Is This The Biggest Blockchain, Big-Data, A.I., FinTech YOLO Trade Of All Time?

Meet LongFin Corp  - an independent finance and technology company. The Company offers commodity trading, alternate risk transfer, and carry trade financing services. LongFin also provides hedging and risk management solutions to importers, exporters, and small medium business enterprises. LongFin serves customers worldwide.

As iBankCoin notes, it has all of the trimmings of wanton degeneracy on an industrial scale.

  • Recent IPO: check
  • Small float: check
  • Shady as heck: check
  • AI company: check

and the cherry on the top...

  • a day after coming public, they announce the purchase of a blockchain company: check

Longfin Corp.  a leading global FinTech company, announces the acquisition of Ziddu.com, a Blockchain-empowered solutions provider that offers Microfinance Lending against Collateralized Warehouse Receipts in the form of Ziddu Coins.

Ziddu Coin is a smart contract that enables SME’s, processors, manufacturers, importers and exporters using cryptocurrencies across continents. Ziddu Coins are loosely pegged to Ethereum and Bitcoin. The importers/exporters convert offered Ziddu coins into Ethereum or Bitcoin and use the proceeds for their working capital needs. At the end of the contract, importers/exporters will realize their proceeds and pay back their funds through cryptocurrencies only. Depending upon the risk profile of the counterparty, the interest will vary from 12% to 48%.

 

“The advent of Blockchain technology has caught the imagination of the global financial services industry; blockchain is emerging as a technological revolution that is set to disrupt the financial services infrastructure. Cryptocurrencies such as Bitcoin and Ethereum will act as a global financing currency to avail credit against hard currencies of many emerging markets.” Says Venkat Meenavalli, Chairman of Longfin Corp.

And with all those buzzwords, why wouldn't it be up 200%!!

 

"Calculating the incalculable..." -  An ironic tagline indeed!

Comments

CPL hedgeless_horseman Fri, 12/15/2017 - 12:27 Permalink

Just tear some off the roll. Otherwise if looking for a stable market platform that has a decent uptime to purchase Bitcoin, LiteCoin, Etherum, BCH and BCG Quadriga CX is available for Canadians and International customers.  Instant purchases can be done with Interact online and the usual methods of capital transfer since the biggest complaint people seem to be having is speed of getting capital to figure out how they can use it/play with it.So before thinking about jumping feet first into a fluffy startup in a voliatle market, stick to basic approaches of first understanding how the capital works in a slow, safe and boring manner before playing in the startup casino.  It is a wild west and boring/dependable/measured is vastly superior to the quick fix as the Bitcoin market place continues to grow organically to meet real business needs.  Until it eventually consumes the entire marketspace under a tight, transpearent and secure roof.Quadriga CX...Conservative old school trade platform and it works well.

In reply to by hedgeless_horseman

Snaffew Fri, 12/15/2017 - 11:37 Permalink

and the interest they charge on transactions is ony 12-48 percent...already 1,000 new Romanian Warehouse contracts have signed up---

adr Fri, 12/15/2017 - 11:38 Permalink

Microfinance Lending against Collateralized Warehouse Receipts in the form of Ziddu CoinI am allowed to borrow against my accounts receivable, at 100:1 if I want.Here's why I don't: CANCELLED PURCHASE ORDERS.

taketheredpill Fri, 12/15/2017 - 11:53 Permalink

 CTO only has one name.  Gaddi.  Love it!Looks like a bunch of brilliant Indian dudes hustling to get rich.  Now a $150 MM company providing trade financing and FX hedging for import/export (using AI) and a foot in the door of blockchain....As lottery tickets go you could do a lot worse...

East Indian Fri, 12/15/2017 - 12:24 Permalink

Collateralized Warehouse Receipts (inherent value: doubtful at best)Lending crypto against it (inherent value: zero)interest: 12 - 48% Hmmm... When the "money" earns you nothing or negative interest, such schemes will flourish and thrive. 

asscannon101 Fri, 12/15/2017 - 12:30 Permalink

Wait until you see MY company, Turdbutter LLC. It offers everything that Longfin does, but with that bitter-sweet, piquant flavor of turdbutter that only a magical crypto investment can provide. "Turdbutter LLC. If it was up your ass, you'd know..."

Shhh Fri, 12/15/2017 - 14:54 Permalink

The Japanese and Korean traders sought an internet based value that could cross borders and survive a nuclear war. Their plan B investment in case of nuclear war are cryptocurrency. In case of nuclear war ,they can escape their demolished home to Argentina buy a Mansion and retire far from the nuclear wasteland. Its not that cybercurrency are a great post nuclear value. Instead dollar based assets have no value in east Asia once the nukes start.