Alex Igelman – Millennial Esports – Esports, blockchain and the Esports BAR

first_imgMillennial Esports is one of a number of companies that has heavily invested in esports in the past 18 months, but it’s one of far fewer which have built a diverse portfolio across the industry. Alex Igelman, Millennial EsportsAlex Igelman, Millennial Esport CEO, will be attending this year’s Esports BAR in Cannes to discuss one element of the business; blockchain. There has been considerable noise made in regards to esports focused ICOs in the past six months, and Igelman will be giving a talk on this for attendees to the second iteration of the event in February.Esports Insider: Firstly, why did you decide to establish a blockchain division? How do you see it making an impact in esports and gaming?Alex Igelman: Blockchain technology unleashes functionalities that were previously not possible, from the actual ownership of digital assets to the provably fair bookeeping of events. The world of esports will benefit greatly from the numerous applications and platforms that are being developed using this technology. As one of the leading brands in esports today, Millennial has decided to be part of this disruptive change in the way players all around the world enjoy gaming.ESI: We’ve seen a number of esports focused ICOs emerge in the past six months. Do you expect 2018 to see more of these appear, or for there to be a period of consolidation in this regard?Alex: Initial Coin Offerings, or ICOs, have been exploding in the past year indeed. This is particularly true in the world of esports for two main reasons:1) Esport users, players, and viewers are more likely to own cryptocurrencies and use cryptocurrencies than in most industries.2) Esports is a world of digital assets by construction, and as a result is one of the best use cases for blockchain integration.Without judging the merit of each individual project, we have observed very strong ones that will add massive value to the esports ecosystem, as well as other projects that don’t seem to use blockchain to its full potential but merely ride on the hype of the rise in cryptocurrency adoption. It’s our expectation that many more decentralized protocols will be built in esports, that some will fail to gain adoption while some will revolutionise and completely disrupt the whole esports economy. ESI: What can attendees of the Esports BAR expect from your talk?Alex: We think it is useful and enjoyable to describe and imagine together all the possibilities that esports on blockchain offers to users: seamless in-game payments, market place for various in game assets, recording of past achievements, truly shared economy for game developers and users, just to name a few.ESI: Millennial now has a fairly diverse portfolio across esports and gaming, from a production studio, to a venue in Las Vegas, a simracing tournament operator and developer, and a data analytics firm. Is the plan now to make more investments and acquisitions or to focus all efforts to growing these?Alex: I strongly believe that with the acquisition of Eden Games, we are extremely well positioned in the esports ecosystem.We are involved in almost every known current vertical, save and except for team ownership- an area we have purposely avoided. While future acquisitions and tuck-ins are always possible, we will now focus on building our publishing arm and growing the user base of Gear.Club while leveraging and utilising all our other amazing assets to do so.Disclaimer: We are an official content partner of the Esports BAR in Canneslast_img read more

Sudan score at the death to deny Zanzibar

first_img0Shares0000Zanzibar’s Khamis Musa Makame vies for the ball with a Sudanese opponent during their CECAFA Senior Challenge Cup match at the Lugogo Complex in Kampala on December 8, 2019. PHOTO/Timothy OlobuluKAMPALA, Uganda, Dec 8 – Substitute Montasir Osman scored at the death as Sudan came from a goal down and a missed penalty to play to a 1-1 draw with Zanzibar in the Group B opening match at the CECAFA Senior Challenge in Kampala on Sunday.Sudan’s Emaldeldeen Salah had missed a penalty in the first half before Khamis Musa Makame scored for Zanzibar. However, the Sudanese got a much needed point and it came just after Zanzibar had been reduced to 10 men. Ahmada Ibrahim was shown a straight red card with four minutes left to play after an elbow off the ball on Salah.Sudan had a chance to score after half an hour when Mudathir Yahya handled the ball inside the box as he tried to defend a corner, but Salah saw his effort saved and the follow up also blocked by keeper Suleiman Ahmed.Sudan made changes with Osman coming on for Awad Mohammed and he almost made an immediate impact when he struck a shot from range but it was tipped over for a corner by the keeper.In the second half Zanzibar improved in offense and were gifted with a goal 10 minutes in when Makame put the ball across the line from a goalmouth melee.But the never say die Sudan gave in a fight and were pleased to get the point at the death, Osman’s shot from range gliding past a forest of defenders to beat the keeper.0Shares0000(Visited 20 times, 1 visits today)last_img read more

US Fed proposes new regulatory regime for foreign banks

first_img WASHINGTON — The U.S. Federal Reserve on Monday proposed a new regulatory regime for 23 foreign banks operating in the U.S. that could make life easier for some lenders, while tightening up rules for more risky foreign firms.The proposal, which would affect major banks like UBS, Credit Suisse, Deutsche Bank and HSBC, is part of a broader plan by the Fed to more closely tailor banking rules in line with firms’ risk profiles.The proposed changes, which are subject to industry feedback, would relax the capital and stress testing requirements for the subsidiaries of foreign banks. They would, however, impose stricter liquidity rules on subsidiaries of foreign lenders that rely extensively on riskier activities like short-term funding.The Fed also said it was soliciting input on imposing stricter liquidity requirements on foreign bank branches for the first time, although it stopped short of proposing new rules.In addition, the central bank proposed relaxing the schedule for how frequently foreign banks and domestic banks must submit “living wills” detailing how they could be dissolved in the event of failure.Currently, large foreign banks have to submit the plans annually, but the proposal would allow them to submit plans every two years. Smaller banks would be able to submit less detailed plans on a three-year cycle. All domestic banks would also be allowed to submit scaled down plans every two years and comprehensive plans every four years.Related Stories:UPDATE 1-U.S. banks clear first hurdle of Federal Reserve’s annual stress testU.S. Fed seen launching repo facility in early 2020 -Deutsche BankTrump says Fed ‘doesn’t know what it is doing’ -TwitterOverall, Monday’s proposal could reduce aggregate capital requirements for foreign banks by 0.5 per cent, in addition to lowering compliance costs associated with stress testing, the Fed estimated.However, changes to the liquidity rules on foreign bank subsidiaries would see aggregate liquid asset levels rise 0.5 percent to as much as 4 per cent, the Fed said.Most foreign lenders currently hold enough liquid assets to satisfy the proposed changes, but depending on a bank’s precise activity, some banks including UBS and Credit Suisse could see their overall costs rise, according to Fed officials.The Fed board of governors voted the proposal through on Monday, although governor Lael Brainard dissented.The proposed changes were prompted by legislation passed by Congress in May 2018 which gave the Fed discretion to ease rules for all but the nation’s largest banks.The package aims to broadly put foreign banks on an even footing with domestic firms after the Fed last October unveiled a similar proposal tailoring rules for super-regional and other large domestic banks.But the Fed on Monday also said foreign banks tend to engage in riskier activities than their domestic rivals, including cross-border lending and trading, and short-term wholesale funding, leading it to be tougher on firms more heavily engaged in those businesses.Foreign banks have for years complained that they are at a regulatory disadvantage in the U.S. and are likely to push back on an additional idea floated on Monday to impose stricter liquidity rules on the branches of foreign banks. Unlike foreign banks’ separately capitalized subsidiaries, branches are legally part of the overseas parent and therefore not subject to the same degree of U.S. oversight as domestic firms. That arrangement had sparked concerns that branches could become a haven for riskier assets.Fed data shows that of foreign banks with combined assets of more than US$50 billion, around 40 per cent of all their U.S. assets were held in branches as of June. © Thomson Reuters 2019 Join the conversation → April 8, 201912:47 PM EDT Filed under News FP Street ← Previous Next → The U.S. Federal Reserve’s proposed changes would relax the capital and stress testing requirements for the subsidiaries of foreign banks, but impose stricter liquidity rules.Associated Press advertisement Pete Schroeder Reddit Facebook Share this storyU.S. Fed proposes new regulatory regime for foreign banks Tumblr Pinterest Google+ LinkedIn More Featured Stories Reuters Comment 0 Comments Email Sponsored By: Recommended For You’This keeps us in the game’: GM throws Oshawa plant a lifeline with $170M investment that will save 300 jobsTrans Mountain construction work can go ahead as National Energy Board re-validates permitsDavid Rosenberg: Deflation is still the No. 1 threat to global economic stability — and central banks know itBank of Canada drops mortgage stress test rate for first time since 2016The storm is coming and investors need a financial ark to see them through Twitter What you need to know about passing the family cottage to the next generation U.S. Fed proposes new regulatory regime for foreign banks Rules could make life easier for some lenders, while tightening up rules for more risky foreign firms last_img read more