A mainland Chinese Cryptocoin with valuable IP, the next new, new thing the west does not know about?

Okay, I was among the very first users of something called 微信 （wechat) when i first began using it, and for some time I thought it was a kind of “toy”, a Chinese watered down version of What’s App. It is now a media, informations, and business juggernaught with something like 800m users world wide (or so i am told). Wow, me a long time lawyer living and working in manned China for many years now, was caught completely by surpise. Okay, so maybe this is something, the next new, new thing, maybe it is not, but time will tell, and you can say you saw it here I guess first?

Well my practice involves corporate commercial, finance, mergers, IP and tax mostly, and with the rise in the rules and regulations recently imposed by the OECD effective January 1, 2017 which makes financial transactions burdened with reporting requirements by financial institutions whereby all transactions must be traced to the beneficial owners and their purposes (which used to be the requirements for Americans) there is more and more interest in cryptocurrencies. Is this a cause and effect, who knows? Not me, I am a a simple corporate commercial lawyer with intellectual property and tax training, not an economist. All I know is what I know from my worldview, and what i see is more and more interest in cryptocurrency from my clients. Which one’s are good which one’s are fly-by-night (Bitcoin, Potcoin which hired Dennis Rodman as a pitchman and supported his recent trip to North Korea, still dunno). From where I sit, I can see something interesting happening. I do not own cryptocurrency, and i am not touting is at all but there are some very interesting developments from what i see in my work in on the ground in China.

mainland China’s “Antshares” is a crypto currency/digital assets blockchain that might just be the upcoming Blockchain coder’s ultimate dream.

For now, the majority of information about the coin is only available in Chinese (this is where I have stumbled across it in our law practice representing Chinese businesses and high net-worth individuals of all stripes). As I recall Wechat too was only available only in Chinese when i joined. From what I can tell the product itself is still in its early development stages. But because it is available only in Chinese language (for now) and the fact that it is a cryptocurrency developing in mainland China are the factors alone make for an extremely low current coin value and market cap. I believe the true value of this coin is higher, how much higher? higher. At least one unsubtatiated source I have read is claiming 10,000% higher, but who knows, rumors about business here among the 老百信 (masses) is a full time sport. There is a reoccurring buzz in China about Antshares, again i do not own any and know of know-one else that owns such shares, but I think there might be something there.

Here are some reasons why “Antshares” might just be currently the most undervalued cryptocoin out there:

• A serious platform built by serious people. Who seems to have the educational skills and abilities but what’s more is what is not said, this is a country with a one-party rule, if they exist one might conclude they are either “off the reservation” or they are totally connected and allowed to proceed because of these connections.

• Antshares integrates E-Contracts, a way to register intellectual property, actual contracts, and other forms of ownership. Since China’s laws on patents and intellectual property have been… loose (to say the least) this system may give Chinese businesses the opportunity to better register ownership of intellectual material.

• (Rumors of) plans to internationalize and have a better integration with the West. We’ll know more on June 22nd.

• A nice looking, consumer-friendly cross-platform wallet app.

• Smart Contracts 2.0: A way to write smart contracts in any of the the popular programming languages (C#, Javascript, and more). Still in development.

Another major point is that China is a land of investment & opportunity. Businesses and individuals not only strive to maximize Crypto Currencies’ potential alone, but also the actual products being developed on the Blockchain (in this case, built on Antshares). Applications built on Antshares by reputable Chinese businesses can potentially receive major investments. Think Ethereum ICOs, but with businesses truly having experience with increasing value in terms of actual development rather than just a focus on marketing and speculation. The kicker, is the everyone knows the national currency the 人民币 RMB is not a “fully convertible currency” so for a a whole host of reasons clever Chinese folks are always looking for solutions on legal (and I guess illegal) currency conversion. The Antshares is now in the middle of this “perfect storm” and confluence of events make this something to have a look at perhaps because necessity is indeed the mother of invention. Is this an issue for folks in rural Illinois, whereby someone wants to develop a new currency, probably not, not a big incentive to get off the couch. But in China, there are approximately 300 million people who have a lot of “buying power” under the State Administration of Foreign Exchange (SAFE) these Chinese may only send out up to 50K USD per year, a well established cryptocurrency which would not be under the perview of SAFE would be and could be the catalyst to increase an exit of capital in some way.

What I have learned is Antshares’ market cap is currently in the same area where you find crypto currencies that are purchased with Counter-Strike skins. My guess is Antshares does not belong there. Some netizens in Chinese language opine Antshares belong in the Coinmarketcap Top 10 regarding the value it brings high net worth Chinese, Chinese SME businesses and even Chinese developers.

Considering the recent rapid speed in development and publicity/attention Antshare is receiving from the Chinese public, netizens, and Chinese businesses (more importantly this publicity is not closed down nor seems to be prohibited). I do not have to be an economic genius (I am not) to predict a price of over $100 per Antshare within the next 18 months. We live in interesting time to be sure.

Published by administrator on June 26th, 2017 tagged China News