All posts by Maximiliano Garcia

Max is a business developer with a strong management background. He expects to fund a new generation of cutting-edge tech companies in bitcoin space, contributing to a major social change in the years to come.

Bitcoin Is The World’s Best Performing Currency

Bitcoin is officially the world’s best performing currency of 2015.

During the last trimester, the most popular and widely used cryptocurrency overtook the dollar by a whopping 35%, leaving aside the strength experienced by the dollar (8.3% throughout the year).

The infographic below uses the U.S. Dollar Index as a benchmark to make the comparison against other 17 major currencies, precious metals (gold/silver) and the digital currency, Bitcoin.

bitcoin-best-currency-of-2015

 

Maximiliano Garcia
Cryptor Trust

Why Asia’s Bitcoin Blockchain Industry Will Skyrocket in 2016

The following data compilation gives us an overview on why the bitcoin, blockchain and financial tech industry might have found its innovation sweetest spot in Asia.

[#1] Asia’s wealth creation capacity is on its way Up!:

–> Asia-Pacific is projected to hold one third of global wealth in 2019.

GlobalWealthAsiaPacificExibit3

[#2] Population numbers present advantages when compared to other regions:

–> Asia represents 1/2 of the world’s population. Six of the top 10 countries in population size are Asian.

population-top-ten-countries

–> Most developing countries in Asia count with a great percentage of young population, seeing their spending waves peaking around the 2060/70s decades.

[#3] Bullish bitcoin adoption and industry development show signs of commitment and growth:

–> China registers 800,000 bitcoin users and concentrates 70% of global bitcoin trading volume

–> China holds 50% of the global mining power

–> 20 bitcoin companies are based in China. Among them, 3 of the world’s largest exchanges.

–> More than 80% of bitcoin transactions take place in Chinese Yuan.

yuan bitcoin

–> Increasing investments in the bitcoin, blockchain & financial technology sectors will accelerate developments in the APAC region. Only in 2015, the  fintech sector received $3.5 billion during the first three trimesters. Some of those companies are actively incorporating bitcoin and/or blockchain technology into their operations.

3.5 billion investment in Asia Fintech Sector

[#4] Governments starting to shape adequate environments while studying/evaluating best approach towards innovation adoption

Singapore prime minister and Chinese authorities have publicly recognized bitcoin and blockchain technology as a new reality and innovation landscape that represents a big opportunity to their country’s future development.

[#5] Internet accessibility still presenting challenges. Nevertheless, largest internet user bases are Asians:

–> Internet regional overview

internet-use-regional-no

–> China leads with 667+ million users having access to internet connectivity.

internet-users-in-china-2015
graph source komdat.com

–> In december 2015, India scaled positions and now has the second largest internet user base. Mobile phones are user’s preferred browsing device.

india-second-world-largest-user-base

–> Asia’s internet broadband and mobile speed. Some countries have performed considerable progress, while others are lagging behind.

Asia Internet Speeds
Graph by TechinAsia.com
Asia internet facts
Graph by TechinAsia.com

 

Maximiliano Garcia
Cryptor Trust

Will Block Chain Companies Undertake a $770 Billion Industry?

Remittances are a hot industry to focus on for companies and startups in the block chain tech and finTech sectors.

Previously in 2013, a press release published by the World Bank stated that global remittances represented a $550 billion dollars industry, with India and China receiving $131 billion (see graph below).

migration_brief_21_infographic

The same article stated that by year 2016 we could expect a record number in remittances, registering a flow of $707 billion.

This year (2015), the Goldman Sach’s Investment Research Report part III – “The Socialization of Finance” featured that:

– According to the World Bank, there is an estimated roughly $550bn sent internationally in 2014. We estimate the fees generated by banks and other money transfer platforms to be roughly $30bn, or roughly 6% of the total principal amount. –

We expect block chain companies to be able to offer lower fees and faster transfer with solutions that are easily accessible to everybody. These must not rely entirely on having a smart phone or fast internet connectivity since that equals (in most cases) to a relatively high entry cost for many people in the developing countries.

Max Garcia
CryptorTrust

Sources:
World Bank
The Future of Finance Report

 

The Unbanked According to the World Bank – Financial Inclusion Report

The 2014 Financial Inclusion Global Findex infographic shows a clear picture on the challenges to solve the common issues the unbanked population across the globe has to affront.

We believe Block Chain based companies have a huge opportunity to drive innovation with practical and easy to adopt applications that can serve millions of users around the world.

Infographic_v5

Source: www.worldbank.org/globalfindex

Download the full report about Global Financial Inclusion 2014 issued by the World Bank’s Findex in our Knowledge Center.

Max Garcia
CryptorTrust

Millenials Are Changing the Financial Industry…Forever!

Five key facts explain why Millenials are the major agent of change in the future of the global financial industry. We see endless opportunities for innovation in several FinTech areas like payments, credit/financing and insurance.

Print

5 KEY FACTS

– 33% of Millennials think banks will be unnecessary in five years from now
– 14% of Millenial small business owners use alternative financing rather than traditional banks
– Less than half of Millenials have a credit card
– Only half expect to use cash on a weekly basis by 2020
– 50% are counting on tech startups to overhaul banks

infographic_millenials

The infographic is part of the recently published Goldman Sachs’ Investment Research Report – The Future of Finance – Part III “The Socialization of Finance”. Find the full report in our Knowledge Center.

Following Wikipedia’s publication, “Millennials (also known as the Millennial Generation or Generation Y) are the demographic cohort following Generation X. There are no precise dates when the generation starts and ends. Researchers and commentators use birth years ranging from the early 1980s to the early 2000s.”

Max Garcia
CryptorTrust

3 Elements that influence Bitcoin Value

Where does bitcoin value come from? Lets take a look at 3 elements that are intrinsic to bitcoin’s nature.

network
Image Source – InoHow.co.uk

Bitcoin as a New Disruptive Technology – VALUE ELEMENT #1

Bitcoin as a currency, as a payment system and as a stock cannot be separated from its nature as a new revolutionary technology.

Leaving technical concepts apart, the bitcoin system provides the base for:

– Transferring money with low or none cost to any place in the world. Global acceptance and distribution!

– Empower people to become their own bank, removing the dependance on financial institutions. Freedom!

– Empower people currently out of the banking system. Democratic!

– Avoid the deflationary effects of traditional currency. Buying power!

– Pay for goods and services while protecting your personal data. Security!

Continue reading 3 Elements that influence Bitcoin Value

Buy Bitcoin in 3 Simple Ways

Cryptocurrency is a new thing for almost everybody. It is a revolutionary way of thinking money as well as using it. In this quick guide we review three options to buy bitcoin all over the world.

> 1st Option – Buy Bitcoin Face to Face from a Seller

bitcoin_payment
Illustration by Harry Campbell

Nowadays there are firm possibilities of finding other bitcoin enthusiasts in your city town that would like to make a face to face deal with you. This could be a great first experience since it allows you to research who the seller is before taking your chances, and spend some time exchanging ideas and personal experiences if you arrange the meeting.

For this purpose you can find people in many places. From eBay to Facebook and Linkedin groups, Twitter and local Meetups.

There are also companies in the bitcoin ecosystem that have seen this need and created a marketplace to connect bitcoin buyers and sellers. Two of them are LocalBitcoins and TradeBitcoin.

> 2nd Option – Buy Bitcoin Using Exchanges

Bitcoin exchanges have popped up everywhere. You can use global exchanges widely accepted in many regions, or choose a local dedicated bitcoin exchange at your country. Both options have positive and negative connotations, so you should try to make the most informed decision.

Take this three suggestions to help your decision:

A- Local exchanges are incorporated as local companies, meaning that while bitcoin might not be recognized by the local government, companies are still regulated under the jurisdiction. They pay taxes, adjust to the local legal frame and have responsibility towards customers.

B- Regional or global exchanges do not provide the advantage above, but might have enough social/user proof on their records to justify your choice. Have in mind that some of them have received large sums of money in VC funding to support their operations and take it to the next level, what doesn’t provide 100% assurance but is an element that others might not have.

C- Finally, always read the terms of use AND find where people is talking about this exchanges, whether they say good or bad things about them, testimonials are the best reference point to consider.

[Would you add other suggestions to this list? Please let me know in the comments section!]

> 3rd Option – Buy Bitcoin as an Exchange for Goods or Services

This is probably a zero risk way to build your bitcoin first capital. I’m sure you might be an specialist in something that somebody else could need and would accept as a payment for his bitcoin. In the same way, if you have goods not currently in use, you can exchange them for bitcoin. The benefits of bitcoin for small business owners are encouraging!

Maximiliano Garcia
Cryptor Trust Inc.