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jerryking : currencies   22

How Financial Products Drive Today’s Art World
July 20, 2018 | The New York Times | By Scott Reyburn.

How does one invest in art without going through the complications of buying and owning an actual artwork?

That is the question behind financial products for investors attracted by soaring art prices but intimidated by the complexity and opacity of the market..... entrepreneurs are trying to iron out the archaic inefficiencies of the art world with new types of financial products, particularly the secure ledgers of blockchain...... “More transparency equals more trust, more trust equals more transactions, more transactions equals stronger markets,” Anne Bracegirdle, a specialist in the photographs department at Christie’s, said on Tuesday at the auction house’s first Art & Tech Summit, dedicated to exploring blockchain......blockchain’s decentralized record-keeping could create a “more welcoming art ecosystem” in which collectors and professionals routinely verify the authenticity, provenance and ownership of artworks on an industrywide registry securely situated in the cloud...... blockchain has already proved to be a game-changer in one important area of growth, according to those at the Christie’s event: art in digital forms.

“Digital art is a computer file that can be reproduced and redistributed infinitely. Where’s the resale value?”.....For other art and technology experts, “tokenization” — using the value of an artwork to underpin tradable digital tokens — is the way forward. “Blockchain represents a huge opportunity for the size of the market,” said Niccolò Filippo Veneri Savoia, founder of Look Lateral, a start-up looking to generate cryptocurrency trading in fractions of artworks.

“I see more transactions,” added Mr. Savoia, who pointed out that tokens representing a percentage of an artwork could be sold several times a year. “The crypto world will bring huge liquidity.”......the challenge for tokenization ventures such as Look Lateral is finding works of art of sufficient quality to hold their value after being exposed to fractional trading. The art market puts a premium on “blue chip” works that have not been overtraded, and these tend to be bought by wealthy individuals, not by fintech start-ups.....UTA Brant Fine Art Fund, devised by the seasoned New York collector Peter Brant and the United Talent Agency in Los Angeles.

The fund aims to invest $250 million in “best-in-class” postwar and contemporary works,...Noah Horowitz, in his 2011 primer, “Art of the Deal: Contemporary Art in a Global Financial Market,”.... funds, tokenization and even digital art are all investments that don’t give investors anything to hang on their walls.

“We should never forget that in the center of it all is artists,”
art  artists  art_advisory  art_authentication  art_finance  auctions  authenticity  best_of  blockchain  blue-chips  books  Christie's  collectors  conferences  contemporary_art  digital_artifacts  end_of_ownership  fin-tech  investing  investors  opacity  post-WWII  provenance  record-keeping  scarcity  tokenization  collectibles  replication  alternative_investments  crypto-currencies  digital_currencies  currencies  virtual_currencies  metacurrencies  art_market  fractional_ownership  primers  game_changers 
july 2018 by jerryking
A Sidelined Wall Street Legend Bets on Bitcoin
April 16, 2018 Issue | The New Yorker | By Gary Shteyngart.
A Sidelined Wall Street Legend Bets on Bitcoin
Michael Novogratz is searching for redemption in cryptocurrencies.
Wall_Street  Bitcoin  Goldman_Sachs  digital_currencies  currencies  virtual_currencies  metacurrencies  crypto-currencies 
april 2018 by jerryking
Tech Thinks It Has a Fix for the Problems It Created: Blockchain
March 30, 2018 | The New York Times | By DREW JORDAN and SARAH STEIN KERR

Blockchain allows information to be stored and exchanged by a network of computers without any central authority. In theory, this egalitarian arrangement also makes it harder for data to be altered or hacked.....“Everything is moving toward people saying, ‘I want all the benefits of the internet, but I want to protect my privacy and my security,’” he said. “The only thing I know that can reconcile those things is the blockchain.”.....Blockchains assemble data into so-called blocks that are chained together using complicated math. Since each block is built off the last one and includes information like time stamps, any attempt to go back and alter existing data would be highly complicated. In the original Bitcoin blockchain, the data in the blocks is information about Bitcoin wallets and transactions. The blocks of data in the Bitcoin blockchain — and most of its imitators — are kept by a peer-to-peer computer network.

The novel structure allows people to set up online accounts that can securely hold valuable personal information without having to trust a single entity that can hoard, abuse or lose control of the data, as happened with Facebook and the consumer credit reporting agency Equifax....start-ups are using the blockchain in an attempt to pry control of all that data out of the hands of giants like Facebook, Youtube, etc.. ........Tim Berners-Lee has warned that the development of the blockchain could come with unintended consequences, like more activity from criminals operating outside the oversight of governments...... most blockchain projects are still plagued by concerns about privacy. For example, the widely used Bitcoin blockchain allows certain data — details of the transactions between users — to be seen by anyone, even if other data — the users’ identities — remains obscured.....Blockchain-based accounts also rely on users keeping their own passwords or private keys, which people are famously bad at doing......Michael Casey, a co-author of “The Truth Machine,” a new book on the blockchain.
blockchain  bitcoin  howto  crypto-currencies  books  digital_currencies  currencies  virtual_currencies  metacurrencies  Tim_Berners-Lee  unintended_consequences 
april 2018 by jerryking
Bitcoin and the Digital-Currency Revolution - WSJ
By MICHAEL J. CASEY and PAUL VIGNA
Jan. 23, 2015

Paul Vigna and Michael Casey have written a new book "The Age of Cryptocurrency"
Bitcoin  start_ups  crypto-currencies  digital_currencies  currencies  virtual_currencies  metacurrencies  books 
january 2015 by jerryking
Lunch with the FT: Marc Andreessen
January 16, 2015 | - FT.com | Caroline Daniel.

As a child, Andreessen was fascinated by technology. “I have the complete series of Tom Swift from the 1910s to 1950s in my office. That was probably the single most important thing I read,” he says of the science-fiction and adventure books featuring a teenaged inventor hero (Tom Swift and his Photo Telephone was one 1912 title). “I liked all the stuff he’s inventing.”
Marc_Andreessen  Silicon_Valley  entrepreneurship  virtual_currencies  crypto-currencies  digital_currencies  currencies  metacurrencies  Andreessen_Horowitz  Twitter  the_single_most_important 
january 2015 by jerryking
Program Offers Bitcoin Entrepreneurs Camplike Atmosphere - WSJ
By ROBIN SIDEL
Nov. 30, 2014

Boost, founded in 2012 to incubate a range of startups, is increasingly focused on bitcoin, helping to develop business plans and connect bitcoin-focused entrepreneurs with potential investors. It aims to take the virtual currency beyond the initial enthusiasts who mostly embraced libertarian philosophies and build profitable companies....Mr. Draper, who wants to fund 100 bitcoin companies within three years, said he chooses applicants to join his “tribe” based on their vision and how much they can use the money.

The younger Mr. Draper, who recently raised more than $6 million from investors to fund Boost, benefits if the companies strike bitcoin gold. Boost invests $10,000 to $20,000 for a 6% stake in each company selected for the boot camp.

The participants even bunk together at a dormlike hotel, owned by Tim Draper, across the street from the Boost offices.
Bitcoin  Silicon_Valley  venture_capital  incubators  start_ups  crypto-currencies  virtual_currencies  digital_currencies  currencies  metacurrencies  tribes 
december 2014 by jerryking
The real goods on fake currencies - The Globe and Mail
HARVEY SCHACHTER
Special to The Globe and Mail
Published Tuesday, Sep. 16 2014

Wildcat Currency
By Edward Castronova
(Yale University Press, 265 pages, $32.20)
digital_currencies  currencies  virtual_currencies  metacurrencies  Harvey_Schachter  books  book_reviews 
september 2014 by jerryking
Ex-Currency Trader Braves Tumultuous Market - NYTimes.com
By JENNY ANDERSON SEPTEMBER 17, 2014.

The forex market is being radically reshaped by new regulation and technology.

Mark Taylor, dean of Warwick Business School and a professor of finance, said he expected more regulation. “It’s a tough market to regulate because by definition, it’s a global financial market,” he said. “So where do you regulate it?”

Many banks have quietly lamented changes in foreign exchange market, specifically a move toward more online and thus transparent trading where spreads are thinner and profits smaller, but Mr. Sabet appeared more reconciled to the changes.

“The financial world is being completely regulated,” he said. Everything is becoming electronic and automated, he said, which makes compliance easier. “A human can’t make a mistake because a human is not involved.”
currencies  traders  London  fin-tech  foreign_exchange  turbulence  turmoil  volatility 
september 2014 by jerryking
The Launching Pad - NYTimes.com
July 21, 2012 | NYT | By THOMAS L. FRIEDMAN.

Obama should aspire to make America the launching pad where everyone everywhere should want to come to launch their own moon shot, their own start-up, their own social movement. We can’t stimulate or tax-cut our way to growth. We have to invent our way there. The majority of new jobs every year are created by start-ups. The days when Ford or G.E. came to town with 10,000 jobs are over. Their factories are much more automated today, and their products are made in global supply chains. Instead, we need 2,000 people in every town each starting something that employs five people.

We need everyone starting something! Therefore, we should aspire to be the world’s best launching pad because our work force is so productive; our markets the freest and most trusted; our infrastructure and Internet bandwidth the most advanced; our openness to foreign talent second to none; our funding for basic research the most generous; our rule of law, patent protection and investment-friendly tax code the envy of the world; our education system unrivaled; our currency and interest rates the most stable; our environment the most pristine; our health care system the most efficient; and our energy supplies the most secure, clean and cost-effective.

No, we are not all those things today — but building America into this launching pad for more start-ups is precisely what an Obama second term should be about, so more Americans can thrive in a world we invented. If we can make America the best place to dream something, design something, start something, collaborate with others on something and manufacture something — in an age in which every link in that chain can now be done in so many more places — our workers and innovators will do just fine.
Tom_Friedman  Obama  Campaign_2012  start_ups  entrepreneurship  Cambrian_explosion  product_launches  rule_of_law  interest_rates  institutional_integrity  currencies  moonshots  tax_codes 
july 2012 by jerryking
Moving beyond that flat-world theory - The Globe and Mail
May 2, 2011 | Globe and Mail | Harvey Schachter.

Declining global stability is real and the days of a stable world are gone. Mark Anderson, editor of the Strategic News Service, lays out 10 provocative pieces of advice.
Climate change is real
Global consumer explosion is on
Your company will lose money if you go to China
Don't try to serve both the consumer and enterprise technology markets
Innovation is a creative process
Protect intellectual property
The world is not flat
Be prepared for Chinese competitors
Manage for currency manipulation
flat_world  Harvey_Schachter  climate_change  BRIC  China  Chinese  competition  innovation  intellectual_property  volatility  currencies 
october 2011 by jerryking
Op-Ed Columnist - Taking On China - NYTimes.com
September 30, 2010 | New York Times | By PAUL KRUGMAN.
Serious people, appalled by the specter of Congress legislating for
sanctions against China over its currency policy, might believe that the
U.S. would be better off pursuing quiet diplomacy. Diplomacy on
China’s currency has gone nowhere, and will continue going nowhere
unless backed by the threat of retaliation. The hype about trade war is
unjustified — and, anyway, there are worse things than trade conflict.
In a time of mass unemployment, made worse by China’s predatory currency
policy, the possibility of a few new tariffs should be way down on our
list of worries.
China  currencies  Paul_Krugman  predatory_practices  diplomacy  trade_wars  protectionism 
october 2010 by jerryking
The Color of Money - The Future of the City
May 14 2010 | The Atlantic Monthly | by Jennifer Ward Barber.
currencies  insurance  local  cities 
may 2010 by jerryking
Video - The Coming Currency Revolution
9/8/2009 | The Wall Street Journal | by Andy Jordan. A digital
currency for Microsoft Outlook? Social Networks? Jordan talks to
currency renegades tired of big-government centralized cash, and
desperate to make their own (legal) money systems. Currencies of
attention, trust, moments of authentic connection, reputation and
experience.
digital_currencies  currencies  virtual_currencies  P2P  scarcity  social_networking  video  metacurrencies 
september 2009 by jerryking

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