The biggest strengths of cryptocurrencies were highlighted recently by the system shutdown of Wells Fargo. Customers of the bank were unable to access their accounts, leaving many without the ability to make any transactions. Cryptocurrencies like Bitcoin have processed transactions 24 hours a day for over ten years without any outages. Users of cryptocurrencies have the ability to store their own assets on wallets, always having access to them without the ability of a third party failure (like Wells Fargo) to affect them. Also, the networks of cryptocurrencies is strengthened by computers distributed around the world, so even a power failure in an entire country would not affect the network. The situation that happened at Wells Fargo is never a problem that could happen with cryptocurrencies.
Venezuela could be saved by cryptocurrencies, but it will not be through a centralized cryptocurrency service that is using philanthropy to try to increase user adoption of their product. Cryptocurrencies began with the core principles of decentralization (no ownership group) and immutability (no censorship). This was a direct response to banks and governments around the world because it prevented it from being controlled. Any cryptocurrency product or service with a CEO could be corrupted just as easily as a government or political agency. The solution for Venezuela and people around the world will not be found in a sponsored Forbes article.
One of the greatest tech minds ever in Bill Gates lauding the efficiencies of cryptocurrencies is a very promising sign for the future of the technology. Also, seeing successful celebrities turned entrepreneurs investing in the cryptocurrency sector is a positive catalyst. However, paid celebrity endorsements of now failed cryptocurrencies in 2017 was a sign that the hype had developed quicker than the tech. Find out who else has used their celebrity to endorse cryptocurrencies in this article from Business Insider.
Cameron and Tyler Winklevoss have great vision - from the idea for Facebook to getting into Bitcoin in 2012.
After starting a cryptocurrency exchange in 2014, they have worked hard to comply with U.S. regulations while offering a great product. The success they missed out on with Facebook was clearly made up for with their Bitcoin investments. And their sentiment echoes one we have stated in the past: it is normal for a new asset class of this size to be volatile. We’ve seen these market cycles a couple times in since 2013 but the overall trend has appreciated in value. As we continue to see companies like Gemini following U.S. regulations and offering institutional-grade products, we will see more adoption from institutions and the entire market gaining legitimacy.
Let us state the obvious: the QuadrigaCX exchange was very irresponsible in its security protocols to be able to lose $140 million in the same way that corporations can experience data or security breach. This story highlights some of the challenges facing crypto adoption but also its strengths.
Cryptocurrencies developed with a few core principles, two of which are: security and censorship resistance. It is an advantage for many around the world to be able to own and securely store their own assets without the risk of government seizure or theft. Similarly, no organization can prevent anyone from sending transactions on the Bitcoin network. The situation at QuadrigaCX highlights the fact that there is no backdoor for anyone to access these funds and recover them. This would be a benefit if hackers were trying to steal funds from users on the exchange. But in the case that there are not proper protocols in place to protect users funds, it is quite a problem.
Someone with the background of Mike Novogratz (Partner at Goldman Sachs, Fortress Investments) leaving Wall Street and starting a cryptocurrency fund should catch the attention of savvy investors. As with most people, he heard about Bitcoin from a friend and then slowly started the process of studying what made this new frontier special. His insights here are worth listening to:
1. 2017 was a global, retail driven mania that started to unravel as regulators tapped the brakes
2. Institutional money is getting ready to invest, based on people within his network
3. Some of the smartest managers of endowment funds are looking at Bitcoin as a store of value
4. Custody is the biggest hurdle for institutions
5. Banks will experience FOMO just like retail did
Novogratz shows that the industry did not die at the end of 2017, but the infrastructure necessary for its longterm success have been developed over the last 18 months.
We love to have conversations about influencers who have the opportunity to talk about the good, bad, and ugly in Cryptocurrency.
Although very tongue and cheek- he does a great job of pointing out different aspects and why people can be so skeptical- but also provides some balance about how to think differently.
It’s a definite “vieworthly” clip.
Besides, chances are you have at least one person you know talking about crypto.
Crypto Capital is on the hunt for a Business Development Officer. If you value excellence, education, and love service- let’s talk!
SUMMARY OF POSITION
The Chief Business Development Officer is responsible for leading the development and execution of the Hedge Fund’s short and long-term sales and marketing strategy. Has the responsibility for creating, planning, implementing and integrating the capital acquisition strategic direction of the Hedge Fund. The CBDO makes certain the organization maintains constant awareness of both external and internal capital acquisition strategies for expansion, investors, marketing and new industry developments. Overseeing the complete capital acquisition operation of the Hedge Fund in accordance with the direction established in the strategic plans. Evaluating the success of the organization in reaching its fundraising goals, with strategic goals that are measurable. Participating in industry-related events or associations that will enhance the Hedge Fund’s reputation and potential of success. The CBDO will create a capital acquisition and business development strategy that will continue to grow, flourish, and enhance the skills and abilities of all partners/employees of Hedge Fund. Self motivated, dedicated and driven to succeed. Possess strong negotiation skills and can effectively advance leads through the sales cycle. SEC licensed and/or affiliated with a broker-dealer.
Capital Acquisition and Revenue Growth
• Create and implement a distribution plan targeting high net worth individuals, family offices and institutional investors • Handle inbounds and outbound requests from institutional allocators • Create and implement strategy and a process in order to make it through the due diligence process • Create, update and maintain process for lead generation and sales pipeline • Client Facing - Significant interaction with multiple types of investors, including ... • Map target clients and develop a calibrated target client list • Create strong lead generation capabilities to successfully penetrate clients at all levels
Marketing and Sales Development
• Modify and update sales and information deck for potential clients • Create, update and maintain CRM for lead generation • Develop and implement sales pipeline • Adjust sales approach and strategy accordingly to various clients • Manage the end-to-end sales process as required • Identify the most effective marketing messages, value propositions, materials, channels and calls to action • Monitor and report effectiveness of marketing programs • Act as the engine of our Sales Team • Build and manage sales pipeline • Maintain Fund integrity and legal requirements • Ability to develop sales and marketing proposals and presentations for clients in a way that adds
value to process • Ability to travel for client meetings •
• Build business through proactive customer contact which will result in meeting... • Develop a client network throughout the industry to increase CCI’s exposure and business opportunities • Analyze the market and identify potential ways to enhance CCI’s offerings • Leverage connections to garner referrals and leads from new and existing industry contacts • Identify strategic opportunities and work with the general partners to meet the Fund’s goals • Attend conferences, seminars and industry events • Support investments and growth initiatives by driving enhancements to the operational and oversight processes across distribution channels and operational platforms • Coordinate and identify opportunities to align core product management functions • Driving implementation, with oversight and reporting, of strategic initiatives • Define custom account-specific market initiatives to acquire, nurture and expand AUM • Demonstrate extensive product knowledge to our current and potential client base • Possess strong negotiation skills and can effectively advance leads through the sales cycle • Have terrific prioritization skills to identify and go after key clients • Loves to meet and exceed goals on a daily, weekly and monthly basis. • Team player with entrepreneurial spirit • The ability to come up with and willing to try new ideas to achieve greater level of success • The ability to identify and advise on the key issues blockchain clients face • Work independently and be self-directed • Strong verbal, written and presentation communication skills • Possess strong public speaking skills
• Advises fellow General Partners and employees
• Advocates/promotes Hedge Fund related to Hedge Fund mission
• Lead and motivate the General Partners and employees in Hedge Fund to develop a high performing managerial team
• Build trust relations with investors and act as a point of contact for investors
• Ensures General Partners and employees have sufficient and up-to-date information
• Looks to the future for opportunities
• Interface between investors and General Partners
• Interface between employees and General Partners
• Assures the Hedge Fund and its mission, programs, products, and services are consistently presented in strong and positive image to investors
Decision Maker and Manager:
• Formulating policies and planning recommendations to the General Partners
• Guides course of action in operations
• Oversee operations of Hedge Fund
• Implements plans
• Oversees design, marketing, promotion, sales, delivery and quality of programs, products and services
• Make high-quality decisions to advance Hedge Fund and increase profits
• Enforce adherence to legal guidelines and in-house policies to maintain company’s legality and ethics
• Review financial reports to devise solutions and improvements
• Analyze problematic situations and provide solutions to ensure Hedge Fund Survival and growth