Washington Post via Getty Images Homeownership is the most common way for Americans to build wealth during their lifetime. Amanda Voisard for the Washington […]]]>

Homeownership is the most common way for Americans to build wealth during their lifetime.

Amanda Voisard for the Washington Post via Getty Images


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Amanda Voisard for the Washington Post via Getty Images


Homeownership is the most common way for Americans to build wealth during their lifetime.

Amanda Voisard for the Washington Post via Getty Images

The Biden administration is set to announce the appointment of a key regulator with broad powers to change the $ 11 trillion mortgage market and reshape the American dream of homeownership, sources told NPR.

The administration has restricted the number of candidates to head the Federal Housing Finance Agency, or FHFA, according to sources familiar with the matter but who are not authorized to speak publicly.

Although not known, the agency has enormous power as it controls Fannie Mae and Freddie Mac, the two entities at the heart of the mortgage market. They largely decide who is eligible for a home loan and at what price.

And because of the rules put in place after the Great Recession, the FHFA chief has almost one-sided control to order Fannie and Freddie to change policies or launch new initiatives.

You never know how the appointments will unfold. But for now, two main contenders for the post are Sandra Thompson, now interim director of the FHFA, and Mike Calhoun, president of the nonprofit Center for Responsible Lending.

Prior to joining the FHFA, Thompson spent decades in government, most notably as a banking regulator with the Federal Deposit Insurance Corp. She worked there on risk management and consumer protection.

Calhoun also has decades of experience, but more as an outside watchdog pushing for change and has focused on expanding homeownership opportunities through Fannie and Freddie.

NPR asked the two for comment, but neither would, as is often the case with potential candidates.

Restructure mortgages and make it easier for tenants to become homeowners

Anyone who gets the job of director of the FHFA will have powerful levers to reshape homeownership, which is the most common way for Americans to build wealth in their lifetimes.

Many housing economists would like the agency to pave the way for more alternatives to the 30-year mortgage. It’s a holdover from a time when people stayed in their homes much longer and could build up equity and wealth with a 30-year loan.

These days people tend to move and sell their homes more often. A 15- or 20-year loan allows homeowners to pay less interest and accumulate much more equity and wealth in their home before they sell it.

However, 15 and 20 year loans have higher payments. But Fannie and Freddie might have to cut those costs in ways that help people take out some type of loan that helps them build wealth faster.

Many advocates also want the FHFA to tackle racial disparities in homeownership, which are as severe as they have been for decades.

“The homeownership rate for African Americans is really where we were in the 1960s, when the Fair Housing Act was passed,” says Andre Perry, senior researcher at the Brookings Institution who studies active in predominantly black towns.

He says the homeownership rate for blacks is around 46%, compared to around 76% for white homeowners. “Why you see this kind of discrepancy is because historical discrimination has prevented black people from accumulating wealth.”

On Saturday Fannie and Freddie started to consider a tenant’s on-time payments to their owner as a means of establishing their creditworthiness.

Perry says the government could do a lot more, like offering money to help with down payments for qualified first-time home buyers.

Both of these programs would help many people, but especially black and Latino homebuyers, who tend to have less family wealth.

The new director could tackle many other issues, even tackling climate change. Homeowners who have installed solar panels on their roofs or made other improvements to reduce their carbon footprint may be eligible for lower mortgage rates.

Fannie and Freddie might be brought in to help out some of the more modest owners. Families living in mobile or manufactured home parks could access lower cost loans, which would make home ownership more affordable and sustainable for them.

Plus, Fannie and Freddie could access billions of dollars for these and other initiatives without an act of Congress. That is, if the new manager pushes for it.

“I’m excited,” Perry said. “This is an administrative problem, so if Biden is serious about closing these racial wealth gaps, improving homeownership rates, he will find a leader who will make the necessary changes.”

Conservative housing expert: Easier loans are not the answer to the problem of supply and demand

Of course, whoever is appointed will face confirmation from the Senate. And some of the power the new FHFA director will wield is baffling for the Tories.

“It could help or hurt, right? It could go both ways,” says Ed Pinto, director of the Housing Center at the American Enterprise Institute. He was a loan officer with Fannie Mae.

Currently, there are not enough homes available for sale in the United States to meet demand, so prices have increased significantly. Pinto says the new manager could make mistakes here even as he tries to help homebuyers.

Making it easier for buyers to get loans in today’s market “would only increase demand without increasing supply,” he says. “It just pushes the prices up.”

Fannie and Freddie, however, could help increase the supply of housing by doing things like providing low-cost loans to builders to buy land and build low-cost starter homes for first-time homebuyers.


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Crypto Stack A happy disruption for the Fintech sector: iSPIRT https://innovativewords.com/crypto-stack-a-happy-disruption-for-the-fintech-sector-ispirt/ https://innovativewords.com/crypto-stack-a-happy-disruption-for-the-fintech-sector-ispirt/#respond Sat, 18 Sep 2021 07:54:39 +0000 https://innovativewords.com/crypto-stack-a-happy-disruption-for-the-fintech-sector-ispirt/ – The Reserve Bank of India (RBI) is an exception pushing the Account Aggregation (AA) policy which can also be replicated for the crypto stack, to help the fintech industry evolve – With the Open Credit Enablement Network (OCEN), we are working on a system for multiple lenders to jointly provide low cost cash flow […]]]>

– The Reserve Bank of India (RBI) is an exception pushing the Account Aggregation (AA) policy which can also be replicated for the crypto stack, to help the fintech industry evolve

– With the Open Credit Enablement Network (OCEN), we are working on a system for multiple lenders to jointly provide low cost cash flow based loans

– Gujarat International Finance Tec-City (GIFT) will be the point of contact for upcoming crypto assets, after which crypto assets can be used in a compliant manner through the OCEN framework, says Sharma

As India prepares for a crypto revolution, a crypto stack is going to be a happy disruption for the fintech industry and to enable this new ecosystem, regulation must shift from pure regulation to technical-forensic regulation, like we did. seen in the case of the Account Aggregator (AA) which is an entity and data regulated by the RBI, according to Sharad Sharma, co-founder of the iSPIRT Foundation.

Two-day conference kicks off – The Crypto Summit by Inc42 Plus and CoinSwitch Kuber, Sharma of the iSPIRT Foundation, which is a think tank for the Indian software industry, said the Reserve Bank of India (RBI) is an exception to push such an account aggregator (AA) policy which can also be replicated for the crypto stack.

“A similar framework, with open source technology and automated trust, can help India grow and is the key to unlocking business potential and disrupting India’s fintech industry,” said Sharma.

Here are some of the key points he, along with Karan Sirdesai, iSPIRT Foundation volunteer, raised at India’s largest crypto summit:

  • With Open Credit Enablement Network (OCEN), we are working on a system for multiple lenders to jointly provide low cost cash flow based loans.
  • OCEN is a new paradigm for credit that seeks to provide a common language for lenders and markets to create innovative financial credit products at scale.
  • The Sakhi Project strives to push money from the crypto markets to the lending ecosystem in the most compliant manner. We Will Bring Crypto and Defi Investors to Lend to MSMEs, Says Karan Sirdesai
  • The Sakhi project will be an open design ecosystem. We see this as a great opportunity for Indian MSMEs and crypto to gain a solid foothold in the market.
  • By using a digital asset pool (DAP), which will be blockchain independent, through a smart contract layer, we want to channel this capital to Indian MSMEs. Indian MSMEs credit opportunity estimated at around $ 300 billion
  • Gujarat International Finance Tec-City (GIFT) will be the point of contact for upcoming crypto assets, after which the crypto assets can be used in a compliant manner through the OCEN framework.
  • A technical-legal framework seen around the Account Aggregator (AA) as well as data in India can help us do the same with the Crypto stack and help ‘hack’ trust in the future.

With around 15 million users and a market size of $ 6.6 billion, India’s crypto industry may not be the largest in the world, but it ranks second in a list of countries with the highest crypto adoption rate. We have seen 3 times the growth in the number of users or investors since 2018 and 7 times the growth in crypto transactions since last year. This underlines the potential that the Indian market may soon unleash.

Better yet, the Indian government is on the verge of classifying cryptos as digital assets, in line with what startups, investors and crypto enthusiasts have called for.

With over $ 216 million in funding in 7 years, India’s crypto and blockchain landscape is maturing rapidly and is finally catching the attention of the general public.


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Stocks are expensive, but it’s not necessarily a deterrent https://innovativewords.com/stocks-are-expensive-but-its-not-necessarily-a-deterrent/ https://innovativewords.com/stocks-are-expensive-but-its-not-necessarily-a-deterrent/#respond Fri, 17 Sep 2021 18:43:38 +0000 https://innovativewords.com/stocks-are-expensive-but-its-not-necessarily-a-deterrent/ Iit is often said that valuation alone is not a reason to buy or sell a stock. This is something to keep in mind at a time when domestic stocks are expensive. This advice deserves to be recalled with disruptive growth assets, such as the ETF ARK Innovation (NYSEArca: ARKK). Home to artificial intelligence, fintech, […]]]>

Iit is often said that valuation alone is not a reason to buy or sell a stock. This is something to keep in mind at a time when domestic stocks are expensive.

This advice deserves to be recalled with disruptive growth assets, such as the ETF ARK Innovation (NYSEArca: ARKK). Home to artificial intelligence, fintech, genomics, and internet companies, among others, ARKK should rarely, if ever, offer reviews that can be considered “cheap”.

This might ultimately prove to be correct, because while domestic stocks, including many ARKK holdings, are richly valued on a price / earnings (PE) basis, there is more to be said.

“We would like to make two points on this front: First, analyzes of multiples of PE versus returns over different time horizons have shown that PE has little ability to predict short-term returns (think one to three years) but has a greater predictive power over the longer term (think five to 10 years) ”, according to BlackRock research. “This makes sense since EPS estimates are variable and the shorter the horizon, the greater the margin for anomalies. This year will be such an aberration.

Several factors are added to the ARKK case. First, as the business cycle changes and GDP growth slows, investors are likely to want higher growth stocks, of which ARKK has a lot. Second, with bond yields so low this year, stocks are much more attractive. In fact, the biggest risk might be to embrace Treasuries rather than growth stocks.

“Second, we think PE is a less informative measure than equity risk premium (ERP), which values ​​stocks based on the prevailing 10-year Treasury rate,” adds BlackRock. “The ERP assesses whether investors are compensated for the higher risk of stocks compared to ‘risk-free’ government bonds. The ERP has been well above its long-term average over the past 10 years, suggesting that stocks are undervalued for the relative risk / reward ratio they offer. “

As BlackRock notes, the ERP was 3.5% at the end of last month compared to a long-term average of 2.1%, meaning Treasury yields are expected to rise by at least that much for justify the abandonment of actions in favor of bonds. .

ARKK could be an ongoing rebound story as its healthcare holdings lag behind this year, but the cases of these names remain intact. Likewise, some of the fund’s other components are referred to as “pandemic coins” when in reality these companies have enviable growth trajectories with or without COVID-19.

For more news, information and strategy, visit the website Breakthrough technology channel.

Learn more at ETFtrends.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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How to Perform 2 Types of Crypto Trading, by billionaire Bankman-Fried https://innovativewords.com/how-to-perform-2-types-of-crypto-trading-by-billionaire-bankman-fried/ https://innovativewords.com/how-to-perform-2-types-of-crypto-trading-by-billionaire-bankman-fried/#respond Fri, 17 Sep 2021 08:30:00 +0000 https://innovativewords.com/how-to-perform-2-types-of-crypto-trading-by-billionaire-bankman-fried/ Sam Bankman-Fried traded lucrative crypto arbitrage opportunities and became a billionaire at age 29. The CEO of FTX spoke to Insider about the 2 types of trading opportunities in the $ 2 trillion market today. He also explained why he is “a big fan of Solana” amid the rise of decentralized finance. In just four […]]]>
  • Sam Bankman-Fried traded lucrative crypto arbitrage opportunities and became a billionaire at age 29.
  • The CEO of FTX spoke to Insider about the 2 types of trading opportunities in the $ 2 trillion market today.
  • He also explained why he is “a big fan of Solana” amid the rise of decentralized finance.

In just four years, Sam Bankman-Fried has become the richest person in crypto with a net worth of $ 16.2 billion and an empire that encompasses a crypto hedge fund, centralized and decentralized exchanges, as well as high-profile sports and esports sponsors.

In 2017, Bankman-Fried, a former trader at the Jane Street International ETF Bureau, started a crypto-trading company called Alameda research, which now manages more than $ 1 billion in digital assets. In 2019, he co-founded FTX, a crypto exchange that was last valued at $ 18 billion after a funding round of $ 900 million in July.

The majority of his wealth is tied up in FTX equity and tokens (FTT), according to Forbes, but the 29-year-old billionaire’s rapid rise also has a lot to do with his $ 1 million trades which generated daily returns of 10% or $ 20 million in 2017.

At the time, there was no

liquidity
in crypto, but massive excitement and attention enveloped the market as the price of bitcoin rose amid a raging bull cycle, Bankman-Fried recalled.

“For the first time, there is an absolutely huge volume and flow of crypto. People were buying and selling a lot of tokens, but there were no liquidity providers or very few of them,” a- he told Insider in an interview with SALT NY Conference.

Lack of liquidity has created lucrative arbitrage opportunities that exploit so-called bitcoin kimchi bounty, Premium Japan, and even price differences on two different US stock exchanges.

“You just see a lot of retailers come in and buy on one platform, the price would go up there and the liquidity providers couldn’t handle it,” he said. “This market, which has completely diverged from other markets, has created a great trading opportunity, a great trade-off which ultimately means that customers have not been able to get good prices on their transactions.”

The crypto market has become much more liquid today, as crypto-native liquidity providers like Alameda and other multi-asset liquidity providers such as high-frequency and quantum trading companies have entered the market. crypto trading for the past four years.

“Collectively, the capital at stake to keep the markets online has been able to move closer to the capital deployed in crypto so that the markets have less dislocations, less arbitrage, fewer good trades, but fairer prices and more. volume, ”he said. .

The 2 types of crypto trading opportunities today

As the crypto market becomes more liquid, trades that generate 10% daily returns are no longer available, even to the most resourceful traders. But as transaction volumes increase, making millions a day is still the reality for many crypto whales.

Bankman-Fried observed that arbitrage traders are more likely to see a divergence of 10 basis points, or a tenth of a percent, instead of a 10% return when there is a large influx into a particular cryptographic platform.

He added that when the markets are really stressed, the divergence will come back from time to time. For example, during the crypto crash a week ago, bitcoin fell below $ 40,000 on the Huobi crypto exchange while it hit a low of around $ 42,830 on Coinbase.

“Every day that you see a 25% move in the crypto markets, there will have been times during that day on certain platforms where things were really out of place,” he said. . “But I think we are past the era where this happened on a regular basis.”

However, there are still two types of trading opportunities in the market today, according to Bankman-Fried.

One type of trading consists of quantitative strategies, or statistically trained models looking for arbitrage to trade in the markets.

Another type of trading, which has grown enormously over the past year, generally takes the form of staking and yielding.

“It’s a weird type of trading, instead of actively doing arbitrage or being a market maker and providing liquidity, there are a lot of places in crypto where you can just click a button and earn 20% per year, ”he said. “And these can run into the billions of dollars.”

The opportunity to generate these fixed or semi-fixed returns stems from a huge demand for crypto dollars. Because there is more demand to buy than there is capital available to buy crypto, the second-order effect is that investors are willing to pay 20% per year to get those dollars, he said. Explain.

On top of that, banks, which have traditionally been the biggest sources of capital and loans, have been slow to get into crypto, exacerbating the dollar shortage situation.

“What you will see as a reflection is that on loan lending platforms, such as on FTX loan lending order books, you will often see rates between 5 and 30% per annum. interest mostly raised by these players and then provided by other players, ”he said. “You will see quantitative companies simply providing capital and passively earning no matter how much those dollars are.”

Scaling up on Solana amid the rise of DeFi

Bankman-Fried sees decentralized finance as an area with enormous potential, despite being a niche in the crypto market today.

He believes the “huge advantage” of borrowing protocols in DeFi will be its ability to “create much more efficiency in what has always been a behind-the-scenes, inefficient and at times predatory area of ​​mainstream finance,” he said.

“These are the bespoke borrowing offices that will lend stocks and charge whatever they want to charge, there is no open market, there is no efficiency there,” he said. he adds. “And you have to have the right relationships to have them. This is not how you create an effective market, this is how you create a closed market.”

Scalability is just as important as efficiency in DeFi, and this is why Bankman-Fried is impressed that the Layer One protocol Solana (SOL) has built.

“I am a big fan of Solana,” he said. “The vision of being able to scale to the point that is needed is just one big thing that many projects miss. Your goal is not to build a product that will be usable within the next two years, especially given the way it is today. Your goal is to create a product that, in 10 years, will be usable. “

Solana, known for her cheap and fast transactions, crashed Tuesday due to increased network activity. Its transaction load peaked at 400,000 transactions per second, 10 times more transactions than any network has ever supported, according to Bankman-Fried.

He likened the episode to a “stress test” for the protocol that illustrated “what happens if you take things to ridiculous levels”.

“It’s not good that this is happening, but you’d rather find out now,” he said, “that in order to increase capacity up to 10 times, there has to be a fork, an upgrade in the network rather than learning that in three years the continuous demand arrives, and then you have to start from scratch. “


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The NAGA Group AG: Apeiron Investment Group of Christian Angermayer and Fosun join forces to further drive NAGA’s growth https://innovativewords.com/the-naga-group-ag-apeiron-investment-group-of-christian-angermayer-and-fosun-join-forces-to-further-drive-nagas-growth/ https://innovativewords.com/the-naga-group-ag-apeiron-investment-group-of-christian-angermayer-and-fosun-join-forces-to-further-drive-nagas-growth/#respond Thu, 16 Sep 2021 20:00:00 +0000 https://innovativewords.com/the-naga-group-ag-apeiron-investment-group-of-christian-angermayer-and-fosun-join-forces-to-further-drive-nagas-growth/ Hamburg, Germany – (COMMERCIAL THREAD) – NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social trading, cryptocurrency and payments network NAGA.com, announces its biggest round table to date and welcomes Apeiron Investment Group Ltd , the private investment firm of entrepreneur and investor Christian Angermayer, and Igor Lychagov, founder of Exness (one of […]]]>

Hamburg, Germany – (COMMERCIAL THREAD) – NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social trading, cryptocurrency and payments network NAGA.com, announces its biggest round table to date and welcomes Apeiron Investment Group Ltd , the private investment firm of entrepreneur and investor Christian Angermayer, and Igor Lychagov, founder of Exness (one of the world’s largest brokerage firms with a monthly transaction volume of $ 1,000 billion) in as new strategic and long-term investors. Hauck & Aufhäuser acted as sole bookrunner in the transaction.

In addition to participating in the capital increase, Apeiron entered into a share purchase agreement with its Elevat3 strategy, operating in partnership with the Peter Thiel Founders Fund, to purchase a block of shares of the FOSUN group and is in negotiations to acquire additional shares from other shareholders. These transactions are subject to regulatory approvals. In total and over time, Apeiron is targeting an approximate 22% stake in NAGA.

Following the strategic investment, the Supervisory Board will be increased from four to five members at the next General Assembly. The company will propose to elect Christian Angermayer as a new member of the Supervisory Board. In order to be able to add this item to the agenda of the next Annual General Meeting, the date of the Annual General Meeting has been postponed from September 23, 2021 to October 11, 2021.

Benjamin Bilski, Founder and CEO said: “We are delighted to welcome Apeiron with its Elevat3 strategy as a new strategic partner. We have worked very hard in recent years and this partnership is an absolute step for us. Already, NAGA has over one million registered accounts, operates in over 100 countries and is on track to increase its revenue by over 100% in 2021 compared to 2020. And that’s only the beginning. I think that the growth of NAGA can be accelerated with the proceeds of the capital increase and with the strategic contribution of our new shareholders. ”

Christian Angermayer comments: “NAGA is one of the fastest growing neo-brokers in the world. The company has impressively proven that the combination of social media, investing, cryptocurrency and payments on a single platform attracts a new generation of investors accustomed to a single user. experience and all services at your fingertips. This retail investment market is growing rapidly and offers enormous potential. I am very much looking forward to working with the founders, the board of directors, Igor and Fosun. ”

Alan Liu, Fosun Global Partner and NAGA Board Member, said, “We are delighted to be working with Christian, who has a proven track record in building global technology champions. We are also honored to welcome Igor Lychagov to our investor table, his brokerage experience is truly incomparable.

NAGA is also announcing its new investor relations website. TO https://www.group.naga.com, the company will provide investors with detailed information about the company and its performance, as well as regular company presentations, business updates and videos.

About NAGA

NAGA is an innovative fintech company that seamlessly connects personal financial transactions and investments through its social trading platform. The company’s proprietary platform offers a range of products ranging from trading in stocks, investments and cryptocurrencies to a physical Mastercard. In addition, the platform enables exchanges with other traders, provides relevant information in the feed and automatic copy functionality for successful member transactions. NAGA is a total synergistic solution that is easily accessible and inclusive. It provides an improved base for trading, investing, networking, earning, and paying. This applies to both fiat and crypto products.


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5 ways hybrid smart contracts are changing the blockchain industry https://innovativewords.com/5-ways-hybrid-smart-contracts-are-changing-the-blockchain-industry/ https://innovativewords.com/5-ways-hybrid-smart-contracts-are-changing-the-blockchain-industry/#respond Sat, 11 Sep 2021 19:00:00 +0000 https://innovativewords.com/5-ways-hybrid-smart-contracts-are-changing-the-blockchain-industry/ Opinions expressed by Contractor the contributors are theirs. For years, the blockchain industry has been defined by the enthusiasm for smart contracts, or tamper-proof digital agreements that automatically execute when a certain condition is met. Usually associated with blockchains like Ethereum, smart contracts allow developers to create decentralized applications or “dApps” that recreate all kinds […]]]>

Opinions expressed by Contractor the contributors are theirs.

For years, the blockchain industry has been defined by the enthusiasm for smart contracts, or tamper-proof digital agreements that automatically execute when a certain condition is met. Usually associated with blockchains like Ethereum, smart contracts allow developers to create decentralized applications or “dApps” that recreate all kinds of products without the need for a rent-seeking middleman. However, over the past year, smart contracts have started to evolve.

While developers are still building smart contracts on blockchains like Ethereum, they have also started to combine them with brand new technology: oracles. Oracles are entities that allow blockchains to interact with data and systems in the traditional world.

Therefore, “hybrid smart contracts”, Or smart contracts that combine on-chain code with off-chain oracles, have taken the world by storm because of the enhanced functionality they enable dApps. Today, hybrid smart contracts are powering several new use cases in dozens of industries, and the combination of blockchains like Ethereum and popular oracle networks like Chain link are now making digital deals that manage tens of billions of dollars in user funds.

Here are five exciting ways the hybrid smart contract model is transforming the blockchain industry.

1. Market data for DeFi

Today, the hybrid smart contract model forms the backbone of much of the Decentralized Finance (DeFi) industry, which seeks to recreate traditional financial products using a decentralized architecture to meet financial terms. . Hundreds of popular DeFi apps that allow users to borrow, lend, trade, save and create assets now rely on an Oracle network to retrieve, validate, and deliver aggregated real-world data . This data then determines how smart contracts run and settle on blockchains.

For DeFi giants like loan applications Aave and Compound, Oracle networks can crowdsource accurate price data in a very reliable and tamper-proof manner. Price data is the lifeblood of DeFi and is used to execute closeouts, determine lending rates, and verify limit orders providing the fair market valuation of cryptocurrency, commodities, etc.

Hackers know this and often try to manipulate price data as a way to break a smart contract, causing severe damage to DeFi applications that rely on poor data or unsafe oracle mechanisms. To avoid this problem, many DeFi applications have turned to Oracle networks that pull data from premium data providers and consist of nodes operated by professional DevOps teams.

The rise of the hybrid smart contract model has also been a boon for DeFi developers; instead of trying to figure out how to build an infrastructure to securely get pricing data for their smart contracts, they can focus on their products and just connect to an existing decentralized Oracle network for their data when they’re ready. . In the same way that apps like Uber combine services like Twilio for messaging, Stripe for payments, and Google Maps for location, DeFi apps are created by combining a chain smart contract code with oracles for data from off-chain price.

Related: 4 Ways Your Small Business Can Benefit From Blockchain

2. Meteorological data for parametric insurance

Beyond DeFi, the hybrid smart contract model is used to create all kinds of cool apps that can improve people’s lives. Decentralized Oracle networks now have the ability to deliver weather blockchain data from sources such as the National Oceanic and Atmospheric Administration via Google cloud Where Accuweather, i.e. projects like Arbol can build parametric insurance contracts that pay automatically when a certain weather condition is reached. The ability to instantly receive an insurance payment when it rains too much or too little is extremely important to farmers around the world, most of whom do not have access to reliable insurance products with timely payments. With hybrid smart contracts, a farmer could hedge against weather risks with little more than a smartphone, ensuring that a single season of bad weather doesn’t cause bankruptcy.

3. Satellite data for regenerative agriculture

Since hybrid smart contracts can interact with our real world, they can also be used to encourage or induce important behavior. For example, the green world campaign, in collaboration with Cornell University’s Cryptocurrency and Contracts Initiative (IC3), is developing hybrid smart contracts that leverage satellite imagery to reward people who help regenerate agriculture on large tracts of land, such as through reforestation. When Oracle networks report increased tree coverage in satellite imagery, land stewards are paid for their hard work in a transparent and fair manner.

Related: Regulated Blockchain: A New Dawn in Technological Advancement

4. Dynamic NFT

Non-fungible tokens (NFT) are blockchain-based assets that represent a single element. They have taken the world by storm in recent months, with old and new artists entering this new space. While the first generation of NFT was static in that it hasn’t changed, the hybrid smart contract model could completely transform the next generation of this popular trend.

Using Oracle networks, smart contract developers can create “Dynamic NFTOr NFTs that can change automatically when something happens in our real world. For example, NBA Rookie of the Year Lamelo Ball creates NFTs that change based on his performance as a player and career progression, introducing additional utility for holders. Sports cards that grow and change with the player or weather-augmented artwork could make NFTs a much more meaningful experience for fan rewards programs and “living” digital art.

5. Random in the game

By their nature, blockchains cannot securely generate randomness. As a result, many blockchain applications that rely on the generation of random numbers are often hacked or exploited, reducing user trust. This poses a huge problem when it comes to all kinds of gaming and NFT apps that rely on random outcomes, whether it’s random prize pools, rare NFT drops, PvP battles, or even creation. objects in the game. With insecure or opaque randomness, the results of blockchain games and the rarity of NFTs can be called into question.

To overcome this limitation, popular blockchain games, like Infinite Axis, Swimming pool, and Ether Cards use oracles to generate random numbers backed by cryptographic proof using a Random function verifiable (VRF). These results are transferred to the blockchain where they can be verified in a completely transparent way and ensure that the results of smart contracts are random but clearly fair. In this case, hybrid smart contracts allow blockchain games and NFTs to maintain their reliability across all elements of their technology stack and have led to new innovative use cases such as lossless savings pools, battles. royal, the “living” or “dynamic” NFTs. , and more.

While the first blockchain-based smart contracts played a huge role in the creation of tokens and dApps, the next evolution involves smart contracts that can interact with everything outside of blockchain, connecting this new world to our existing world for a potentially powerful synergistic value proposition comparable to the effect of the Internet on computers. With increasingly interesting datasets being transported over blockchains through decentralized Oracle networks, the case for widespread adoption of the hybrid smart contract model is growing stronger every day.

Related: 10 Entrepreneurs Who Show Why Blockchain Is Here To Stay


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New Chinese yuan lending in August rebounded from 9-month low https://innovativewords.com/new-chinese-yuan-lending-in-august-rebounded-from-9-month-low/ https://innovativewords.com/new-chinese-yuan-lending-in-august-rebounded-from-9-month-low/#respond Thu, 09 Sep 2021 05:04:47 +0000 https://innovativewords.com/new-chinese-yuan-lending-in-august-rebounded-from-9-month-low/ BEIJING (Reuters) – China’s new yuan loans are expected to rebound in August from the nine-month low recorded the previous month, a Reuters poll showed, as the central bank seeks to support the country’s economic recovery. Banks are estimated to have issued 1.30 trillion yuan ($ 201.21 billion) in new net loans in yuan last […]]]>

BEIJING (Reuters) – China’s new yuan loans are expected to rebound in August from the nine-month low recorded the previous month, a Reuters poll showed, as the central bank seeks to support the country’s economic recovery.

Banks are estimated to have issued 1.30 trillion yuan ($ 201.21 billion) in new net loans in yuan last month, up from 1.08 trillion yuan in July, according to the survey’s median estimate. conducted among 31 economists.

This would be higher than the 1.28 trillion yuan issued in the same month a year earlier.

Short-term easing expectations have cooled after comments from central bank officials that China will maintain a cautious monetary policy.

Central bank vice-governor Pan Gongsheng said on Tuesday that China would maintain a cautious monetary policy and not resort to flood-like stimulus measures.

Sun Guofeng, head of the central bank’s monetary policy department, said there was no shortage of base currency or liquidity and demand would remain essentially balanced in the coming months.

In July, the PBOC reduced the reserve requirement ratio (RRR) of banks, freeing up about 1,000 billion yuan in long-term liquidity. Analysts expect the RRR to cut again this year.

The annual outstanding yuan loans are expected to increase 12.3% in August, as in July, according to the survey. The growth of the broad money supply M2 in August was 8.4%, compared to 8.3% the previous month.

Chinese local governments issued a net amount of 1.3546 billion yuan of special bonds in the first seven months of 2021, according to data from the Ministry of Finance.

The issuance of special local bonds in the second half of 2021 will be higher than a year earlier and the government will work to issue 2022 special local bonds quickly, a state planner official said on Wednesday.

Any acceleration in government bond issuance could help boost Total Social Finance (TSF), a general measure of credit and liquidity. TSF’s exceptional growth slowed to 10.7% in July, from an almost three-year high of 13.7% in October 2020.

In August, TSF is expected to jump to 2.75 trillion yuan, from 1.06 trillion yuan in July.

($ 1 = 6.4610 Chinese yuan)

(Reporting by Judy Hua and Kevin Yao; Editing by Sam Holmes)


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Small lenders question the rules proposed by the CFPB https://innovativewords.com/small-lenders-question-the-rules-proposed-by-the-cfpb/ https://innovativewords.com/small-lenders-question-the-rules-proposed-by-the-cfpb/#respond Fri, 03 Sep 2021 21:22:36 +0000 https://innovativewords.com/small-lenders-question-the-rules-proposed-by-the-cfpb/ Two organizations representing lenders have expressed reservations about a new rule proposed Wednesday, September 1 by the Consumer Financial Protection Bureau (CFPB). The rule, if finalized, would require lenders to disclose information about their small business loans. Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey released a declaration saying the organization […]]]>

Two organizations representing lenders have expressed reservations about a new rule proposed Wednesday, September 1 by the Consumer Financial Protection Bureau (CFPB). The rule, if finalized, would require lenders to disclose information about their small business loans.

Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey released a declaration saying the organization thinks the proposal would apply to too many community banks.

“The bureau’s proposal – covering community banks that issue 25 or more loans – would trap even the smallest community banks in rural and other underserved areas, where barriers to credit should be reduced,” she said. in the press release. “Imposing new data collection and reporting requirements on community banks would hurt small business lending just as local businesses struggle to recover from the COVID-19 pandemic. “

Find out more: CFPB’s proposal to help SMEs access credit

The Credit Union National Association (CUNA) responded to the CFPB proposal, which the bureau said is mandated by section 1071 of the Dodd-Frank Act, with a Publish on the CUNA website.

“CUNA supports the objectives of Section 1071 to ensure fair and equitable financial opportunities, but is also concerned about the potential for unintended consequences and the substantial compliance costs associated with completing complex and overbroad data collection.

“CUNA wrote to CFPB in December – the first steps in rule making – outlining the credit unions’ long-standing support for fair lending laws and stressing the need for financial institutions and consumers to have a clear understanding of regulations and statutes. “

Transparency in the loan market

The CFPB said the proposed new rule is designed to help small businesses access the credit they need and deserve by increasing transparency in the lending market.

He said the proposed rule would provide better information on small business loans by requiring lenders to collect and report credit information that small businesses seek and obtain, demographic information about small business owners, and how requests are received and their results.

In the text of the proposed rule, the CFPB explains that it used a report carried out by PYMNTS in collaboration with Fundbox to estimate the size of the trade credit market. Using these figures, the CFPB estimated that the trade credit market for businesses with less than $ 1 million in annual revenue totaled $ 51 billion in overdue balances in 2019. For businesses between $ 1 million and $ 5 million, it’s $ 88 billion.

During press call On the day the proposed rule was announced, CFPB Acting Director Dave Uejio said, “The small business lending rule that we are proposing today, if finalized, will help us all better understand this. vital component of the US economy and to ensure that entrepreneurs can access credit without discrimination or other barriers.

Uejio said that during the Great Recession and the COVID-19 pandemic, small businesses were hit hard and struggled to access credit.

Resources for small businesses

“The rule proposed today will help us ensure that creditworthy small businesses can get the credit they need, when they need it, in times of crisis and in good times,” Uejio said.

PYMNT research found that 56.2 percent of small and medium-sized enterprises (SMEs) typically experience cash flow shortages. Among less profitable and younger companies, the percentage is even higher: 65.5%.

On Wednesday, alongside the proposed regulation, the CFPB also announced the launch of a new Tell your story portal which allows small businesses to share their stories about applying for credit. These stories, he said, will help inform the work of the CFPB.

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NEW PYMNTS DATA: 58% OF MULTINATIONAL COMPANIES USE CRYPTO-CURRENCY

On: Despite price volatility and regulatory uncertainty, a new study from PYMNTS shows that 58% of multinational companies are already using at least one form of cryptocurrency, especially when transferring funds across borders. The new Cryptocurrency, Blockchain and Global Business survey, a PYMNTS and Circle collaboration, probing 500 executives about the potential and pitfalls that crypto faces as it becomes part of the mainstream financials.


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FACTBOX-From technology to entertainment, the season of regulatory repression in China https://innovativewords.com/factbox-from-technology-to-entertainment-the-season-of-regulatory-repression-in-china/ https://innovativewords.com/factbox-from-technology-to-entertainment-the-season-of-regulatory-repression-in-china/#respond Thu, 02 Sep 2021 09:39:00 +0000 https://innovativewords.com/factbox-from-technology-to-entertainment-the-season-of-regulatory-repression-in-china/ (Updates with new rules for the entertainment industry) September 2 (Reuters) – China launched a multi-pronged crackdown on a wide range of industries, leaving startups and decades-old businesses to operate in a new uncertain environment. The following sectors are under regulatory pressure: ENTERTAINMENT Authorities on Thursday called on broadcasters to avoid artists with what they […]]]>

(Updates with new rules for the entertainment industry)

September 2 (Reuters) – China launched a multi-pronged crackdown on a wide range of industries, leaving startups and decades-old businesses to operate in a new uncertain environment.

The following sectors are under regulatory pressure:

ENTERTAINMENT

Authorities on Thursday called on broadcasters to avoid artists with what they call incorrect political positions and effeminate styles, strictly enforce pay caps for actors and guests, and cultivate a “patriotic atmosphere. “for industry.

This marked the expansion of a campaign that targeted what authorities have described as a “chaotic” celebrity fan culture. Last month, China banned platforms from posting popularity lists and regulated the sale of merchandise to fans in August after a series of controversies involving performers.

GAMING COMPANIES

Regulators have reduced the time gamers under the age of 18 can spend playing online games to one hour of play on Fridays, weekends and holidays, in response to growing concerns about gambling addiction, the officials said. state media Aug. 30.

SHARING ECONOMY

The State Administration of Market Regulation (SAMR) announced on Monday that it would further regulate the sharing economy, an industry that includes companies that facilitate ridesharing, bike sharing, home sharing and even car sharing. pooling of batteries for telephones.

IPO TECH COMPANIES

China is developing rules that prohibit internet companies whose data poses potential security risks from registering outside the country, including the United States, according to a person familiar with the matter.

The ban should also be imposed on companies involved in ideological issues, the person said, declining to be identified as the matter is private.

CLOUD COMPUTING

China is building its own state-backed cloud system – ‘guo zi yun’ – which translates to ‘state asset cloud’, posing a direct threat to tech giants such than Alibaba, Huawei and Tencent Holdings.

Tianjin City has asked city-controlled companies to migrate their data from private sector operators like Alibaba Group and Tencent Holdings to a state-backed cloud system by next year, according to a document viewed by Reuters.

PLATFORM ECONOMY

China is seeking to strengthen surveillance of algorithms that tech companies, including e-commerce companies and social media platforms, use to target users.

China’s Cyberspace Administration said in a statement on Friday that companies should abide by business ethics and principles of fairness, and should not set up model algorithms that trick users into spending large sums of money. ‘money or to spend money in a way that may disturb public order.

In April, the State Administration of Market Regulation imposed a record fine of $ 2.75 billion on Alibaba for engaging in the “choose one out of two” practice, in which a platform e-commerce platform prohibits vendors from selling on competing sites.

The regulator has also fined small businesses for other practices related to consumer rights and labor.

In May, he fined JD.com 300,000 yuan for spreading false information about its food products.

The regulator has also ordered food delivery companies to better protect workers.

EDUCATION

Beijing introduced regulations prohibiting for-profit private tutoring companies from raising capital overseas.

The rules also state that tutoring centers must register as non-profit associations, cannot offer curricula for subjects already taught in public day schools, and prohibit classes on weekends and on weekends. holidays.

A competitive higher education system has made tutoring services popular with parents, but the government has sought to lower the cost of raising children in a bid to boost a lagging birth rate.

ONLINE FINANCING

In November, shortly before Ant Group Co Ltd’s listing in what would have been a record-breaking share sale, banking regulators released draft rules calling for tighter monitoring of online lending, in which Ant was an important player.

The regulations set limits on interprovincial online loans and capped loans to individuals.

The next day, the People’s Bank of China halted Ant Group’s IPO. In April, the regulator asked Ant to separate his payments business from his personal finance business.

RIDE-HAILING

In June, the Cyberspace Administration of China (CAC) asked large rideshare company Didi Chuxing to stop accepting new users, days after its IPO on the New York Stock Exchange.

This reduced the company’s share price by about a fifth.

Analysts and investors say the measures involving Didi have more to do with big data and overseas quotes of Chinese companies than competitive practices.

The regulator initially cited breaches of consumer privacy, but then released a separate set of regulatory proposals allowing Chinese data-rich companies to complete a security review before registering overseas.

At the time of the CAC investigation, the market regulator forced Didi and other companies to pay fines of 500,000 yuan for failing to report small business acquisitions.

BITCOINS

In May, three financial regulators expanded restrictions on China’s cryptocurrency industry by banning banks and online payment companies from using cryptocurrency for payment or settlement.

They also banned institutions from providing exchange services between cryptocurrencies and fiat currencies, and banned fund managers from investing in cryptocurrencies as assets.

In the weeks that followed, provincial governments took action to curb bitcoin mining.

The restrictions sparked a wave of mining closures, with the state-linked Global Times newspaper estimating that 90% of mining operations would close in the short term.

GOODS

The Housing Ministry and seven other regulators have called on the property management industry to “improve order.”

As the economy improves after a 2020 slump due to the coronavirus, authorities have stepped up efforts to curb rampant real estate borrowing this year, in hopes of avoiding an asset bubble.

Other regulatory measures include borrowing caps on developers known as the “three red lines” and caps on mortgage lending by banks. (Reporting by Josh Horwitz and Brenda Goh Editing by Carmel Crimmins and Mark Potter)


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