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Friday, February 22, 2019

Friday Feature Book Review: Impatient Optimist Bill Gates In His Own Words by Lisa Rogak せっかちな楽観主義 ビル・ビーゲート: ライザ ロガック

This book opened my eyes to the true core drive of any great entrepreneur. I admire anyone like Bill Gates, who felt he had to leave Harvard University, because he saw that time would not wait for his software vision idea to be executed. We now know that it worked out, but what kind of person was Bill Gates in his youth?  If he told you during those early days would you have believed him? Did he make a good case? or was it something that had to be seen in order to really be believed.

I have no negative image of Microsoft being too large a monopoly in the business PC world, and never did. Unlike some of my Apple and Mac friends I never saw the two software rivals in the same way as "the Empire" and "the Rebels" like in the Star Wars films. I leave that pointless fierce rivalry to others. I just want to learn what was in Bill Gate's head, what was in common with me, and absorb any key new ideas or traits about him. There are many listed.

Any reader of this book really wants to know if they could have performed the same way, if the timing and opportunity were equal. However, you learn that nobody is equal to Bill Gates, in that he saw a vision that few others did in his time. His mind was already on a path towards a focus that few others really had. It is clear to read from his own words that he did not start on a visionary path while at Harvard University, but much earlier. 

His vision of the world of technology was established in high school long before university. His mind just first blossomed in Harvard. I no longer can listen to TV reports on the debate over will Bill Gates come back to the firm he founded. He has evolved way beyond a single business like Microsoft. His drive is no longer about profits, but goals for humanity and the future health of humans world-wide.

I seriously doubt that any commentator can really think that Bill Gates would even want to go backand help Microsoft make its numbers again. That was part 1 of his career. He is now deeply involved with part 2. He is making numbers count with the health of humanity. If his own drive towards the needs of the planet and human health were not so crystal clear, billionaires would not follow in his lead and support him with their personally earned large funds

Players at the top can often read and sense the moves of other similar players, including strengths weaknesses. You read about observations here, and about how they get applied to software or beyond. Timing aside, you learn about one thing that comes out in very black and white. He worked hard or maybe it is better to say, when he coded or learned about coded software he was always hard at work

You never get the sense that money itself ever drove him. His father already gave him all the basics of middle class life, so it really remained his life's mission to code software not gather the monetary rewards from it. If there is any surprise in this enlightening compilation of quotes, it is that Bill Gates was not a believer in his own software vision from day one. 

He seems to have been torn between seeing what was possible, and worried that somebody else or another rival company, would share a similar vision. Maybe even get there first, and block him or his visionary ideas out of the marketplace. Remember that he could imagine a world then widely dominated by IBM products. However, unlike most, he could see a PC in every office, for every office worker, with everyone using Microsoft software around the globe. It all became a clear reality for many in offices around the world



The Top 3 Takeaways from this book that impact any reader are:

1) There is a lot to learn about how difficult it is to code software. Good software really takes a lot of work. Too many users today who use great software now, they feel it should be easy to use from the beginning. The very hard work needed to make code all work smoothly, is now less understood today, and less appreciated.

2) The impact of wealth was never a major driver for Bill Gates in his early days. You never get a sense that he was playing any game to be the world's richest person. It all came about as a by-product of his strong drive and innovation instinct. Solve a big problem, and money will follow.

3) The technology vision of what Bill Gates saw, that became our current reality in offices today, is now full of PCs and laptops. It was a rare and unique vision. Few at the time agreed with this odd high school student's view of a future business world. He saw this clearly very early on.

Ordinary people do not have those clear visions or pursue them, but he did, and did so in his teens. I now know a little more about why he acted, and what drove him then, and even drives him today. This was a worthwhile read, and not just once. Great for any reader about entrepreneurs, it is not just for technology fans. Highly recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo




      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, February 15, 2019

Friday Feature Book Review: The Absent Superpower (Shale Oil Revolution) by Peter Zeihan 超大国政治の行方不明のリーダー(シェールオイル市場) ピーター・ゼイハン

This book is excellent at understanding how politics can make money within finance. It really stretches your economic, political, and trading imagination in profitable new ways. I have never been this interested in any new style view on economics in a very long time. Peter Zeihan uses a really fascinating mix of Demographics, Geography, and Energy Data to create a very plausible Economic world full of long and short trading ideas. 

I get a Matrix movie like feeling when reading this book, similar to the Red Pill or Blue Pill choice. If you really want to know what the full impact of Shale Oil will be for various markets & global politics, then this is the perfect choice. Take the Red pill right away, this book is for you. 

If however, you want to just keep reacting to what OPEC says in the media, to influence publicly any prices, then take the Blue Pill. I cannot look at Energy News the same way again. The US shale industry has evolved way beyond its first stage wave, and many market investors do not realize how much it has adapted to lower prices via new technology. Time has been a big help due to new uses of technology. My eyes have been opened, and I cannot go back. I am now feeling enlightened. I have a very confident new way of looking at the world anew. It is a world of geopolitics & energy markets that suddenly makes much more sense. I recommend this helicopter like view, so read the book, and get that same feeling.

I love facts, and so does the author, Peter Zeihan. He loves maps, and everything about them. The geographic cases he makes for why nations or markets will go in a certain direction all make very logical sense. There is no clear time table, but he explains many eye opening scenarios, that I would not have expected. Time is very much connected to demographics and Russia's large army today is a prime example. It is a very large standing army today, but will retire soon with a few short years. Use it or lose it, is Putin's real choice.

The more you realize how important this "use it now or lose it forever after" mentality is, the more it actions make sense. Sochi was an Olympic success, so why the invasion of Crimea, why the aggression in Syria, why not then another possible move into Poland soon? If this was just a recent concept, fine, but this observation goes back several years. Many of the specifics are not actually happening on the world stage. Economically, Peter Zeihan, the author, may have a way of looking at the world of energy and politics, on par with "back to the future" how can you NOT want to read more?

There were many times when I kept saying to myself, I must write this down and figure out obvious trades on the long or short side that seem so worthwhile. If you know what trade could happen, you just need to know the timing.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is a lot to learn about energy investment globally, its geopolitical impact in the middle east, and how lower US military policy by it navy in particular, will end the current globalization wave. Many places import food, without it the recent Arab spring will seem like a nice tea party by comparison.

2) The impact of Russian military aggression in Europe has a "use or lose by date" after which the soldiers in uniform today, will retire en masse within a few short years. We could see a Russian army half its current strength within 5 years or less. Putin will not be waiting.

3) The amount of disconnect of the US market made possible by plenty of shale oil with the rest of the world will be wide. Many markets will be suffering from high oil prices from Iran, Saudi Arabian or other conflicts within a few short years. 

This is not a book to read once but many times after more events unfold. You feel as if it is to be absorbed to better understand why oil keeps the industrial world turning. It needs frequent reviews to make sure that you do incorporate all of the key points into any financial, political or energy investment impact view. The maps, charts and solid numbers are well written, smoothly edited, and a wonderful read for anyone in finance or not. Good solid big picture advice on how the world may look in future, and how to anticipate it with winning trades. Highly recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo




      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, February 8, 2019

Friday Feature Book Review: The Oracle Speaks: Warren Buffett in his Own Words by David Andrews ウォーレン・バフェット: 億万長者の助言の言葉

This book is a great insight into the man, and to the point. Unlike SnowballWarren Buffett's recent authorized biography published in 2008, this is a set of highlights. This book is just core hard facts, thoughts and observations by the great investor himself. It comes across not so much as a book, but a collection of important financial notes or guides from the world's richest man. They just serve as a great reminder to stick to the core basics, and maintain your investment principles no matter how much markets change in front of you.

I really enjoyed the very simple text, and it's very easy to read writing style. In fact, I liked it almost as much as the pearls of wisdom shared on each page. In many ways, it is a collection of "the best of Buffett" quotes or observations. If you respect the "Oracle of Omaha", also known as the "Sage of Omaha" or the "Wizard of Omaha", then this is for you. You may also wonder if his personal code of conduct is also a core element to his investment success and proven time intensive process. 

He often seems to be judged by the masses on what he has said in public. Many of the quotes read like a list of insights into how to be a better investor. You wonder if without the great Oracle's frame of mind, perhaps the same trade would not be seen, or recognized, or valued in the same way by non-Oracles like him. He was born on August 30, 1930, and will turn 89 this summer. He was a newspaper delivery boy and started investing when he was 11, in 1941. Think about that date and what it means for the kind of mindset he grew up with. 

He started investing after seeing the great depression all around him, and just when the military spending of World War Two kicked in. He is known for his frugality, and ability to deeply read all about the kinds of companies that he invests in. He has been able to see, via investments, the entire post war economic recovery of the US in global markets. He has also been able to pick winners around these developments and make a very comfortable living. Many other people in theory "could" have done the same, but few took the chance to do so at an early age. Time can be a solid friend with long term investments, and the older Warren gets, the more impressive his results do seem.

There are too many quotes to pass on, but one of the most enduring is not easy to figure out. It is so contrarian, and almost unnatural in Wall Street, where herd mentality rule. Keeping your head focused when others are swept up with market momentum is no easy task. His insight, "be greedy when others are fearful, and fearful when others are greedy" is quite profound. It is not the observation of a teenager, nor a day trading investor. It is the fully matured view of a long term player who has seen many cycles, will see many more, and profit from many of them. 

Thoughts in this book are not just on investment or markets, but about life itself. This may be why the more quotes you read, the more you suspect that it is this rare grounded mindset that is what it takes to make winning investments. 


The Top 3 Takeaways from this book that really impact any reader are:

1) There is a lot to learn about investment and there are no shortcuts that will bring any investor returns long term quickly or easily.

2) The impact of Benjamin Graham, his first financial teacher and influence, was deep and very long lasting. It makes you want to read about the original inspiration for value investing as a result.

3) The amount of deep research constantly needed to make a profitable investment decision cannot be overlooked. It is not that Warren Buffet is brilliantly quick, and can see opportunities faster than others. It is more that once he reads all there is, it is more clear to him what should be invested in.

This is not a book to read once. You feel as if it is to be absorbed, not just read. It needs frequent reviews to make sure that you do incorporate all of the key points into any financial investment view. A very long term habit similar to the man himself, this book certainly satisfies the reader.  It is well written, smoothly edited, and a wonderful read for anyone in finance or not. Good solid sage advice. Highly recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo




      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, February 1, 2019

Friday Feature Review: Japan Blockchain Conference 2019 TOP 54 Speaker NOTES 金曜日のフィーチャーレビュー:ジャパンブロックチェインカンファレンス 2019 トップ 54 スピーカーノート


The recent Japan Blockchain Conference in Yokohama, (Jan 30/31, 2019) attracted over 3,000+ attendees. Many were from overseas, in fact 25% were foreign non-Japanese. These are my personal notes from 2 full days of speaker observations and follow up conversations during the event. I learned a lot, and much of it was unexpected insights. First of all, I had to pick and choose as there were 2 live stages with speakers. I really learned a lot. It was worth my time. There were over 40+ booths with mostly global firms promoting themselves in Japan. For those would could not make it to Yokohama in person, please review my personal Blockchain conference notes with 54 insights to get up to speed on what you missed.



Brock Pierce, The Bitcoin Federation, has been deeply involved with the bankruptcy of Mt Gox since 2014. In fact, he purchased 88% of the equity directly from former CEO Mark Karpeles, and 12% of equity from Jed McCaleb, the original founder. 
* Why has there been no payout to defrauded investors yet after 5 years? Coinlab is the main reason due to a broken contract claim. This is a long standing lawsuit because Coinlab was originally engaged to bring Mt Gox to the US market. It failed and the contract was cancelled as no delivery was completed. They were to get a 90% share of profits from the US market.
* Despite this poor outcome, it has become been successful as a nuisance lawsuit, and has delayed all Mt Gox creditor payouts. Brock has just started GoxRising.com which is now the new center of all creditor claim info. 
* Most creditors had an expected $400 refund claim per BTC, the original price at the time of the bankruptcy. Over 134,000 BTC and 164 BCH worth over US$600Million is at stake as a minimum. There are 24,000+ creditors today. The deadline for all Mt Gox claims in Japan is March 15, 2019, to then be reviewed by the liquidator on March 29. 
* Bernie Madoff's bankruptcy recovered 70% of all lost assets that were returned to investors. Hopefully this amount or even more will be possible for all Mt Gox creditors. Brock wants all creditors to be 100% whole. 
* Due to his previous wealth and knowledge of running various game currency platforms, he thinks he can figure this out, and navigate the legal mess it is now in. He knows market making from his game token days. 
* Brock started making markets from game tokens back in 1999. He was PayPal's biggest global merchant for 3 years, and Google's biggest advertiser at the time. He built a US$20 Billion dollar business. He dominated markets in Japan, Korea and China not just the US or Europe.

Phil Chang, CryptoScientist,  Related to this recovery story, I ran into a former Silicon Valley executive who has had a high 90% success rate recovering lost BTC and other crypto wallets. If you have lost access to 50 BTC coins or similar amounts, then it could be worth recovering given current valuation rates. Include "TMJ" in your initial message for better premium service! He is on Telegram, WhatsApp or www.facebook/CryptoScientist  



Hitoshi Taguchi, DMM Bitcoin, explained how many new services will be released in 2019. One of the most exciting will change the appeal of Bitcoin. He is working on a new system that will offer high interest rates to holders of bitcoin.
* These will not just be similar competitive rates to fiat banks. 
These will be 20 times MORE than fiat banks. For regular interest earning savers, and there are many elderly in Japan or retiring baby boomers world-wide, this could be a huge market they can appeal to. A real Game changer!
* Japan's cashless payments market is now 64 Trillion yen today, and is made mostly from credit card transactions. The government wants this to double by 2025. The only way to do this will be via new debit cards or crypto compatible payment systems for consumers in Japan, not more credit cards.
* The marketplace is getting crowded, and there seems to be only space for large whales to enter into financial services. An oligopoly seems to be dominating leaving smaller startups with less chance of winning on their own. A takeover play seems most likely by large players of promising startups that struggle to find enough traction or footprint size.
* The global market has been tied to oil, and the US dollar has been the dominant currency for this. No matter what country you are in, any nation needed to change any local currency into US dollars to buy oil, and grow the economy. 
* Crypto may have a direct impact on this USD oil trading dominance. It may not last if rival governments start to accept tax payments locally in Bitcoin or other crypto. This would lead to not only mass adoption faster, but minimize the dominance of the US dollar in world trade.



Tim Draper, DFJ Venture Capital, said that all countries around the world will face a new challenge. Government services will soon become cross border competitive, and will be looking to compete for global citizen customers. Geography and borders may no longer be as limiting as before. 
* Due to the Blockchain, Estonia is now able to offer virtual citizenship. This will allow anybody like Tim, to have the ability to open an EU bank account or buy property anywhere within the EU. This is quite a powerful potential service platform. 
* Luckily Japan has embraced crypto currencies early. The countries who do so will benefit the most as the economic benefits spread quickly. Japan is positioned well to take advantage of these new potential benefits.



Travis Kling, Ikigai Asset Management, mentioned that Blockchain is little more than a slow database. It is not needed for all things in future. Some will benefit greatly, but all products and services? Not at the present moment. 
* Travis has views that reflect his trader background of 10 years of trading experience. Coming from 2 top global hedge funds previously, Magnetar and Point72 (formerly SAC) he really knows how to professionally trade crypto. 
* He has "fallen down the rabbit hole of crypto" and explained a number of new concepts. Everyone who saw his session got a very unique education on how to trade in crypto. 
* Bitcoin is now best within the crypto space as a store of value, but not a method of exchange for transactions. Capacity speed is too limited today, but this could change.
* Few have heard of Venmo. It is a digital bank that is rising in size similar to JP Morgan and Bank of America. It will grow in a multi-billion crypto institution in the future.
* The current value of ETH 1.0 is now US$10 billion today and ETH 2.0 is till 5 years way. It is a slow growth play now. Do not expect a quick return due to a new ETH version.
* Mimblewimble, Starks, Snarks, and Ring Signatures are 4 new ways that are improving Blockchain privacy & speed.



Charles Hoskinson, IOHK, Will citizens be gamified in the 21st century? China seems to be preparing for this by a new "social credit" system only possible with the Blockchain and algos. Pilot programs are in place in Beijing. It seems to be a dark path in the future.
* The big brother experiment may finder more followers like Saudi Arabia, Ukraine or any other nation that needs to fully control its people. 
* Troublemakers may soon be branded with a new digital red letter, and be untouchable by social media contacts via threats from new social point penalties.
* Information used to be only shared with kings and the economic elite. The internet has changed this. Today in 2019, any internet user has access to more information that US president Bill Clinton did in 1992, when the internet began.
* More positive uses like "mechanism design" can also rise up for the good. Imagine a reverse insurance policy that pays you if an elephant or giraffe stays alive. This may help people support important conservation projects and still financially benefit.
* Africa may have the most promise for Blockchain due to its youth. Ethiopia have 70% of people under age 30 today. It is a young population that are digital natives. They are eager to make new changes to their economy.
* IOHK have taken 23 developers and put coffee production onto the Blockchain locally. This will help 1.5 million local coffee farmers in Ethiopia find better prices from confirmed sourced coffee in world markets.
* This private/public partnership helps the local economy, but also introduces 1.5 million farmers into the crypto space that had no incentive to do so previously. If there are only 50 million wallets globally, that is expanding the crypto world by 3% in one single action. This can be scaled and transplanted across much of Africa and many other developing nations.
* Mass adoption so far has focused on sales of products or services, but if government can start to accept tax revenue in crypto, that would quicken the mass population into accepting cryptocurrency over a much faster period. The coffee farmers paid in crypto, would be an obvious willing new base of tax payers. This can spread far and wide very quickly.
* Humans need to find ways to minimize negative short term actions that leave long term impacts. We have to figure this out early to prevent any damage we do not know about today that we may cause longer term.
* MIT university have a group called Algorand that is helping. They are creating pier reviews of research papers that are encouraging more universities to do research into these areas. Cornell university have a similar group.



Scott Walker, DNA, has made early investments into EOS, Ethereum and Hashgraph. They have recently invested into Casperlabs. CBC Casper started as a way to make Ethereum faster. 
* Mrinal Manohar is the CEO, he described how PoF (Proof of Work) needs to move to PoS (Proof of Stake) in future. Proof of Work often generates random numbers that clog transactions 85% of the time. Proof of Stake uses 85% of the numbers used in transactions to help speed and productivity for all.
* He also feels that open source code helps all coders to collaborate and be less combative. Open architecture encourages more productivity as a result.



Naojiro Hisada, Rakuten, shared a lot of corporate facts about where they see Blockchain, and where they want to go. The Rakuten brand has reached full saturation of the domestic market in Japan, and needs to grow overseas.
* They have over 100M user accounts in Japan, 1.2 Billion user accounts globally, given the 125M citizens, almost all adults in Japan have an account. Growth needs to be global.
* They transacted over US$30 Billion in Japan, US$112 Billion globally in fiscal year 2017 ending in March 2018 from over 70 services in the group.
* They have grown internationally due to sports marketing in baseball (Rakuten Eagles) and soccer (Rakuten FC Barcelona).  
* They have created over 1 Trillion points from all of their program incentives. This comes from over 700,000 stores based mainly in Japan. More will soon be from overseas.
* This points program started in 2002, and is 15 years old.
* They now have 10 overseas development centers globally in 8 countries. Over 200+ engineers work in both Singapore & San Jose, California, USA.
* They have only 41% Japanese staff, 59% are foreigners.
* They have a 77% male vs 23% female ratio in the group.
* They will open a Rakuten Wallet by April 2019. This will use all global points via Blockchain, and may include crypto.
* RETS (Rakuten Energy Trading System) now trades carbon offset. It is used internally and may be offered to all this year.
* R-STAR is a new way of using digital coins as "tips" to colleagues who help or guide you at work as a mentor. 



Interesting Blockchain random points heard include;
* Forbes will start a new index for the top 10 high volume crypto currencies, it will be called the FB10.
* Y2X are working on a way to bring digital liquidity to real estate. A developed property may have unlocked value of 30% or more based on popularity & current price value. 
* Undeveloped properties like raw land could be much more. These values could go up 10X-20X as electricity, water and full building development are built out over time.
* Some 64 times as many people want to emigrate and leave China than immigrant into it in 2018. This fiat outflow pressure is being countered by use of crypto overseas.
* The huge difference between Chinese inflows and outflows are reflected in fiat, gold, diamonds or crypto being used to move wealth out of China. The pressure on these outflows is huge.
* Rakuten bought a Skype like service called Viber. It now has 900M globally active users, and is growing.
* When Bill Gates began Microsoft, he had no luxuries like bean bag chairs or ping pong in his startup office. They made desks out of empty pizza boxes in the early days.
* Since 2009, around 55% of crypto exchanges have failed. If that were the same for banks, would anybody keep deposits in a bank? Cold wallet security storage still needs work.
* LINE now have a crypto exchange in Singapore called Bitbox that is preparing compliance now and may even include Japanese clients in future.
* LINE & Nomura Holdings will start a joint venture. This could change how the 78 million users of LINE Japan. There are also 40 million in LINE Indonesia, 20 million in LINE Thailand and 8 million in LINE Taiwan. The JV will figure out how to work with the 2 million retail account users of Nomura, and change financial services via Blockchain with social media.
* JETRO will expand a new startup visa program across Japan. They first began with a 6 month visa possible in Fukuoka. It will soon be extended to 12 months anywhere in Japan.
* Africa is under used for crypto global needs. Less than 1% is now held by African people today. With 7.7 billion citizens alive today, too few in Africa use crypto despite high population growth. 
* Media and national governments have not been positive on the image of crypto currencies to date. This is mainly due to the fact that they are in fear of any lost influence economically. 
* High Net Worth Individuals in 2018 have taken advantage of the price downturn in crypto markets. Many family offices are large holders of crypto now. Often each hold over US$1 million worth in each account, sometime many times more.
* BTC can execute at 10 TPS (transactions per second). Ethereum 25 TPS, but Hedera Hashgraph is 100,000 TPS. It is a huge magnitude faster. It is like comparing the speed of a horse and a jet plane. There is no real comparison. 
* The world changes fast. Back in 1992, there were only 10 global websites, today there are over 1.8 billion websites around the world. Many grew rapidly after broadband came out in 1999. With 5G technology around the corner, a new level of growth is about to spread worldwide.


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo




      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891