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The Skim for Financial Advisors & Investment Professionals
Issue: August 2019
Missed the July Issue? Read Now
  • Markets take a breather, S&P 500 -3.61% off its all-time high of 3,027 and the Nasdaq composite -4.56% from its record high of 8,339.64
  • Bitcoin holds above $11k and in an interview on Aug 9th the notoriously bullish Tim Draper doubled down on his prediction that Bitcoin will hit $250,000 by 2023
Allianz creating a JPM Coin-like payment token 

Germany’s biggest insurance company, Allianz, has been developing a blockchain-based digital token for payments and already uses blockchain for flight delay insurance. 

The token will be pegged 1:1 to the U.S. dollar (USD), according to the firm, similar to JPM Coin that is equivalent to one USD and is also built for “instantaneous” transfer of payments between the bank’s institutional clients. The basic “core” infrastructure has already been built and tested by its business insurance unit Allianz Global Corporate & Specialty (AGCS), according to the insurer. The next step for the project will be a transfer trial. 
Goldman Sachs set to go 'further than ever before' with new digital asset project 

The new operation, which is separate from its business that trades cryptocurrency derivatives, will explore new digital asset opportunities for the bank, according to a new job ad for a Digital Asset Project Manager. 
Asset Managers With $74 Trillion on Brink of Historic Shakeout

Investors have stampeded into passive investments in recent years. Index funds are poised to overtake active management in the U.S. by 2021, according to estimates issued in March by Moody’s Investors Service. Bloomberg News drilled into fee, personnel and performance data across the industry. The analysis reveals just how unforgiving the environment has become for active fund managers, read more on Bloomberg.
Read Past Issues of The Digital Wealth Planner
Have a great week,

Timothy Hooker, AIF® 
Founder of the Digital Wealth Planner

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