Touyi Group CEO: Block chain will subvert Expedia and Airbnb


nnnFritz Joussen, chief executive of the TUI Group, confirmed the positive role of the chain chain in the tourism industry in an interview with Skift, revealing that the technology was being used to improve a range of businesses. He believes that the chain chain will change the tourism distribution ecosystem by a small number of companies control the situation, so that hotels and airlines have more autonomy, and is conducive to entrepreneurial companies to participate in, and promote market competition.n
nnTranslated by: Inan
nnThe block chain is essentially an immutable large database, and its security features and de-centric features may pose a threat to traditional intermediaries. Some companies are seeking to use the block chain to change the current pattern of tourism distribution.n
n- Dave Montalin
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nIs the block chain the next one?n
nFritz Joussen, chief executive of TUI Group, is convinced that it has this potential and said, “It eliminates the monopoly of knowledge on a few platforms.”n
nBlock chain is the bottom of the market has reached about 45 billion US dollars of the bottom of the technology. Bitcoin is a digital currency that eliminates the traditional brokers of money, and the chain-chain technology derived from it is considered by many to be a great innovation.n
nThe block chain is essentially a distributed database, allowing only new data to be added, which means that historical data is not lost or destroyed.n
nA few weeks ago, Fritz Joussen attended the Noah Conference in Berlin and received an interview after that.n
nJoussen believes that the block chain will break Priceline, Expedia and Airbnb almost “monopolize” the current situation of accommodation and distribution of ecosystems. This may exaggerate the control of the distribution of these platforms, but the point is right.n
n”Intermediaries will have a hard business case that will cost billions of dollars in advertising coverage and then create monopoly profits through sales and marketing,” he said. “They are selling and marketing It is a great brand, but its huge profits stem from its own monopoly structure, and the block chain will change that situation.n
nSince the birth of Bitcoin in 2009, there has been a lot of innovation in the chain area, and new platforms such as the Tower and Lisk have created a chain of blocks as a basis for developers.n
nJoussen’s block-chain vision is the key reason for the sale of Hotelbeds at $ 1.2 billion last year to get rid of the role of the enterprise-business agent, which he believes will be easily replaced by the chain. The idea is to make it easy to become a truly comprehensive company.n
nJoussen said: “I think we are moving in a complete and comprehensive direction, which is the only sustainable way to create long-term value.”n
nTouyi has transferred all the contracts to its private chain. “We are now using it primarily to build a mechanism for exchanging bed frames between different property management systems (PMSs), and the next step will put the entire inventory record on the block chain,” Joussen said.n
nJoussen believes that the use of smart contracts can easily manage and automate most of the bed and hotel capacity on all markets. This is cheaper, more productive, and ubiquitous.n
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nTogan show slides at Noah Conferencen
nMoving all inventory records to the block chain is more complex, but it’s easy to create a large database that can be updated in real time.n
nTouyi also held talks with Winding Tree, a company based in Bay Area, which intends to build a decentralized travel distribution platform. The chain of chains is now private, open to the public and does not gain significant economic benefits, and Winding Tree is creating a public chain for the tourism industry.n
nWinding Tree does not monetize transactions and distributions on its platform, because the platform is completely decentralized. The company is planning to fund its projects through ICO. ICO (the first tokens issue) is a decentralized organization to raise funds for the financing mechanism that will auction the tokens, similar to the IPO. Recent successful ICOs include Bancor (raising $ 150 million), Status ($ 100 million) and Tezos (which has raised $ 200 million and continues).n
n”The oligopolistic situation in the tourism industry today makes the traditional participants have no innovative economic motivations and set too high a threshold for start-up companies,” said Maksim Izmaylov, founder of Winding Tree. “Even if lucky and successful, We are building a travel distribution platform without a middleman, and the block chain is a tool for realization.We want to return the rights of the distribution to the hotel and the airline.n
nWhen asked about the block chain plan, Maksim said: “The value of the block chain lies in its security that is positively related to the use, so the public chain is safer than the private chain, and we think that a single company should not have Travel distribution. “n
nIf the tourism industry to use the chain chain for distribution, then some business models may be significant changes. While online travel agencies are seen by some as intermediaries, their impact on business model change may be minimal.n
nThe block chain is essentially a large database where the hotel in Berlin may have 800 results, and search companies may still help users find their favorite hotel and provide a list.n
nAs everyone can search the hotel through the block chain, the market competition will be more intense, no longer set by the intermediary distribution rate, start the company into the field of the threshold will also change.n
nIn theory, it will be entirely up to the hotel and the airline to decide whether to pay the commission, if necessary, how much to pay.n
nMeta-search companies may be more susceptible to this technology because their business model relies heavily on the use of current distribution defects and price differences.n

Yelun hearings encounter unidentified men holding “buy Bitcoin” slogan steal the spotlight


nnnJanet Yellen, chairman of the Federal Reserve’s House of Representatives Financial Services Committee hearing on Wednesday, photographed a slogan behind a man who bought “Buy Bitcoin”. Although the unidentified man was immediately taken out of the hearing room, but the episode did have an impact on the price of special currency, making it a slight increase. However, what is the prospect of Bitcoin, it is not yet asserted.n
nnTranslated by: Inan
nAn unidentified man held a slogan of “Buy Bitcoin” at the House Financial Services Committee hearing at the Federal Reserve Chairman Janet Yellen on Wednesday.n
nAccording to CoinDesk reported that as of 2:27 pm EST, Bitcoin then rose 3.7% to $ 2418.46.n
nThe identity of the unidentified bidder’s move was photographed by the television, and then was invited out of the hearing room. This act violates the provisions of the House Committee. The committee staff told CNBC that they did not know the man’s identity.n
nBitcoin does not need free advertising, and its price has more than doubled this year, making people worry that it has entered the bubble stage.n
nYelun reported to Congress at the Federal Reserve’s half-year hearing on monetary policy and economic conditions.n
nTom Lee, of Fundstrat, said in a note on Friday that the central bank might one day choose a digital currency like Bitcoin. He was the first Wall Street strategist to report on digital money.n
nYelun did not comment on the digital currency at the hearing.n

The bank replaces the facsimile with a block. Is it worth it?


nnnIn the financial industry, the most popular topic of non-block chain must go. And this technology is also experiencing various forms of testing, to replace the decades has been relatively mature development of traditional technology. This technology is undoubtedly full of prospects, but the current speculation around the technology but also will hinder the number of technology-related companies to work. If this technology is to be used more widely, it is necessary to prove that these systems are more efficient than other alternative systems.n
nnTranslation: Clovern
nNow the most popular topic in the financial industry is none other than the block. The technology is being tested in a variety of ways, with positive confrontation to replace the relatively mature technology that has evolved over the decades. But since the block-based system has been deployed in place, the advocates need to do is to prove that these systems are indeed better than other alternative systems.n
nMercedes-Benz manufacturer Daimler used block-chain technology to borrow 100 million euros ($ 114 million) from the German bank in Baden-Württemberg. In the past to obtain such loans need to develop contracts, communicate with investors, pay and conduct a comprehensive management. This outdated way is clearly required to be confirmed by a fax machine.n
nIn short, traditional loan contracts are managed in a similar format, and rely on the chain of “smart” contracts to automatically generate loans to the commissioned transaction books, create agreements and checks to ensure that payments can be received. With block-based loans, all stakeholders are able to immediately access all relevant details of the same distributed record (ie private block chain).n
nDaimler spokesman said that although the company is seriously considering the block chain technology, it does not rule out the company in the process of exploring innovative ways to consider other systems. It is not every time the modernization process to block the chain as the main content, even now some time it seems really like this.n
nOn the block chain there is speculation, because this technology is undoubtedly a great prospect. This technology supports Bitcoin and provides a secure way of storing and transferring value through encryption. While the technology is also designed to eliminate the need for a single central institution, such as a bank. Financial companies are also looking for distributed tax books to more effectively manage contracts and simplify their operations.n
nIf you think the block chain will completely subvert the traditional way of doing things, then things like corporate loans and settlement of this ordinary things suddenly began to become very exciting. As a result, many companies are developing block-chain projects or joining industry groups that are studying the impact of the technology on their business to hedge their bet. Santander Inno Ventures argues that by 2022, the chain chain can reduce bank turnover costs by up to $ 20 billion a year.n
nBlock chains outperform any other system is to eliminate the need for mutual trust between opponents. This can revolutionize complex systems with high risk of crime, such as trade finance. But for other use cases, this technology may become an over designed database – there are signs that Bitcoin will reach its limits of use, and that a more advanced digital network and currency etherfloor is also facing bottlenecks.n
nPeter Randall, chief executive of the former stock exchange, which runs a company called SETL.io, said the stock exchange is already very efficient, for example, the New York Stock Exchange is usually able to handle millions of transactions every day. In the credit card industry, Visa said it could handle 56,000 transactions per second.n
nPricewaterhouseCoopers, a department head of PricewaterhouseCoopers, said the momentary turmoil triggered by the chain chain could well reflect the dot-com bubble that occurred in the late 1990s and early 21st century, The company ended with bankruptcy, but there were still a few elite companies: about 90 percent of the so-called distributed categorized books were likely to fail, but there were still several companies that could change the financial sector.n
nRebecca CEO Brad Garlinghouse said the company’s cross-border payment business area is really using a block chain. However, he pointed out that the traditional database in some examples of the role of the classification of books than the better, and sometimes the block chain of speculation will make it difficult for him to work.n

Japan ‘s largest utility company Tokyo Electric Power Investment Zone Chain Energy Start – up Company


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nnTraverse: Conjoule Co., Ltd. is a start-up company that uses the block-chain technology to develop the p2p energy market, which has raised $ 4.5 million under the investment of Japan’s largest utility company, Tokyo Electric Holdings (TEPCO) and innogy Innovation Hub Euro A round of financing.n
nnTranslation: Dorisn
nConjoule, Inc., a start-up company that uses the block-chain technology to develop the p2p energy market, has raised € 4.5 million in investment under the investment of Japan’s largest utility company, Tokyo Electric Holdings (TEPCO) and innogy Innovation Hub Financing.n
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nAccording to the official release, TEPCO for this start-up company invested 3 million euros. innogy Innovation Hub is committed to building a decentralized energy market based on block chains, TEPCO is its first investor.n
nTEPCO Global Innovation Investment Executive Officer and Chief Executive Officer Shin-ichich Kengaku said:n
nn”Block chain technology will redefine what is possible in energy ecosystems and we look forward to working with Conjoule and innogy Innovation Hub to gain practical experience in driving the transformation of the energy industry.”n
nnConjoule intends to use the funds raised to expand its technical team and to launch a pilot platform and initial product in a specific market in Europe in 2017 and to begin developing and testing the next generation of products on the Conjoule product roadmap.n
ninnogy SE’s senior vice president of innovation and business transformation, led by innogy Innovation Hub Thomas Birr (Thomas Birr) said:n
nn”Conjoule has a clear vision to create a future energy system: it is centrally, digitally and customer-friendly. It follows the idea of” sharing the economy “that consumers can buy directly from their neighbors through Conjoule’s platform Energy .Conjoule is another example of the innogy Innovation Hub portfolio, and we have found and invested in new companies with rapid growth potential in the future. “n
nnConjoule was founded in 2017 by the innogy Innovation Hub, which is developing a p2p market for producers and consumers of renewable energy, as well as battery owners and other flexible energy sources, without intermediaries. At present, this platform and distribution products are being piloted in two cities in Germany, allowing home users who install solar PV at home to sell excess electricity to local consumers.n

BlackRock Analyst: Encrypted money market charts “quite scary”


nnnIn the 2014 mid-year investment outlook, the chief investment analyst called for vigilance to encrypt the money market situation. Although there is no mention of encrypted money market analysis or the company’s forecast of its trend, but personally think that market trends are scary. But there is no evidence that the market will affect the overall financial market, but proved that the volatility of the market.n
nnTranslation: Annie_Xun
nThe world’s largest asset management group chief investment analyst called for vigilance of the status of encrypted money market.n
nAt the end of March, BlackRock, which managed more than $ 5 trillion in total assets, posted a 2017 mid-year investment outlook, said chief investment analyst Richard Turnill in the interview. Despite the mention of encrypted money market analysis or the company’s forecast of its trends, Turnill shared his current view of the market.n
nTurnill said the status of the encrypted money market, said, “I looked at the charts, for me quite scary.”n
nEncrypted money market in recent days, a significant decline since the end of May, the ether-based network of currency for the first time fell to less than 200 US dollars.n
nTurnill argues that the sale of encrypted money will not pose a risk to the overall financial market.n
nn”There is no evidence that the clearing of currency prices will affect the overall financial market, but for me, this is the market price volatility of the proof.”n

Shenzhou digital CEO Sun Jiangtao meeting Nokia Chairman: Block chain cooperation or can be achieved


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Reporter: pencil leadn

Recently, Prime Minister Seibile Lai came to China to attend the Summer Davos Forum in 2017 and held talks with President Xi Jinping and Prime Minister Li Keqiang respectively. Nokia Group Chairman Risto Siilasmaa (pictured left) came as a representative of the Finnish business community. During this period, China Digital CEO Sun Jiangtao (pictured on the right) met Risto Siilasmaa (Risto Siilasmaa), two on the Sino-Finnish enterprises emerging technology cooperation to discuss.n
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nShenzhou Digital CEO Sun Jiangtao said that China Digital Group is listed on the Hong Kong Stock Exchange, the future focus on regional chain technology and other financial technology, is currently actively in the global expansion of new financial services. China Digital Group has successfully hatched to the letter and cloud as the representative of the chain chain enterprises and actively expand overseas financial markets, with the hope that through the block chain technology to achieve the financial sector, especially banking innovation.n
nnSun Jiangtao stressed that in April this year, when President Xi Jinping visited Finland, he pointed out that “taking all the way” will become a new growth point for Sino-Finnish economic cooperation and produce immeasurable demonstration effect in Nordic and throughout Europe. Digital China Group to actively respond to national policy calls, and strive to grasp the financial and technological opportunities to the sea. Finnish financial technology developed, Nokia is based on the global radiation of Finland’s high-tech giants, Divine Digital is very hope that in the field of block chain technology and Nokia industry giants such as cooperation, based on Finland, the Nordic and even the whole of Europe, Sino-Finland cooperation strong Joint, common through the block chain technology to achieve financial technology and other areas of innovation.n
nnnRisto Siilasmaa, chairman of the board of directors of Nokia, points out that emerging technology is the trend, and Nokia is now focusing on the Internet of Things and deepening the market for operators to enter the non-operator market. Risto Siilasmaa (Risto Siilasmaa) stressed that the face of new technologies, Nokia’s previous success and lessons vividly. Now Nokia for emerging technologies, whether it is closely related with the Internet of things or one of the global hot topic block chain, Nokia has an unprecedented attitude and want to participate in them. Sino-feng friendship deep friendship, economic and trade cooperation closely, Nokia sincerely hope that Sun and Tao Tao and other Chinese entrepreneurs in the field of new technology to try to cooperate.n

Defend Boundary with Block Chain: Former US Vice President Adviser Calls for Action


nnnIn Washington, DC, the “Defense for Democracy Foundation” issued a new study note detailing how block-chain technology can prevent malicious tampering of hardware components from being applied to important national security infrastructures. And pointed out that national defense security depends entirely on the Department of Defense will not be able to support the United States in the global economic status. Combined with block-chain technology and artificial intelligence, can greatly compensate for the existing security security measures.n
nnTranslation: Annie_Xun
nSoon the new digital forensics will prevent hostile countries from destroying the equipment of the defense sector.n
nThe US Foundation for Defense of Democracies issued a new study note detailing how block-chain technology can prevent malicious tampering of hardware components from being applied to important national security infrastructures.n
nAlthough the Foundation’s Center for Sanctions and Illicit Finance issued a document to protect US defense, its principles apply to any country where supply chain transactions are large.n
nBy Samantha Ravich, former US Vice President Dick Cheney’s National Security Adviser and former US Defense Advanced Research Projects Agency (DARPA) project manager, Michael Hsieh, described that the use of “source-proven” hardware would threaten US “physical Safety”.n
n(Leveraging Blockchain Technology to Protect the National Security Industrial Base from Supply Chain Attacks): “Leveraging Blockchain Technology to Protect the National Security Industrial Base from Supply Chain Attacks”n
nn”The continued globalization of the manufacturing supply chain will continue to drive productivity-dominated global wide-ranging economic growth, but at the same time bring an urgent survival challenge to national security because of the complexity of the national security industrial base (NSIB) Production and assembly of the United States to rely on advanced technology, large-scale economic espionage activities. “n
nnThe memo is aimed at non-technical readers who describe that the chain-chain technology can change the legacy of acquiring international merchandise to identify the source of any commodity that NSIB uses.n
nIt is stated that the perpetrators of such threats are involved in the cyber-economic warfare, undermining hostile national economies and “weakening their political and military forces.” The so-called “strategic” attack is through hardware to destroy the country’s entire infrastructure, and its malicious purpose “is often carefully confused.”n
nn
nFog in the lightn
nAccording to the US-China Economic Security Review Commission and the Senate Armed Services Committee, the document specifically states that Afghanistan and other countries have this initiative.n
nThe author of the memo calls that to eliminate the ambiguity of high volume, standardization and lack of records, the supply chain data should be migrated to the block chain on a large scale, combined with artificial intelligence to constantly scan the crime.n
nFor example, the document cited the audit report of the Special Investor General of the Afghanistan Reconstruction, which revealed that despite the “blacklist”, a group of bomb makers still cooperated with supply chain contractors.n
n”Infected components are also likely to enter the domestic civil infrastructure because civilian firms are facing the same supply chain risk,” the authors write. “In a conflict, the weakness of the domestic economy will not only weaken domestic morale but also disrupt the main material support of the US military “n
nn”The easiest way to remove a known bad guy is to use a dynamic trading chart based on a block chain.”n
nnn
nCalled for actionn
nThe authors reaffirmed the policy recommendations of the Defense Science Board in April 2017, which did not mention block or distributed book technology, and gave their own suggestions and warnings.n
nFirst, it is recommended that you organize a “community” that is familiar with the technology and conduct small-scale trials; develop a “general contractor” that is willing to accept the “block-based chain-based payment system”; follow the contractor’s information to upgrade the privacy of the Federal Department of Federal Regulations Requirements (DFAR, Defense Federal Acquisition Regulations).n
nAt the end of the report, footnote refers to supply chain companies that support some of its chain areas, such as BlockVerify in the pharmaceutical sector, Everledger, Provenance in the diamond industry.n
nSecond, the author suggested “to cooperate with the industry to take legislative and regulatory initiatives.”n
nn
nRegulatory warningn
nThe recommendations in the footnotes include warnings that require US government agencies to protect citizens’ privacy laws that may equally apply to contractors using such supply chains.n
nn”To clarify possible conflicts in the interpretation of existing federal procurement regulations to ensure compliance with any pilot project”.n
nnThe author concludes:n
nn”Protecting the NSIB supply chain is a system engineering challenge for the new dimension. In fact, the current problem is to monitor business activities, and if you rely solely on the Department of Defense, you can only become the world’s 20th largest economy. Block chain technology is still new, the risk should not be overlooked, but also contains great potential, is particularly suitable for this complex single problem tool.n

Fabric 1.0 release, refers to the Mong Jin Branch simultaneously launched the browser


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Reporter: pencil leadn

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nToday, the Linux Foundation launched the open source block chain distributed books – Hyperbook (Hyperledger Fabric), has ushered in the 1.0 version. For all block chain technology enthusiasts, this is extremely exciting news!n
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nRefers to the Mong Jin Branch simultaneously released Fabric 1.0 adapter browser – Fabric-explorer, the first time for the global developers to provide a convenient. The browser includes the block chain system status, block information, transaction information, system performance monitoring, the current intelligent contract five modules, users can visually view the number of blocks, the number of transactions, block chain information, transaction information, etc. Detailed information.n
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n(Fabric-explorer main interface)n
nAt present, the browser has been included in the Linux Foundation’s Hyperledger project team.n
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nFragrance will be available free of charge to the IT technology community download and use. It is hoped that this browser will facilitate the development of block-chain technology for all Fabric learners, technology developers, management maintainers and test, operation and maintenance personnel.n
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nAbout Hyperledger Fabric 1.0n
nHyperledger Fabric 1.0 focuses on performance and reliability, as well as cross-industry collaboration that drives block and distributed book technology. The project can be used for global supply chain management, financial transactions, asset accounts and to the center of the social network and other scenes, but no intention to build an encrypted currency.n
nFabric 1.0 has a wide range of applications, but currently only provides a command line interface, can only enter commands in a specific line and receive a response from the operating system, can not quickly view its internal information. This is very inconvenient for the majority of Fabric learners, technology developers and management maintainers.n
nTo solve this problem, the staff of the Wangjinke Block Chain Research Institute developed Fabric-explorer based on Fabric1.0. So that users can easily and intuitively view, including the number of blocks, the number of transactions, block chain information, transaction information and other internal details of the fabric, and can monitor system performance, view the smart contract situation.n
nThe Mong Kok is the first member of the Hyperledger Alliance Greater China and donates code to the Linux Foundation. The launch of the browser, proved the company’s strong R u0026 D strength and keen industry insight, but also to enhance the Chinese companies in the chain chain worldwide technical influence.n
nBrian Behlendorf, executive director of the Hyperledger Fabric project, said the 1.0 version was 159 developers after more than a year of effort. “We encourage more developers to join the Hyperledger open source project,” Brian sent a warm invitation.n
nWe expect Hyperledger Fabric open source projects to continue to bring breakthroughs and surprises. It is also one of the members of Hyperledger, which is involved in project development and technical contribution.n
nn
nAbout Usn
nIs a high-speed growth of financial technology enterprises, focusing on the financial industry software research and development, application and services, in the block chain technology research and application of deep accumulation, the company’s existing Shanghai, Hefei, Xi’an three R u0026 D center More than 200 R u0026 D personnel. In early 2016 the company set up a chain of chain research institute, brought together more than 30 domestic chain technology experts and industry experts to carry out technical research and design. At present, the Institute published dozens of papers, including financial services, supply chain management, asset digitization and trading, block chain socialization, etc., and the introduction of the implementation of the landing program. In the near future, it means that Hongjin Branch and Donggang Ruihong have reached a comprehensive block chain strategy, and the joint Fudan University has launched a block chain technology training course, which is widely praised in the social industry.n
nRefers to the Mong Jin Branch focus on the application of block chain technology, external application from the block chain application consulting, application design, application development, training to the implementation of a set of solutions. In addition to the block chain electronic invoice application field, refers to the Mongke Branch in the new block chain P2P network loan platform, block chain supply chain finance, block chain platform and other financial areas have also successfully launched a solution. At present, the company has become the Linux Foundation Hyperledger project in China, one of the members of the Union, the development of the block chain application project in the China Innovation and Entrepreneurs Competition gains important awards.n
nRead the original, free download Fabric-explorern
nhttps://github.com/onechain/fabric-explorer/archive/master.zipn

Emerging hedge fund companies want to raise $ 200 million in investment in digital currency


nnnThe SEC recently announced a document filed by a hedge fund company called Cryptocurrency Fund LP, which intends to raise $ 200 million in investment in digital currency. The company was just set up in Las Vegas at the end of June, with little information about its company and investment plans. Although the company said that because the regulatory matters still can not disclose a lot of information, but it still reminds people now invest too much in the project, need to keep your eyes clean.n
nnTranslated by: Inan
nAccording to the regulatory documents, a newly established hedge fund company, which had just been established, wanted to raise $ 200 million in investment in digital money.n
nThe company, called Cryptocurrency Fund LP, proposed to raise funds in Form D filed with the Securities and Exchange Commission (SEC), which was disclosed on July 10. The minimum amount of financing is $ 100,000 and will be raised from qualified investors (with a net worth of at least $ 5 million).n
nThe document represents the latest efforts to attract large investors in the digital money market. In recent weeks, several investors in the field have already begun to do similar work, including $ 100 million to set up a fund focused on ICO, which has raised about a third of the money.n
nHowever, although the Cryptocurrency Fund LP is set at a high level, the company’s information is very small.n
nPublic records show that the form was filed by its chief executive officer, Pavlo Savchuk, which was registered on June 26 in Las Vegas, Nevada. The person in charge of the company Cryptocurrency Capital LLC includes Timofii Melnyk and Oleksii Yeharmin. Cryptocurrency Fund LP did not make much statements about the investment plan.n
nThe company published a short article on Block Chain assets on Medium in the day of registration. On its website, it was written that the white paper related to the plan could be downloaded, but Savchuk told CoinDesk in a telephone interview that the white paper could not be published because of the approval of the regulatory authorities.n
nSavchuk then said that in addition to the form submitted to the SEC, they also from the National Futures Association (NFA) permission. Until then, they can not disclose policies to any potential investors.n
nAccording to Savchuk’s LinkedIn, he served as a foreign trade manager for Gresa Group between 2013 and 2015. This is a Ukrainian company that produces renewable energy production equipment. He also served as a securities trader for T3 Trading Group in New York from March to May this year.n