Digibyte’s 5-year journey and what lies ahead

DigiByte’s 5-year journey and what lies ahead

On January 10th, DigiByte celebrated its 5th anniversary and completed 8.000.000 blocks and has become the largest, fastest and most secure blockchain in current existence. DigiByte has a history of constant improvement, living up to its motto of the forward-thinking coin.

Over its 5-year journey, DigiByte has repeatedly improved, setting itself apart from other cryptocurrencies with multiple blockchain firsts such as SegWit, MulitAlgo Mining and DigiShield.

“I’d argue that the DigiByte we have today is the most advanced blockchain in the world , with the most steadfast secure set up,” said DigiByte founder Jared Tate in a reflection of the coin’s five years of development.

DigiByte has one of the strongest use cases in the cryptocurrency market: DGB can support over 48 million transactions a day: 10 times the current transaction capacity of the top 50 blockchains by market cap.

Over recent months, we have seen significant progression for DigiByte, such as the implementation of ASIC Protection for Next-Generation Blockchain Mining to further decentralise the DGB network, as well as the listing on Bitfinex, one of the largest and most important crypto exchanges.

Strong community

Throughout these five years, DigiByte has attracted more and more followers because of its genuine intention to create a financial system centered around people and social value. The community-driven effort and the tremendous faith that all those involved in DGB have in the project are the key factors that make DGB so unique and compelling.

DigiByte today has one of the most connected and engaging communities in the crypto space. DGB followers have set up foundations and networks to spread the word about the mass adoption potential of DigiByte.

Last November, DigiByte enthusiasts based in the UK and Europe had the chance to meet each other for the first time and talk to Jared himself at the first UK DigiByte Event,held in central London.

Decentralisation at the heart of DigiByte

More than a cryptocurrency, DigiByte offers the most reliable blockchain structure to support transactions at an uninterrupted global level.

In fact, the ultimate objective for DigiByte is to re-build the infrastructure of the internet today. Founder Jared Tate believes that an efficient blockchain can solve 90–95% of the security vulnerabilities in the internet today. The centralised databases which support the current system, such as Facebook, Google and YouTube, act as a catalyst for single points of failure. When all the valuable information is stored in one single place, vulnerabilities to hacks and breaches increase, as well as allowing surveillance and data control from central institutions.

The solution to fix the current system would, therefore, be to build a decentralised architecture for the internet, supported by sophisticated and advanced blockchain structures. A decentralised framework is user-centered, not relying on intermediary platforms to connect users and services.

In order to support this new internet model, DigiByte is built in 3 blockchain layers:

- Applications layer: The top layer of DGB to be used in everyday, real-world applications, such as DApps and Smart Contracts

- Digital Asset Layer/ Public Ledger Layer: The layer in which all DGB transactions are stored in an immutable public ledger, providing maximum security.

  • Core Protocol Layer: The bottom layers, made of decentralised nodes across the planet, where all communication and operation procedures occur.

What’s next?

The DGB community has plenty to look forward to into the near future. The first global DigiByte Summit will take place in Amsterdam on 19th April 2019. The theme of the Summit is ‘The Power of Decentralisation’ and its agenda will expand on the multitude of possibilities and uses enabled by decentralised technologies.

Stefania Barbaglio, Director at Cassiopeia Services — official PR for DigiByte commented: “Cassiopeia is thrilled to be organising and hosting the first ever DigiByte Summit next April. DigiByte represents the true power of decentralised technologies: It offers top security, performs transactions faster than any other crypto and has one of the strongest use cases in the crypto market. Blockchain technology has unlocked a new era where decentralised networks and markets empower individuals and change society and the global economy.”

Registrations are open to DigiByte Global Summit here

In the long-run, DGB investors can be cheerful as crypto analysts say that Digibyte has the potential to reach $1 as the coin develops and its features become more sophisticated over time.

More than that, we are likely to see the increasing deployment of DigiByte platform to projects such as Antum and V-ID, which power blockchain to provide verification and digital identity services.

Keep an eye out for the upcoming exclusive interview on FinancialFox news with Josiah Spackman, DigiByte Foundation Ambassador. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel.

Digibyte’s 5-year journey and what lies ahead

DigiByte’s 5-year journey and what lies ahead

On January 10th, DigiByte celebrated its 5th anniversary and completed 8.000.000 blocks and has become the largest, fastest and most secure blockchain in current existence. DigiByte has a history of constant improvement, living up to its motto of the forward-thinking coin.

Over its 5-year journey, DigiByte has repeatedly improved, setting itself apart from other cryptocurrencies with multiple blockchain firsts such as SegWit, MulitAlgo Mining and DigiShield.

“I’d argue that the DigiByte we have today is the most advanced blockchain in the world , with the most steadfast secure set up,” said DigiByte founder Jared Tate in a reflection of the coin’s five years of development.

DigiByte has one of the strongest use cases in the cryptocurrency market: DGB can support over 48 million transactions a day: 10 times the current transaction capacity of the top 50 blockchains by market cap.

Over recent months, we have seen significant progression for DigiByte, such as the implementation of ASIC Protection for Next-Generation Blockchain Mining to further decentralise the DGB network, as well as the listing on Bitfinex, one of the largest and most important crypto exchanges.

Strong community

Throughout these five years, DigiByte has attracted more and more followers because of its genuine intention to create a financial system centered around people and social value. The community-driven effort and the tremendous faith that all those involved in DGB have in the project are the key factors that make DGB so unique and compelling.

DigiByte today has one of the most connected and engaging communities in the crypto space. DGB followers have set up foundations and networks to spread the word about the mass adoption potential of DigiByte.

Last November, DigiByte enthusiasts based in the UK and Europe had the chance to meet each other for the first time and talk to Jared himself at the first UK DigiByte Event,held in central London.

Decentralisation at the heart of DigiByte

More than a cryptocurrency, DigiByte offers the most reliable blockchain structure to support transactions at an uninterrupted global level.

In fact, the ultimate objective for DigiByte is to re-build the infrastructure of the internet today. Founder Jared Tate believes that an efficient blockchain can solve 90–95% of the security vulnerabilities in the internet today. The centralised databases which support the current system, such as Facebook, Google and YouTube, act as a catalyst for single points of failure. When all the valuable information is stored in one single place, vulnerabilities to hacks and breaches increase, as well as allowing surveillance and data control from central institutions.

The solution to fix the current system would, therefore, be to build a decentralised architecture for the internet, supported by sophisticated and advanced blockchain structures. A decentralised framework is user-centered, not relying on intermediary platforms to connect users and services.

In order to support this new internet model, DigiByte is built in 3 blockchain layers:

- Applications layer: The top layer of DGB to be used in everyday, real-world applications, such as DApps and Smart Contracts

- Digital Asset Layer/ Public Ledger Layer: The layer in which all DGB transactions are stored in an immutable public ledger, providing maximum security.

  • Core Protocol Layer: The bottom layers, made of decentralised nodes across the planet, where all communication and operation procedures occur.

What’s next?

The DGB community has plenty to look forward to into the near future. The first global DigiByte Summit will take place in Amsterdam on 19th April 2019. The theme of the Summit is ‘The Power of Decentralisation’ and its agenda will expand on the multitude of possibilities and uses enabled by decentralised technologies.

Stefania Barbaglio, Director at Cassiopeia Services — official PR for DigiByte commented: “Cassiopeia is thrilled to be organising and hosting the first ever DigiByte Summit next April. DigiByte represents the true power of decentralised technologies: It offers top security, performs transactions faster than any other crypto and has one of the strongest use cases in the crypto market. Blockchain technology has unlocked a new era where decentralised networks and markets empower individuals and change society and the global economy.”

Registrations are open to DigiByte Global Summit here

In the long-run, DGB investors can be cheerful as crypto analysts say that Digibyte has the potential to reach $1 as the coin develops and its features become more sophisticated over time.

More than that, we are likely to see the increasing deployment of DigiByte platform to projects such as Antum and V-ID, which power blockchain to provide verification and digital identity services.

Keep an eye out for the upcoming exclusive interview on FinancialFox news with Josiah Spackman, DigiByte Foundation Ambassador. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel.

NeuroTrader: Harnessing biodata to optimise real-time trading performance

There are many factors one should consider before making decisions in the trading process. Whereas research about company performance, market outlook and stock trends are certainly important, there is also a psychological element that is very often overlooked by investors, which holds them back from gaining better returns from their trading activities.

Trading activity, often assumed to be based on logical and analytical behaviour in order to balance out the inherent risk and possible gains, is often strongly impacted by the trader’s state of mind. Stress, excitement and overstimulation are among the many variables which can lead to risky trading decisions and potential losses. The forces affecting trading decisions are indeed multifactorial but directly impact the outcomes.

Very often, financial losses can be attributed to poor decision making arising from fear, trepidation and anxiety, each of which show specific biological patterns. When investors get too emotionally involved with trading, they are more apt to take greater risks, which quite possibly lead to less favourable returns. Financial gains, on the other hand, tend to result from clarity and optimism, which have their own biological patterns, better known as “biomarkers”.

Emotions such as fear and greed are common in a trader’s daily life. Stocks and markets are, after all, fluid systems and bad news is bound to crop up. however, these emotions are misleading and as result, compromise trading performance. In order to ensure better results, traders should discipline themselves to override their instincts and move past the emotional response. This reflects on the figures; only 5% of traders make a profit at the end of the year.A reliable solution to prevent emotions from hindering optimal trading performance is a tool which provides insights into the trader’s neurosystem, informing smarter decisions. But is there such a solution without resorting to algorithms or robots?

NeuroTrader is a suite of software applications which can enhance traders’ decision-making effectiveness with wearable technology. Based on the concept of trading as a peak performance sport, NeuroTrader is creating the science of optimal decision making.

Real-time monitoring of the traders and their biodata provides an opportunity to mitigate risk, optimise performance and create stable and consistent rates of return as a function of the traders’ biological responses to price and market sentiment.

NeuroTrader is the system to help investors make better choices based on clinical analysis and objectivity. By analysing biodata collected via wearable technology, NeuroTrader can discern different human performance states and therefore inform trading decisions based upon the biological state of the trader, providing an advanced risk-management tool for every trade.

Neurotrader is initiating its pilot program in February next year, in which it will be monitoring 100 traders globally over a 6-month period. The NeuroTrader team, with 10 years of research and testing in the field, expect the platform to mitigate on average 20% of trading errors.

The industry has already taken the route of eliminating humans from trading and using machine learning to improve trading results, but the problem for financial institutions is that they have misunderstood the limitations of these technologies.

“There is a perfect middle ground where machines assist human performance; this is a paradigm-shift where machines serve people to achieve greater heights, not to make them redundant,” says Ken Medanic, the creator and founder of NeuroTrader.

NeuroTrader promises to be one of the first technologies to improve behavioural patterns in trading activity — suitable for both individuals and institutional investors. Hear more about this exciting tool in person. Don’t miss NeuroTrader’s presentation at Cassiopeia Investor Symposium! Register here

NeuroTrader: Harnessing biodata to optimise real-time trading performance

There are many factors one should consider before making decisions in the trading process. Whereas research about company performance, market outlook and stock trends are certainly important, there is also a psychological element that is very often overlooked by investors, which holds them back from gaining better returns from their trading activities.

Trading activity, often assumed to be based on logical and analytical behaviour in order to balance out the inherent risk and possible gains, is often strongly impacted by the trader’s state of mind. Stress, excitement and overstimulation are among the many variables which can lead to risky trading decisions and potential losses. The forces affecting trading decisions are indeed multifactorial but directly impact the outcomes.

Very often, financial losses can be attributed to poor decision making arising from fear, trepidation and anxiety, each of which show specific biological patterns. When investors get too emotionally involved with trading, they are more apt to take greater risks, which quite possibly lead to less favourable returns. Financial gains, on the other hand, tend to result from clarity and optimism, which have their own biological patterns, better known as “biomarkers”.

Emotions such as fear and greed are common in a trader’s daily life. Stocks and markets are, after all, fluid systems and bad news is bound to crop up. however, these emotions are misleading and as result, compromise trading performance. In order to ensure better results, traders should discipline themselves to override their instincts and move past the emotional response. This reflects on the figures; only 5% of traders make a profit at the end of the year.A reliable solution to prevent emotions from hindering optimal trading performance is a tool which provides insights into the trader’s neurosystem, informing smarter decisions. But is there such a solution without resorting to algorithms or robots?

NeuroTrader is a suite of software applications which can enhance traders’ decision-making effectiveness with wearable technology. Based on the concept of trading as a peak performance sport, NeuroTrader is creating the science of optimal decision making.

Real-time monitoring of the traders and their biodata provides an opportunity to mitigate risk, optimise performance and create stable and consistent rates of return as a function of the traders’ biological responses to price and market sentiment.

NeuroTrader is the system to help investors make better choices based on clinical analysis and objectivity. By analysing biodata collected via wearable technology, NeuroTrader can discern different human performance states and therefore inform trading decisions based upon the biological state of the trader, providing an advanced risk-management tool for every trade.

Neurotrader is initiating its pilot program in February next year, in which it will be monitoring 100 traders globally over a 6-month period. The NeuroTrader team, with 10 years of research and testing in the field, expect the platform to mitigate on average 20% of trading errors.

The industry has already taken the route of eliminating humans from trading and using machine learning to improve trading results, but the problem for financial institutions is that they have misunderstood the limitations of these technologies.

“There is a perfect middle ground where machines assist human performance; this is a paradigm-shift where machines serve people to achieve greater heights, not to make them redundant,” says Ken Medanic, the creator and founder of NeuroTrader.

NeuroTrader promises to be one of the first technologies to improve behavioural patterns in trading activity — suitable for both individuals and institutional investors. Hear more about this exciting tool in person. Don’t miss NeuroTrader’s presentation at Cassiopeia Investor Symposium! Register here

How tech can help unleash our full trading potential

NeuroTrader harnesses biodata to monitor and optimise real-time trading performance.

Trading activity, generally assumed to be based on cool logic and analysis to balance out itsinherent risk, is often significantly impacted by the individual trader’s state of mind. Stress, excitement and overstimulation are among the many variables which can lead to risky trading decisions and potential losses. The forces affecting trading decisions are multifactorial. Very often, financial losses can be attributed to poor decision making brought about by fear, trepidation and anxiety, each of which demonstrates specific biological patterns. Financial gains, on the other hand, tend to result from clarity and optimism, which also have their own biological patterns, better known as “biomarkers”. When traders get too emotionally involved, they are more apt to take greater risks, very possibly leading to less favourable returns.

Is there a reliable solution to safeguard human trading performance which does not involve resorting to algorithms or robots?

NeuroTrader is a suite of software applications which can enhance traders’ decision-making effectiveness with wearable technology. Based on the concept of trading as a peak performance sport, NeuroTrader is creating a science around optimal decision making for traders globally. Monitoring the traders and their biodata in real-time, the system provides an opportunity to mitigate risk, optimise performance and create stable and consistent rates of return based on the traders’ biological responses to price and market sentiment.

NeuroTrader is the system to help investors and traders make better choices based on clinical analysis and objectivity. By analysing biodata collected via wearable technology, NeuroTrader can discern a variety of human performance states and therefore inform trading decisions based upon the trader‘s biological state, providing an advanced risk-management tool for every trade.

Cassiopeia: Tell us a bit about how the idea was conceived: why and how did you start NeuroTrader?

NeuroTrader: The inception of the idea dates back to university in 2002. Specialising in finance, I was taking “Investment analysis and portfolio management”. Working on an assignment to develop a portfolio of shares and track it’s performance, I deviated from the guidelines and developed a software application that correlated a portfolio of 19 futures contracts which produced an annualised return of 88% and a win-to-loss ratio of 50%. The interesting thing about the software was that, in addition to collecting price and buy/sell data, I was recording my subjective experience of the market, in effect, I was tracking my decision-making process through qualitative analysis.

Though the financial performance results were very good, I needed to understand why I got 50% of the trades wrong. In 2007, I created another software program that started to experiment with the use of qualitative analysis as a primary decision-making metric in the investing and trading process. The problem I found was that qualitative analysis is subjective and changes with our moods and experiences, as perception is a constantly shifting state of environmental appraisal, therefore the system could not be standardised across multiple users/traders.

In 2009, I recognized that the qualitative psychological reasons for making an investment or trade could be quantified as a biological response using biofeedback technology. In 2014, I moved to California to learn about neurofeedback and biofeedback. In 2016, we moved to Montreal to gain a better understanding of wearable technology, and it was then that we released our first alpha version of NeuroTrader at the Canadian Annual Derivatives Conference organised by the TMX group and the Montreal Derivatives Exchange.

So, in short, the primary reason for developing NeuroTrader is to limit losses and optimise gains by incorporating the psychological and biological aspects of our decision-making process. In the retail trader market, only 5% of traders make a profit at the end of the year! As the estimated number of retail traders in the world is 50 million, that means that 47.5 million people need a solution to their pain point: losing money.

Cassiopeia: Can you explain how your wearable technology and devices work and how data is transferred and analysed?

NeuroTrader: The device wraps around your finger; it measures your heart rate, peripheral temperature and skin conductivity. Via Bluetooth connectivity, it sends the biodata to the PC/laptop where the desktop application then sends the biodata to the server to be integrated with price. It is at this point of server-side integration that our behavioural models begin the process of assessment, in effect seeking opportune entry signals.

Cassiopeia: The AI that you have implemented in this product is an unsupervised learning algorithm, since the data can vary from person to person. How would you describe its efficiency?

NeuroTrader: It is still a little early to state empirical performance figures and give mathematical guarantees, hence the initiation our “pilot programme” on the 11th February where we will be monitoring 100 traders globally over a 6-month period. This is going to be a very interesting time as we will be publishing our results on what is the largest behavioural finance experiment to date in the world. I believe we will provide a lot of new knowledge about financial market decision-making and demystify many old — perhaps invalid — assumptions. Based on my 10 years of research and testing in the field, I am confident that we will mitigate on average 20% of trading errors.

Cassiopeia: Data privacy and protection is a highly sensitive topic these days, especially with breaches by top companies such as Facebook. With the system that you have created, how do you ensure that your customers’ biometric data stays private and confidential?

NeuroTrader: In addition to the standard data protection tools, we use the same methods as those for medical data where the biodata is not matched to the users’ name but is logged as a number.

Cassiopeia: As you have claimed, there is no other product like yours currently on the market, so you are using an exclusive technology. How do you plan on keeping this idea unique and patented, in case it gets copied?

NeuroTrader: We filed our first patent application in 2016 and are entering into the national phase in February. We are aware that people will follow suit and we can’t do much to stop that. Most importantly, I recently heard a leading innovator say that if people are copying your product, it is not something to be afraid of but rather it is a sign that you are doing something worth copying, something of value. In addition, I come from the mindset that innovation is infinite and as long as we foster constant innovation, we will always be developing exceptional products in the field of optimal decision-making and as a result, maintain a leadership position. Having accepted this fact, we are primarily focused on building a culture that stays ahead of the curve with constant innovation as our response to competition.

Cassiopeia: A lot of wearable technology devices these days offer occasional updates with bug fixes and patches. What updates and other functionality can we expect from NeuroTrader in the near future?

NeuroTrader: The first is the establishment of our online hedge fund. This is another world first as we track and manage our traders remotely allocating capital and managing the fund based upon their biological state. We will use our NeuroTrader hedge fund as our showcase product to demonstrate to our potential institutional clients what we can do for them. The second is eye-tracking technology, which will be incorporated in the second half of next year.

Cassiopeia: It’s a known fact that AI has evolved in leaps and bounds. The question regarding this is, why not simply create a unique, supervised algorithm that makes trading decisions on its own without human intervention? Do you think eliminating the human element could help minimise the potential for error in the system? Why/why not?

NeuroTrader: The industry has already taken the route of eliminating humans from trading. The major retrenchments of human traders over the last few years has been covered in the media: there was an article in The Financial Times last Thursday about more traders being fired, and we all know of the abandonment of trading floors, the most iconic being UBS’s 36,000 sq. ft. trading floor in Stamford Connecticut. The enormous investment into mathematicians to programme trading systems is public knowledge, as is the investment into machine learning to decipher price movement and predict future price points. This is where the industry currently stands. The problem for financial institutions is that they have misunderstood the limitations of machine learning and AI. Within 2 years the major banks will start the “en masse” investment into peak performance technologies such as ours as we make our results public and as we lead the way forward, building a new culture and understanding that human performance is unmatched if it is harnessed and guided correctly. There is a perfect middle-ground where machines assist human performance; this is a paradigm-shift where machines serve people to achieve greater heights, not to make them redundant.

Cassiopeia: Apart from the general conditions of a human trader, the individual concerned may have some relevant medical history. How do you plan to take such factors into account while reading & transmitting the biometrics in real time?

NeuroTrader: Our focus at NeuroTrader is on “proximal development”: we focus on incremental progress in achieving competencies. Regardless of where you are physically or biologically, you can always take a step forward in the desired direction toward peak performance, where peak performance is a personal and subjective experience. We can’t all run as fast as Usain Bolt regardless of how much we train but we all can learn to run faster than we already do. So, in general, we want to see improvements in each individual’s biodata as a response to market price and volatility. Just like going to the gym, everyone at NeuroTrader works at their own pace and is tracked individually toward the goal of peak performance.

Cassiopeia: Trading and stock markets are a huge field in themselves. Up to now, traders have been used to working methodically, but your technology allows the algorithm to make decisions on the user’s behalf by monitoring his/her vital signs. Are there any rules and regulations to keep in mind here? Also, in another hypothetical scenario, if everyone starts using this technology and every decision ends up being optimal, there would, in theory, be no more stock market crashes. Is that feasible in the real world?

NeuroTrader: Firstly, in terms of rules and regulations, our technology is a performance-enhancing technology. Those individuals and institutions that interact with the financial markets still have to observe and comply with their national laws and internal compliance. As for the future of the financial markets, I can state that the markets are inherently efficient by design. We experience price volatility because people interact with the markets emotionally, thereby distorting the intrinsic price of an asset. The illusion is that by creating automated/algorithmic high-frequency trading systems, we circumvent the emotional bias of humans, but this negates the fact that algorithmic trading is designed with the same human fears as those employed when some trades discretionally. Further, algorithms can only mimic what happened in the past, therefore they perpetuate the same volatility of fear and greed.

In the next 5 years, traders will be predominantly trading in a peak performing state with the use of wearable technology simply because of the financial gains available. As more people trade in an optimal state, the markets will become less influenced by fear and greed and become more efficient. The more rational — and most importantly, self-regulated — traders and investors become, the more efficient the market will become, and we will increasingly begin to invest based on seeking value. Value becomes the primary objective and motivator of our decisions; not greed/fear. A less volatile market implies no more crashes as the fear-based traders and investors are the minority and can no longer dictate price movements.

Cassiopeia: Since the system helps people make optimal decisions based on trading in real time, do you think it would be desirable to extend this technology to other areas of human decision making?

NeuroTrader: We have already been asked to leverage our technology for the purpose of “high-stake negotiations” and for the medical industry.

Cassiopeia: Neural networks are an important concept in the field of AI and data mining. Could you please shed some light on the different software applications that you are using and how they correspond to neuroscience?

NeuroTrader: We use and experiment with a vast array of mathematical tools; their correlation to neuroscience is linked to the predominance of mapping results with rewards-based incentives. All our software applications are proprietary. We do not use anything we did not build ourselves. So, when we speak of neural networks, we are talking about cognitive conditioning and the way neuroscience tries to explain the learning process. Utilising this model, which attempts to replicate neurological pathways and clusters, we too are continually evolving our algorithms to develop more effective behavioural pathways that when all is said and done, increase the probability of successful trades and mitigate those trades that have a higher propensity of being loss making.

As technology and AI are further integrated into hedge funds, we see that the human element is a fundamental part of trading. NeuroTrader promises to be one of the first technologies to improve behavioural patterns in trading activity — suitable for both individuals and institutional investors. Hear more about this exciting tool from Ken Medanic, the creator and founder of NeuroTrader.

Don’t miss Neurotrader’s presentation at our Investor Symposium! Register here

Individual credit history

Beyond data credit scoring: Individual Financial Reputation

The Rise of ‘bad credit’ mortgages: complicated history leads to low score

Buying a house seems an impossibility for millions of people in the UK, studies have shown. Increasing property prices and untrustworthy credit score systems are positioning Britons further away from the goal of owning a property. The solution? A system that allows customers to explain their side of their credit histories, laying out the facts and circumstances behind the numbers.

In Britain, many worry about getting a mortgage, especially the millennial generation, which has witnessed house prices skyrocketing while wages have only stagnated. Given these conditions, hopeful buyers are finding themselves lacking in finance options.

Indeed, according to Moneyfacts, the number of bad credit mortgages in the UK has risen by 118 in the six months ending in September. Bad credit mortgages are schemes designed to help those with poor credit scores to buy property, currently representing 17% of the mortgage market. Those with very poor credit history will need a deposit of 35% to enter the programme.

These schemes, however, come with higher rates, putting the lender at increased risk. In September, Moneyfacts reported that the bad credit mortgage rate is currently at 4.52%, whereas the average rate of a two-year fixed rate mortgage is at 2.54%.

It is also worth bearing in mind that in the gig economy, income is rarely a fixed entity. Many workers are freelancers, or working on ‘zero-hour’ contracts. Research from Online Mortgage Advisor revealed that a third of respondents believe that having a zero-hour contract could be a barrier to securing a mortgage.

The current mood among hopeful house buyers is indeed pessimistic: nearly 13 million Britons don’t believe they would be able to get a mortgage.

The poll from Comparethemarket found that 45% of mortgage seekers who had their application denied said this had a negative impact on their credit score.

“You are right to be worried that your credit card debt could see you turned down for a mortgage,” said Virginia Walls, mortgage expert at the Guardian.

“You are also right that when you make a full mortgage application, you will face questions about your credit cards and may even have to show recent statements. You will also be asked detailed questions about other regular expenditure to help the lender decide whether you will be able to afford a mortgage on top of all your other financial commitments.”

Credit history is more than a number, it is about individual financial reputation and credibility.

Credit history is built on a variety of aspects, such as payment history, outstanding balances, length of credit history, and types of credit accounts. A lower credit score means that one is less able to secure a mortgage or a loan, as well as having to pay higher interest rates when credit is granted.

Individual Financial profiles are put together from black-and-white data, stark facts, with no subjective assessment. If an individual is in debt, with considerable outgoings and no family support, many forms of credit — including mortgages — may prove inaccessible. The same individual might also be facing divorce or serious illness, with all their associated costs. Savings may have been poured into education.

However, none of this background information is currently taken into account as mitigating circumstances by credit scorers. Although undeniably relevant to an individual’s financial situation, such circumstances do not ‘count’ in the final assessmen.

The root of the problem is in the system that builds an individual’s credit history. Personal finance and savings are fluid information, after all, people manage their wealth according to their priorities at any given time, so applying a figure to certify an individual’s credibility seems a shallow solution. It does not reflect wealth, which may have been accumulated in other forms than cash, or unforeseen circumstances over which one has no control.

Such a system often proves to be unfair for the average person and can do more harm than good when it comes to looking for financial support. We need a tool that allows this ‘human’ information to be implemented, a mechanism that will give individuals the opportunity to provide information beyond the figures on their credit histories. It is therefore right that consumers should be able to provide a personal take on the way they have managed their own finances, in order to be assessed more fairly.

Is it possible to have a more inclusive individual credit scoring with more accurate data to include individual’s opinion and truth?

Perceiving the need for a more holistic approach to credit ratings today, UK technology company Right of Reply is introducing its ‘Reply on Credit Check’ (RoCC) platform, which works alongside credit agencies to implement a layer of individual statement on credit history, and response to negative content.

“Right of Reply has developed a unique platform, ROCC, that offers specific services and tools to credit agencies and individuals aiming for a fairer credit scoring data and information. It allows a registered individual to amend their own credit report and credit rating with narrative information to correct errors or explain events in that credit report, and to contextualise or justify any debt position expressed in the credit report.

The credit agency will benefit from this corrected information as it will reduce their legal responsibilities, and because they will offer their client a more precise report that takes into account the point of view of the debtor.

We believe that individuals should have the opportunity to ‘tell their truth’ in response to any negative/inaccurate online content and any inaccurate Credit Report or Financial History that could be damaging for their reputation and personal lives.” commented Stefania Barbaglio, Right of Reply PR and UK Development.

Individual credit history

Beyond data credit scoring: Individual Financial Reputation

The Rise of ‘bad credit’ mortgages: complicated history leads to low score

Buying a house seems an impossibility for millions of people in the UK, studies have shown. Increasing property prices and untrustworthy credit score systems are positioning Britons further away from the goal of owning a property. The solution? A system that allows customers to explain their side of their credit histories, laying out the facts and circumstances behind the numbers.

In Britain, many worry about getting a mortgage, especially the millennial generation, which has witnessed house prices skyrocketing while wages have only stagnated. Given these conditions, hopeful buyers are finding themselves lacking in finance options.

Indeed, according to Moneyfacts, the number of bad credit mortgages in the UK has risen by 118 in the six months ending in September. Bad credit mortgages are schemes designed to help those with poor credit scores to buy property, currently representing 17% of the mortgage market. Those with very poor credit history will need a deposit of 35% to enter the programme.

These schemes, however, come with higher rates, putting the lender at increased risk. In September, Moneyfacts reported that the bad credit mortgage rate is currently at 4.52%, whereas the average rate of a two-year fixed rate mortgage is at 2.54%.

It is also worth bearing in mind that in the gig economy, income is rarely a fixed entity. Many workers are freelancers, or working on ‘zero-hour’ contracts. Research from Online Mortgage Advisor revealed that a third of respondents believe that having a zero-hour contract could be a barrier to securing a mortgage.

The current mood among hopeful house buyers is indeed pessimistic: nearly 13 million Britons don’t believe they would be able to get a mortgage.

The poll from Comparethemarket found that 45% of mortgage seekers who had their application denied said this had a negative impact on their credit score.

“You are right to be worried that your credit card debt could see you turned down for a mortgage,” said Virginia Walls, mortgage expert at the Guardian.

“You are also right that when you make a full mortgage application, you will face questions about your credit cards and may even have to show recent statements. You will also be asked detailed questions about other regular expenditure to help the lender decide whether you will be able to afford a mortgage on top of all your other financial commitments.”

Credit history is more than a number, it is about individual financial reputation and credibility.

Credit history is built on a variety of aspects, such as payment history, outstanding balances, length of credit history, and types of credit accounts. A lower credit score means that one is less able to secure a mortgage or a loan, as well as having to pay higher interest rates when credit is granted.

Individual Financial profiles are put together from black-and-white data, stark facts, with no subjective assessment. If an individual is in debt, with considerable outgoings and no family support, many forms of credit — including mortgages — may prove inaccessible. The same individual might also be facing divorce or serious illness, with all their associated costs. Savings may have been poured into education.

However, none of this background information is currently taken into account as mitigating circumstances by credit scorers. Although undeniably relevant to an individual’s financial situation, such circumstances do not ‘count’ in the final assessmen.

The root of the problem is in the system that builds an individual’s credit history. Personal finance and savings are fluid information, after all, people manage their wealth according to their priorities at any given time, so applying a figure to certify an individual’s credibility seems a shallow solution. It does not reflect wealth, which may have been accumulated in other forms than cash, or unforeseen circumstances over which one has no control.

Such a system often proves to be unfair for the average person and can do more harm than good when it comes to looking for financial support. We need a tool that allows this ‘human’ information to be implemented, a mechanism that will give individuals the opportunity to provide information beyond the figures on their credit histories. It is therefore right that consumers should be able to provide a personal take on the way they have managed their own finances, in order to be assessed more fairly.

Is it possible to have a more inclusive individual credit scoring with more accurate data to include individual’s opinion and truth?

Perceiving the need for a more holistic approach to credit ratings today, UK technology company Right of Reply is introducing its ‘Reply on Credit Check’ (RoCC) platform, which works alongside credit agencies to implement a layer of individual statement on credit history, and response to negative content.

“Right of Reply has developed a unique platform, ROCC, that offers specific services and tools to credit agencies and individuals aiming for a fairer credit scoring data and information. It allows a registered individual to amend their own credit report and credit rating with narrative information to correct errors or explain events in that credit report, and to contextualise or justify any debt position expressed in the credit report.

The credit agency will benefit from this corrected information as it will reduce their legal responsibilities, and because they will offer their client a more precise report that takes into account the point of view of the debtor.

We believe that individuals should have the opportunity to ‘tell their truth’ in response to any negative/inaccurate online content and any inaccurate Credit Report or Financial History that could be damaging for their reputation and personal lives.” commented Stefania Barbaglio, Right of Reply PR and UK Development.

Finance Magnates London Summit: The must-go show for crypto investors

Where is crypto headed? The 2018 edition of the London Summit brings together more than 70 industry leaders and specialisedprofessionals to share their vision and experience with over 2,500 attendees, in one of London’s most exciting events for crypto believers.

In 2017, the summit welcomed over 2,000 delegates and 1,100 exhibiting companies and 2018 promises to repeat last year’s success.

Amidst the current frenzy around blockchain, many investors look at the crypto market and wonder if they are missing out on something. Recognising the growing convergence between crypto traders and blockchain technology enthusiasts, the London Summit will set aside an area dedicated to all things crypto, the hottest trend in the trading market. Make sure you pop into the ‘Crypto Trading Floor’, where you can engage with fellow investors, and join both actionable and visionary sessions by the most notable experts in crypto.

London Summit 2018 — What’s on the Agenda?

Many other crypto experts from around the world are making their way to London as the capital gets geared up to become a global blockchain hub.

Delegates can expect keynote speeches by Coinbase UK’s CEO, Zeeshan Feroz, and eToro’s CEO, Yoni Assia, who will be discussing opportunities in crypto in 2019.

Another unmissable panel discussion will be analyzing different crypto trading models, featuring industry stalwarts such as Coinfloor CEO, Obi Nwosu, CX Seed’s Sam Tegel, and more.

The sessions aim to educate investors on trading in the crypto space, advising on key ‘dos and don’ts’. The crypto sector has been attracting attention from investors and venture capitalists who don’t want to miss the opportunity to join this ride while the market is still maturing.

Resembling the dotcom boom, the blockchain revolution is prompting a surge of multiple companies within the tech sector, so there is no shortage of projects and ICOs trying to carve their place in the crypto sector. It is natural for investors to feel ‘spoilt for choice’ in such a vibrant new sector. At the London Summit, you will hear both about new and exciting projects at an ICO competition, held by DX.Exchange, and about trends and developments in the regulation of this booming sector.

To better understand the disruption blockchain is creating, make your way to the Cryptocurrency Trading: Breaking Down Retail and Institutional models panel. The speakers will give you insights into the power that decentralised technologies have to change current business models, and what we can expect from the blockchain revolution. Come and meet us!

We, at Cassiopeia Services, recognise the importance of networking events and conference as an invaluable opportunity for people to connect and network. We are proud to be media partner for London Summit 2018 Edition!

Blockchain and Crypto PR guru Stefania Barbaglio, founder and director at Cassiopeia Services, will be joining a panel on effective PR in crypto and communications strategies in the blockchain space.

In her show FinancialFox, she recently interviewed the well-known founder of Digibyte and Head of Operations at Cardano on the disruptive power of blockchain technology. She is host regular show with Steemit blockchain ambassador Stephen Kendall, to discuss the most effective strategies for equity investors to start moving into the crypto space.

”The evolution of cryptocurrency can create a major revolution in the very way we transact and exchange value, and we have been covering this space extensively since 2012, so the creation of a crypto event was a natural one for us,” says Michael Greenberg, Founder and CEO at Finance Magnates Group, which offers industry and market news. “We look forward to hearing the views and opinions of some of the leaders of the European crypto community at the event.”

The event is also the perfect opportunity to meet like-minded people, get to know potential partners and gain unique insights into the financial world as it gains this new shape.

Register today!

The Fintech Boom: Technology brings obsolete financial systems up to date

The merging of financial services and technology birthed the fintech industry, one of the fastest growing markets over the recent years, which is not only improving financial services but also spurring economic growth and development in many parts of the world.

We haven’t even reached the end of 2018, and this is already a record year for global Fintech investment. Just in the first half of 2018, the global fintech sector accumulated $41.7billion — up from $39.4bn in 2017.

The introduction of technology into the once obsolete financial system meant that service providers are now taking heed of customers’ needs. This has created systems which are faster, cheaper and more convenient, and understandably, has made customers turn their heads away from the old institutions which had once dominated financial services.

Banks and well-established financial services providers are now turning to tech developers looking for ways to innovate and improve their products and services. In North America alone, it is reported that banks spent nearly $20bilion on new technologies in 2017.

Fintech is indeed one arm within the Fourth Industrial Revolution, whose core aim is to deploy innovative technologies to empower individuals over their own finances and information.

The expanding pace of the fintech market shows that customers adopt fintech systems quickly. Research from PwC revealed that customers are increasingly more open to non-conventional ways of managing finance, with 30% of consumers planning to increase their usage of non-traditional financial services providers. The growing demand has also led venture capitalists to invest substantially in fintech projects, with investment in fintech companies up 41% over the last four years according to PwC’s data.

Fintech and Development: The case of Africa

The disruptive power of fintech applications is even stronger when applied to address the needs of the populations in developing economies. A very evident example is seen in African countries, where vast adoption technology has spurred the movement of leapfrogging, accelerating economic and GDP growth.

Africa has been at the forefront of fintech over the past few years, with an impressive number of startups using technology to address the most fundamental problems across the continent.

Mobile banking is said to be of one of the most successful and impressive cases of the evolution of Fintech; this is especially true in the case of Africa. Because of the incredibly high rates of financial exclusion in Africa, mobile money came to fill in this gap, providing affordable alternatives for managing and transferring money to millions of Africans who had never before had access to banking services.

The contribution of the fintech industry to sub-Saharan Africa’s economic output will increase by at least US$40-billion to $150-billion by 2022, according to Financial Sector Deepening Africa, a development finance organisation.

The fintech sector is currently employing about 3 million people in Africa, of which mobile companies account for a great part. “If you look at the value chain, most of that money is coming out of mobile phone companies,” says Evans Osano, director at FSD Africa Financial Markets.

“So from the other support services the contribution is not much, but is expected to increase as fintech develops to address the financial needs of people or making services more accessible.”

Switzerland: The European hub for Fintech firms

In the developed world, we see that Switzerland is shaping up to become one of the fintech hubs.

“In Switzerland you’ll find long-term vision. Switzerland has the most decentralised political system in the world and its citizens are in full control of the system. This guarantees extreme stability on the one hand, and on the other hand competition among the cantons and its municipalities. This results in very friendly and flexible social and business rules, low taxation and high service delivery,” says Swiss entrepreneur and fintech expert Marc P. Bernegger.

“While Switzerland has not been a well-known global hub for start-ups, I think we can now see some very positive changes such as political and public discussions around incentives for startups, the launch of incubators and accelerators, and not least a change in perception of what it means to be an entrepreneur. “

In fact, Switzerland has shown itself to be open-minded and friendly to new technologies. The country is home of one of the hottest spots for crypto and blockchain matters in Europe, the Crypto Valley, in Zug.

The presence of the Crypto Valley combined with the country’s tax-free policy for crypto investors has given Switzerland the reputation as the number one most blockchain-friendly country in Europe.

Fintech+ is a new Fintech initiative in Switzerland, where big fintech names come together to realise their mission of transforming Switzerland into a global hub for tech innovation.

The 2018 edition will focus on the disruptive nature of AI in fintech and sustainable finance. You can see the agenda and speakers here. For more information, get in touch with us at info@cassiopeia-ltd.com

Our Director Stefania Barbaglio will be discussing with John Hucker, President of Swiss Finance + Technology Association (SFTA)the importance and role of Fintech in next week Financial Fox TV show

Stay tuned and make sure you subscribe to our Financial Fox channel