The Emirati Royal family has endorsed and acquires 15% of the Crypto Price Index project (CPI) by creating a cryptocurrency analog of the Dow Jones index based on blockchain.
Endorsement From Emirati Royal family
The project shareholders from the Emirati Royal Family included are:
Sheikh Abdullah Bin Rashed Al Sharqi from the ruling family of Fujairah
Khalfan Saeed Al Mazrouei, former Undersecretary for the Private Office of the UAE President
It is a first of its kind project where a royal family is both endorsing a decentralized finance platform while being its shareholder and investor.
Herbert Law, CEO of CPI, noted that such a partnership would contribute to the accelerated global expansion of decentralized financial products. He said:
“I am pleased to inform you that such strong partners have backed CPI as the Emirati royal family members, who share our project’s philosophy. The recognition of such experienced and long-time market participants means that CPI has all chances to become a single reference point for the sector.”
CPI For Dynamic And Volatile Crypto Market
A dynamic and volatile crypto market needs CPI for being a reliable tool for monitoring the industry according to the representatives of the royal family.
The CPI index will work by operating on a blockchain while simultaneously collecting 200 leading cryptocurrencies. It will allow participants in the market for quick reactions to the price fluctuations while saving time to get a full picture of the market conditions.
A specialized algorithm is developed while utilizing the latest data science techniques for real-time monitoring of variable parameters in the market while being based on high speed.
Investors can now assess the crypto market by calling an API or reading the CPI blockchain instead of manually scrutinizing the market.
Herbert Law added:
“With the rapidly growing cryptocurrency market, monitoring of all the digital assets will only become more of a problem. At CPI, we are working on a cutting-edge fintech solution to provide users with real-time analytics. Whether you are an experienced investor or a beginner, you’ll get a reliable, easy-to-use tool to have a global picture of the sector, without being distracted by tracking each coin.”
Partnerships For Further projects
The project is hosting a seed funding round while planning to present the token publicly at the end of the year. Founders of CPI have already entered into partnerships with market leaders such as ZBX exchange and ICO Malta.
Jan Sammut, CEO of ICO Launch Malta, commented on this partnership:
“We are thrilled to be part of the CPI project, who’s ethos is congruent with our objective to democratize the financial industry by disintermediating it to a purely trustless P2P market.”
The current estimate of the CPI200 index is approx. $25 calculated according to the market conditions of the current times and subjected to change later in real-time. Developers plan to release indices and to evaluate other markets such as metal and gold.
Source: blockchainmagazine.net