CRANE members Hrvoje Prpić and Ivan Crnković have invested in the Slovenian X8 FinTech

We have already heard about the crypto currencies, however, different stories about their early investors being considerably wealthy nowadays can be heard. The crypto currencies are not just a place of investment; they are establishing a whole eco-system of startups that are setting the foundations for a future digital economy. This future was also recognized by the members of the Croatian Business Angels Network (CRANE) – Hrvoje Prpić and Ivan Crnković, who invested a total of 10,000 € in the new Slovenian startup X8 FinTech.

X8 addresses the often-mentioned problem of high volatility of crypto currencies. For example, Bitcoin, as the most famous crypto currency, has risen from $300 to $3,000 in just a year, and just two weeks later – fell to $2,500. X8 FinTech has set the goal of creating a crypto currency with a strong stability, where the X8 currency or coin will be managed by the ARM AI artificial intelligence system that will allocate the capital between the eight main currencies and gold bullion in real-time.

Currently, the most popular crypto currencies are Bitcoin, Ethereum and Litecoin. However there are thousands of different crypto currencies on the market, which means that the X8 token or coin will be just another one among them. Bitcoin operates on the principle of “block chains” and since it was the first crypto currency, it holds lead in the market. The shortcoming of Bitcoin (BTC) is handling a small amount of transactions at a time (20 transactions per second), which makes the system relatively slow. Ethereum has a wider range of users and a more advanced scripting language, but it is usually used as a means of payment rather than a currency for startup investments, that is, as an “initial coin offer” or an ICO that replaces the more well-known IPOs. Litecoin aims to replace Bitcoin in the payment system and is currently the fastest one with the lowest transaction fee among the major currencies. There are also specialized crypto currencies that are up to 100 times faster than the fastest system in the world – VISA cards.

Since we are already talking about crypto currencies, we should mention that the only certified exchange office in the EU is BitStamp in Luxembourg. Bitstamp was founded in our neighboring country of Slovenia, as well as X8 FinTech. BitStamp started its work in Ljubljana, where it still has several offices. The registration process for this exchange is somewhat more demanding than at other exchanges dealing solely with crypto currencies and not with euros or dollars. On the other hand, BitStamp is under EU regulations, which makes it much safer than other stock exchanges. High security is also indicated by the fact that more than 95% of BTC’s is kept offline.

“In the future, crypto currencies will strongly impact the economy due to their security and anti-money laundering factor. I believe that Litecoin will surpass Bitcoin and become the currency of the future, while Etherium will replace stock exchanges, and Bitcoin will become the ‘new gold’ “, said Hrvoje Prpić, member of CRANE’s Management Board.