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Alternative Market Briefing

Synchronicity eyes payments revolution through blockchain

Thursday, May 31, 2018

Opalesque New York for New Managers:

Michigan-based boutique asset manager Synchronicity has joined the digital assets investment game with a new fund targeting cryptocurrencies, digital tokens and blockchain backed companies.

Synchronicity launched a fund late last year designed to give investors an easier way to invest in the growing world of digital assets without having to spend time and money on diligence.

"What attracted us to the space was store of value and some of the payment concepts we have seen," Ben Upward, Founder, CIO, Managing Principal of Synchronicity tells Opalesque New Managers. "We think there is a potential to really innovate in the payments space, remove a lot of the friction and operate outside of the Federal Reserve system."

According to Upward, Bitcoin and Ethereum have already proven their usefulness as notes. Over time, he expects that investors and users will take a more nuanced view of each type of digital currency and more payments and transactions will take place using cryptocurrency. "I think we'll eventually get to a place where both blockchain and traditional payments operate in parallel," he says. "There will likely still be a few uses for traditional payments as the technology matures."

In addition to cryptocurrencies, Upward sees value in some digital tokens created for the purpose of fundraising. He argues that even though the ICO m......................

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