Shelf.Network presents decentralized auctions

Currently focused on automotive trade Shelf.Network plans to expand to Eastern European used-car market with their new auction platform
05 March 2018   573

Auctions are a great help, when you want to find a buyer for your product, but there always is a hassle involved in managing auctions on multiple marketplaces. Shelf.Network aims to simplify this process. The team is building a new distributed network to synchronize an auction instance on several interconnected platforms.

The platform was already tested in 2015 and 2016 on Ukrainian market with governmental partnership, and now the team plans to expand to three markets in Eastern Europe. One of the target markets is a secondary car market. They have already partnered up with four marketplaces and six leasing companies.

Now the company want to scale its services and add Western European suppliers. This will allow it to enter huge-revenue automotive auctions market. The preparations for opening for general public and tokenization are also underway.

Essentially the project is about creating a more realistic and widespread case of blockchain utilization, so that general public will see the benefits of blockchain and its usefulness up close and personal, not just as another gimmick or a digital collectible. And, of course, auctions can garner great profits, especially with the tools that the company promises to implement in future, such as one-click auction marketplace deployment and adding commodity and collectibles trading, beyond the current automotive trade scenario.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   137

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.