![]() Recognizing these problems are what make blockchain systems such as Ethereum inefficient and costly to deploy, a team of developers has invented a radically new way of looking at blockchain with the Arcology ecosystem.Ĭodebase Ventures Inc. While the idea of using a blockchain-powered network for business transactions excites industry participants, offering a glimpse into the “economy of the future,” the technology itself remains unproven in the real world.Įven with years of development and billions in funding, the current market leaders are still unable to compete with yesterday’s technology.įor blockchain to fulfill its many promises, we must solve some of the key problems faced with decentralized platforms such as speed, scalability and security. Gartner estimates that blockchain will generate as much as US$3.1 trillion in new business value by 2030, but the technology is already set for more mainstream adoption as early as 2023. New analysis from PwC showed that blockchain technologies could boost the global economy by US$1.76 trillion over the next decade through raising levels of tracking, tracing and trust. Over recent years, there has been enormous interest in the technology and its potential to upend countless industries, from fintech and real estate to gaming and social networking.Ĭorporations like IBM are already making big bets on blockchain, placing confidence in the technology’s potential value in areas such as financial services, shipping and healthcare. In theory, by changing how we view and handle “money”, blockchain technology could revolutionize the global economy in many ways. Simply put, blockchain offers enhanced security and greater transparency, making it the ideal network for financial transactions hence, the birth of cryptocurrency. This means a blockchain is resistant to modification of its data, because the data in any given block cannot be altered retroactively without modifying all subsequent blocks. The rise of cryptocurrencies has made blockchain a household name.īy definition, a blockchain is defined as “a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks used to record transactions across many computers.” The long-term viability of bitcoin et al., however, is largely connected with the technology behind the crypto mania: blockchain. Its rival Ethereum enjoyed an even bigger gain, up nearly 160% year-to-date. With digital currencies led by bitcoin en route to mainstream adoption, market interest from both retail and institutional investors has skyrocketed, driving the total value of cryptocurrencies past the trillion-dollar mark.īitcoin, which has taken the finance industry by storm, saw an 80% gain since the new year. One analyst from RBC specifically mentioned Apple, stating that it would be a “no-brainer” for the iPhone maker to develop its Apple Wallet into an exchange similar to Coinbase. Many believe this move by Tesla could open the floodgates for other big firms to join the foray into the crypto market. The electric vehicle maker also said it will start accepting payments in bitcoin in exchange for its products, making it the first major automaker to do so. And that interest pays.2021 could be the year that cryptocurrency finally hits the big leagues in the global financial landscape.Įarlier this month, Tesla announced it bought $1.5 billion worth of bitcoin for “more flexibility to further diversify and maximize returns on our cash,” according to CEO Elon Musk. These days, it seems, all a company needs to do is say they’re getting involved in blockchain, and it’s enough to get people interested. The result? You guessed it, another huge jump in stock.Įverybody wants in on this ground-breaking technology. (TSX-V:$XAU) will be offering clients the ability to trade bitcoin and ether and to store the assets in auditable and insured vaults. (NASDAQ:$OSTK) has launched a Securities and Exchange Commission-compliant digital tokens exchange, causing a similar stock soar. (OTC:$BKLLF), formerly 360 Capital Financial, saw its stock go up 300% when it announced its plans to focus investments solely on blockchain-related companies. ![]() Formerly Bioptix Inc., Riot Blockchain has brought its stock up more than double by investing in cryptocurrency-related businesses, such as audit and accounting firm Verady LLC and blockchain-based payments provider Tess Inc.ģ60 Blockchain Inc. The most recent company to benefit from this thinking is Riot Blockchain, Inc.
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