Page 25 - Equity Movement Magazine-Issue2
P. 25
CRYPTOCURRENCY: THE MODERN DAY GOLD RUSH (CONT’D)
There's clearly a lot of interest in the crypto world, wave of product innovation on a global scale. Providing
reflected by the continuing rise of the bitcoin value. It is new economy to previously underserved regions of the
still in its infancy stage and provides a level entry field world is the foreseeable future.
accessible to all who take note of the clues.
A shining example of a trailblazer from the black-African
Institutional Investment community is Akon – the American-Senegalese R&B
Morgan Stanley thinks that the current investment singer, songwriter and producer. Akon has created new
thesis is the institutional development. Morgan Stanley cryptocurrency called “Akoin.” And according to
cites: Coindesk.com the forthcoming coin will serve as the
currency for a yet-to-be-developed city in the country of
Senegal. The “Akon Crypto City” will occupy a reported
CryptoFundResearch, which is tracking cryptocurrency fund 2,000 acres of land gifted to the singer by the president
AUM. In July 2016, the crypto fund AUM was $380M while of Senegal and is envisioned to be a “100% crypto-
two years later, the AUM is $6.11bn. based city with Akoin at the center of transaction life.”
The types of these funds are: The Akoin, while also being a transactional currency, is a
· 48 hedge fund key component to the broader “Akoin Ecosystem”
· 48% venture capital founded to empower youth all over the African
· 3% private equity continent through a “suite of blockchain-powered
apps” that allow young entrepreneurs to “buy, hold and
spend cryptocurrency right from their smartphone”, as
The location of these funds is:
· 50% US stated on the coin's official webpage.
· 9% China/Hong Kong The cryptocurrency's unveiling and, more importantly, its
· 6% UK
use for both the development of a “crypto-based city”
and as the underpinning of a cause to empower African
youth, has arguably launched the celebrity of Akon to
whole new levels.
Since 2014, Eyal Herzog, Co-Founder of Bancor has
been working in the crypto-currency space, beginning
with AppCoin, empowering local communities with
local currencies, and now Bancor Protocol, an on-chain,
fully decentralized conversion solution between tokens
connected to the network, through a low-cost,
perpetual and adjustable smart contract liquidity
mechanism. Bancor successfully completed a record-
breaking token sale in June 2017, raising over $153
million for BNT, the Bancor Network Token, which serves
The opportunity is now to take a first movers' as the hub connector for the Bancor Network™, a
advantage in the emerging of such a financial disruptive decentralized liquidity network allowing every integrated
industry. Areas of disruption and opportunity are token to be instantly converted to any other, with no
education, healthcare, real estate, Fintech and banking counter party.
are areas that this technology has the ability to totally
revolutionize the way business is done. Blockchain The late rapper and community leader Nippsey Hustle
technology will eliminate waste and fraud leading to a also spoke about the importance of the black
more efficient system which should translate into more community actively educating themselves and
affordable and a greater consumer experience. Easy participating in group economics and community
access to immutable documentation from anywhere in development, advocating cryptocurrency as a means to
the world will improve quality of care in the healthcare do so. He was an early adopter of cryptocurrency with
industry, eliminate unnecessary fees in banking, make an investment in projects like followcoin.io a platform
real estate transactions seamless and usher in a new whose goal was to lower the barrier of entry into crypto
24 | www.equitymovement247.com
