Korean wealth management company stated: cryptocurrency will be a safe safe-haven asset in the future

Jeong Ki-wook, founder of Cisco's former executive and TrustVerse, a South Korean-based wealth management platform, said that in the long run, cryptocurrency assets such as Bitcoin and Ethereum will evolve into safe haven assets.

In an interview with ZDNet in South Korea, Jeong said that if innovative technologies and solutions can be used to minimize investment risks, cryptocurrencies could become safe haven assets. At present, the cryptocurrency market is extremely unstable, and digital currency is still immature as a means of payment.

However, as merchants, businesses, individual users and retailers increasingly use cryptocurrencies, the market will become stable, and cryptocurrencies should be used as a combined payment method in various businesses, at market prices. Stability is very necessary.

As an investment, cryptocurrencies are still a high-risk and high-return asset class, and traders can get 30% of their profits within 24 hours or suffer a 50% loss. For full-time traders and individuals who focus on the field, such volatility is still manageable, but for ordinary traders and institutional investors, it will be difficult to deal with highly volatile assets.

Jeong said that it is critical for investors to have a system that can detect risks autonomously and change the cryptocurrency and token mix according to market conditions. To do this, he emphasized that artificial intelligence is critical to providing investors with automated advice and creating a balanced digital asset portfolio.

In the past three years since the founding of Ethereum, many organizations and startups have tried to use artificial intelligence and decentralized management to invest in the market and reduce the risk of cryptocurrency investments. The Decentralized Autonomous Organization (DAO) was the first project to conduct an ICO on the Ethereum platform and was the first project to attempt to commercialize the idea, but ended in failure.

More and more projects follow DAO's pace and try to develop artificial intelligence-based market analysis systems and methods to reduce the risk of cryptocurrency investors, but often do not attract the public's attention. Based on Ethereum, Numerai is one of many data scientists trying to achieve a similar model by establishing a centralized hedge fund, but it is difficult to see large-scale success.

Recently, venture capital firm Founders Fund, led by billionaire investor Peter Thiel, invested in a startup called “Tagomi,” which will help institutional investors and large family funds trade through the over-the-counter (OTC) market and cryptocurrency. The orders are evenly distributed to increase the liquidity of the investment in the cryptocurrency market. In addition to traditional equity market investment methods, Tagomi is expected to implement other innovative solutions to reduce the risk of large investors.

As explained by Cornell's professor Emin Gun Sirer, we have not seen the practical application of artificial intelligence in cryptocurrency wealth management and investment in the blockchain field. However, once successful in this area, it will bring a large number of applications of cryptocurrency and attract a large number of investors.

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