Ripple, Partnership with Saudi Central Bank                       "First Central Bank"

in #regulatory7 years ago

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"It's a matter of whether you live or die." The high-yielding investment assets are falling into the US interest rate hike and government regulations. Is it time to stand by the spirit of "moody" now, or is it necessary to cash in assets?
Virtual currency prices have been shaken by the government 's regulatory movements and some skepticism.
On November 11, Justice Minister Park Sang-ki said in a press conference that he is preparing a bill to ban the virtual currency exchange. It was the beginning of a virtual currency collapse. Since then, Cheong Wa Dae has been on the brink of public opinion, but since then, the price of virtual coins including beat coins has begun to decline.

Since then, the government has not been able to come up with a clear stance, and the price of virtual currency has not risen as it is confused. Kim Dong-yeon, the deputy prime minister and the minister of finance and economy, said, "Repeating the words 'I will put my position in the near future'. Even the legal nature of virtual money as a commodity or asset has not been properly defined. In the meantime, various speculations, such as the introduction of the exchange market authorization, have fostered a fall in virtual currency prices.

The price of virtual currency collapsed as the United States, which allowed for virtual currency futures trading following Korea and China, regulated. India also handled virtual currency. Bitcoin fell to 6.6 million won.

Virtual currencies were fluctuating, and related stocks also fluctuated. If the stock market moves according to the stock price index, the virtual currency related stocks also move according to the virtual currency price. Most related stocks were stocks with virtual currency exchanges. In particular, the volatility of exchange-related stocks became even more pronounced on the 30th, when the real-name system of virtual currency transactions was introduced. The news of the hacking of overseas virtual exchange trades that I often hear has also disturbed the investors.

Typically, there is Woori Investment, a start-up investment company. Our technology investment holds 7.65% of the shares of two trees operating 'virtual' exchange. This event, which was a coin to record 566 won on August 11 last year, has skyrocketed to 10,100 won on the 10th of last month.

When the share price rises, the CEO sells 1.9% of all stocks, 1.9%, and founder Lee Wan-keun Shinsung Eung-ji shares his technology investment stock with 7.6 million shares (9.00%) and Shinsung ENG treasury shares (13.24% And exchange (stock swap). Shinsung ENG is a display and solar power industry. The shares of Swarfloo Chairman and Shinsung ENG have increased from 10.79% to 24.05%. Nevertheless, it still shows the power to travel around 6,000 won.

The shares of Vident, Omnitel, and Widget, which are related to the virtual currency exchange "Bitsum", also moved significantly. The company that operates Bitsum is Bitsy Korea.com, the largest shareholder of the company is Bitsity Holding Company, which owns 76% of the company. They are intricately intertwined in equity.

VitaCore.com, followed by Vithi Holding Company, holds shares in Viente (10.6%) and Omnitel (8.4%). Vident owns a 10% stake in Vithi Holding Company and owns a 5.3% stake in Vithcia.com's third-largest shareholder, Omnitel. Widget has a 16.9% stake in Omnitel, and Omnitel also owns a 5.1% stake in Widget.

All three stocks rose sharply and fell. Omnitel recorded 13,300 won in December, the same year, at 2,760 won in March. In particular, there has been a controversy in the news that an Internet media company has intervened in these events.

However, the performance of these stocks has improved significantly due to Bitsumer. Vident, which posted a net loss of W21.8bn in 2016, turned profitable, posting a net profit of W33bn last year.

In addition, share prices have shown a big move as virtual currency related stocks such as Hanil Vacuum, SCI valuation information, Ettinum Investment, and Cacao have also been included.

The volatility of virtual money-related stocks is expected to continue for some time in the future. Government regulation of virtual currency continues, and even the prospects of foreign experts are staggering.

US global investment bank Goldman Sachs predicted that in the long run, virtual money would fall to zero in the long run, comparing the virtual money market to the Internet bubble of the late 1990s. Nouriel Roubini, a professor at New York University who is also known as "Doctor Doom," also predicted that the price of a virtual call bit coin would fall to $ 0.

CNBC, a US economic news media, cited virtual money experts, saying, "Bitcoin prices are now sluggish, but they will go up to $ 50,000 at year's end." The market cap is also expected to exceed $ 1 trillion . Other IB JP Morgan also optimistic about the future, saying "virtual money will not disappear."

Experts predict that the fate of virtual currency and related stocks will be determined by how much of the underlying block chain technology develops. The Financial Services Commission has also admitted that it can not separate the public money chain from the public block chain.

"As the block chain technology develops, some virtual currencies will survive and the rest will be scrapped," said Hwang Seung-woon, a researcher at the Korea Capital Market Institute. "Without virtual money, it will be difficult to get involved in the block chain, .

Ripple, Partnership with Saudi Central Bank
"First Central Bank"

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Saudi Arabia's central bank has used its blockbuster

(Ripple. Inc), which issues a virtual currency (password) Ripple (XRP) to transfer and make payments.

"The central bank plans to run the ripple system on a pilot basis," Reuters reported on Thursday (local time).

Saudi Arabia's banks will use the block-chain XRP developed by Ripple to send money

You will be able to pay.

According to the report, the ripple official said, "(Ripple) Saudi Arabian banks are faster, cheaper,

"The central bank will be able to help banks that are interested in the program

We will provide a pilot program. "

Most of the countries in the Gulf region are concerned about 'PinTech', a new type of financial technology based on information technology.

It has shown a skeptical attitude. Last year, the Saudi Central Bank said that the beat coin transaction was out of regulation by the bank.

I also warned.

But as Bahrain seeks to use virtual money to strengthen its role as a regional financial center

Countries in the Gulf region have begun to show signs of sympathy over the last few months.

Murad Bakh Al Mansuri, the UAE central bank, said in an interview with Reuters last December

"The Saudi Central Bank will work with the Central Bank of the United Arab Emirates (UAE)

I'm working on a virtual currency issue. "

Dilip Rao, global director of infrastructure innovation at Ripple,

Said the agreement could change the perception of transactions using financial institutions' block chains. he is

"World central banks are concerned about how they can change the way they send and pay bills.

We are now looking forward to the block-chain technology as a solution to this,

Trade and commercial barriers can be lowered. "

"Saudi Central Bank will use Ripple's innovative block-chain solution.

It is the central bank and is leading the deal. "

Etherium Address (0x5faA83418712BC51938cF395FCC760D6e56081e4 )
Etherium Classic Address (0x669E0260FE3eC2CD1a3F3A58640F4950093c2E08)