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Big hit! TrustVerse on Yahoo! Finance and FX Empire – 18 October 2018

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3 Innovative Solutions For the Seamless Inheritance of Cryptocurrency Assets

 

 

Earlier this year, Futurism carried a story about Michael Moody, a 26-year old who died in a tragic plane crash in Chico, California in 2013. Before his death, Michael was a Bitcoin miner, in the words of Michael’s father, “my son was actually one of the earliest people to mine it. He used his computer at home to mine bitcoins when you actually could do it that way, and he had a few, we think.” Two years after the crash, the father started exploring ways to retrieve Michael’s cryptocurrency assets. He has succeeded in piecing together information about his son’s stash of Bitcoin, but he been unable to access his crypto wallets because of the decentralized nature of cryptocurrencies.

Nolan Bauerle, director of research at cryptocurrency analysis at CoinDesk in an interview with Bloomberg observed that “if someone who owns Bitcoin, or another cryptocurrency passes away without sharing their account information, those coins are simply abandoned.”

Interestingly, being able to retrieve personal information and access a cryptocurrency wallet doesn’t automatically mean that the funds of the deceased are available to their beneficiaries. A number of legal considerations such as the Computer Fraud and Abuse Act (“CFAA”) and The Stored Communications Act prohibit the unauthorized access to people online accounts (including crypto wallets) even when they are dead.

Now, accessing deceased cryptocurrency wallets and transferring funds without legal authorization apart from being a financial crime also has tax implications. Hence, dying without clear-cut instructions on the management of your digital assets means such assets could be forfeited to the state or lost forever. This piece examines three projects introducing innovative solutions for managing digital inheritances.

 

TrustVerse

TrustVerse is fundamentally a blockchain-powered AI platform that provides an optimized asset management service while also minimizing cryptocurrency volatility for low-risk medium-return performance ensured by its deep neural network and secure and reliable blockchain based system. Beyond intelligent asset management, TrustVerse also offers smart contract programming and design solution on its dApp to help cryptocurrency investors manage taxes, legacy planning, inheritance and transfer of digital assets.

With TrustVerse investors can manage their crypto assets, and make sure their family and loved ones will get access to your assets after they die thanks to Smart Contracts and oracle mechanism. TrustVerse helps investors protect their assets through private smart contracts stored on a public chain. The smart contracts are also programmed with life scheduling service that reaches out to your beneficiaries to when you’ve not checked in for a while.


TrustVerse also leverages a Proof of Death (PoD) consensus solution to prevent post-mortem identity theft and fraud. TrustVerse also has solutions to determine if your digital assets are required to be reported and submitted to probate. Once all statutory legal requirements are met, you can trust that the smart contract will execute and the transfer and distribution of digital assets to predefined designators will be done. The best part is that this platform manages other digital properties such as online storage accounts, websites, emails, photo, and video sharing accounts, domain names, and intellectual property among others.

 

Safe Haven

Safe Haven is a platform that uses blockchain technology to help people safely and transparently share the keys to their assets with beneficiaries after their demise. Many people are worried about sharing their account information or keeping it in storage because of fears that the accounts could be compromised and that their funds could be stolen. Safe Haven is using a TFC Share Distribution Key, Trust Alliance, and Escrow protocol to encrypt the information about digital assets while sharing the keys as a puzzle.

Safe Haven allows users to protect their digital assets and ensure seamless inheritance without locking you out. The protocol distributes seeds/private keys/passphrases that provide access to an asset to between the initiator and their beneficiaries. However, the shares of the keys are distributed to give the initiator/parent control over their assets – the shares are also managed as a legally-binding document by a notary. In the event of the death of the initiation, the beneficiaries holding the other shares can present the necessary legal documents to the Trust Alliance System.

 

DigiPulse

DigiPulse is another platform that wants to make it easier to manage digital inheritances with a solution for storing and encrypting information on a blockchain. The encrypted information can only be accessed by prespecified recipients. DigiPulse is being developed around the notion that there’s technically no need to attorney service for the transfer of cryptocurrency assets in event of the demise of the investor.

DigiPulse adds an interesting feature into the mix in that it allows users to choose between keeping their identity anonymous and allowing their identities to be visible. DigiPulse, however, doesn’t seem to require beneficiaries to take any action before the inheritable assets can be transferred to them. DigiPulse uses its API integrations to measure activity signals. Once a pre-defined period of inactivity elapses, the smart contract will assume that you’ve passed on and the smart contract will execute to transfer the assets to your beneficiaries.

This article was originally posted on FX Empire.

 

Reference: 3 Innovative Solutions For the Seamless Inheritance of Cryptocurrency Assets

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[Interview] Reasons for regulation prerequisite with CEO Michael K. Jeoung

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Interview with CMN on reasons for regulation prerequisite, Michael K. Jeoung, CEO of TrustVerse

Published on Nov 14, 2018

Michael Kiook Jeoung, CEO of TrustVerse told about the stance of South Korea on ICOs and the benefits of the regulation along with John McAfee, Roger Ver, Miko Matsumura, Ian Balina, Brock, W. Scott, Charlie Lie at 2018 Futurama Blockchain Innovators Summit in Spain.

 

Reference: CMN Interview: TrustVerse CEO, Michael K. Jeoung at 2018 Futurama Blockchain Innovators Summit

All rights reserved. Crypto Market News

 

Abstract: TrustVerse

TrustVerse is a blockchain based intelligence platform for personal wealth management and a digital asset decentralization protocol. It manages and decentralizes all digital identities and proprietary information (such as iTunes, social media and subscription information) online as well as encrypted assets. When the transfer of managed assets and information is required, TrustVerse DAPP with Smart Contract Design helps to deliver it correctly and securely to the designated party.

TrustVerse’s asset management intelligence platform is powered by a state-of-the-art artificial intelligence (AI) deep neural technology and a multi-data financial portfolio optimization engine. The TrustVerse project began with the fundamental questions,

“how do you safely protect your digital estate and other assets?”, “how can we reduce information asymmetry and maximize the utility of DAPP with niche and highly demanded service related to wealth management?” We aim to answer that question by providing practical services that enable current and future crypto asset owners to safely handle their assets and also to provide proper management service (Tax, Legal services and etc.)

 

Co-Founder & CEO: Michael K. Jeoung

  • Global Business Development
  • MBA from the University of Chicago, Booth School of Business
  • 15 years of high-tech business development and go-to-market strategy experiences in global MNCs, international organizations, public sector & startups
  • Professional career at Cisco Systems as Head of Global Partners Organization-Service Provider Business, coverage for APJC and EMEAR(InterCloud and XaaS), Consultant at OECD Executive Directorate ITN(Business Intelligence and ICT Strategy), Chief Advisor at Ministry of Land & Transport (Smart City-Urban Integrated Operations Center Standardization)
  • Responsible for US$500M in cloud, IoT and network business
  • Lived and worked over 25 years in Singapore, Paris, Jakarta, Vietnam, S.Korea, and U.S.
  • 4 publications on ubiquitous computing and sensor network

 

 

 

 

Official Site : https://trustverse.io/
Telegram : https://t.me/trustverse_officialchannel
KakaoTalk : https://open.kakao.com/o/gFG3TPR
Facebook : https://www.facebook.com/trustverseofficial/
Twitter : https://twitter.com/trustverse/
Instagram : https://www.instagram.com/trustverse_official/
LinkedIn : https://www.linkedin.com/company/trustverse/
Medium : https://medium.com/@trustverse
Steemit : https://steemit.com/@trustverse
Korea Blog : http://trustverseblog.com

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TrustVerse – “Navigating the New Crypto Investment Class” – 12 November 2018

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Most notably, the emergence and expansion of digital currencies like bitcoin and hundreds of others like it has presented investors with a compelling asset class that is both novel and opportunistic.

Interestingly, enthusiasm for crypto assets has created a need for additional financial services as novice and experienced investors alike pursue this relatively new market, creating demand for supportive services including long-term financial planning and near-term investment strategies related to cryptocurrencies. Therefore, companies like TrustVerse, Protos, and Digital Capital Management are building platforms that are striving to meet this demand.

 

The Expansive Crypto Economy

 

While bitcoin has been around for nearly a decade and several other prominent tokens have existed for several years, the market boom is relatively recent.

Throughout 2017, the return on investment on crypto assets was cartoonish, the equivalent of stats on a video game. Day after day brought new market highs, and these gains were not slight. As many have noted, by the end of the year, the price of bitcoin would come close to $20,000, an incredible jump for an asset worth less than $1,000 at the start of the year. Not to be left out, other digital currencies gained value as well, expanding by thousands of percent as 2017 progressed.

At the same time, burgeoning crypto investment space created an opportunity for new, ancillary financial products related to digital currencies. For example, more than 200 hedge funds crypto-focused hedge funds have emerged in the past several years, bringing a pillar of the traditional financial system into the crypto community.

At the same time, financial institutions are showing an increasing willingness to create products for interested crypto investors. Several institutions including Cboe, CME, Goldman Sachs, and Morgan Stanley offering bitcoin futures contracts, and the highly anticipated bitcoin ETF is expected sometime in the not too distance future.

 

The Role of Crypto Asset Management

 

Taken together, there is now a robust crypto investment scene, but it’s one that remains mostly unchartered and is still susceptible to dramatic value or sentiment swings.

As a result, there is a growing market for crypto asset management services. People want the kind of financial guidance and investment protection available to investors in traditional markets. They want to invest in crypto, but they want protection from extreme volatility and unnecessary risk, and several companies are striving to fill the void.

TrustVerse, a blockchain-based wealth management platform, is helping investors identify risk and diversify their investments appropriately. Using the power of AI and deep learning algorithms, TrustVerse not only helps investors with estate planning related to crypto assets, but it helps them establish a low-risk crypto portfolio that produces profits even during times of extreme market volatility.

Indeed, the market turbulence that frequently defines crypto markets is exhausting for investors. As Jim Smigiel, CIO of absolute return strategies at SEI Investments Co., told CNBC, “Looking at something with such high volatility all the time is not conducive to an investor’s mental health.” With TrustVerse, investors can harness the computational power of AI to create a more stable and profitable investment strategy while avoiding the headache of the always-in-flux crypto markets.

Meanwhile, other companies like Protos and Digital Capital Management are offering more traditional advisory services including merchant banking and professional fund management. In an industry dominated by a DIY ethos, these companies bring institutional knowledge and attention to crypto investment.

By professionalizing the movement and providing seasoned investors with quality tools for growing and diversifying their wealth, these companies represent the latest installments in the cryptocurrency movement.

Cryptocurrencies are an inclusive asset class. They are available to just about anyone, and their novelty means that the playing field is significantly more level than it is in traditional markets. However, even in this modern environment, investors don’t have to navigate this new investment class alone. They can turn to qualified professional platforms with innovative and capable technology that can support their investment initiatives on an individual basis.

 

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TrustVerse – “AI Is Helping People Manage Their Crypto Assets” – 11 November 2018

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Few things illicit excitement like the mention of AI. It’s everywhere right now. Microsoft is unleashing an aggressive advertising campaign touting its “amplification of human ingenuity,” and IBM’s Watson continually achieves new human-like feats.

AI is even transcending the technology space. Robin Sloan, a California-based author, is using the technology to help him write a novel, which shows, as The New York Times notes, “it is quickly clear that programming is on the verge of redefining creativity.”

That’s the fundamental premise of artificial intelligence. It can replicate human thought and address their tangible needs, not supplanting human ingenuity but enhancing it. In short, AI is a more human-like approach to computing that can be more applicable to people’s actual lives.

Therefore, it’s no surprise that AI capabilities are being applied to financial planning and asset management, an area where the demand for personalized advice and bonified investment intelligence is far outstripping the number of people who can practically provide those services.

This is especially true in the burgeoning crypto market where millions of investors have poured into the new investment space, eager to invest their money but lacking the knowledge to adequately allocate and differentiate their finances. With few experts to assist in these decisions, companies like TrustVerse, VectorSpace, and Elpis, bring AI-powered crypto investment services to market.

 

Managing Risk & Mitigating Losses

 

Although cryptocurrencies are most known because of Bitcoin, thousands of other currencies comprise this ecosystem. Taken together, they represent a compressive investment ecosystem that requires knowledge and intentionality to effectively navigate.

What’s more, despite their recent stability, cryptocurrencies remain an unusually volatile investment, prone to wild, unexplained price swings that aren’t typically experienced by other assets. This just underscores the importance of diversification.

TrustVerse, a comprehensive investment management platform that handles crypto as well as other financial assets, deploys AI to help its customers achieve a holistic investment strategy. By combining AI and the blockchain, two technologies on a tandem ascent, TrustVerse optimizes customer portfolios, making specific recommendations that are relevant for the user’s lifespan and beyond.

In comments on the emerging class of AI asset management platforms, Michael Tsang, formal managing director at Alibaba Group Americas and Microsoft HQ in Seattle, described TrustVerse as “the most advanced and profitable investment information construction service with one click.”

Elpis, Switzerland-based artificial intelligence platform, is likewise harnessing the power of AI to equip investors with the knowledge and technology necessary to pursue crypto and traditional assets in a single portfolio.

Meanwhile, other companies including VectorSpace are bucketing crypto products that contain different assets to mitigate exposure to market volatility. Using AI to determine the most appropriate investments based on the user’s comfort with volatility, long-term investment goals, and other factors, VectorSpace is using the best technology to create complete investment strategies in a unique financial market.

It’s a diverse market that is similarly applying artificial intelligence to create compelling platforms that meet customers’ unique needs. Their timing couldn’t be better. There is a profound shortage in the number of people able to provide in-person advice, and AI is effectively bridging the gap.

 

Leveraging Resources

 

Just as there is tremendous demand for blockchain professionals, there are fourteen open jobs for every qualified candidate, there is a shortage of financial advisers who can provide reliable insight into crypto investments.

While traditional financial institutions offer low-cost or even free financial planning services for their customers, they do not cover cryptocurrencies. In contrast, there are a growing number of institutions that provide crypto-only investment advice that can help people navigate the crypto ecosystem, but it doesn’t account for a holistic approach to wealth management.

AI can bridge that divide, building and managing comprehensive portfolios that account for the nuance and peculiarities of an individual’s investment ambitions.

Companies like TrustVerse are counting on customers integrating crypto assets into their lifetime portfolios, and they are accounting for the inevitable transition of these assets from generation to generation, something that would never be possible without the help of AI.

Indeed, there is hardly an industry that AI doesn’t impact in a significant way, and the crypto investment landscape is ripe for enhancement. As companies provide increasingly capable platforms for asset management and allocation, users will benefit from a strategic and holistic approach to financial success. Much like Robin Sloan’s AI-written novel, this is a story that’s still in progress, and it’s moving forward every day.

 

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