Press Release FOR IMMEDIATE RELEASE https://www.able-project.io/ 129-14, Samsung-dong, Gangnam-gu, Seoul, South Korea
How Can the Risks in Blockchain Technology Be Reduced? March, 2018 - Recently, Nate Tobik and Ken Yellen wrote and published a book titled “The Bank Investor’s Handbook” which helps to analyze bank stocks. In the book, Tobik said “There’s always a need for financial intermediaries who can connect people who have the money (depositors) with those who’re in need of the money (borrowers). Of course, there are many ways to connect depositors and borrowers technologically. However, that isn’t the problem. The major problem is managing the risks involved in the connections. This was clearly stated in the book by Tobik when he said “There are different technological ways to connect depositors and lenders, but it's not connecting them that's the most difficult challenge. It's managing the risk of the relationship that's difficult.” He also states in his book that, ‘a common misunderstanding is that banks are in the business of lending’. While banks do lend money, their fundamental business function is to manage risks involved in the relationship between depositors and borrowers. Any bank that can manage the risks well will be able to grow its
value throughout the business and create even a greater value for the shareholders. If this is the case with banks, what happens in today’s world where business media have accepted the blockchain technologies? What happens when business media can hardly mention banks but so vast with blockchain and initial crypto offerings? How do we manage the risks in the bitcoin technology? How can these risks be reduced or totally eliminated? The global asset markets get roiled by any concerns rapidly. While some assets respond in predictable ways, some don't. Stocks might lose value, gold might enjoy gains, but Bitcoin has failed to appreciate over the last few days. Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering cryptocions investment should be prepared to lose their entire investment. This situation might be the result of cryptocurrencies not having the same liquidity as gold. Traditional assets like gold have a lot more liquidity whereas crypto- currencies still carries significant risk because of their high volatility. These signs signify the need for a much stronger regulation. Similar concerns are being addressed by authorities in many parts of the world and are expressed on various platforms. Japan is actively creating laws and institutions related to cryptography and plans to show at the 2020 Tokyo Olympics, a national event. The CEO of the ABLE PROJECT in Estonia and Korea also expressed similar concerns. Kim Myung-so, the President and SEO of ABLE PROJECT stated that they ’re in preparations for the volatility of the cryptographic currency and the management of stable assets. "Regulations are cryptography.”- He said.
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When these regulations are implemented, it will be possible for crypto-trading platforms to make positive contributions to the safe development of the economyHe added.
Kim Myung-so, after designing the block-chain bank “ABLE Project” declared that by aiming to protect investors' cryptographic assets, the following regulations might lead financial technologies to merge with millennium technologies like VR( Virtual Reality), AI (Artificial Intelligence) and BI (BioIntegrated) technologies helping to create an establishment of much safer infra-structures in line with the technological development. 'The blockchain is not just a technology, it will be an innovative tool that can organically connect all industries, and will play a key role in connecting all sectors of the Fourth Industrial Revolution " He added. The Blockchain technology isn’t immune to risks- proper risk management through technologies like the ABLE Project will help to create a much safer environment for crypto-traders and investors.