Cryptosecurities: private banking for the 99%
Sounds like an oxymoron right? Think again!
Last fall I had a chat with a good friend of mine who is partner at a venture capital firm. He recently made an exit which placed him on the radar of a prominent private bank. What they pitched him was an attractive Parisian Real Estate private placement. Why did they contact him now, and not before, he wondered?
The reason is basic economics: private bankers are whale hunters. They crisscross the world in business class and join exclusive golf clubs to chase elusive High Net Worth Individuals (HNWI). Of course, the cost for them to establish and maintain a relationship is enormous — think of all these business class travels — and can only make sense for large investment tickets. That’s why they reached out to my friend after he made an exit, not before.
Today private banking is only for the happy few. Will it stay that way? We think not. Soon the cost to establish a banking relationship will be negligible. In fact, you might dispense with banks altogether as the must-have intermediaries to manage wealth, thanks to blockchain-based cryptosecurities.
With a cryptosecurity, all it will take to participate to a private placement will be a compatible blockchain wallet and a verified identity. Which will soon cost nothing, like it doesn’t cost anything to open a new email account. What does that mean?
Simple: tomorrow everyone will have access to investment opportunities which are today reserved for HNWI. Why? Because the Real Estate fund manager who is behind the Parisian Real Estate private placement offered to my friend won’t have to hire expensive private bankers anymore. He’ll be able to directly issue its own cryptosecurity and reach out millions of investors worldwide, and save himself and his investors hefty bankers fees.
That is the vision driving us at tokenestate.io. We believe that, thanks to the blockchain, good investment opportunities can now be economically offered to the world at large — to the 99%.
Tomorrow, a bus driver in Jakarta will be able to invest 10 USD every month in, say, Parisian Real Estate, and build himself a savings account over time. That’s what we’re working towards.
Let’s make real estate investing more efficient and accessible. Share our vision?Join the community on tokenestate.io telegram channel or sign up for our newsletter.
