EncryptoTel weekly digest 15.04.20
Winter for the venture capital market, Google vs. Zoom and opportunities for Bitcoin
Tips for Startups: How to Work in Asian Markets
The recent demo day for Mobile Only Accelerator (MOX) was moderated by William Bao Bin, SOSV venture capital managing partner. The event was also attended by Sachin Bhanot, co-founder and managing partner of Monk’s Hill Venture and head of Capital Group. Participants discussed the latest trends in venture capital investment in Southeast Asian markets and shared their experience in this area.
1. Hybrid models are suitable for China and India. These may be business models already tested in other markets, but we must not forget about their adaptation to the Asian market.
2. Cross-border decisions need to be made. Even if your project is focused on a specific region, consider the way how it can develop within the global market.
3. Winter has come on venture capital markets. Only truly profitable models are attracting financing. Therefore, projects need to be extremely careful with their development strategy. Over the next three years it will be difficult to attract new funding.
4. It is necessary to increase profitability, and this process should be continuous. The sustainability of the business depends on this. The current pandemic situation exposes the problems of business efficiency.
5. The product must be integrated into the global value chain. This will allow the project to successfully grow.
6. We must look for ways to capitalize on market inefficiencies.
Opinions: Bitcoin may drop to $ 3,000, but then grow to $ 1 million
BitMEX cryptocurrency exchange CEO Arthur Hayes predicts a possible drop in the Bitcoin exchange rate to $ 3,000. According to him, the first cryptocurrency will be pulled down by the falling stock market, with which bitcoin is highly correlated.
“Bitcoin may be in a difficult situation. Can its price test a level of $ 3,000? Yes, of course. The S & P500 is preparing to drop to 2,000, which means that all assets will sag again.” He believes that markets will show the strongest volatility in 100 years.
“From early February to mid-March, the global stock, commodity, currency and cryptocurrency markets experienced one of the most brutal sales in history. This was triggered by a huge liquidity crisis caused by investors who sold stocks on fears of the COVID-19 pandemic and its economic consequences “, said Nicholas Pelekanos, head of sales at NEM Ventures.
But in the long run, Bitcoin is likely to grow in value and can even go up in price to $ 1 million. This perspective was drawn by the director general of Social Capital venture company Chamata Palihapitya. At the same time, he warns that Bitcoin is unlikely to ever be able to replace fiat currencies.
Google forbids employees to use Zoom for video conferencing
The corporation sent a letter to its employees forbidding the use of Zoom. The letter was received by all employees who had this application installed on work computers. The letter said that the application will no longer be available on their working gadgets this week due to security issues.
“We have long been banned from using applications that are not approved or included in our corporate network,” a Google spokesman said, and confirmed the ban on Zoom. According to him, Zoom does not meet corporate security standards. But employees can still use this application to communicate with their friends and loved ones through a web client or smartphone.
Zoom was criticized for the imperfection of their security system, after hackers leaked some video conferences to the network amid growing demand for the service. Google has its own Meet video conferencing application.
US cloud solutions provider introduces blockchain
Salesforce, a CRM system developer and provider of cloud solutions for business, uses blockchain for decentralized data storage in order to increase the immutability and security of information. The commercial blockchain Lition was chosen for integration.
Dependence on fully centralized data creates operational risks, since there is no guarantee that this data can be extracted. Blockchain compatible with the requirements of the European regulation on data protection is the best way to partially eliminate this dependence in a decentralized way,” the Lition blog says.
Salesforce has a customer base of more than 150,000 users, from small businesses to large companies. Through a personal account in the Salesforce cloud application, they will be able to record, confirm and protect important confidential data.
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