UBS<\/a> has issued a report that addresses the surge of cryptocurrencies and blockchain technology. The very name of the report is pretty telling \u2013 \u2018Cryptocurrencies \u2013 Beneath the bubble<\/a>\u2019. The Swiss-based global financial services company\u2019s analysts are unanimous in their verdict \u2013 the recent rise is nothing more than a \u201cspeculative bubble\u201d. However, the assessment is not as harsh as it might seem at a first glance.<\/p>\n

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:<\/p>\n

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.<\/p>\n

 <\/p><\/blockquote>\n

Shrewd investors should be focusing their attention on the tip of the spear of the blockchain tech \u2013 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.<\/p>\n

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.<\/p>\n","protected":false},"excerpt":{"rendered":"

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