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George Soros Makes U-turn, Set to Trade Cryptocurrency

George Soros Makes U-turn, Set to Trade Cryptocurrency
George Soros Makes U-turn, Set to Trade Cryptocurrency

It appears George Soros has made a U-turn on his stance regarding the crypto market or, at the very least, is prepared to get in on some of the action. This news is based on a report that his family office is set to begin trading in cryptocurrencies. George Soros like a number of prominent figures in the mainstream financial scene once described bitcoin as being a bubble. While people like Warren Buffet appear not to be going near cryptos anytime soon, it seems George Soros has had a change of heart.

Getting Involved in the Crypto Market

According to a recent article on Bloomberg, Adam Fischer, the macro investment manager of the Soros Fund Management firm has been given internal approval to begin trading cryptocurrencies.

The Soros Fund Management firm is reportedly worth $26 billion. Unconfirmed reports also reveal that though Fischer has been given the go-ahead, no trades have been made as of yet and there is no official word on when trading will commence.

Despite his reservations about bitcoin and cryptocurrencies in general, Soros has indirectly been placing wagers on the market. The Soros Fund Management firm has been able to amass a considerable portion of Overstock.com shares.

The bulk of this acquisition occurred over the last quarter of 2017 and made the firm the third-largest shareholder in the company. This purchase is significant because Overstock.com, one of the largest discount e-commerce companies in the world, became the first major online retail merchant to accept cryptocurrency payments over the Summer of 2017.

Soros isn’t the only macro investment firm that is making a play for the crypto market. John Burbank and Passport Capital have also made a foray into the world of digital currency trading.

After shuttering his central fund in 2017, Burbank hopes to raise about $150 million for a couple of funds that will be focused on digital currency trading. The plans took off at the beginning of 2018 and so far, the funds have limited themselves to investors from family offices and a number of other wealthy investors.

Alan Howard is another notable macro investor who is involved in the crypto market. In 2017, the billionaire placed a number of significant bets on the crypto market, separate from his own firm’s trading activities.

Presumably on the healthy profits made from last year’s run Howard has declared that he wishes to invest more in the crypto market and even in blockchain technology solutions.

A Fan of Blockchain but not Crypto

Despite being a crypto critic, Soros is a noted advocate of blockchain technology. Speaking during the World Economic Forum in Davos, Soros unveiled a plan that involved using blockchain technology to solve the mounting refugee crisis.

The need to improve the well-being of migrants and refugees continues to be a significant pursuit of Soros’. However, despite his recognition of the potential applications of blockchain technology, Soros has less than flattering views on bitcoin and other virtual currencies.

The post George Soros Makes U-turn, Set to Trade Cryptocurrency appeared first on BTCMANAGER.

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Virtual Reality Business Networking on The Blockchain

Shares Per Hour, better known as SPH, takes business networking to the next level using the innovation of virtual reality (VR) and blockchain technologies.

[Note: This is a press release.]

You’re probably familiar with LinkedIn, if not, it’s a site where professionals can connect & network with each other through a website and mobile app. These current web and mobile app based services are fast becoming hard to use and outdated. SPH brings new life and excitement to the world of “Business Networking”, incorporating distributed technology that brings people closer together than ever before.

The improvements come from utilizing the three leading technologies in computer science: VR; Blockchain and Artificial Intelligence. Let’s take a more in depth look at how these breakthrough technologies aid in improving coordination, leading to increased productivity and time savings for businesses and everyday life.

Virtual Reality (VR) Virtual Reality Becomes the New User Experience (UX)

Shares Per Hour demonstrates the power of a deeply immersive work space. No longer are you limited to the size of a computer screen or mobile phone. Now your entire field of vision is accessible and functional. Don’t worry about access to your legacy desktops and cell phones, you still have them right there in the virtual office space of your choice.

There’s no need to pull your cell phone out of your pocket, instead, you can instantly see your phone’s screen and resize it however you like in futuristic holographic representations right in virtual reality. The same goes with your desktop screen and even your team members computer screens. Instantly teleport over to your co-worker’s office to collaborate, even at the virtual beach.

SPH expands much further into the VR immersive user experience but we will first explain the foundation that Virtual Reality will sit on, distributed ledger blockchain technology.

Blockchain Allows SPH to Progress Past a Simple Business Networking Project

The blockchain enables smart contracts to be created between parties. After negotiating a deal in the virtual world, users can close the deal with a “virtual hand shake” backed up by a smart contract running on the blockchain. Secure “per hour” payment plans can be set up in place between users.

User studies have shown “per hour” deals are the quickest to close and begin, Workers actually receive payment every hour, in real time, which aids in the workers’ confidence. Employers are protected through the collaborative UX and the reputation system. We will talk more about this in the artificial intelligence section.

Artificial/Virtual Intelligence (AI/VI)

A great thing about the blockchain is the ability to source it for data, collecting and analyzing this public data for future use. Sourcing data is key to creating a useful AI. A top SPH feature using AI is the VR hiring agent or what some people might call a VR head hunter. This is where users go through a more personal and immersive experience describing themselves and their ambitions to a virtual hiring agent who can aid in determining where they best fit into the digital work force.

The same process happens with employers. In the end, AI/VI algorithms are used to match employees and employers together and schedule interviews. AI is not used to do smart contracts between users. Users interact with each other in the virtual world and come to agreements. AI is used to save time and the human interaction is used to make final confirmations on business networking agreements.

For More Information

If you would like to learn more about SPH, visit the official website: https://SharesPerHour.com.

Read the in depth technical blackpaper or view the friendlier overview and demo videos. The ICO token sale is currently under way. It’s free to join the website. We strongly recommend joining the website since registration for the website will close 72 hours prior to the end of the ICO. Only previously registered members will be allowed to participate in the ICO during the last 72 hours.

Images courtesy of Shares Per Hour

The post Virtual Reality Business Networking on The Blockchain appeared first on Bitcoinist.com.

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