The Emergence of Cryptocurrency
Coffee with Samso Episode 55 with Barry Moore, General Manager and Director of Scarlett Invest
Money is Dirty. Is it time to start thinking about currency diversification?
COVID has made money even dirtier, so more people are using digital money which is eco-friendly and improves the speed of transactions. The emergence of cryptocurrency has taken the world by storm as it is considered secure, reliable and trustworthy because it is based on blockchain. Read here to understand the difference between digital and cryptocurrencies.
Investing in Cryptocurrency
The world of cryptocurrency is one that seems to divide our thoughts when it comes to investments. I was involved in several ICO (Initial Coin Offering) three years ago when it was all happening. Money was being raised for all sorts of projects which I suspect are no longer in the marketplace.
With the uncertainty of credibility, the world of crypto was plunged into deeper space of mistrust when the pricing of all the coins started to fall back. The darling of the crypto world, Bitcoin, was leading the pack downwards into a world of darkness.
In recent months, the revival has been short of spectacular and we are seeing many "credible" sources embracing the crypto world. Paypal has declared their association with the use of digital currency in allowing the process of using bitcoin on their platform.
In this episode, we talk to Barry Moore who is a local Perth entrepreneur promoting the use of cryptocurrency and creating a crypto-exchange where coins can be traded and flow into our "normal" marketplace.
The digitisation of currency is here to stay and it will revolutionise the way we use cash. We will have more control on money transfer and the use of currency.
Most people would find this a new concept but I assure you that this is no longer a new story. This is a developing story that has taken a firm foundation internationally. The use of crypto is now mainstream and is without a doubt here to stay for us to use and invest.
Please take the time to watch and do yourself a favour and seek more research. This is the start of a new revolution that will be looked upon by the next generation as a game-changer in investment styles.
About Barry Moore
General Manager and Director, experienced algorithmic crypto trader and a machine learning evangelist.
Barry focuses on the logic behind the combination of analysis tools, neural networks and genetic algorithms for optimisation. He always wanted to have a trading bot with more features but never had the time to build a solution beyond basic python technical analysis tracker.
About Scarlett Invest
Scarlett Invest is a business group inspired by Investment in property through cryptocurrency.
On completion of the ICO (Initial Coin Offering), Scarlett Global opens the doors to token holders with experts engaging in profitable businesses including Commodity Trading, Property Development, Real Estate, Information Technology, Vessel Consultancy and Appraisals of Hospitality, Government Projects.
Scarlett has mostly been concerned with listing and connecting buyers and sellers. However, The Scarlett with the help of blockchain introduces new ways to trade real estate and can enable trading platforms and online marketplaces to support real estate transactions more comprehensively.
Scarlett has launched its own ERC20 token that uses blockchain technology to facilitate
real estate and rental property transactions. By tokenizing real property, assets can then be traded much like stocks on an exchange and transactions can be done online.
Scarlett allows sellers to tokenize assets, essentially handling it like a stock sale, and liquidating that asset through a token sale using the platform. The collected tokens can be exchanged for fiat currency, with buyers owning a percentage stake of the property and its rental returns.
Brokers, lawyers, and banks have long been part of the real estate ecosystem. However, cutting out the intermediaries will result in buyers and sellers getting more out of their money as they save on commissions and fees charged by these intermediaries. This also makes the process much quicker as the back-and-forth between these middlemen gets cut.
Real estate has long been considered an ill liquid asset since it takes time for sales to conclude. This isn’t the case with cryptocurrencies and tokens since they can readily be traded for fiat currencies through exchanges. However, as tokens, real estate can be readily traded. A seller doesn’t have to wait for a buyer who can afford the whole property in order to get some value out of their property.
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.
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