Many are unaware that the coming decade, thanks to the new paradigm introduced by cryptocurrencies and, let us remember, first of all, the “standard Bitcoin”, could significantly change the physiognomy of what we currently consider as a payment instrument, reserve asset, unit of account, etc.
In the wake of the imminent launch of China’s central bank digital currency, other countries, to avoid China’s global hegemonic positioning in the digital currency (“CBDC”) sector, could launch, when ready, their CBDCs. It is also likely that entire Business Units will use blockchain, especially in the form of multichain or parachain, while other companies or state-owned entities will use CBDCs: we will therefore see the transformation of the global financial system into a new digital system, both on the public and private fronts, Daniele Marinelli says.
Obviously, the reader could legitimately question the actual significance of such claims. In this regard, a brief digression on monetary systems is therefore appropriate to understand how they are not monolithic but subject to cyclical changes. Indeed, over the course of modern history, the monetary system has required drastic changes or updates that have occurred approximately every forty years. Cyclically, there are times when the existing system creates shortcomings, is inefficient, or countries simply do not respect the agreements made with their citizens or internationally. Normally this happens during a leap in human development, and usually coincides with major technological changes and the growth of the world population (with the consequent need for greater amounts of money). Often a new monetary cycle follows a sharp intensification of trade relations amongst countries or during a crisis such as a war. In the hope that ours and future generations will not see the monetary system change following the repetition of the horrors of a world war event, it seems that this generation may witness a new change due to a technological leap.
Are we on the verge of a global change in the monetary system?
It could be argued that the first crunches were already felt with the global financial crisis of 2008 and with the G20 summit during which the fate of the current monetary system was questioned by some. The launch of the Bitcoin protocol in 2009 is also part of this framework, laying the foundations for an entirely digital financial system, with FinTech solutions becoming common.
According to various economic parameters and according to many analysts, a global financial crisis is near, but it will probably not be similar to the previous ones: the collapse of the current monetary system goes hand in hand with disruptive technological leaps forward (the Bitcoin protocol, artificial intelligence, the adoption of quantum computers: to name just the main ones).
Any crisis, while painful, however, has shown that most of the changes are actually for the benefit of humanity and provide new opportunities for further development. However, a less traumatic handover could be achieved through cooperation between the traditional financial system and the new operators in the crypto and FinTech space.
Wind of change with Daniele Marinelli
The German financial market supervisory body, BaFin, recently granted the world’s largest cryptocurrency exchange, Coinbase – direct listed on NASDAQ with a capitalization of around $ 105 billion – permission to provide security services custody and proprietary trading. Coinbase has therefore obtained the very first license to carry out these activities in Germany.
In addition, last April the Bundestag passed a law (“Fondsstandortgesetz” (FSG)) intended to strengthen Germany as a venue for setting up investment funds and this could generate huge investments in cryptocurrencies. The FSG will allow a special category of investment funds (for institutional investors only) to invest up to 20% of their assets in cryptocurrencies; this could bring trillions of crypto investments in the form of assets under management by these funds. Although the investment funds authorized to invest directly in crypto are currently only “special funds”, even investment funds not reserved for professional investors can gain exposure to the crypto market through indirect investments, for example through exchange trade products (in the form of replicating bonds).
No less important is the M&A operation carried out by Deutsche Börse Group, a company that controls the Frankfurt Stock Exchange, which has acquired a majority stake in Crypto Finance AG, a financial group under the supervision of FINMA (the authority that supervises the Swiss financial market) which offers trading, deposit and investment services in digital assets to institutional and professional clients.
Finally, the question remains when we will have the first European ETF. A solution to the limits set by the regulation of UCITS harmonized funds in Europe “could be represented by an ETF that invests only a percentage component of its portfolio in cryptocurrencies and, to convince the European authorities, at least in this historical phase, it would be even better if such percentage share was represented by an ETP on crypto with physical replication. We would therefore have a harmonized fund which, in addition to giving the investor exposure to traditional financial products, would also allow exposure to the crypto market. This would be a great milestone for the asset management industry and for an effective mass adoption of cryptocurrencies “.
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These recent market operations confirm that the rapprochement between traditional finance and the crypto ecosystem is inexorable. Countries such as Germany and Switzerland are laying the foundations from a regulatory and infrastructural point of view to reduce the distance between the two worlds and make the transition less tumultuous. But also in other European countries there are virtuous episodes to monitor.
DTSocialize Holding Ltd: a FinTech based on three different pillars
DTSocialize Holding (the “Company” or “DTSH”), based in the United Kingdom and founded by the Italian entrepreneur Daniele Marinelli, is a FinTech that has recently entered the process of listing at the London Stock Exchange (LSE) through direct listing.
Although the authorization phase has not yet been started, for DTSocialize Holding the listing seems imminent, just as its mission and vision are equally clear. Relying on an innovative FinTech approach, the Company wants to create a bridge between the world of classic finance and the digital world, enabling the users of its services to access a whole set of solutions through the three main pillars of the company:
- FinTech Group that will strive to continuously expand its product lines that seamlessly integrate fiat and crypto operations for easy and smart client experience; and expand its geographic presence, focusing on countries where legal framework has been or being created.
- Social Communications Group that will expand its subscribed user base by offering communication and networking tools based on new generation Blockchain platforms with integrated financial capability provided by the FinTech Group; and generate best-in-class BigData-driven analytics for commercialization. The Group will seek ways to accelerate the expansion of its user basis by possible partnering with mobile operations in selected geographies that have been pre-identified already.
- Digital Money and Payments Group that will expand its current payment solution systems into new technologies to offer new ways for transacting in DTSH ecosystem.
The peculiarity of DTSH is offering Financial Services and money management solutions (IBANs, payment solutions, Credit and debit cards, e-wallets, exchange) thanks to its integrated platform that brings together traditional financial services – such as IBAN and Credit Cards –with Crypto Assets and Crypto Currency. DTSH created exchanges, trust custody, and wallets that allow its customers managing a diversified asset base and transacting both in Fiat and Crypto in a secure environment. The product lines offered by DTSH FinTech are expanding into new categories, such as asset management – one of the best Daniele Marinelli’s topic.
The Social network and messaging Apps on blockchain platforms offer a new level of privacy and entirely new customer experience. In a short time, DTSH communication and social tools built 640,000 registered user base, which have immediately became a priority target segment for FinTech services by DTSH. For this, DTSH is integrating financial services and payment solutions into the functionality of communication platforms.
Ultimately, DTSH will offer its users an augmented reality experience in its own metaverse, called Umetaworld, for transacting, socializing, and doing commerce or financial operations.
We asked Daniele Marinelli couple of questions, first: how Umetaworld integrates into the whole Holding project?
“I started to work on Umetaworld (a social media developed using metaverse) more than two years ago to create a digital model of the real world which incorporates interactive AR experiences. Umetaworld was launched with a conference held within Umetaworld itself on Dec. 16th and 360k people were connected to the new social media platform to listen to our presentation.
The Umetaworld is a mirror of the world you know and the world you do not know: it’s based on a true representation of the world as is and embraces the concept of collective sharing.
Experiences are shared. Knowledge is shared. Services are rendered. Even key decisions can be shared among all stakeholders.
How Can Umetaworld change the way we work or interact?
“The idea is to offer a different experience of online shopping, getting the opportunity to “visit” shops and stores across the world, through a unique, interactive 3D buying experience unattainable on classic online stores. Furthermore, Umetaworld takes marketing to a whole new level with unobtrusive yet immersive ads that reach a global audience.
Good applications can be in the real estate industry, where agents can scan apartments onto the metaverse allowing potential buyers to first visit virtually. Another sector the metaverse can revolutionize is education: you can replicate your school’s environment providing students with a fun, compelling learning experience and a chance to attend prestigious university for people sitting in entirely different part of the world without relocating.
But, of course, we are looking very much forward to granting the users of our Holding services the opportunity to transact within Umetaworld, bringing FinTech services experience to a whole different level.”
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The osmosis between traditional and crypto finance and digital world is therefore increasingly on DTSH agenda. It is not only the most ingenious foreign entrepreneurs who understand the importance of taking new paths: we finally find a very Italian case such as DTSocialize Holding.
It is hoped that more and more companies will get that the paradigm shift is already underway, but, as often happens in our society, the first to grasp the change will be able to acquire dominant positions on the markets. The blockchain and its digital native assets need financial services and companies like DTSocialize Holding ready to outline the financial markets of the future. More about: Daniele Marinelli, DTSocialize, crypto, big data.