The Network Effect: Alchemy Coin and TASA Asia Join Hands
New York, New York
August 10, 2018
Alchemy Coin took a significant step to broaden its global network effect by partnering with TASA Asia, a leader in education, in an exclusive long-term partnership aimed at growing both brands by fostering formal ties.
Financial terms of the deal were not immediately available.
So-called “network effects” bring a multiplier element to projects that badly want to increase their exposure to the market place. As TASA Asia is already considered one of the premier cross-cultural educational exchange programs in all of Asia, Alchemy Coin is expected to reap enormous short- and long-term benefits by bringing this deal to fruition.
“TASA Asia opens many doors for us that might remain shut if not for our alliance with them,” says Alchemy Coin CEO, Justin Jung. “TASA Asia has carved out a niche based on a team with impeccable credentials, high integrity, and a focus on execution, and by partnering with Alchemy Coin we are able to leverage those principles, and bring them into our own network. Needless to say, we couldn’t possibly be more enthused about this partnership with TASA Asia.”
According to Deloitte, the consultancy: “The Network Effect, defined as the tendency of a high-tech product or service to increase in value as the number of users or complementary players increases, has sweeping implications for high-tech companies.
“Our research shows that global technology is driving the powerful consequences of the Network Effect,” says Garry Foster, the Deloitte partner who managed the research. “ While the source of the Network Effect may vary, the results all demonstrate that savvy business leaders operating in markets where the phenomenon is present must have investment mindsets, performance metrics and operational tactics that differ from traditional companies.”
“Because the Network Effect will allow only one or two players to dominate an entire market segment and capture most of the profits, it is imperative that company leaders carefully examine the extent of this phenomenon and take actions to achieve the coveted stronghold,” according to Igal Brightman, Deloitte’s global leader.
“We choose our partners wisely,” says Korean-born Mr. Jung, who now resides in New York City. “Having capable partners who elevate your game is a crucial factor in taking your business to the next level.”
TASA Asia will dovetail perfectly with the core mission of Alchemy Coin, says Mr. Jung. He notes that the students of today are the home owners of tomorrow. “It’s disgraceful how young people around the world are routinely denied credit and charged exorbitant interest-rates for student loans and other basic necessities. “How can you advance your career and your life when you are weighed down by excessive debt? The answer is you can’t. Alchemy Coin aims to bring affordable lending options to college students around the world — and to work with them as they launch their careers and their households. We’re in this for the long haul and we want to serve the needs of our clients globally for decades to come.”
Forbes magazine published this May a devastating critique of the student loan crisis in the U.S. that some believe is so significant it is restraining the national economic output. “The first myth…is the common belief that most students pay back their loans within ten years. Until now, higher education analysts were forced to try to analyze student loan repayment in the absence of the long-term data they needed. Now that the Department of Education has made this data available, it appears that, in fact, the average student loan borrower takes longer than ten years to repay his/her loans. Research finds that “even among those who borrowed only for their undergraduate education . . . only half of students had paid off all their federal student loans 20 years after beginning college in 1995–96.” Instead, average borrowers in “this group still owed approximately $10,000 in principle and interest, about half of what was originally borrowed, 20 years after beginning college”.
A Brookings report earlier this year indicated that in the United States default rates among African-Americans were at unsustainable levels: “Debt and default among black college students is at crisis levels, and even a bachelor’s degree is no guarantee of security: black BA graduates default at five times the rate of white BA graduates (21 versus 4 percent), and are more likely to default than white dropouts.
“Look, student borrowing is a crisis in the United States — the wealthiest nation on the planet,” explains Mr. Jung. “In developing countries, there is no “student debt crisis”, per se, because students can’t even get loans to begin with. And that means millions of them will never get an education, either.”
“We see that as a global problem that needs to be addressed,” says Mr. Jung. “And our partners at TASA Asia firmly hold the same belief. Which is why we stand together to solve this intractable dilemma once and for all.”
TASA is one of the largest B2B international recruitment companies in Asia. It’s a flagship venture of TASMAC Global Education, working with a few prominent international universities and colleges in the US, UK, Canada, Italy, Dubai and Singapore. TASA is engaged in providing Education & Career Counseling and Global Education solutions to students interested in studying outside their country and helping them to become global citizens.
For more information on TASA check out: http://www.tasaasia.com/
Alchemy is a blockchain-based peer-to-peer (P2P) lending marketplace. The platform allows for instant and direct lending between supply-side lenders and demand-side borrowers from all over the world in a trusted manner using the advantages of smart contracts and blockchain technology. We offer a unique architecture to analyze and structure a credit risk-adjusted rate with the utilization of Artificial Intelligence and Machine Learning technologies. We aim to revolutionize the peer-to-peer lending market and serve as the leading infrastructure for credit providers and credit seekers. Alchemy will be the first peer-to-peer (P2P) lending platform that utilizes blockchain technology to reduce high credit risk and high default rate, while at the same time offering a risk-adjusted downside protection for capital commitment lenders. As Alchemy P2P credit products grow and the network expands, we aim to become the leading source of personal loan providers for individuals around the world.
For more information on Alchemy or to participate in the ICO check out: https://www.alchemycoin.io/
