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]]>With investments starting at USD$1,000, Blockchain trading is no longer restricted to financial institutions, HNWIs
Dubai, UAE, 25 July 2018: Blockchain technology can transform the Dubai real estate market and the wider economy by bringing in a new level of transparency to attract global players, international investment and advisory specialists Cryptech said today.
The company believes the Blockchain 2021 strategy by government agency Smart Dubai will deliver a major boost to the economy by winning the confidence of institutional investors and sparking a fresh surge of broader interest in the property market.
“The government initiatives we are seeing to turn Dubai into a global technology hub will build a broad range of economic opportunities in many sectors, not least by bringing additional integrity and transparency to the property market,” said Cryptech Director, Omar Jackson.
“This is something that the major institutional investors are looking for, and their arrival can provide a huge injection of wider investor confidence in Dubai real estate. We fully support the government drive and welcome investors who may be new to the technology wishing to explore its potential.
“One of the biggest opportunities in the property market is to use Blockchain to ‘tokenise’ real estate assets, meaning an investor can purchase parts of a property rather than the entire property. These parts can be traded online in seconds, making UAE real estate far more accessible and attractive to investors from all over the world. We believe this will become a major new trend in the industry this year, especially for first time buyers who are often priced out of the market.”
Cryptech, a Blockchain organisation which provides investment opportunities to individuals and institutions seeking to explore the technology, has offices in both London and Dubai and teams operating between the two on behalf of clients.
By offering clients a minimum investment option of USD$1,000/GBP1,000 it has opened up a trading opportunity which previously was largely restricted to financial institutions and HNWIs. After 12 months, clients can redeem their capital back with the maximum returns generated.
The company was recently acquired by private equity firm Berkeley Assets which appointed Jackson as a new Partner to head up the business.
“Cryptech guides investors wishing to trade in cryptocurrencies and invest in innovative start-up companies creating Blockchain technology solutions to revolutionise businesses globally,” explained Jackson.
“We have recently expanded our reach globally, attracting interest from investors across the world who are eager to explore the opportunities to achieve substantial short term growth in the technology.”
The offshore company invests in ideas and start-ups that are utilising Blockchain and actively trades the top four cryptocurrencies in the world; Bitcoin, Ethereum, Ripple and Litecoin, utilising a two-pronged strategy to deliver consistent gains across cryptocurrencies and Blockchain.
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November 9, 2016: NASSCOM welcomes the announcement earlier this evening by Prime Minister Shri Narendra Modi, scrapping the current high-value currency notes of Rs 500 and Rs 1,000 denomination, and replacing the Rs 500 notes with a new design.
This move is a masterstroke that will make a major dent on unaccounted or ‘black money’, rendering it valueless unless it is taken to a bank to be exchanged, potentially bringing it into the tax net.
NASSCOM believes this move will also accelerate the push toward electronic payment, which presently has relatively little penetration in India, where cash accounts for 78% of all transactions by value according to the Reserve Bank of India.
This complements the other moves toward digital payments, including the foundation being created by the Pradhan Mantri Jan-Dhan Yojana under which 254.5 million bank accounts had been opened as of November 2, 2016.
“If most of the black money is brought into bank accounts or into the tax net, there will be far less reason to deal only in cash, and far more reasons to transact through electronic payments,” said NASSCOM President R Chandrashekhar, who is a member of the Ministry of Finance Committee on Digital Payments, chaired by Shri Ratan P Watal of NITI Aayog.
This is also a welcome move for the e-commerce industry, where a large number of deliveries in India are “COD” or cash on delivery, raising logistics costs and risks. While other reasons for use of cash, such as trust, may take longer to alleviate, the present announcement could mitigate a significant factor driving COD, the availability of unaccounted cash.
NASSCOM understands that a new currency note of Rs 2,000 value has been introduced with immediate effect, and also that new Rs 1,000 notes will also be printed and issued “in due course”, along with new Rs 10, 20 and 100 notes. It is heartening to note that these new currency notes will all have Braille features for the blind.
Based on information currently available, NASSCOM believes that the new Rs 2,000 note and the plan to reintroduce the Rs 1,000 note could be a potential dampener to the bold and progressive step by the government, as high value currency notes constitute the foundation of black money and the cash economy. This historic step by the Government could, if optimally leveraged, hugely accelerate the migration to a digital economy. The benefits of such migration would include widening the tax net and minimizing black money. The opportunity should be used to the hilt.
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