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Powered by its native PlayWallet and PlayXchange, PlayChip aims to develop a fully-integrated blockchain-based platform for global fantasy sports, online sports betting and gaming. Built on the Ethereum blockchain, PlayChip is designing a universal payment and reward system for gaming and wagering. The Company also plans to decentralize its existing partner platforms and allow sports fans to connect, compete and collect rewards, irrespective of their location.

Powered by Ethereum blockchain technology and artificial intelligence, Agate offers a comprehensive set of decentralized blockchain and crypto infrastructure modules to facilitate crypto payments and merchant transactions through its decentralized platform. It also handles everyday banking. The Company aims to address the typical challenges of volatility and other uncertainties of crypto payment solutions.

Recent Optimism about Commodities Goes Too Far. We have noticed a growing optimism about the near-term path of many commodities prices. A recent example is Goldman Sachs, which cites an overvalued dollar, a more dovish Fed, Chinese stimulus, and tightening oil supplies as favoring commodities in 2019. We are not unsympathetic to their view, and we have recently written that oil and precious metals, in particular, enjoy short-term upside. We also agree that the dollar is overvalued (Figure 1 shows the BIS estimate of the real broad dollar exchange rate which controls for inflation) which, if it corrects, will boost many commodities prices. We also think that slowing global growth is likely to benefit the short-term prospects for many precious metals.

February 2019 audit of Veritaseum holdings of precious metals inventory and holdings on befalf of its customers.

Rising Rig Counts Do Not Predict Changes to Crude Oil Prices. Since December 2018, both crude oil prices and the number of active rigs as reported by Baker Hughes have risen. It is well known that these variables are highly correlated with each other so their recent co-movement is not surprising. Little research, however, tries to untangle the less obvious causal relationships between these variables and the little that we have seen yields mixed results. We thus set up our own model to see if news about rig counts is helpful for forecasting oil prices. We find that it is not. Rig counts predict neither oil prices nor economic growth, and a forecaster can safely ignore them.