Genesis Vision Coin Review

They’re building a new decentralized platform that aims to bring exchanges, brokers, traders and investors together. They state in their whitepaper that by using blockchain technology they’ll be able to provide a completely transparent platform to facilitate lending between professional traders and investors.

In simple words, Genesis Vision is a financial solution, a project to build a management platform for mutual funds through block chain technology.

Gensis is proposing a system which will enable investors to passively invest in BOTH cryptocurrencies and traditional assets. Trust management in this reference is a system where investors transfer their funds to wealth management companies/fiduciaries/experts who manage and invest these funds in assets which match the investor’s risk profile. The total amount of funds under management globally were at $70 trillion in 2016, and are expected to reach $100 trilllion in 2020.

In simple words, Genesis Vision is a financial solution, a project to build a management platform for mutual funds through block chain technology.

Problem with traditional Trust management

Most traditional trust managements run in the same sort of way, you simple invest money with them and they (hopefully) provide you with a profit and a small report at some point in the future. The problem with this for investors is they have no idea what’s going on with their investments.

Investors generally receive some sort of report with statistics but this can’t be verified.

This lack of transparency is the main problem with the industry. Brokers have the ability to lie about the trade history of their managers.

Solution

Genesis Vision are aiming to add more transparency to the market with the help of smart contracts on the blockchain so that investors know exactly what’s going on with their money, they hope that this will instill more trust into the market and attract new investors.

Genesis Vision platform integrates all participants into one, allowing investors to choose a wide range of managers and managers have access to more potential investors

Advantages for investors, managers and brokers

Investors:-

  • Access to managers from all over the world
  • Accessibility to information and statistics
  • Transparency
  • Protection against PONZI
  • Liquidity

Private Managers and Funds:-

  • Opportunities to attract investors from anywhere in the world
  • Transparency guarantees fair competition
  • Promotion of self-trading strategies
  • Managers Issue their own crypto which can be traded freely

Brokers:-

  • No centralization
  • Opportunities to attract investors from anywhere in the world
  • Openness of the network allows trust
  • Brokers have the right to do any marketing, use any methods of attracting managers, and establish any trading conditions for managers.

How this works?

Each manager on the Genesis Vision platform will have their own cryptocurrency, the size of which will depend upon their previous trading statistics. For a user to transfer funds to a manager they’ll need to buy a managers cryptocurrency on the platforms internal exchange.

The trading process for the manager will stay the same, they’ll continue to trade on their preferred exchange. Genesis Vision will record all of their trading statistics on the new platform. The new platform will be able to guarantee investors that all of this information is correct and with the use of smart contracts the investment and profit history will all be available to view.

Tokenomics

  • ICO Sale dates: 15th of October- 15th of November.
  • Token price at ICO: $1=1 GVT.
  • Circulating Supply: 3,726,781
  • Total Tokens:- 4,436,644
  • ATH:- $44.32 (0.00265 BTC)
  • Current Price:- $32.13 (0.00342 BTC)

Markets

Binance, Kucoin and HITBTC

 

 

Team

The Genesis Vision project is targeting users in the FX and CFD markets, and the team consists of teams with extensive experience in this field. The team had their Initial Coin Offering certified by The Financial Commission successfully.

CEO, Ruslan Kamensky, is a block chain architect, a financial software developer with more than seven years’ experience. He was also the head of the software division of a financial brokerage company that develops the trading system of the stock exchanges “St. Petersburg”.

Dmitry Nazarov is the COO of Solution Architect and has over 6 years of experience in various international financial institutions. Among them are brokerage firms,stock exchanges, and large UK based foreign exchange companies.

Alex Kutsenko, the CEO of “Tools for Brokers”, he joined the team at the start of 2017. His company has been in the market for 8 years and has over 300 brokers as clients.

The project started in November 2016 when the 2 CO Founders won Hack-Russia in the nomination “finance and blockchain” with the project. Because the project seemed so promising they continued developing it after the event.

Moreover, they have excellent advisors on board as well such as Konstantin Gladych and Charlie Shrem

Verdict

Credibility is always a top priority when looking at ICOs and Genesis has plenty of it.

Genesis builds up on the existing blockchain based asset management firms by enabling a window for traditional assets. Although the initial product focuses only on cryptocurrencies and Forex, many investors will find value in holding multiple fiat and cryptocurrencies together. The concept of each asset manager having his own currency seems really cool and will help attracting many potential traders/analysts. However, there is intense competition in blockchain based asset management space with companies like Melonport already working on betas with a thousand users. We hope Genesis does not lose a significant market when it rolls out its first version in 2019.

Risks

The gateway to traditional assets will not be easy. Genesis will face many regulatory headwinds when it eventually expands in traditional assets beyond Forex.

As mentioned above, Genesis faces intense competition in cryptocurrency asset management space.

Although the concept of asset managers having their own currencies sounds interesting, it makes the project much more complicated.

The first version of the product will be released in 2019, which seems a bit stretched.

Growth Potential

Although the share Forex asset management is lower than other forms of asset management, it still is humongous considering the total market size of $70 trillion.

Credible management and the advisory team is a big positive.

Genesis already has a solution for trust management market used by 80 financial companies. The working solution is based on a b2b model and is centralized.

Genesis has good relations with around 400 brokers and 50+ wealth management companies. This will help them scale very quickly.

Pros

  • innovative idea
  • Transparency
  • skilled team
  • detailed roadmap
  • significant volume

Cons

  • client dependence
  • niche area

The project seems promising with the initial concept winning HackRussia. With Alexey Kutsenko on the team who already has 300 brokers as clients it should develop well. This is a long term HODL and we suggest you to keep 2-4% of your portfolio in this coin

Posted on May 23, 2018 in Coin review

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Humza Hamid

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BEL 3.0 was established by a diverse range of individuals united by the greater vision that Blockchain and peer-to-peer technologies can profoundly solve real-world problems.

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