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Blockchain & Cryptocurrency
June 2019 www.intellinews.com I Page 23
System (RTS) index is returning 20% YTD as of the time of writing, making Russia the second best performing market in the world. Oil prices have also soared by 37% over the first four months of the year. But the ITI Funds Crypto index fund, is up by more than 90% in the same period.
Young markets are the ones that return the big gains, but they also carry the most uncertainty. However, as the “crypto winter” is now coming to an end Yakolev says the growth in institutional investors stepping into the market are increasingly driving crypto-funds.
Institutional investors bring some solidness to
crypto. Their longer horizon means they will not sell as quickly after taking a hit. The ticket size will go up. And there will be more people in the game doing compliance and risk management, which will make it easier to identify the scams from the win- ners. And a balanced crypto index fund appeals
to this more conservative class of investor.
“You don't get the alpha that you would get from and actively managed fund. You only get the beta. But if you want to invest into crypto now it's the beta that is the reason you should be, not chasing the short-term alpha gains. Investors who
are doing it now are preparing for a huge surge in the whole market,” says Yakolev.
Azerbaijan reaches blockchain technology platform deal with IBM for customs procedures
Azerbaijan’s government on June 12 announced that it has reached an agreement with IBM to develop a blockchain technology platform for the country’s customs procedures. The official memorandum to commit to the development of the project was to be signed on June 13, Coingeek reported.
At a press conference held during the IT/TI IT/TI Conference and Exhibition of the World Customs Organization (WCO), Safar Mehdiyev, the chairman of Azerbaijan’s State Customs Committee, reportedly said the partnership would help to greatly improve the efficiency and security of the customs apparatus.
“It will be possible to obtain the necessary information from the database online, without outside interference,” Mehdiyev was cited as saying. “It will be useful for both entrepreneurs and customs authorities, as it will improve the quality of customs services provided.”
Azerbaijan is also working with other countries in the region on bilateral agreements to use the
technology in other areas. “In this direction, we are implementing a project with Ukraine with the support of Georgia and Moldova,” Mehdiyev added.
IBM has already been involved with the central bank of Azerbaijan, according to Coingeek. That partnership developed in October 2018 when it was said that blockchain technology would be used in the banking industry in a five-year project. Now, IBM will be using this technology to assist with the tracking of cargo.
IBM is said to be a leader in the development of blockchain technology, finding applications for their platforms across a wide variety of industries including customer service, the tracking of food, protection of banks and financial institutions and the tracking of mineral production and distribution.
IBM is also reportedly looking to assist Azerbaijan’s justice ministry, with blockchain technology to be used to create smart contracts to be used in the legal system and housing sectors.