Why I Invested In the EOS Blockchain Before Test-net Launch cover image

Why I Invested In the EOS Blockchain Before Test-net Launch

By Gavin Marsh

finance

EOS undervalued

Introduction

In this article I will provide five reasons why I invested in the EOS blockchain, I walk through my reasoning and decision process.

My background

I live in Westminster London, not the houses of parliament Big-Ben Westminster but the City-of-Westminster in SW1. I work in the Technology industry as a Business Development Manager and my chosen sales area is West London, mostly the area of Mayfair. The reason I chose Mayfair is because this is where most of the Private Equity and Private Banks are located. Global Banks and the High Street lenders tend to have their Head Quarters in Canary Wharf E14 and E15 postcode (the London financial sector), but the private money is in Mayfair. On a daily basis I speak to many independent Private Equity companies.


Reason one - EOS Testnet is about to launch

Dan Larimer and the Block.one team have confirmed that the EOS Testnet will be launched in a few weeks, more precisely it will be launched at the Blockchain-Live conference held in London on the 20th September. Since the EOS ICO (initial coin offering) started the main red flag for not participating in the token distribution has been that EOS is currently vapourware and does not have a live working product. Once the Testnet is launched this can no longer be said and looking back at Dan Larimer's most recent Blockchain projects BitShares and Steemit, history has shown that he produces great software products that reach the top ten Coin market cap shortly after their release. Dan has stated many times that it took him and one other programmer just three months to code and release Steemit. Justin the co-founder of BitShares stated in a recent interview by SGTreport.com that:

"the EOS project is the project Dan has always wanted to build and if people don't think he'll build EOS then they are crazy”.

Reason two - London's Private Equity sector is ready.

Just twelve months ago Blockchain tech and Bitcoin where words that only geeks and technologists used, but Bitcoin and Altcoins are moving into the main stream, Bitcoin in particular. In the UK the Financial Times has covered stories about Bitcoin and Crypto currencies thirty seven times throughout this year and I believe private investors are ready to move a portion of their portfolio into crypto. The big banks and High Street lenders are slow and restricted in what they can invest in, but Private Banks and especially Private equity firms are much more nimble and can take a steer on how their investors want to invest their money. Private Banks and Private Equity will move into Blockchain technology first and then larger institutions will follow.

London financial district

Reason three – An audience of investors

I believe this years London Blockchain-Live conference will have a substantially high turn out of Private Equity companies. For the whole of this year there has been good mainstream coverage of Blockchain tech and serious well-funded private investors have no doubt seen the potential for investing. I believe that the conference, which once used to be attended only by Geeks and technology experts, will have a large percentage of investors looking to research and mitigate risk for their private equity clients. London is classed as one of the leading technology hubs in the world and I cannot go a day without a customer wanting to discuss Bitcoin and Altcoins.

Reason four - Block.one

There are actually two points I want to make about Block.one //link//, the first is the amount of advertising money that they spent at Consensus 2017 conference in New York this year in May. They purchased just about every advertising space in the conference, which I was told by Brendan Blumer was a figure of over £240k. I attended the London-Fintech-Week conference in July 2017 where I had a lengthy discussion with Brendan and again everywhere you looked was EOS logos and LED promotional displays. They even had sign written EOS London black cabs to transport investors to after-parties held at prestigious London venues. My point is they have the money and are willing to own the show and spend capital to promote their product. The difference now is at the Blockchain-Live conference it won't be vapourware but an actual product with a live testnet in operation, which Block.one will no doubt be promoting.

Which brings me onto Block.one's CEO. Brendan Blumer knows how to present a technology product. I watched and listened to him present a number of times at London-Fintech-Week and his pitch is flawless, and yes

I call it a pitch because that's exactly what it is. Make no mistake it's a sales pitch...

Brendan has had multiple companies in Hong-Kong (starting at the tender age of just fifteen years old) all of which have been successful and he has public speaking down to a fine art. I myself personally run monthly technology events at the Shard here in central London and we have regular guest speakers, I my opinion Brendan Blumer is one of the most confident public speakers I have seen and heard. Where he really excels though is in the Q&A section of his talks. I must admit I thought this would be when he may come unstuck and the cracks would begin to show. This would be the moment when i really learnt if EOS was indeed a legit technical Blockchain or just hot air. However Brendon answered some very challenging questions head on and there is not a doubt in my mind that he knows the EOS product inside out but more importantly he knows and understands the competition and can articulate and confidently communicate EOS's unique Selling points’

Which is a key skill when speaking to hungry investors looking to jump on the Blockchain bandwagon.

Reason five - EOS Price is currently in a downtrend

At the time of writing this post (2nd September 2017), the price of EOS is at £1.09 ($1.40) per token. It has been in a strong bear trend for just over a week. There is also a clear downward trend line on most price-chart time frames. EOS token can be purchased on the Bitfinex exchange. For USA citizens you may like to read this article How to purchase a VPN with SBD.

Summary

  • EOS will become a physical product in September (no longer vapourware).
  • Blockchain technology has hit mainstream news outlets.
  • London's Private Equity sector is definitely ready to invest heavily in Blockchain tech.
  • Block.one has an experienced, well-versed and well funding sales team.
  • EOS is currently controlled by the Bears and is in a downtrend.

Final thoughts

I will be keeping a close eye on this downtrend and as soon as it breaks the current resistance line I will be purchasing as much EOS as I can get my hands on prior to the Testnet being launched.

Published on September 2, 2017.

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