Deutsche Bank Analyst: Blockchain could have prevented Soros Leak

Authorities are not the only ones who would benefit from switching global financial transactions to a common ledger, a Deutsche Bank analyst said.

Investors could also benefit from the blockchain technology

A typical example: Last month, the Dutch tax authority AFM involuntarily published records of short positions over the last four years. Among the valuable data showing investors betting against companies were numerous decisions by well-known investor George Soros.

If all this data had been stored on a blockchain, the data would not have been leaked. At least that’s how analyst Jamal Simpson explains it.

Simpson explained Bitcoin code to CoinDesk:

“That was a prime example … Distributed Ledger Technology or Blockchain Technology could have prevented this event.” The result of this Bitcoin code error (which just revealed scam according to onlinebetrug) was the publication of this information. This led to valuable insights into the investment strategies of many investors, including Soros.

Although the authorities were quick to erase the data, the damage had already been done. Among the numerous shorts were bets against several Dutch banks and the Renaissance Technologies Medallion Fund.

To shed light on the explosive nature of Soro’s investment decisions, Forbes magazine estimated that the US investor had net capital of $25.2 billion.

“I’m pretty sure that if anybody got wind of it,” Simpson said in a personal assessment, “then they’ll be able to determine who owns what, who owns what, and so they’d be able to take very strategic action against these positions.

The potential of the transition to Distributed Ledger Technology has been discussed many times by industry representatives. The term “regulatory nodes” is used here, which would provide government agencies with real-time data.

Simpson’s statements, however, also reflect some advantages of the technology for investors. The information would have been effectively prevented with a blockchain by intercepting it in the process.

Many institutions have their concerns when thinking about moving their financial transactions to a blockchain. But Simpson points out that the Soros leak points to a deeper problem in the current system.

More control of the Bitcoin code

Simpson quickly came to the realization that the required Bitcoin code publications, which are prescribed by law, can be automated. For example, last June Soros set up a Bitcoin code position against Deutsche Bank when Brexit was imminent.

In this case, Soros Investment was above the minimum disclosure limit. This is another example of how protection for investors and required publications can be programmed into self-executing contracts of blockchains.

Simpson told the skeptics of the finance blockchains:

“There is more than one way to secure information, even if you don’t use blockchain technology. But I’m just saying, if you want to use blockchain technology, then it’s possible. It’s technically possible to achieve more security.”

Bitcoin lottery at the German horse betting provider JAXX

The booming internet currency Bitcoin is the main prize of a JAXX lottery for the Great Week in Baden-Baden – participation is free of charge.

Sponsored Posts are paid items for the content of which the advertising companies are solely responsible. BTC-Echo is not responsible for the promised services or investment recommendations.
Hamburg, 23 August 2017 – If you had only bet 20 euros on the right horse in June 2010, in this case on the internet currency Bitcoin, you would be a millionaire today. At that time, a Bitcoin cost just 0.08 US dollars. Currently one unit of the digital currency is worth over 4,000 US dollars and since the beginning of this year alone the Bitcoin exchange rate has more than quadrupled. Some financial experts and investors see even more potential in this phenomenon – the forecasts range from a value of 50,000 US dollars to one million per Bitcoin in the next few years.

In countries such as Australia and Japan, Bitcoin formula is already accepted and approved as a currency

The Bitcoin formula is thus an interesting bet on the financial market – however it goes also differently and without risk: Read the interesting review about it. The horse bet offerer JAXX, which is state-licensed in Germany, organizes a profit play with attractive prices on the occasion of the large week in bathing Baden-Baden. In addition to a trip to the famous “Prix de l’Arc de Triomphe” in Paris and betting credits of 500 euros, a Bitcoin will be raffled among all participants. A main prize worth currently approx. 3,500 euros with considerable potential for value enhancement in the coming years. The Bitcoin winner is guaranteed JAXX support in receiving his prize.

The way to the Bitcoin and the other winnings is simple: Each bet placed during the promotion period (23 August to 19 September) on www.pferdewetten-jaxx.de corresponds to one lot in the pot. New customers have with their welcome bonus at a value of 5 euro with a minimum employment of only 0,50 euro per bet thus up to ten free chances of winning on the Bitcoin and further attractive prices.

The Great Week in Baden-Baden is considered the flagship of German gallop racing and attracts international attention. Within the framework of this event, the highest prize money in Germany will be paid out, most group races will be held on a total of six race days and the most beautiful hat creations will be presented by the ladies. The high-class races will be broadcast live in the video stream at www.pferdewetten-jaxx.de

About Bitcoin trader

JAXX has been a reliable partner for horse betting in Germany since 1999. As an official partner of the German racing sport and nationwide licensed Bitcoin trader provider, JAXX offers a comprehensive range of national and international bets on horse races. With JAXX, Bitcoin trader not only have the opportunity to place their bets around the world and around the clock, but also to follow the races live via video stream. Over 15 million bets have already been placed on JAXX since the start of betting operations. JAXX fully complies with the requirements of the State Treaty on Gaming (Staatsvertrag zum Gl├╝cksspielwesen in Deutschland) and has both a bookmaking licence and a licence to organise and place horse bets on the Internet. The Darmstadt Regional Council acts as the nationwide competent licensing and supervisory authority. A bet tax in the amount of 5% on the bet is paid to the tax office Frankfurt a. M..

Bitstamp: Bitcoin stock exchange aims to attract institutional investors

Bitstamp, one of the largest Bitcoin exchanges, wants to attract more (and above all larger) investors in the future. In this context, the operators of the exchange have decided to use a technology in the future to make the processes on the exchange more transparent.

Bitcoin news: New system to bring in big money

Bitstamp now wants to confront these problems. To this end, Nejc Kodric, CEO of the Luxembourg-based Bitcoin news company, announced: https://www.geldplus.net/en/bitcoin-news-trader-review/ “We have committed ourselves to crypto in the long run. We want to ensure that market data is both genuine and transparent to help the industry grow.”

As you can see from the Twitter post, the blockchain company has joined forces with Irisium to do this. The company offers software solutions for monitoring trading activities. By using the software, Bitstamp should ultimately ensure that there is no market manipulation. In addition, Irisium says it has the ability to publish the analysis results. This enables regulatory authorities to check whether the Bitcoin Exchange is doing the right thing.

Questionable Bitcoin formula shapes are not uncommon

The Bitcoin formula universe continues to provide reliable reasons that deter institutional investors according to onlinebetrug. One remembers the probably most famous crypto scam around the still unsolved machinations of the stock exchange Mt.Gox. It gave the go-ahead for a series of questionable actions in the blockchain area. Bitfinex caused a sensation here recently. In this country, it is still the Causa Envion that cast a shadow over the security image of the scene.

One of the most promising Bitcoin bull narratives is that of institutional investors. They are supposed to flush the big money into the Bitcoin ecosystem. But according to the same narrative, one thing still holds them back: the lack of security. On the one hand, it is the Bitcoin exchanges that still do not radiate enough trustworthiness. Lack of security precautions and morally flexible personnel are certainly the biggest obstacles here. The other side is the lack of regulatory security. A lion’s share of government authorities still do not know how to treat the new financial technology Bitcoin and all its offspring.