MELBOURNE, Australia,
Nov. 25, 2017 /PRNewswire/ --
Cryptocurrency is reliable, anonymous and decentralized. These
valuable traits mark the case for a global phenomenon that
jumpstarted innovative minds to latch onto new ideas and
applications for the uprising industry.
The growth of cryptocurrencies and soaring prices have motivated
businesses and corporations in pulling their resources together to
enter the blockchain market.
A cryptocurrency is not merely cash that is used for barter
trading but an industry with a dynamic and malleable technology
that replaces deficiencies in various sectors.
Currently, the marketplace has seen many examples of blockchain
applications impacting different industries including
cybersecurity, payment processing and forecasting. The list is
endless and in order to comprehend the wide-reaching influence of
cryptocurrencies, one would need to understand the harnessing power
of blockchain technology globally.
During HKMA Fintech day, 25 October
2017, the Monetary Authority of Singapore (MAS) and Hong Kong Monetary
Authority (HKMA) pledged to work on a trade finance cross-border
platform using blockchain technology to improve security and
processing speed. The blockchain project is a pioneering initiative
within the region to meet the demands of a group of seven banks in
Hong Kong to commercialize a
blockchain-based production system to digitalize and exchange
documents, automate processes and improve security.
"This interface is likely to be the first of its kind in the
world in the application of distributed ledger technology (DLT) in
solving the century-old problem arising from the inefficiency of
the paper-based trade finance system," said HKMA head Norman Chan.
In other parts of the continent, Argentina announced that the Mercao de Termino
de Rosario or Rofex would be adding cryptocurrency services to its
platform. It is a leap forward to currency independence for a
country with pervasive inflation and tight currency controls.
These coincide with CME Group's recent achievement; the world's
leading and most diverse derivatives marketplace has become the
first regulated U.S. exchange to offer bitcoin futures in 2017.
Together, they will reach out to a wider audience and encourage
trading activity.
As the impact of cryptocurrencies seeps deeper into our daily
lives, the financial industry has developed a huge appetite for
cryptocurrency talents and it has been a challenge to locate a
sufficient pool of workers to feed that appetite.
In western countries, universities have accepted cryptocurrency
as an integral part of society, implementing blockchain- and
cryptocurrency–related courses to produce future generations of the
industry. Schools including Princeton,
Stanford and UC Berkeley offer courses
such as "Digital Currency," "Blockchains" and "Smart
Contracts."
Jon Downing, CEO of Quotient
Capital, commented, "It is not by chance that cryptocurrencies are
leading the path to success. The evolution of blockchain technology
is widely accepted by experts in every field. Even after reaching
this stage of maturity, I expect progression to continue to grow
exponentially as more people learn and participate in this exciting
industry. Quotient Capital is opportunistic as the future unravels
compelling news daily on the lucrative market."
Quotient Capital
Quotient Capital is a blockchain asset investment management
company founded in Australia,
2004.
The firm started as a conventional asset management company
before focusing primarily in the acquisitions and trading of
various cryptocurrencies, as well as investments into
cryptocurrency-related companies and assets.
Quotient Capital currently has 5.8
billion USD assets under management and five offices
globally.
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SOURCE Quotient Capital