Euro Asset Hong Kong, a subsidiary of Euro Group of Companies, working in the market as an assets management and holding company, primarily in the crypto market, has acquired Eurofix (EFX).
Eurofix is a crypto technologies provider company founded in 2018, working with a mission of empowering everyone in the financial system to make it more accessible and easy to use with the help of crypto technologies. Their platform enables individuals, organizations, and entrepreneurs to come together in order to trade, raise fundings, invest with products that are easy to use, safe, and accessible to each and every one. They believe in reinventing money to transform the world’s economy so that people can live better lives. Eurofix is the company that holds a large amount of ERC-20 that is a technology tokenstandard in ethereum.
Ethereum, one of the most popular and significant blockchain system, based upon the tokens that are the sole unit for buying, selling, and trading. There are multiple tokens that are used on the platform and one can make their own too. One of the most significant tokens is ERC-20, which has now become a technical standard used for all the smart contracts on the ethereum blockchain for token implementation. ERC-20 is really similar to bitcoin, litecoin, and other currencies but instead of issuing a new blockchain, it uses the ethereum as a platform.
The Euro Group of Companies is into four main business streams that are, property investment and development, executive search and recruitment, events and marketing management, and asset management as Euro Assets. Having multiple sites around the world including, New York, Singapore, and Hong Kong.
The Euro Assets offers prospective investors an opportunity to share in superior risk-adjusted and risk minimized returns on investing in prime real estate on an opportunistic basis. The company is looking to expand its horizons and is now entering the crypto market with an acquisition as they acquire Eurofix recently.
The company excels in performing comprehensive risk-reward analysis in regards to shifting macroeconomics and demographics and have shown the best results. The primary strategy of Euro Assets is to source prime real estates build their perceived value and then make a profit out of selling it. They use many techniques for the purpose that includes marketing, promotions, etc. same is going to be done with the Eurofix and they are going to make a whole lot of profit out of the investment as ERC-20 is a leading technology on ethereum platform.
ERC-20 is a gold mine as it is a leading token and more and more people are going into it as a wave of change that is urging more people into blockchain technology and especially ethereum. Considering the fact that ethereum allows to create and trade customized tokens for organizations or individuals, it has a higher acceptance rate and a clear edge over the other technologies.
Dubai has announced to go decentralized by 2025 and most of its systems will be on ethereum backed by the very same token and the firm is going to be in weight against gold and make tons and tons of profit with this deal.
On the other hand, this is a potential threat to the system aswell. As most of the stakes will be owned by the company that is fairly new to the crypto industry, and is open to business only, it is possible that the future of these tokens and technology, in general, may have a great influence on the firm’s own benefits and interests and may have a negative influence on the growth of technology as well. The future of the most advanced and used technology is in the hands of an industry noob and we are here to see what happens and accept as the most stakes hail from them only.
What we can do is hope for the best and wait and watch what happens. And what shape does it take in the new hands and the coming days? This could be the most controversial and most devastating acquire of the tech industry and is going to shape the future of technology and the way we see, use, and handle technology these days for sure!