London 28th May 2018. Black Star Capital, a Japanese financial services company, has accelerated is expansion plants, putting down an indelible marker to its rival platforms. The Black Star team, (CEO Masamitsu Hirai, founder Shuichi Uda, directors Tsunehisa Kasai and Takashi Koga) intend to build on their momentum in an effort to install itself as the dominant platform the blockchain enabled asset management space.
A sector in the midst of innovation
Private wealth management, one of the most established, most venerated, segments of the financial services market, is enduring a period of unprecedented transformation. The financial crisis of 2007 led consumers to question the primacy of their wealth manager, as well as the “at-arms-length” nature of advisory relationships. Equipped with increased data, and demanding greater transparency, client’s expectations of their wealth manager have never been higher.
The arrival of the blockchain, again, has inspired something of a step change – giving outside actors the ability to mimic the infrastructure of a major bank.
“The change is dramatic, but certainly not to be feared – for both sides of the relationship.” Mr. Hirai opines. “Yes the challenge to managers is big – but we see it as a challenge of agility, not an existential threat. We believe of the use of tokens to capture value is an enhancement on age-old reliance on extracting highly concentrated capital and managing investment liquidity. Time and effort saving here will allow advisors more time and space to do what they do best: maximise wealth.”
While Blockchain is being used by a variety of parties across the asset management world, often they are tied into existing banks or financial institutions.
“Our strategy is fundamentally different” explains Mr. Koga “Sure we, ourselves, have all worked within giant financial services firms. Our experience has helped us realise that the change needed necessitates moving outside traditional boundaries.”
Promotion via the crowd
Like many entrepreneurial businesses, Black Star has harnessed the power of the crowd as a method of promotion. In 2017 sold approximately $100m (at the time) of its Spindle tokens. Using this momentum, 2018 promises major growth including listing on 5 global exchanges.
Mr. Harai is open about the firm’s aggressive expansion. “Preaching to the converted is not enough, we need to demonstrate our value to existing wealth managers in order to dominate this space for years to come.”
About Black Star Capital
Black Star Capital
Blackstar Capital Group UK offices are found at 40 Gracechurch Street, London EC3V 0BT.
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