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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/sbmin/public_html/wp-includes/functions.php on line 6114From government-backed cryptocurrency like ESTcoin, to Switzerland’s ‘Crypto Valley’, you can learn how those countries support blockchain technology for our special video report.
]]>As with the cryptocurrency itself – opinions are divided. Some believe that blockchain will revolutionize multiple industries, including logistics and supply chain management. Others are of the opinion that the technology is still too young to place any serious bets on it.
Hong Kong’s history as a rather lenient financial hub makes it an excellent candidate for the blockchain technology centre. Naturally, the most obvious implementation of blockchain is in finance, and Hong Kong officials have been investing into the technology, even going as far as developing their own digital currency. In contrast with neighbouring China, Hong Kong is a lot more lenient towards cryptocurrencies, which led to the most prominent Chinese exchanges moving there after the recent ban.
Hong Kong, however, is not the only financial hub embracing blockhcain and cryptocurrencies. Singapore seems to be just as dedicated in its pursuits of cryptocurrency opportunities. It’s a serious competitor, offering major tax breaks and government assistance to businesses.
Despite its spotty tech startup record, Hong Kong hopes to become the capital of the emerging cryptocurrency industry, solidifying its role as THE financial hub of the region.
]]>RIALTO.AI – a self-described “arbitrage, market making and prediction trading” platform – enables traders to directly profit from volatility. As the profits come from arbitrage, the bigger the differences between varying exchanges, the bigger the profit.
The underlying algorithms deigned by the team of signal processing experts, economists and data scientists detect the most insignificant price fluctuations that trigger chain trades involving multiple cryptocurrencies. This effectively means that the market is monitored 24/7, maximizing potential gains.
Another bonus is a dedicated trading AI, created by the team. This self-learning bot is meant to track transactions and specific addresses to predict major shifts in the market. This alone could make the platform extremely attractive to cryptotraders.
]]>It is difficult to underestimate the importance of such research in the face of alarming volatility that seems to be inseparable from the cryptocurrency markets. It might provide the solutions to the issues the industry is currently facing and establish the baseline for cryptoasset evaluation in the future.
The current market is ultimately unsustainable and incredibly volatile, so any attempt at serious scientific analysis is very welcome. The industry insight is provided by Beryl Li – CapchainX CEO.
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Despite the skepticism towards the surging and volatile cryptocurrencies, UBS is pretty optimistic regarding the broader issue of blockchain technology. Here is what the report has to say about this:
While we are doubtful whether cryptocurrencies will ever become a mainstream means of exchange, the underlying technology, blockchain, is likely to have a significant impact in industries ranging from finance to manufacturing, healthcare, and utilities. We estimate that blockchain could add as much as USD 300-400bn of economic value globally by 2027.
Shrewd investors should be focusing their attention on the tip of the spear of the blockchain tech – companies that enable its adoption and use the technology in interesting new ways. And, as the report states, the applications of said technology are almost limitless. While some industries stand to gain more from the integration, most of them will likely benefit from the tech.
Another important point of the paper is its prediction about the bright future of hardware manufacturers, whose products will be vital for blockchain network realization. The processing speeds vital for the technology will undoubtedly mean increased business for companies that produce the necessary hardware.
]]>Bitcoin and other cryptocurrencies might be best used for storing value, at least at the moment. It is also difficult to escape the notion that the value of these assets has not yet peaked and will continue to go up in the foreseeable future. While this is not entirely unreasonable, the more conservative financial institutions tend to agree that the current situation appears to be a bubble. This does not bode well for a lot of the cryptocurrencies out there which are likely to go out of existence in this scenario. Nonetheless, most investors should be able to mitigate the losses by spending some of the initial profits.
Another major reason is sheer inconvenience of cryptocurrency transactions at the moment. Simply put, there is no universal solution that would govern these interactions, which significantly hinders widespread spending.
Finally, we need to address the exorbitant costs associated with cryptocurrency trading. If you’re looking for any sort of standard or uniformity here – you’re in the wrong place. Expect to pay for every transaction, and most exchanges introduce their own rates. This is hardly a problem for those who hold on to their currency and simply sell it in large quantities once in a while. Any frequent trading, though, is almost out of the question due to these policies.
Good news is that things are starting to change, and a number of promising startups are seeking to simplify the process and enable cryptocurrency spending on a larger scale. Hopefully, that will indeed make the cryptocurrencies the money of the future.
]]>But what does the advent of cryptocurrency and blockchain technology mean for the future of marketing? Here is what we think the marketers should keep in mind.
A large part of the of the cryptocurrency’s appeal is a promise of anonymity. As privacy concerns grow among the consumers, it is not difficult to understand why a lot of them might turn to blockchain technology in an effort to reduce their digital imprint. This means one thing – the wealth of information we currently possess on users due to the platforms like Facebook willing to sell their data might be a thing of the past.
The information about the transactions has the potential to become completely anonymous, and that is a serious blow to marketers’ ability to study purchasing habits to determine customers’ preferences. The rise of new networks like Steem or SocialX means that there’s now an alternative to the established social behemoths, and while it might take a while for the general populace to catch on to this new world, dismissing it would be unwise.
This means two things:
Regardless of the impact of the cryptocurrencies on our current systems, we should be able to adapt to the future. It’s reasonable to assume that consumers will not wish to part with their data as easily as the platforms do now, not without a fair compensation. On the other hand – what could be a clearer indicator of interest in your brand than a consumer making a conscious decision to give up personal information?
]]>Until now, every major drop has been accompanied by high volumes, with low volumes leading to significant hikes. It’s not the best dynamic, as it shows that the supply overtakes the demand. We might be at a tipping point for the currency – something known as the “Last Point of Supply” or simply LPSY. This means one thing – the highest price point in this cycle has been reached, and we are looking at the downward trend in the nearest future. The demand has pretty much been exhausted at this point.
This does not mean that the Bitcoin value will plummet, but we should be prepared to see the lower end of the trading range. There should be enough momentum to stabilize the prices and check the price drops, however, passing the LPSY means the prices are on the way down.
]]>Singapore
Switzerland
Russia
Estonia
Gibraltar
From government-backed cryptocurrency like ESTcoin, to Switzerland’s ‘Crypto Valley’, you can learn how those countries support blockchain technology for our special video report.
]]>Financial education recourse focused on investment featured Bitcoin at the top of their annual Top Financial Terms list. It’s also important to note just how prevalent the cryptocurrency has been this year, as Bitcoin is far from the only cryptocurrency-related term on the list.
The technology behind the new trend – blockchain – is a close second. A predictable development, considering that even a lot of more conservative investors that shun cryptocurrencies as a speculative bubble are fully on board with the tech that powers it.
Another crypto-term on the list is ICO or Initial Coin Offering. Despite the fact that quite a few of the ICOs do not actually sell out, it is impossible to underestimate the impact of those that do. And this has not gone unnoticed in the investment circles.
This is the gold rush of our time, and Bitcoin comes both with the positives and the negatives of its infamous counterpart. No matter what you think about it, ignoring cryptocurrency is not a wise move.
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