In the simplest terms, the term blockchain refers to a decentralized database. If you think of a traditional database like a spreadsheet, running on a single computer, blockchain distributes that so the spreadsheet runs on millions and millions of computers. Blockchains are secured using state of the art cryptography and consensus mechanisms – this means that if all of the computers on the network agree on transaction details, it makes it nearly impossible for hackers or bad actors to alter that record for their own gain.
The real disruption here is that trust is established through collaboration and code, rather than a central authority. Digital assets have radically changed the status quo: you longer need a bank to make a money transfer around the world. You no longer need an escrow account to buy a home, or a real estate agent to facilitate the transaction. You no longer need a company or central authority to facilitate a transaction of any kind. The implications of this new paradigm are far reaching throughout the world of asset management.
The legacy finance industry is primarily focused on servicing technically savvy investment professionals. Highly specialized fintech applications accelerated the redistribution of wealth around the globe. The disparity in financial privilege between the elite and the average citizen is the most dramatic it has ever been in the United States.
Decentralization sparked a flame not seen before in the financial sector, giving rise to an incredible $800 billion market cap in December 2017. Bitcoin’s blockchain was the spark that ignited the digital assets flame. Today there are more than 3000 cryptocurrencies, utility tokens, and tokenized securities. With the market cap today topping $267 billion, it’s no wonder then there is rising interest around the world in anticipation of the next parabolic bull run.
For the first time in history, the entire world is simultaneously adjusting to a new class of assets with profound implications. Digital assets have fundamentally shifted the financial paradigm—where fiat cash governed exchange of value, precious metals governed storage and retention of value, and equities governed speculative investment markets, digital assets have rolled all of these functions into one single asset class. This is what the “crypto” and “blockchain” hype is all about and it’s no surprise that everyday citizens of the world want to participate in the impending digital revolution.
We had a chance to chat with Blockchange Digital Assets, a Silicon Valley based company that is hyperfocused on providing retail investors with a powerful, yet user friendly experience. Blockchange Digital Assets was founded in mid-2017 by Daniel Eyre and Daniel Rothrock nearly a decade after their time as college roommates. The company started out as more of a pet project but quickly evolved into a serious endeavor. “It became apparent pretty quickly that there was a need for what we had built, so we set out to scale it as a cloud product” says CEO, Daniel Eyre.
According to Eyre, there’s a demand for technologies that enable everyday retail investors to participate in the market in a simple yet powerful way. “It’s no wonder that most people don’t have the time or energy to learn how to use new technical tools. People want simplicity but they also expect things to really work for them.” BDA’s platform was created to bring all investing activities into one place. The product aggregates data from all exchange accounts, news from around the web, and even enables users to make investment decisions in a few clicks.
Blockchange CTO, Daniel Rothrock details why the experience is different than other solutions, “We spent a lot of time translating decision making into actionable activities.” Typically, when investors make decisions regarding their holding distribution, that entails significant work on the part of the individual. With multi-asset allocations, the volume of trades can take upwards of an hour, even when the individuals knows what they’re doing. BDA’s proprietary optimization algorithms automate the creation of all buy orders, transfers and sell orders across all exchanges to execute the best path for users.
For more info about Blockchange Digital Assets, visit https://blockchange.ai.