Greetings! In today’s digest – crypto assets insurance, bitcoin price, world’s first blockchain-university, oil-based cryptocurrency and crypto craze.
Crypto assets insurance
Crypto exchange Gemini has obtained insurance coverage for the digital assets it holds in custody. Insurance will be provided through a consortium of insurers arranged by global professional services firm Aon, which provides “a broad range of risk, retirement and health solutions.
Educating our insurers not only allows us to provide such protections to our customers, but it also sets the expectation for consumer protection across the crypto industry.
Bitcoin will not break $9.000
Former Fortress hedge-fund manager Michael Novogratz, who predicted last year that the cryptocurrency could swell to $40,000 in 2018, said it will take until the first two quarters of next year for bitcoin to move above $10,000.
I don’t think it breaks $9,000 this year.
World’s first blockchain-based university Woolf
A team of Oxford researchers and academics are all set to launch the world’s first ‘blockchain university’, with teaching set to begin in early 2019. The academics claim that the system will make education cheaper for students in comparison to traditional universities, while simultaneously increasing the pay of teachers.
The first college to use the platform will be Ambrose, which will provide a digital version of the Oxford tutorials at the cost of $400 per session. Woolf also will also enable students from outside the European Union [EU] to get a complete EU degree.
We use a blockchain to create efficiencies by managing custodianship of student tuition, enforcing regulatory compliance for accreditation, and automating a number of processes.
Venezuela releases OIL-BASED cryptocurrency
President Nicolas Maduro announced the official launch of the Petro cryptocurrency. The official website for the Petro has already been launched, and the official Petro wallet is also available in Google Play. The public sale of the cryptocurrency will begin on November 5.
Petro’s brand new white paper states that the currency is backed 50 percent by oil, 20 percent by gold, 20 percent by iron, and 10 percent by diamond assets.
Legendary Wall Street investor joins crypto craze
Wall Street advisor Ric Edelman has invested in Bitwise Asset Management, creator of the world’s first cryptocurrency index fund. Edelman, who is a best-selling author, is also serving as an advisor to the company.
With $22 billion in assets under management, Edelman Financial Services was recently named the number one registered investment advisor (RIA) firm in the country for 2018 by Barron’s. He’ll work with Bitwise to support financial advisors in their understanding of blockchain, Bitcoin and the myriad of altcoins in the cryptocurrency market so they can effectively introduce crypto assets to their clients.
There is a technological and financial revolution taking place right now with cryptocurrency that has far-reaching implications. Every financial advisor needs to educate themselves about this space, and most should be considering an allocation for clients.
Thank you for attention! See you soon.