The 1st digital asset portfolio based on a smart contract!
What does managing a cryptocurrency portfolio mean by now?
If you're trading several different coins on several different exchanges you may have to download several different wallets to store your assets as safe as you can; therefore you need to back up every single wallet, create several different passphrases - if you're smart enough to not only choose "test321"!?
Above all you have to instruct at least one person who's absolutely trustworthy, "the tech aficionado" as I call him, to be sure that your wealth won't be lost to the bereaved in the case you pass away.
"Got it?" Yes/No?!
To convey a precise picture: at present it takes a huge effort to set up a digital asset portfolio.
What is PRISM and how does it work?
PRISM is a decentralized portfolio platform running on the Ethereum network; it was launched last week at the Consensus Conference in New York City by the ShapeShift founder and CEO Erik Vorhees.
"The platform is built using Ethereum-based smart contracts that enable investors to construct a crypto-portfolio with a broad range of cryptocurrencies without exposure to third part risk."
What do you need to set up a PRISM managed digital asset portfolio?
To install a PRISM portfolio you only need three things:
That's all! Not kidding!
After you have signed up by creating a username, entering your email address and filling in a safe password you're ready to start!
How to manage a PRISM digital asset portfolio?
Because of PRISM is still running in private beta test mode, only a few lucky ones choosen by ShapeShift are meanwhile actively managing their portfolios with a few mouseclicks!
Does this mean that Wall Street will soon become obsolete?
Frankly... - I hope so!
After the housing bubble burst back in 2007/8 business bank's behaviour has declined more rapidly to the disadvantage of their customers than ever before. Spitting out the slogan "Too big to fail!"Wall Street has become immune to any regulation; backed by the Federal Reserve, paying no taxes they have gained almost infinite power. Wall Street has become the worst symbol for an unleashed rigged market managed by criminals.
What impact will PRISM have on future trading but also on Ethereum's network?
If PRISM becomes the long awaited "Killer Application" adopted by mainstream, then Ethereum could become the "Mother of all Blockchains"!
The unsaid goal of ShapeShift is to build a social platform on which you not only can trade any cryptocurrency but also any
- stock,
- bond,
- precious metal contract,
- option and any
- commodity... - worldwide... - 24/7!
I'm absolutely sure that you can imagine how trading any single asset, 24 hours a day, 365 days a year on a decentralized social platform could bring the whole global banking and financial system down to its knees!
PRISM is kept that simple that anyone who is able to click a mouse, is able to start his own business right here, right now!
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