April 9 – 15, 2018 | Rockefellers, Crypto Apps & More Crypto News

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

Rockefellers Go Long on Cryptocurrencies to Invest in Blockchain Startups

April 9, 2018 – The Rockefeller family will be investing in Blockchain technology though their venture-capital arm, Venrock. Venrock will be partnering with CoinFund, a cryptoasset investment group that helps entrepreneurs launch Blockchain related startups.

Venrock has an estimated $2.6 billion under management and has a history of investing early in successful tech companies, including Intel and Apple. David Pakman, a Venrock Partner, says they are not concerned with the short-term prospects of the blockchain and cryptoasset industry, Venrock is investing for the long term. He adds that “there are a lot of cryptocurrency hedge funds. This is different. To us, it looks a little bit more like venture capital”.

Read the full article here.


Subsidiary of Germany’s Börse Stuttgart Exchange to Launch Crypto Trading App

April 14, 2018 – A subsidiary of Germany’s second largest stock exchange, the Börse Stuttgart, is releasing an app that allows the trading of cryptocurrencies. The announcement of the Bison app came from the subsidiary, Sowa Labs. The app will allow the trading of popular cryptocurrencies such as bitcoin, ether, and litecoin. Börse Stuttgart acquired Sowa Labs back in December 2017, but it is unknown how much the acquisition cost the exchange. However, a member of Börse Stuttgart’s management board said the acquisition of Sowa Labs was a seven figure transaction, and was in-line with the exchange’s digital strategy.

The announcement furthers the trend of traditional exchanges moving their experience and technology to support cryptoasset trading in the face of competition from firms like Circle Trading moving to become fully SEC registered exchanges. Canada’s role in the crypto market remains optimistic, as exchange operatorTMX Group recently announced that its subsidiary Shorcan DCN will launch a cryptocurrency brokerage service. Companies like Polymath, TZero, and HyperionEx are moving into the alternative trading space, however, regulated exchanges may become the preferred platforms for cryptoasset trading.

Read the full article here.


$1 Billion Blockchain Fund Launches with Chinese Government

April 9, 2018 – A $1.6 billion Blockchain fund has been launched with Chinese government backing. The Xiong’An Global Blockchain Innovation Fund launched by Tunlan Investment has received over $400 million from city government and will be focussed on investing in promising blockchain projects. Xu Xiaoping, one of China’s most famous angel investors, will be advising the new fund. 
The investment fund was announced in tandem with the grand opening of the Hangzhou Blockchain Industrial Park. The industrial park is located within one of the largest tech hubs in China and will serve as an incubation center for Blockchain related startups.

Read the full article here.


Moscow Court Blocks Telegram Chat App After $1.7 Billion ICO

April 13, 2018 – Telegram, the popular encrypted messaging app, will be blocked by Russian telecommunication companies as ordered by a Moscow court. This news comes as the result of Telegram refusing to grant intelligence authorities access to users’ messages.

Telegram has established itself as a favoured messaging app in the crypto world and it plans to debut its very own Blockchain and cryptocurrency. The company currently has close to 10 million users in Russia and they may lose a large chunk of these users. However, Karen Kazaryan, an analyst at internet lobby group Raec, says “Telegram will be more difficult to shut as it’s highly popular and offers users means to bypass blocking”.

Read the full article here.


Moody’s: Blockchain Could Save the US Mortgage Industry $1 Billion USD

April 12, 2018 – According to a new report released by Moody’s, blockchain could help reduce costs related to the redundancies of the mortgage process. The authors of the report highlight that the technology behind blockchain could be used to improve the monitoring of loan performance, and enhances transparency through the mortgage period. This technology could also allow insurers to transfer discrete mortgage credit risks to new reinsurers, or to transfer the mortgage to other credit providers in a cost-effective manner.

The report notes other benefits, such as title transactions and other documentation that could be automated, allowing creditors to reduce their number of employees and cut back on commissions. Just a 10 to 20% cut in these expenses alone is estimated to save creditors $840 million to $1.7 billion USD annually.

Read the full article here.

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Disclaimer

This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.