Authenticate Crypto information using Blockchain TechnologyNovember 28, 2018
The total numbers of cryptocurrencies are more than 2,000. And, the overall market capitalization of crypto is at $200 billion.
The concept behind all the cryptocurrencies is the same. Whether about the major crypto like Bitcoin, Ethereum, Ripple, or other Altcoins, all are backed by Blockchain Technology. However, each of these digital currency equivalents works on a customized philosophy of their own.
In the year 2017, SPINDLE (SPD) was launched as a virtual currency and as well as an asset management platform. The transparency factor was ensured by making use of the blockchain technology.
Nearly $100 million worth funds were raised in the Initial Capital Offering. Thus, making it the biggest ICO in Japan.
Since May 19, 2018, Spindle started trading in 5 major global exchanges. The developers are beginning their operations in London. And, they are focusing on more significant activities in London.
Black Star Capital Ltd is the company that backs Spindle. They are now based in London. They have started with a small yet innovative team of staff who empower the functioning of Spindle in the crypto-industry.
Masamitsu Hirai, the CEO of Spindle stated, “Under conventional financial system professional investors used to judge if the information they were getting are correct or not, ordinary people cannot judge if the information is true or not. Blockchain technology can be used to establish fair and trustworthy information to investors.” He implied that this is precisely what Spindle represents.
Shuichi Uda established the ideals of the Spindle Project Shuichi Uda. Shuichi Uda is an entrepreneur with more than 15 years’ experience in the financial services industry in the mainstream. This as well includes the hedge fund player based in London.
Wealthy investors were able to grow their assets further by making use of the access to hedge funds and pre-ICO startups. The collapse of Lehman Brothers, according to Uda, contributed to inequality in the global markets. This occurred because traditional financial concepts broke down and most of the people lost their assets. Ordinary citizens were helpless because even the governments were not able to do anything about it.
Uda further added that he had seen the best and the worse in the financial world. He also stated that he was wondering if the traditional fiscal regimes were making people happy or not.
Uda decided that the core element of the problem was a breakdown in the trust factor between investors. Uda was not in acceptance of the capability of the then institutions to solve the fundamental problems in the financial systems. In the year 2011, he came across Bitcoin. He suddenly felt it is going to be a disruptor, such as assets based on subprime mortgages. Human fallibility played a significant role in the global financial meltdown, but Uda was deeply skeptical of the ability of centralized institutions, like the central banks to solve fundamental issues in the financial system. Then, around 2011, he discovered Bitcoin. Uda established BLACK STAR CAPITAL LTD. along with the partnership of Hirai, his colleague from the Funai Research Institute.
Spindle backed by Black Star Capital is a low-cost tool meant for everyday cryptocurrency investors.