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Meanwhile, all transactions are time-stamped and aggregated on the global Blockchain, meaning audits can be conducted on an ad hoc basis remotely and immediately whenever compliance problems emerge. Any accompanying documents and notes are also preserved in such a way that they cannot be tampered with. As well as the native BCT Token, which is used to power the ledger, an ERCcompliant token allows users to subscribe to applications and access services.
The rollout begins BCT is hoping that Blockchain terminals will be delivered to hedge funds and other financial institutions by April The BCT public pre-sale is ongoing, following a successful private presale and airdrop, the company said. By the third quarter of , BCT is aiming to launch a retail version of its terminal that will fuel the adoption of its technology.
The tools they use are limited and cannot ensure full transactional transparency and security. There are high management fees, which compel many investors to look for alternatives Blockchain Terminal Breaks through to the Hedge Fund Industry Crypto-powered Institutional Grade Platform — Blockchain Terminal BCT , brings all the essential tools hedge funds and wealth management companies need to trade cryptocurrency on a secured, single-interfaced platform.
As cryptocurrency investment funds increase in popularity, terminals like Bloomberg must adapt to market demands or be left behind. The solution is to embrace the perks offered by Blockchain technology in order to preserve their clientele. The platform will combine relevant data from cryptocurrency exchanges, news articles, blogs, and social media; as well as vital information on emerging ICOs.
The hardware behind BCT will therefore paint a clean picture of how the crypto market functions in real time. Featuring a powerful, fully-stable compliance framework, the end goal is to assist hedge fund compliance professionals in complying with applicable regulatory requirements. The first is exchange integration, which uses Compliance Guard to convey relevant data on 1, cryptocurrencies in a compliance vetted environment. The second is identity verification, which provides users with role-based identities to establish trust and craft a transactional accountability layer.
The third feature is the app ecosystem; an open-source application store for third-party developers. They can contribute to the platform by creating tools for cryptocurrency and traditional assets on par with current compliance requirements. The native BCT token powers the ledger, whereas the second token, which is ERCcompliant and built on Ethereum, becomes available through the token sale and is meant to act as a subscription and entitlement token for all services offered by the native BCT.
Together, the goal is to make sure all activities happening on the platforms are performed safely and securely. Following the pre-sale, the public sale is to commence on April 1 and continue till April 15th, Mar 23, Our latest blog post is up! Stephen Hawking wrote the handbook on how financial institutions should handle the challenges posed by cryptocurrencies.
Okay, it was not a handbook, and clearly, Hawking was not talking about cryptocurrencies. However, it was terrific advice, nonetheless. When Blockchain launched, its intent was to break up the monopoly of the financial establishment. Blockchain is certainly spawning some questionable new businesses, as well as a host of offerings with incredible potential.
But they also know the technology offers them a lot of the solutions they need. Arguably their greatest immediate need is the ability to trade cryptocurrencies, and generally participate in the cross-border, open-source money movement, in a safe and compliant way. However, many hedge funds lack the IT infrastructure for trading cryptocurrencies. But beyond the exchanges, blockchain technology has the potential to streamline transactions, improve compliance, reduce risk, decentralize tasks — and dramatically cut costs.
In fact, some of the estimated savings quoted in reports are truly staggering. There are many different tasks for which blockchain technology could lower costs. It could dramatically reduce the maintenance and replacement costs associated with aging IT infrastructure.
Additionally, it could simplify and speed up the transfer of payments, particularly across international borders. It could improve the accuracy of trades and shorten the duration of the conciliation and settlement processes. Also, it could execute smart contracts securely, eliminating unnecessary legal transactions.
It could simplify online identity management. Plus it could streamline verification and fraud analysis. Of course, it could aid regulatory compliance. It could completely change the cost dynamics in these organizations. For a start, replacing entire legacy systems at the enterprise level would be a massive project and the high cost would likely be prohibitive, particularly since most organizations run on mainframe systems.
The notion of decentralizing trust would represent a major step, requiring the creation of vast and secure networks. Given that blockchain is still an emerging technology, there are obvious concerns around performance, scalability, security and the lack of regulation. Some have suggested that blockchain technology might actually lead to more expensive transactions, given the number of network nodes required to complete the process. More than 40 global banks are actively studying the technology via the R3 Distributed Ledger Group consortium.
And although a few large global banks are funneling resources towards patenting their own blockchain-based systems, most of those that do run a blockchain system partnered with a FinTech company. This month, our company, BCT, is excited to launch a cost-effective blockchain solution for hedge funds and other financial institutions, called The Blockchain Terminal. The Terminal is a one-stop desktop interface that integrates all the tools and information needed to trade cryptocurrencies, with great security and compliance.
Comprising two inch curved screens, BCT offers an information feed, aggregating news, and data from cryptocurrency exchanges and 1, crypto currencies, plus ICO info and updates from 40, media outlets. It also provides advanced trading data analytics and charting tools for all strategies, and it offers an open app store for institutions. Importantly, the Blockchain Terminal comes with proven, gold-standard compliance monitoring and audit trail technology, ComplianceGuard, that fulfills even the strictest hedge fund requirements.
Powered exclusively by BCT utility tokens, the Terminal is currently being piloted at 20 hedge funds and will launch officially by the end of Q1. As companies become increasingly comfortable with the new technology, the use of blockchain-based apps among the institutions is likely to continue to grow. The sequence goes like this: the printing press closed the knowledge gap, the combustion engine closed the power gap, while the internet continues to close the distance gap.
Blockchain, Etwaru declared, will close the trust gap. I would argue that if you are an organization in one of the more heavily regulated industries — like finance and healthcare — you might be equally interested in whether it can close the compliance gap. Institutions must constantly keep pace with a myriad of reporting requirements that require them to know their customers KYC more deeply than almost anyone in any other industry, and ensure that their actions do not facilitate money laundering AMC or any other form of fraud.
Few doubt that, on the face of it, blockchain technology has the potential to revolutionize the transaction process and aid the compliance efforts of financial services providers. The notion of accessing an immutable, distributed ledger featuring crypto technology for the identification, verification and traceability of transactions, is a mouthwatering prospect. The thought that we can move beyond trying to anticipate the future thoughts of a single, centralized regulatory authority is, in and of itself, appealing to many.
The blockchain vision is for financial institutions to share an integrated system that not only handles the KYC and AML processes but offers audit access to third-party regulators. In those respects alone, it sounds like the regtech equivalent of the moon on a stick. But, of course, the cryptocurrency world is a volatile and risky place to play, and for hedge funds and other institutions, there are plenty of hurdles to blockchain adoption, mainly centered around technology, compliance and cost.
For starters, an enterprise-wide deployment of blockchain technology — as in, replacing every legacy transaction system — would represent a seismic and prohibitively costly operation for most organizations. Also, even those solutions that are designed to integrate with existing systems are distinctly lacking in compliance tools.
It is not that the industry ever made a collective decision to avoid the blockchain party. On the contrary, institutions are experiencing a high demand for digital currencies, and there is every reason to believe that there are billions sitting on the hedge-fund sidelines because of compliance risks. Most of these organizations currently lack the trading infrastructure to play in the crypto space.
Which begs the question: Where are the startups and the solutions? Actually, that is exactly what our company, BCT, is trying to do. This month we roll out our Blockchain Terminal, a one-stop crypto interface, integrating all the tools and information that institutions need to purchase cryptocurrencies. BCT is a professional-grade information feed, aggregating news, and data from the top cryptocurrency exchanges and 1, crypto currencies, along with ICO information and updates from 40, media outlets.
Second, it provides advanced trading data analytics and charting tools for all trading strategies. Third, it comprises an open app store for institutions along with apps for front, middle and back office. Fourth, and most critical, it comes with top-notch compliance monitoring and audit trail foundation — the missing pieces. At the heart of the offering is the proven ComplianceGuard technology, a deep-compliance framework that satisfies even the strictest hedge fund requirements, and already boasts 88, users throughout the industry.
Powered exclusively by BCT utility tokens, the Blockchain Terminal is currently being piloted at 20 hedge funds and will launch officially by the end of Q1. The core idea is to give hedge funds and other institutional investors an option for high-compliance trading of cryptocurrencies.
If companies jump on board, the product could spark a significant shift in regulatory dynamics. Not only will institutions enjoy cost savings from sharing the burden of fulfilling the KYC and AML commitments, but with a regulatory body able to view all transactions in a network, the onus will shift to the financial institution to take a more active role in identifying fraud analysis of transactions in real time.
And providing the regulators are ready, this could go some way to close that compliance gap. However, it has been a wild ride for many hedge funds in the last couple of years. A report from Preqin at the end of August showed that a good part of the challenge was due to a negative perception of the industry as a result of weak performance in recent years coupled with high fees.
As a result, you can bet that hedge fund managers watched closely as the crypto-boom of reverberated around the world. Despite being famed for their willingness to take risks, most hedge funds have been forced to watch the upward climb of cryptocurrency prices with their hands tied due to investment mandates and security issues. All of that is quickly changing, however, as new ways for hedge funds to get involved are emerging.
The solution to this conundrum is the Blockchain Terminal: a platform for best of breed data, analytics and execution solutions that will give hedge funds and other institutional investors the tools they need to enter the world of cryptocurrencies. The goal of the Blockchain Terminal is to facilitate real-world trust relationships between financial asset managers, auditors, and regulators.
The gas for the system will be an Ethereum ERC20 token, the BCT token, that will be used to purchase apps and pay transaction fees within the ecosystem. Join us on Telegram for a lively conversation with the Blockchain Terminal team and our advisors.
It will, therefore, provide hedge fund users with institutional-grade data and execution for cryptocurrency trading, and a best of breed collection of applications. How do we know that the hedge fund community wants our technology? Before we saw the proof from the long wait times we witness at events where we show off our terminal, we saw a number of industry trends that pointed us in that direction. Hedge Funds Are Big on Technology Technology solutions are currently disrupting the financial services sector at a fast pace, and the hedge fund industry has been a big part of that.
That number has risen steadily in recent years and is expected to rise at even greater rates. Gone are the days when hedge fund managers were able to move on a hunch or a bet. The rise of powerful new analytic and back-end tools has brought technology into the heart of investment decisions. However, are they really interested in cryptocurrencies? Evidence that Hedge Funds Are Eager for Crypto A number of studies have shown that hedge funds have quietly begun investing into cryptocurrencies.
The Opportunity for Developers So how can developers take advantage of the opportunity the Blockchain Terminal has created? To open the doors as wide as possible to blockchain developers, we have created three classes of applications that we partner with. Contained Applications Blockchain Terminal Contained Applications are to be executed in the runtime scope of Blockchain Terminal hardware and its local resources.
In contrast, Blockchain Terminal Metered Applications are designed for hosting independent of Blockchain Terminal hardware, while still registered for use with local APIs. In many ways, Contained Applications will live on their own but rely on Blockchain Terminal infrastructure for integration and other leveraged platform components: logging, persistence, and identity management.
Metered Applications Blockchain Terminal Metered Applications are applications that can be listed for subscription and use within the Blockchain Terminal but will not be executed in the runtime scope of the Blockchain Terminal hardware and its local resource. While the runtime of Metered Applications is to be hosted elsewhere in the enterprise, Metered Application registration, billing, and support will continue to be managed from the Blockchain Terminal after installation.
These applications may be registered with the Blockchain Terminal for product placement. When users select a Linked Application, they will be brought to a non-integrated application in a different online location. These applications will be curated applications that are promoted to Blockchain Terminal users. Conclusion Each application available in the Blockchain Terminal will be the best of breed. We are committed to building out a robust developer program for third-party developers and vendors.
Qualified developers can contact Gabriel Ortiz to get involved. But when you look at the nuts and bolts of trading and transaction, it is clear that the crypto industry still has a long way to go. For example, trading crypto is more inconvenient than regular stock trading by orders of magnitude. Between irritating Know Your Customer KYC and Anti-Money Laundering AML requirements, inconvenient trading platforms, and poor customer service support, trading crypto is much more basic than conventional investors would be used to.
With mass reports of institutional investors from Goldman Sachs to George Soros getting involved in crypto trading, there is clearly a gap to be bridged between the way we trade and the way we should be trading. One way that the trading experience for conventional investors is so much better than crypto is the technology they use. Trading terminals like that of Bloomberg allow for rapid deep analysis and transactions to be made. This is missing from the crypto industry, and traders are losing out as a result.
However, Blockchain Terminal is a company addressing this need with their new terminal which could act as an essential tool for all serious investors. Cryptocurrency exchange integrations utilize ComplianceGuard technology to display information on the vast majority of approximately 1, cryptocurrencies, all in a compliance-vetted environment. The team hopes that this array of benefits will be of interest to both experienced crypto traders dissatisfied with the clunky nature of current trade and to traders who are new to crypto and want to keep using the kind of effective solutions they are accustomed to.
For this reason, the BCT team is releasing a token which should also help spread the word about their platform. The BCT token sale is live and will run until April 30 with no minimum buy-in at tokensale. Users will have priority access to the Gemini exchange through a private cross-connection.
Blockchain Terminal offers third party crypto-trading tools, information, content and data from more than 80 exchanges in order to give traders a better view of the cryptocurrency market, according to a press release. The platform is currently in beta testing with hedge funds. A wider launch is slated for the third quarter of Gemini is the fifth fully executable exchange on Blockchain Terminal. We see a price. We see a demand, and a supply.
We hope to be on the right end of that seesaw. But what we cannot do, is understand the entire cryptocurrency market — the or more exchanges, the tens of thousands of buy and sell orders beyond our immediate grasp. Even if we could load them individually, even if we had gone through the painstaking process of KYC for every one of those exchanges… we could never switch between them quickly enough to use the information we had worked so hard for.
What we see, is not necessarily what is. From Compliance To Cryptocurrency Blockchain Terminal BCT has been under development for three years — initially, through its ComplianceGuard product, which provides a means of providing traditional Hedge Funds and smaller investment companies with information related to audit trails, business rule logic, and exception alerts as a blatant example, imagine that a fund is precluded from investing in a certain country, and then ignores the embargo — an exception alert would catch this kind of activity.
The upshot of this, is that Blockchain Terminal was designed from the ground-up with compliant institutional investors in mind. In New York, a look at the progress since January brought the concept home, and made me realize that crypto trading is about to change completely. The Blockchain Terminal itself looks cool. A pair of ultrawide monitors stacked vertically, covered with information — mostly familiar, but never presented in one single interface before — and all of which is very… cool.
The hardware is almost as engaging as the software. The user experience is vital when it comes to driving a sports car, or playing a video game — why not create something just as dynamic and immersive for crypto trading? Sitting down at this device makes me want to crack my knuckles, loosen my ngers.
It feels like getting down to business. The Blockchain Terminal fullls several functions: Exchange Integration The project aims to include dozens of exchanges with a consolidated order book. When ordinary crypto traders, most of us, make a trade on an exchange we are seeing one fragment of the crypto universe. But Blockchain Terminal brings almost the entire ecosystem into one place.
You want to buy 20 ETH of Quantstamp today? But the consolidated order you place through Blockchain Terminal will actually spread your buy across all supported exchanges, buying 20 ETH at the lowest possible rate even if it buys a fraction on Binance, a fraction on Huobi, a fraction on a dozen other exchanges… and delivering the resulting QSP to a consolidated wallet.
As for your wallet, it acts as any other wallet — you load it, you transfer the tokens, you buy and sell, you save your favorites to your hardware device.
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A short-selling hedge fund would have done well in the first quarter of the year whereas the losers in appear to have been pure risk-takers who expected crypto prices to continue their upwards trajectory. Recall that George Soros is known as the man who broke the British bank after he shorted the British pound in and made one billion dollars.
No matter the speculative asset, the hedge fund manager has claimed to never put more than 30 percent of his capital at risk. Real-Time Crypto Trading Compliance The new hedge fund entrants to the cryptocurrency markets are a sign that opportunity still abounds for astute traders and risk managers. More importantly, new institutional-grade trading technology is being developed for cryptocurrency markets.
The Blockchain Terminal BCT , for instance, could have helped the defunct hedge funds monitor cryptocurrency compliance and trading risks in real time. The BCT creates a complete compliance loop by connecting regulators, hedge funds, and their compliance departments through transparent, encrypted trading records with embedded audit functionality. The advanced trading tools and services provided by the terminal, meanwhile, allow institutional traders to improve trading and risk management performance.
Designed for the converging crypto and traditional currency trading worlds, BCT could help hedge funds lower their rising compliance costs. Regulators have been pushing often opaque hedge fund trading activity into the spotlight with tightening trade reporting requirements. On the transparent Blockchain, transactions are executed by smart contracts, which link each transaction to the one before it, creating an immutable and trackable trading record.
As mentioned, institutional-grade compliance and auditing functions are embedded in the system. Real-Time Crypto Trading Compliance The Blockchain Terminal provides a full suite of cryptocurrency trading tools and services over the secure digital ledger, including an institutional-grade order system, data, analytics, compliance monitoring and back-office functions.
USB ports make it easy to plug in a hardware wallet. A full view of trading activity can be provided across over 60 crypto exchanges and thousands of currencies alongside data, news, and social media streams. On this hybrid Blockchain, a private Blockchain maintains all private account and trade information while timestamped transactions are executed on a public Blockchain. The open source code allows third-party developers to develop trading algorithms and tools, which could be either proprietary or public.
If institutional investors who spend billions of dollars a year on proprietary software development embrace the improved economics and efficiencies of the shared economy model, the BCT could become the Metatrader of the institutional crypto world. One of the risks defunct hedge funds faced in the young cryptocurrency markets was the slow execution times when trading across the many disparate exchanges. Currently, tracking trade performance such as the aggregate value of open trade positions or unrealized gains is slow and inefficient across the various platforms.
Engineered for professional trading, the robust Blockchain Terminal provides a consolidated order book to provide real-time buying and selling data on crypto and fiat assets across many exchanges and currencies. Trading speed, as in the forex markets, will be a key competitive advantage in cryptocurrency and converged crypto-fiat trading.
The Blockchain Terminal is currently being tested by several dozen hedge funds with several billion dollars in assets under management. Hedge funds struggling to adapt trading systems for cryptocurrencies can be up and running with the Blockchain Terminal and gain a complete picture of the crypto market.
The initial coin offering is live and running until April 30, Join the token sale at tokensale. The BCT platform provides a robust layer of security and functionality to familiar tools, and capabilities that advance the current strategies of traditional investment managers, and also supports the complexities of cryptocurrency markets.
Emerging cryptocurrency- focused investment funds enjoy sophisticated platform tools for both front and back office operations along with the added value and assurance of a compliance framework that provides security for investors across this rapidly emerging asset class. The central distinguishing feature of BCT is a hybrid ledger that integrates both a private and a public, permissioned blockchain to enable its core services.
This hybrid ledger is anchored to the broader Ethereum blockchain, which can be freely used and addressed by BCT applications, a set of modular productivity tools and services that are supported by the Blockchain Terminal Foundation. This journaled data interacts with the global BCT permissioned ledger to provide an external anchor for internal activity that can be observed and verified by external constituents, including auditors and regulators without compromising confidentiality.
The supporting BCT token facilitates the functions of this platform and enhances the convenience of the BCT as a showcase mechanism for a new generation of best-of-breed applications for the industry. Blockchain Terminal says several alpha terminals are already in use — and right now, beta machines are being built in New York. To add insult to injury, existing systems for trading crypto lacked the compliance capabilities that the sector so desperately needed.
The company says a bridge between crypto markets and institutional investors is achieved through ComplianceGuard — an application it has created to surpass the stringent standards imposed by hedge funds. A utility token known as BCT has been created, and this will be used for completing all of the functions that the terminal provides.
Last autumn, a survey conducted by BarclayHedge revealed that one in four hedge funds are either already investing in crypto or want to begin doing so over the next six months — a snapshot of the growing momentum these assets are experiencing. New terminal enhancements planned As the first Blockchain terminals are put to the test, the company is already thinking ahead and mapping out new features for the future. Initially, the machines will be equipped with USB ports to ensure they are compatible with hardware wallets — and over time, the interface will be made available on mobile and tablet devices so institutional investors are just a tap away from the latest data.
Looking ahead to the future, the company hopes to launch a retail-friendly of its terminal by the autumn — further accelerating the adoption of its machines. Known as BCT for short, the desktop system combines the resources that analysts, portfolio managers, traders and chief compliance officers need to capitalize on investment opportunities.
Mobile and tablet versions of the interface are expected to follow, meaning real-time data can be accessed on the move. This comes as interest in cryptocurrency among hedge funds continues to grow at a steady pace. A recent study by BarclayHedge found 25 percent of managers are already investing in cryptocurrency or intend to begin doing so in the coming six months. Meanwhile, a further eight percent are exploring the possibility. Meanwhile, research from AutonomousNext suggests there was an explosion in the number of crypto funds in Compliance as a cornerstone In its white paper, BCT says that the financial crisis and headline-grabbing cases of fraud, when coupled with the high fees that investors are paying for diminishing returns, have transformed attitudes when it comes to transparency, accountability and compliance.
The cornerstone of its platform is ComplianceGuard technology. Meanwhile, all transactions are time-stamped and aggregated on the global Blockchain, meaning audits can be conducted on an ad hoc basis remotely and immediately whenever compliance problems emerge. Any accompanying documents and notes are also preserved in such a way that they cannot be tampered with.
As well as the native BCT Token, which is used to power the ledger, an ERCcompliant token allows users to subscribe to applications and access services. The rollout begins BCT is hoping that Blockchain terminals will be delivered to hedge funds and other financial institutions by April The BCT public pre-sale is ongoing, following a successful private presale and airdrop, the company said.
By the third quarter of , BCT is aiming to launch a retail version of its terminal that will fuel the adoption of its technology. The tools they use are limited and cannot ensure full transactional transparency and security. There are high management fees, which compel many investors to look for alternatives Blockchain Terminal Breaks through to the Hedge Fund Industry Crypto-powered Institutional Grade Platform — Blockchain Terminal BCT , brings all the essential tools hedge funds and wealth management companies need to trade cryptocurrency on a secured, single-interfaced platform.
As cryptocurrency investment funds increase in popularity, terminals like Bloomberg must adapt to market demands or be left behind. The solution is to embrace the perks offered by Blockchain technology in order to preserve their clientele. The platform will combine relevant data from cryptocurrency exchanges, news articles, blogs, and social media; as well as vital information on emerging ICOs.
The hardware behind BCT will therefore paint a clean picture of how the crypto market functions in real time. Featuring a powerful, fully-stable compliance framework, the end goal is to assist hedge fund compliance professionals in complying with applicable regulatory requirements. The first is exchange integration, which uses Compliance Guard to convey relevant data on 1, cryptocurrencies in a compliance vetted environment. The second is identity verification, which provides users with role-based identities to establish trust and craft a transactional accountability layer.
The third feature is the app ecosystem; an open-source application store for third-party developers. They can contribute to the platform by creating tools for cryptocurrency and traditional assets on par with current compliance requirements.
The native BCT token powers the ledger, whereas the second token, which is ERCcompliant and built on Ethereum, becomes available through the token sale and is meant to act as a subscription and entitlement token for all services offered by the native BCT.
Together, the goal is to make sure all activities happening on the platforms are performed safely and securely. Following the pre-sale, the public sale is to commence on April 1 and continue till April 15th, Mar 23, Our latest blog post is up! Stephen Hawking wrote the handbook on how financial institutions should handle the challenges posed by cryptocurrencies. Okay, it was not a handbook, and clearly, Hawking was not talking about cryptocurrencies.
However, it was terrific advice, nonetheless. When Blockchain launched, its intent was to break up the monopoly of the financial establishment. Blockchain is certainly spawning some questionable new businesses, as well as a host of offerings with incredible potential. But they also know the technology offers them a lot of the solutions they need. Arguably their greatest immediate need is the ability to trade cryptocurrencies, and generally participate in the cross-border, open-source money movement, in a safe and compliant way.
However, many hedge funds lack the IT infrastructure for trading cryptocurrencies. But beyond the exchanges, blockchain technology has the potential to streamline transactions, improve compliance, reduce risk, decentralize tasks — and dramatically cut costs. In fact, some of the estimated savings quoted in reports are truly staggering. There are many different tasks for which blockchain technology could lower costs. It could dramatically reduce the maintenance and replacement costs associated with aging IT infrastructure.
Additionally, it could simplify and speed up the transfer of payments, particularly across international borders. It could improve the accuracy of trades and shorten the duration of the conciliation and settlement processes. Also, it could execute smart contracts securely, eliminating unnecessary legal transactions.
It could simplify online identity management. Plus it could streamline verification and fraud analysis. Of course, it could aid regulatory compliance. It could completely change the cost dynamics in these organizations. For a start, replacing entire legacy systems at the enterprise level would be a massive project and the high cost would likely be prohibitive, particularly since most organizations run on mainframe systems. The notion of decentralizing trust would represent a major step, requiring the creation of vast and secure networks.
Given that blockchain is still an emerging technology, there are obvious concerns around performance, scalability, security and the lack of regulation. Some have suggested that blockchain technology might actually lead to more expensive transactions, given the number of network nodes required to complete the process. More than 40 global banks are actively studying the technology via the R3 Distributed Ledger Group consortium.
And although a few large global banks are funneling resources towards patenting their own blockchain-based systems, most of those that do run a blockchain system partnered with a FinTech company. This month, our company, BCT, is excited to launch a cost-effective blockchain solution for hedge funds and other financial institutions, called The Blockchain Terminal. The Terminal is a one-stop desktop interface that integrates all the tools and information needed to trade cryptocurrencies, with great security and compliance.
Comprising two inch curved screens, BCT offers an information feed, aggregating news, and data from cryptocurrency exchanges and 1, crypto currencies, plus ICO info and updates from 40, media outlets. It also provides advanced trading data analytics and charting tools for all strategies, and it offers an open app store for institutions. Importantly, the Blockchain Terminal comes with proven, gold-standard compliance monitoring and audit trail technology, ComplianceGuard, that fulfills even the strictest hedge fund requirements.
Powered exclusively by BCT utility tokens, the Terminal is currently being piloted at 20 hedge funds and will launch officially by the end of Q1. As companies become increasingly comfortable with the new technology, the use of blockchain-based apps among the institutions is likely to continue to grow.
The sequence goes like this: the printing press closed the knowledge gap, the combustion engine closed the power gap, while the internet continues to close the distance gap. Blockchain, Etwaru declared, will close the trust gap. I would argue that if you are an organization in one of the more heavily regulated industries — like finance and healthcare — you might be equally interested in whether it can close the compliance gap.
Institutions must constantly keep pace with a myriad of reporting requirements that require them to know their customers KYC more deeply than almost anyone in any other industry, and ensure that their actions do not facilitate money laundering AMC or any other form of fraud.
Few doubt that, on the face of it, blockchain technology has the potential to revolutionize the transaction process and aid the compliance efforts of financial services providers. The notion of accessing an immutable, distributed ledger featuring crypto technology for the identification, verification and traceability of transactions, is a mouthwatering prospect.
The thought that we can move beyond trying to anticipate the future thoughts of a single, centralized regulatory authority is, in and of itself, appealing to many. The blockchain vision is for financial institutions to share an integrated system that not only handles the KYC and AML processes but offers audit access to third-party regulators.
In those respects alone, it sounds like the regtech equivalent of the moon on a stick. But, of course, the cryptocurrency world is a volatile and risky place to play, and for hedge funds and other institutions, there are plenty of hurdles to blockchain adoption, mainly centered around technology, compliance and cost.
For starters, an enterprise-wide deployment of blockchain technology — as in, replacing every legacy transaction system — would represent a seismic and prohibitively costly operation for most organizations. Also, even those solutions that are designed to integrate with existing systems are distinctly lacking in compliance tools.
It is not that the industry ever made a collective decision to avoid the blockchain party. On the contrary, institutions are experiencing a high demand for digital currencies, and there is every reason to believe that there are billions sitting on the hedge-fund sidelines because of compliance risks. Most of these organizations currently lack the trading infrastructure to play in the crypto space. Which begs the question: Where are the startups and the solutions?
Actually, that is exactly what our company, BCT, is trying to do. This month we roll out our Blockchain Terminal, a one-stop crypto interface, integrating all the tools and information that institutions need to purchase cryptocurrencies. BCT is a professional-grade information feed, aggregating news, and data from the top cryptocurrency exchanges and 1, crypto currencies, along with ICO information and updates from 40, media outlets.
Second, it provides advanced trading data analytics and charting tools for all trading strategies. Third, it comprises an open app store for institutions along with apps for front, middle and back office. Fourth, and most critical, it comes with top-notch compliance monitoring and audit trail foundation — the missing pieces.
At the heart of the offering is the proven ComplianceGuard technology, a deep-compliance framework that satisfies even the strictest hedge fund requirements, and already boasts 88, users throughout the industry. Powered exclusively by BCT utility tokens, the Blockchain Terminal is currently being piloted at 20 hedge funds and will launch officially by the end of Q1. The core idea is to give hedge funds and other institutional investors an option for high-compliance trading of cryptocurrencies.
If companies jump on board, the product could spark a significant shift in regulatory dynamics. Not only will institutions enjoy cost savings from sharing the burden of fulfilling the KYC and AML commitments, but with a regulatory body able to view all transactions in a network, the onus will shift to the financial institution to take a more active role in identifying fraud analysis of transactions in real time.
And providing the regulators are ready, this could go some way to close that compliance gap. We hope to be on the right end of that seesaw. But what we cannot do, is understand the entire cryptocurrency market — the or more exchanges, the tens of thousands of buy and sell orders beyond our immediate grasp.
Even if we could load them individually, even if we had gone through the painstaking process of KYC for every one of those exchanges… we could never switch between them quickly enough to use the information we had worked so hard for. What we see, is not necessarily what is. From Compliance To Cryptocurrency Blockchain Terminal BCT has been under development for three years — initially, through its ComplianceGuard product, which provides a means of providing traditional Hedge Funds and smaller investment companies with information related to audit trails, business rule logic, and exception alerts as a blatant example, imagine that a fund is precluded from investing in a certain country, and then ignores the embargo — an exception alert would catch this kind of activity.
The upshot of this, is that Blockchain Terminal was designed from the ground-up with compliant institutional investors in mind. In New York, a look at the progress since January brought the concept home, and made me realize that crypto trading is about to change completely.
The Blockchain Terminal itself looks cool. A pair of ultrawide monitors stacked vertically, covered with information — mostly familiar, but never presented in one single interface before — and all of which is very… cool. The hardware is almost as engaging as the software. The user experience is vital when it comes to driving a sports car, or playing a video game — why not create something just as dynamic and immersive for crypto trading?
Sitting down at this device makes me want to crack my knuckles, loosen my ngers. It feels like getting down to business. The Blockchain Terminal fullls several functions: Exchange Integration The project aims to include dozens of exchanges with a consolidated order book. When ordinary crypto traders, most of us, make a trade on an exchange we are seeing one fragment of the crypto universe.
But Blockchain Terminal brings almost the entire ecosystem into one place. You want to buy 20 ETH of Quantstamp today? But the consolidated order you place through Blockchain Terminal will actually spread your buy across all supported exchanges, buying 20 ETH at the lowest possible rate even if it buys a fraction on Binance, a fraction on Huobi, a fraction on a dozen other exchanges… and delivering the resulting QSP to a consolidated wallet.
As for your wallet, it acts as any other wallet — you load it, you transfer the tokens, you buy and sell, you save your favorites to your hardware device. One wallet, with access to the entire cryptoverse. And all of this gives rise to an obvious question: how do you register on all of these exchanges?
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