Bankorus is a private wealth management platform running on NEM and built with artificial intelligence.
Bankorus is introducing the world’s first artificial intelligence (AI) based crypto wealth management platform built on the blockchain. With proven success launching groundbreaking wealth management solutions, Bankorus aims to catalyze
worldwide adoption of crypto for HNWIs and their wealth management firms, enabling them to transform traditional assets into digital assets.
Micai was a project started in 2013 by Greg (CEO of Bankorus) built as an AI assistant for
Chinese investors. Micai would later have an amazing run and become a company that handles in the neighborhood of 30 Billion dollars per day – coming high off this success, the team made a jump into the Bankorus project, which is a bold direction into the blockchain space.
Bankorus looks to ameliorate some of the problems that individuals have with entering and maintaining exposure in the crypto markets. Currently, high net worth individuals simply don’t have the access or capability to get into crypto due to the many barriers and obstacles that prevent them from doing so. One example of this is liquidity; being able to enter and exit a position at any time is extremely valuable for an investor, and this kind of liquidity just does not exist in the current stage of crypto markets.
Ironically enough, high net worth individuals are the kinds of people who are usually willing to take big risks and more daring approaches when it comes to financial instruments – in fact, high net worth individuals almost always adopt new fintech solutions before the big institutions really get their hands on it. This is an interesting thing to note, because high net worth individuals are investing into crypto at a much lower rate than would be expected, following that line of reasoning.
As we went over previously, part of the problem is liqudity; you simply can’t enter or exit large positions when you’d want to. A second issue is the lack of infrastructure surrounding crypto. Coinbase is great and all, but if I have 50 Million dollars and want to spend 1 Million of that on crypto assets, there is no real fast track for me to get that exposure. In fact, Coinbase is notoriously slow at this, and it serves as more of a retail trader/investor portal than anything resembling what a whale might actually use.
You can see some real life empirical evidence of this in the current OTC markets that we have around crypto – some of these high net worth individuals do try and get in with OTC trades, but as always, those can be extremely risky and you don’t always know who’s hands have exchanged the money/crypto you are now in possession of. Bankorus will create this proper infrastructure that will allow high net worth individuals to properly enter and exit the markets with large sums of capital while experiencing low slippage and peace of mind knowing that they are handing their hard earned money to a fully compliant and regulated platform.
The reason why these problems exist is a result of the antiquated financial systems HNWIs—and the private wealth management firms advising them—rely on to
manage their investments. Current wealth management platforms lack the ability to enable the acquisition and flow of crypto assets easily.
Financial institutions serving HNWIs operate in a very fragmented market, which makes them heavily reliant on third parties for technology infrastructure. These
centralized and outdated financial systems, mostly Excel-based systems, provide an unreliable backbone for financial transactions with no clear accountability
for operators in the financial ecosystem, despite heavy industry regulations.
bTokenize is one of the “modules” that Bankorus is building as part of their offering. Essentially what this is going to allow individuals to do is to create collateralized assets on the blockchain that symbolize real world assets. While this seems like a simple task on paper, it is not so easy in reality – which is why Bankorus is one of the first platforms to really tackle this problem. Some other competitors to this kind of concept are Securitize and Polymath, and we see how big those entities have become.
Personally, I am very bullish on security tokens and tradeable securities when it comes to crypto. I am a big investor on these kind of solutions, and am a confident investor in projects that offer on-ramping to wealthy individuals and other institutional investors. With the addition of tokenizable securities on the Bankorus platform, it means that you can get large scale trading and volume done through their bMarket, the complimentary module to bTokenize.
Again, real competitors don’t really exist just yet for tradeable regulated securities exchanges – we do have things like GBX and tZero, but as of yet they are not live.
Partnerships can be a bit of a double edged sword when it comes to crypto. On one hand, you have some pretty horrible PR statements and news drops that talk about partnerships with companies or other blockchains when in reality there is no real work or collaboration being done together. On the other hand, a partnership can signify the maturity of a project as well as their own reach when it comes to the market – it can be difficult to gauge exactly which side you are on, but a close inspection of the facts usually reveals the truth.
For a project that is looking to bring in so much of the legacy system, it’s going to be critically important to bring in enough partners, individuals, and third parties from that legacy system to help bridge the gap. We’re talking about partnerships with banks (real ones – so as to avoid what happened with Wavecrest back in last year), brokers, and other ultra high net worth individuals to bring Bankorus from a dream to reality.
Luckily, Bankorus already has many of these partnerships underway. Bankorus has already raised significant funds from venture capital funds and angel investors including the CEO of Morgan Stanley Bank AG and Crystal Stream Capital. They’re also backed by JD through their accelerator along with Devery and a select few other cryptos. It’s also relevant to add that Bankorus’ board of advisors includes Lon Wong, President of the NEM Foundation, and Chris Van Aeken, former CEO of Morgan Stanley. Quite the impressive line up if you ask me.
Crypto enables the development of other tradable digital assets. If an HNWI invests in a crypto asset, it means they own a portion of the technology the
asset represents, and their ownership allows them to access the benefits of that asset. Investing in crypto enables investors to manage and diversify their
existing liquid wealth. Significantly, it also facilitates the collateralization of underlying assets—such as art and real estate—transforming these assets into
liquid assets as well.
Traditional assets don’t offer suchbenefits to their investors, and this why HNWIs are keen to leverage crypto technology to transform their wealth
Bankorus is a great project with a modest hard cap – we can’t reveal full details on this yet as Bankorus themselves have not made the announcement but it is relatively modest, and we feel quite undervalued compared to the field. For a project that has had very little marketing, their Telegram is chock full at 26’000 members and hype for this one is steadily growing.
With all of that said, we think now is the perfect time to be looking at projects like Bankorus and taking a hard look at what they can offer to the crypto space, both as investors and as institutions come and bring their wealth. The NEM play is an interesting angle, and we feel it works perfectly to give Bankorus further uniqueness and attention on a platform that will almost certainly be less crowded than Ethereum. Look for BKT tokens soon, as this is one project you won’t want to miss.