According to Investing.com, not very long back, the total number of cryptocurrencies in the world was evaluated to have passed 2,000. This makes for a total market cap of nearly $200 billion. A number of digital currencies have also gained popularity over the major cryptocurrencies like Bitcoin, Ethereum and Ripple.
Launched in 2017, SPINDLE(SPD) is both a cryptocurrency and an asset management platform which pledges on transparency using blockchain technology. It raised about $100 million worth of funds in its initial coin offering, which makes it one of the biggest ICOs ever in Japan. In the first half of, 2018 SPINDLE began trading on five major global exchanges aiming for higher with operations in London.
With a small staff of only 15, now based in London, it has positioned itself as an innovative new force in the crypto industry.
Professional investors are able to judge information in the conventional financial system, whereas ordinary people would find it difficult to verify this information. It is at this point where blockchain comes in as a trust-building factor. It brings in transparency and fair trade which blockchains offer and that is what SPINDLE offers.
SPINDLE is the brainchild of founder Shuichi Uda, who is an entrepreneur with about 15 years of experience in the mainstream financial services industry. He had helped a number of wealthy investors grow their assets, but at the same time noticing an inequality in the markets with their access to funds. However, the 2008 collapse of the investment bank Lehman Brothers, which resulted in the biggest bankruptcy in U.S. history serves as a turning point in his career.
The Great Recession was yet another crisis point that erased billions of dollars worth of investments affecting countless people around the world. At this point, Uda decided that the heart of the problem was a lack of trust between investors and the bankers.
It also made him doubtful about the ability of centralized institutions, such as central banks, to solve the fundamental problems in the financial system. Then, around 2011, he discovered Bitcoin.
With values in the financial sector determined by conventional authorities, Huda believed that Bitcoin could be a disruptor in the financial industry. Besides banks and retail companies, cryptocurrencies have also caught the fancy of hedge fund managers. Hundreds of crypto hedge funds have emerged over the past year. This was the basis on which Uda along with Hirai a colleague of his Funai Research Institution founded BLACK STAR CAPITAL LTD.
Both of them believed that economic activities happening in the society should be principally free. Besides adopting this liberal policy, SPINDLE projects itself as a low-cost, transparent tool investor. This tinder of a cryptocurrency can be used to directly match investors with funds suited to their needs.
BLACK STAR CAPITAL LTD. foresees tremendous opportunities for growth in Europe due to its enormous talent pool of engineers and designers, as well as its positive atmosphere surrounding the crypto industry in general. With these factors, the industry is bound to expand and attract even more talent, creating a virtuous circle for growth.
Japan was considered the second-largest market for altcoins after the U.S. but regulations have shrunk the numbers to two third with half the crypto investors leaving the market. By shifting its office to London they gain easy access to engineers and investment vehicles. The founders are of the opinion that a global positioning is important to carry out the global vision for SPINDLE.
With the company looking to launch its new SPINDLE Wallet, it would be the perfect time to check out this unique tool and the investment opportunities it holds out.Published: Dec 25,2018 01:11:38 PM IST