World’s Risks and Research on Blockchain
by Dr Vlad Shipov
A blockchain-based system called Wrisx (pronounced [risks]) is being built to tackle a problem relevant for enterprises as well as SMEs globally: the need for research of counterparty risks. Led by Dr Vlad Shipov, an experienced fintech entrepreneur and founder of a credit insurance brokerage in London, Wrisx is building the world’s first risk and research platform powered by blockchain. A token generation event is being prepared to complete the development and marketing of the platform.
The idea for an emerging markets research blockchain-based marketplace was borne out of observing a massive market gap. Wrisx team’s direct experience includes working for leading global institutions in the banking and insurance industry as well as setting up and running a credit insurance brokerage firm in London. There they have been witnessing first-hand how many projects from emerging markets are routinely declined by major insurers and FIs. This is often due to the lack of comfort and understanding by western-based institutions of emerging markets businesses, as well as by the ratings-driven approach to portfolio management. Low country ratings assigned by a handful of western-based rating agencies act as ceilings for ratings of businesses in any country.
Wrisx’s business intelligence tokens will fuel its blockchain-agnostic system and lower the barriers of entry to sourcing information on and trading with, counterparties globally. Wrisx is being built to enable independent parties to offer and source information services with businesses, large and small, located anywhere on the planet. They will be able to access the expertise of rated independent analysts at competitive pricing when they would like to get research on an existing or potential counterparty or investment target in any market.
Wrisx is positioned right at the sweet spot of several concurrent significant trends we are seeing globally:
- increasing adoption of blockchain-based technology in its various forms,
- tremendous growth of emerging markets with corresponding growth in demand for capital and risk services, including infrastructure investment, which represents another multi trillion-dollar gap,
- adoption of P2P models in various industries,
- social development of communities,
- lack of flexibility and market responsiveness of traditional sources of research and risk appetite,
- regulatory developments such as the EU’s directive MIFID II forcing banks to unbundle their research from brokerage services.
Wrisx’s blockchain-based application is a game-changer for researching risks of emerging and developed markets businesses not adequately serviced by the current risk and capital systems.