Clock Ticking for Altcoins as Bitcoin Breaks $1.3 bln 24h Trade Volume

Clock Ticking for Altcoins as Bitcoin Breaks $1.3 bln 24h Trade Volume

    

As the 24-hour transaction volume of the top digital currency Bitcoin

reached a historical high of $1.3 bln this week, the days of altcoins that solve no substantial problem may soon be over – or tested to a point of failure. The rising Bitcoin price which seldom reflects negatively on most alternative currencies is going to tell on their success. For those who have noticed, the more Bitcoin rises, the lowermost altcoins go – even the super altcoins. This could be as a result of the established fact that one has to buy Bitcoin to get into altcoins and vice versa to opt out. Or it could be as a result of a reduced confidence in what some – if not most – of these altcoins have to offer. There are also words of some being scams and others being clones of another or serving the same purpose with another.

Time for altcoins show what they are worth

Whatever is the case of every altcoin, what they really stand for would be tested in due course unless the rise of Bitcoin gets stalled. Their existence could be affected negatively unless they evolve to be a true representation of their initial ideas and market more to show off their achievements. New ideas are popping up every day and some would definitely become obsolete. The thought that the market decides really needs to be given consideration now especially as there is a growing notion that an altcoin bubble is in the making and it could pop at some point. Bitcoin’s rise is setting a standard that altcoins need to rise up to so as to wax stronger as well.

Bitcoin’s superiority

The reality of each and every passing year that Bitcoin has survived without being crushed to the ground- some investors report huge returns on their investments along the way- is sinking into the minds of more people. The confidence level in the currency has risen and new users are coming into the cryptocurrency world. It’s truly decentralized nature also makes its extremely difficult for its protocol to be changed by anyone or some developers unlike it’s the case with some altcoins – a good side to the SegWit/scalability standoff. Now aiming for the $2,000 price tag, the Bitcoin scarcity factor seems to be kicking in and pushing for demands that increase its value – remember last year’s block reward halving. It throws a greater challenge to altcoins and their need to brace up for what could be coming.

Chuck Reynolds
Contributor
Please click either Link to Learn more about -Bitcoin.

Alan Zibluk Market Hive Founding Member

Japan to Roll Out Fixed Deposit Interest for Bitcoin

Japan to Roll Out Fixed Deposit Interest for Bitcoin

    

From one first to the next,

Japan will soon offer Bitcoin users fixed term deposits with interest. The Financial Services Agency has yet to push for regulation as it watches from the sidelines of what could seriously challenge the traditional banks fixed term deposits. Asian Nikkei reports that digital currency users and traders will soon be able to earn interest from the exchange. This fixed deposit interest accruing account is the first of its kind being made available in Japan.

Four fixed deposit options

Coincheck, founded by Koichiro Wada and Yusuke Otsuka has operated as an exchange since 2014 exchanging up to $160 mln worth of transactions per month. Its track record helps build credibility for clients interested in the interest accruing accounts that will be rolled out. The company will roll out four fixed deposit options. A 14-day option with a one percent annual interest accrual, 30-day option with a two percent annual accrual and a 90-day option with three annual percent interest. The longest time deposit and highest interest accrual will be for a 12 month fixed deposit netting five percent interest gain. This can prove a popular option as traditional banks in Japan moved their interest rates to 0.00 percent earlier this year.

Impact on demand for Bitcoin

Japan’s Financial Services Agency declared that the deposits are exempt from banking regulations as Bitcoin is not yet legal tender. There is speculation that they might change their stance on regulation if Bitcoin becomes a widespread method of payment. With multiple parties applying for exchange licenses to operate in Japan, it is likely that competing exchanges will offer the same value-added benefit to their customers. The scaling adoption of Bitcoin as a means of payment in physical stores drove up the price of the currency to record highs. If digital currency deposits succeed as fixed deposit accounts, there is no doubt that the demand will rise even further.

Chuck Reynolds
Contributor
Please click either Link to Learn more about -Bitcoin.

Alan Zibluk Market Hive Founding Member

Force Behind Ethereum Classic Price Wave: Community

Force Behind Ethereum Classic
Price Wave: Community

    

For over a month, Ethereum Classic price has surged

impressively to the admiration of community members who care to observe. The fallout of Ether rose from $1 to $7 and has now sunk into the $6 zone. It is overwhelming to notice ETC competing with fast-growing Dash over a position on CoinMarketCap. All indications point to a community that did not regret parting ways with its elder brother, Ethereum.

ETC's newfound strength

Cointelegraph decided to find out from the ETC community the secret behind the unprecedented rapid flourish it is experiencing. Carlo Vicari, a team member of the community, believes in their platform and

The community behind it:

"Our community is growing beyond compare, and we are euphoric with the enthusiasm from new community members as well."

When asked if ETC had reached its potential, he had this to say: "I don't think ETC has realized its full potential yet at all. I'm triumphal with how far the project has come but I'd say it's more like ETC is finding its footing with the enthusiasm from new community members as well as a stable foundation to jump off, not necessarily full potential."

Community expectation

On the issue of what Ethereum community members, especially holders, should expect in the coming months, the spokesperson of ETC explained he is not much of a price speculator and avoids statements like that since they can be taken out of context. "I'll say that I'm proud of the community and really excited about the future," Vicari says. He believes Blockchain technology is going to change the world in profound ways but the world is only just beginning to comprehend. Based on that, he thinks ETC will prove itself to be a major part of the Blockchain revolution, which has barely even started.

Pump and dump

One frequent speculation in this space is whenever an altcoin surges, there are accusations of pump and dump. This is so common it becomes difficult for some people to determine real growth from the deceptive ones. But Vicari says everyone who is part of the ETC community knows ETC is not a "pump and dump" altcoin. Furthermore, every project (even Bitcoin) is called a "pump and dump" or a "Ponzi" so his outfit really doesn't pay much attention to people throwing stones.

ETC vs. Dash

Again, Vicari, who also doubles as the community manager for IOHK, will not comment on who will win in the ongoing battle between ETC and Dash to take over the number six spot on CoinMarketCap. "You'll need to ask one of the traders about that," he responded. "I try not to think in terms of price or market cap." Indeed, the eagle has landed and Ethereum Classic is on fire. Obviously the fire cannot be quenched at the moment, but as usual, time will tell.

Chuck Reynolds
Contributor
Please click either Link to Learn more about -Bitcoin.

Alan Zibluk Market Hive Founding Member

Bitcoin Advocate Charlie Shrem Joins Multi-Platform Wallet Jaxx as Business Development Director

Bitcoin Advocate Charlie Shrem Joins Multi-Platform Wallet Jaxx as Business Development Director

    

Charlie Shrem, a founding member of Bitcoin Foundation,

has been announced as the business development director for Jaxx, a multi-coin, multi-platform cryptocurrency wallet. The unexpected onboarding might influence more users to migrate to Jaxx. It seems Shrem is on a roll now and one good thing follows another as he gains more influence – shortly after backing a Dash debit card, he is now putting his energy into the wallet side of digital currencies. Decentral, the company behind Jaxx’s wallet, states that Shrem will lead the company’s efforts as a director of business and community development.

Shrem told Cointelegraph:

“Right now, Jaxx is a multi-token wallet that works across all platforms and you only need one backup phrase. My goal is to increase this to over 30 tokens we support and the ability to trade fully between them within the app. Doing this removes reliance on exchanges which are unsafe, as we've seen. My role is creating and managing partnerships.”

Jaxx’s CEO Anthony Di Iorio and Shrem are known to have been close friends for years, although the news is still somewhat of a surprise to many. “I’ve always been attracted to Decentral’s mission to build the universal Blockchain interface for the masses. Jaxx is helping to advance the entire ecosystem by providing users with a simple way to control their digital assets,” Shrem said regarding the functionality of Jaxx.

Multi-functional future

Jaxx has been steadily gaining support and interest from influential leaders such as Erik Voorhees and has integrated the ShapeShift exchange into the wallet, making it an easily accessible platform for digital currency holders dealing with multiple currencies while keeping their assets off an exchange and on their own software wallet as an added benefit.

On Jaxx’s functionality, Shrem states:

“I’m convinced this multi-platform multi-asset command center will do for Blockchain technology what the browser once did for the Internet.”

With the exponential growth seen in altcoins over the past year, multi-functional wallets are clearly the way forward. Although similar options like Exodus exist, users might put their trust into a key figure such as Shrem.

Meaning business

In April, Shrem appeared at BlockShow Europe, giving an exclusive for Cointelegraph, where he explained how the

altcoin/Bitcoin pairs work:

“People are going to Dash, Ether, Ripple, but you are not seeing money exit the crypto. If you are looking at the market capitalization of all crypto for the last five years, you’ll notice that it is constantly up. It is super positive, Bitcoin is a reserve currency, you don’t see much USD to Dash trading pair, you see Dash/BTC, you see Steem/BTC, Bitcoin is like the reserve currency of all of these altcoins.”

Chuck Reynolds
Contributor
Please click either Link to Learn more about -Bitcoin.

Alan Zibluk Market Hive Founding Member

Bitcoin Is Good Long Term Investment: Major Silicon Valley Startup CEO

Bitcoin Is Good Long Term Investment: Major Silicon Valley Startup CEO

    

Fintech startup focuses on processing global bank transfers

Michael Dunworth, the CEO of Wyre, a fintech startup which focuses on processing global bank transfers, recently stated that financial advisors must consider Bitcoin as an asset class.

As described by Bitcoin developer Andrew DeSantis,

“Bitcoin is a decentralized timestamp and messaging protocol that when implemented and stable results in a value storage system.”

Thus, depending on the usage, Bitcoin can be used as digital gold, settlement network and digital cash or currency.

Safe haven asset

In China and other countries, institutional investors and high profile traders utilize Bitcoin as a safe haven asset and wealth management product (WMP). In terms of economic uncertainty and currency curbs, investors refer to Bitcoin to protect their wealth and assets. Such use case of Bitcoin was also emphasized by early Facebook investor and Golden State Warriors NBA team owner Chamath Palihapitiya when he stated:

“Reiterating my belief about Bitcoin. It's the ultimate insurance policy against autocracy, currency curbs and other forms of value destruction.” Dunworth, who recently secured a $5.8 mln Series A funding round led by Amphora Capital for Wyre, expressed his optimism toward Bitcoin urging financial advisors to consider the abovementioned qualities of Bitcoin and categorize Bitcoin as an asset class. Most importantly, Bitcoin is one of the few currencies or assets that are completely and solely dependent on the market, while most of the assets in the public market are directly affected by the performance of reserve currencies and the global economy.

Volatility

At the netwealth group study tour, a four-day fintech program attended by Australia-based financial advisers with a combined Funds Under Administration (FUA) of $14 bln,

Dunworth stated:

“There's a huge amount of technological growth that is yet to happen, with a very wide impact internationally. The scope for opportunity is huge…if someone told you back in 1991 that you could invest in this thing called 'the Internet', you would do it knowing what we all know now about it. We are at that same [early] stage with Bitcoin.”

Dunworth reaffirmed that while Bitcoin’s short-term volatility rate remains high, it still makes an excellent long-term investment for a wide range of clients and investors. “A lot of people say that Bitcoin is very volatile. It is in the short term but if I were doing fund management for my client, I see it as a very good long-term investment,” noted Dunworth.

The volatility rate of Bitcoin is a measurement of growth which doesn’t and can’t accurately depict the value of Bitcoin. Bitcoin has a fixed cap of supply established at 21 million. As long as the demand is sustained or continues to increase, Bitcoin price will also maintain an upward trend. Although many experts in the past did mention that the high volatility rate of Bitcoin is a negative component as a digital currency and technologically, Bitcoin is still in the early phase of development. As time passes, the volatility rate of Bitcoin will decrease as scaling solutions are implemented and the network is optimized.

Chuck Reynolds
Contributor
Please click either Link to Learn more about -Bitcoin.

Alan Zibluk Market Hive Founding Member

NEM Breaks Into Top 5 Altcoins, Passes Dash, Ethereum Classic

NEM Breaks Into Top 5 Altcoins, Passes Dash, Ethereum Classic

    

The multiple vertical applications Blockchain

In an unexpected move, NEM, the multiple vertical applications Blockchain, jumped two places up to become the fifth most valuable cryptocurrency. With a mountainous 78.10 percentage upsurge, it overtook Ethereum Classic and Dash to sell at $0.129600. NEM's Market Cap is now over $1.1 bln. NEM and Ethereum Classic in a couple of weeks have been fighting an epic battle over the number sixth position on CoinMarketCap for over two weeks now. It was a pendulum affair, as each one kept overtaking one another.

Overtaking ETC and Dash

However, to overtake Ethereum Classic and go ahead to dislodge Dash, the darling boy, is very surprising to many. This is an indication that NEM is being taken seriously by the global cryptocurrency and Blockchain community. In an interview with the Cointelegraph in February this year, NEM.io Foundation’s President Lon Wong stated that people are beginning to slowly see that NEM is moving along fine. He also mentioned that there is an establishment of a foundation (NEM.io Foundation Ltd) that is going to oversee the global development, promotion and marketing of the NEM Blockchain solutions to academia, governments and industries.

Meteoric rise

It will be recalled that, prior to moving into the top 10 on CoinMarketCap in early 2017, NEM and the Scottish Darling Boy, MaidSafeCoin were involved in an intensify battle over the tenth spot. But the moment it gained a foot in the top 10, NEM has not looked back. Cointelegraph is pretty sure NEM holders are laughing all the way to their various Crypto 'banks' to check how fat their balances have grown. To gain almost 80 percent in growth is impressive and refreshing for every outfit out there.

In the meantime, it is expected that the other two cryptos that were overtaken will not give up the chase, especially fast growing Dash. However, the gap between Dash and NEM is more than a colossal $4 mln. Well, if you have been in this space for some time, then you are beginning to realize anything can happen overnight. Concerning what has leapfrogged NEM to the fifth position, Cointelegraph will definitely reach out to the NEM.io Foundation to update you. At the moment, it is all merry making for NEM holders and the team.

Chuck Reynolds
Contributor
Please click either Link to Learn more about -Bitcoin.

Alan Zibluk Market Hive Founding Member

Litecoin, Silver to Bitcoin’s Gold, Now Aims at $50 Goal

Litecoin, Silver to Bitcoin’s Gold,
Now Aims at $50 Goal

    

Now that the Litecoin price is hovering at around $30

– as the Lightning Network, expected to make transactions faster on the network, is set to kick off in about two days – is it time for the digital currency, dubbed as the silver to Bitcoin’s gold, to aim for the $50 goal? As it stands, its market cap has crossed the $1 bln mark to join the three other major networks – Bitcoin, Ethereum and Ripple –

In the category.

"This is a huge plus for the currency which just got listed on top Korean cryptocurrency exchange, Bithumb. This comes in the wake of its addition on the Coinbase platform also last week."

If Litecoin succeeds with the SegWit activation and LN implementation – considering that Bitcoin has not been able to reach this far in terms of its scalability issue – it would definitely reflect in LTC price in the coming days. As such, wallet providers and other major users are expected to deploy SegWit-enabled apps.

"Litecoin’s Charlie Lee also confirms that Bitcoin Core developers have been working with his network on Confidential Transactions (CT) and Merkelized Abstract Syntax Trees (MAST)."

As it is expected to take the first mover advantage as one of the first to activate SegWit, all eyes would be on Litecoin and what it has to offer in terms of making transaction confirmation quicker. This will continue to be the case for as long as Litecoin serves as a relief to any transaction issues that are usually associated with Bitcoin. This will make it easier to send money from a point to another instantly and for less.

Upgrade important

The current issue of transaction delays on the Bitcoin network and rising transaction fees now seem stuck at the moment and some say it is no longer seen as an incentive to encourage new users to switch from fiat. Though not the first and only network to be working on activating SegWit, the upgrade is important for Litecoin because it is one of those networks with the oldest Blockchain beside Bitcoin. It also has an identical code to that of Bitcoin. However, despite the forward-looking consideration of how Litecoin is going to benefit users, we are yet to see it proven that people in the market really need what it has to offer. The debate on whether there is demand for its use continues.

Chuck Reynolds
Contributor
Please click either Link to Learn more about -Bitcoin.

Alan Zibluk Market Hive Founding Member

Ripple Overtakes Ethereum to Become Second Largest Crypto After Japanese Bank Consortium Formed

Ripple Overtakes Ethereum to Become Second Largest Crypto After Japanese Bank Consortium Formed

    

Rather unexpectedly, Ripple officially took over Ethereum

by $200 mln in market cap to become the world’s second largest cryptocurrency with a total market cap of $8.5 bln. Over a 24-hour period, Ripple price recorded a 71.6 percent increase, while Ethereum price decreased by 6.85 percent. Several cryptocurrencies including Ripple, NEM, and Stellar Lumens experienced inorganic short-term price growth in the last 24 hours, each gaining 71.6 percent, 53.4 percent and 94.81 percent daily gains respectively. Although Ripple has made significant progress in establishing strategic partnerships such as the recent addition of 10 new financial institutions including MUFG, BBVA, SEB, Akbank, Axis Bank, YES BANK, SBI Remit, Cambridge Global Payments, Star One Credit Union and eZforex.com, it is difficult to justify its 71 percent gain in such a short period of time.

Japanese Consortium announced

The latest partnership or initiative launched by Ripple was 11 days ago and no major exchanges or trading platforms globally have integrated support for Ripple trading in the past few weeks. Thus, to be critical, a 71 percent increase in Ripple price seems fairly inorganic. The only driving factor that could explain Ripple’s latest price surge is the establishment of a collaborative project amongst banks in the Japanese Consortium for cross-border and domestic payments. According to its official introduction video, Ripple is powering the entire network with its Blockchain-based cross-border and cross-bank payment protocol.

Japan Bank Consortium stated:

“In order to address these emerging needs, banks have come together to launch the Japan Bank Consortium for cross-border and domestic payments which enable a flexible and efficient payment system. It is the world’s first case to implement Ripple solution in a cloud environment.”

With its partnership with Japan Bank Consortium and other leading banks and financial institutions in Europe such as BBVA, Ripple has solidified its position as the base Blockchain protocol for the global financial structure and industry.

What does it mean for Ethereum?

Ethereum has implemented a similar partnership-based strategy with the launch of the Enterprise Ethereum Alliance earlier this year. While it is still uncertain whether Ripple’s short-term growth will stabilize over the long run, Ethereum and Ripple are both utilizing the same strategy to appeal to large-scale conglomerates and banks. Although Ethereum has attracted the likes of JPMorgan, Ripple seems to have grasped the attention of multi-billion dollar banks and financial institutions.

Chuck Reynolds
Contributor
Please click either Link to Learn more about
-Bitcoin.

Alan Zibluk Market Hive Founding Member

Bitcoin? Ethereum? Ripple? Three Reasons to Consider Investing in Cryptocurrency

Bitcoin? Ethereum? Ripple?
Three Reasons to Consider Investing in Cryptocurrency

    

Bitcoin is beginning to seem like a viable currency,

especially since reaching the $2,000 mark. Major setbacks, such as the loss of $480 mln due to Mt. Gox’s neglectful management of Bitcoins, have caused the cryptocurrency to plummet in the past. Slowly but surely, the first-ever Blockchain currency has climbed back.

Presently, Bitcoin is performing better than it ever has. Early in 2017, Bitcoin price hit historic highs, surpassing the value of gold. Nearly a decade after Bitcoin’s quiet release, dozens of copycat currencies have arisen. Utilizing Blockchain, a public database or ledger that records transactions involving encrypted keys, developers are vying to improve the original digital currency. A few, namely Ripple and Ethereum, have proved to be exceptional competitors. Indeed, the Ethereum Enterprise Alliance was formed by “Fortune 500 enterprises, startups, academics, and technology vendors” to establish standard practices for the use of the platform/currency hybrid

“at the speed of business.”

You may shy away from joining speculators on the ups and downs of the cryptocurrency markets. However, there are a few strong cases for investment.

Here are three reasons to consider investing in cryptocurrency:

Bitcoin is experiencing massive growth

By far the most popular digital currency is the progenitor of Blockchain technology. Bitcoin owns the lion’s share of the emerging market. Its trading volume is much larger than any other competing currency and its valuation is many times more than the second cryptocurrency of choice, Ethereum. Wider adoption and regular mainstream coverage have elevated Bitcoin from an intriguing security experiment to a possible real-world asset. Additionally, Bitcoin’s exponential growth may portend good things for Blockchain currency in general. After a few major cases of theft for both Bitcoin and Ethereum, trust in the currency seems to be rebounding. Some believe the cryptocurrency is a bubble about to burst, but contentious political and economic conditions could push the price up even further.

Ethereum is gaining traction

Ethereum is the silver to Bitcoin’s gold.

Although it currently sits at under $100 a unit, it’s the most viable alternative to the dominant cryptocurrency. In fact, the competing form of cash was crafted by one of Bitcoin’s co-founders.

Ethereum is both a platform that allows for the creation of decentralized applications and a currency. The currency, Ether, fuels the platform. Its incorporation of smart contracts, which allow for anonymous agreements on the Blockchain, spawned the DAO (decentralized autonomous organization). The currency is more flexible for developers and has attracted major tech players, such as Intel and Microsoft.

It may see friendly regulation

The anonymity and lack of oversight concomitant with decentralized currency create opportunities for abuse. Certain alternative cryptocurrencies (altcoins), ones that enforce private transactions and anonymous transfers, such as Zcash and Monero, have been used extensively by criminal organizations. Although altcoins like Monero have increased in value due to acceptance from darknet users, this illicit usage of cryptocurrency has dealt damage to overall adoption rates.

Thankfully, we may see tighter regulations. Ethereum famously experienced a massive theft of $53 mln in Ether due to an exploit in a smart contract. Theoretically, the Ethereum Blockchain is immutable. The community voted to override this “immutability” in order to return stolen funds. Further, in 2013, a representative for the Bitcoin Foundation told US regulators that they would be open to transparent rulemaking. According to MarketWatch, digital currency advocates are pushing for

more regulation.

With recent interests from Japan and Russia to legitimize Bitcoin, these rules and regulations could help further cryptocurrency as a legitimate finance asset.

Diversify

Blockchain technology has the capability to change everything. The currencies running on the distributed ledger model could revolutionize how we interact with all forms of liquidity. While it is unlikely that fiat currency will be subsumed or overtaken by the digital mint, it’s quite possible that these currencies will see greater integration with our current systems.

At the very least, cryptocurrency is seeing a meteoric rise in the short-term. What the future holds for digital currency is uncertain. Currently, there is a cautious sort of endorsement for Bitcoin and Ethereum. Some speculators are pouring their cash into speedier alternatives, such as Litecoin and Dash. Still, most remain hesitant about moving their assets into an unbacked,

unregulated currency.

Although the Bitcoin ETF was recently shot down by the SEC, there is still plenty of reason to diversify your portfolio with a small investment in decentralized digital currency. As time has worn on, cryptocurrency has steadily risen in price and has experienced wider adoption.

To be sure, there has also been a great deal of volatility concomitant with Bitcoin’s rise. Valuation specialists continue to have trouble pinpointing the exact value of the currency itself and sentiment can vary wildly. Still, market capitalizations continue to grow. If you are able to steel yourself against booms and busts, you may profit from cautious investment. Continue to do your due diligence. If you remain uncertain, consider consulting a financial analyst. Remember to monitor updates, vigilantly investigating changes in sentiment. As always, be prepared to lose any amount you put into a speculative investment. Dedicating yourself to mindful investing will undoubtedly lead to the best result – especially in a market as volatile as the cryptocurrency market.

Chuck Reynolds
Contributor
Please click either Link to Learn more about – Bitcoin.

Alan Zibluk Market Hive Founding Member

This Might Be The Key Reason Behind Bitcoin, Altcoin Price Surge

This Might Be The Key Reason Behind Bitcoin, Altcoin Price Surge

    

The first two-quarters of the year 2017

have seen the crypto industry experience a massive growth in awareness and adoption. From a perspective of economics, the high demand for Blockchain products, whether for preliminary investigations or systematic adoption has automatically generated an influx of capital which consequently reflects the value of the tokens of these Blockchains. The growing Blockchain partnerships offers an explanation for the significant increase in market capitalization of various cryptocurrencies and the consequent surge in Bitcoin price and several top altcoins.

Partnership is key to adoption

One of the major ways being observed for the enhancement and adoption of the Blockchain technology is through partnerships with existing conventional companies. Recently, Ripple experienced a significant surge in value and market capitalization. This is perceived to be as a result of the establishment of a collaborative project amongst banks in the Japanese Consortium for cross-border and domestic payments. Another example of partnerships that have significantly impacted on the market capitalization and overall value of the Blockchain technology is the implementation of a partnership-based strategy by Ethereum with the launch of the Enterprise Ethereum Alliance earlier this year. A partnership which attracts large-scale conglomerates like JPMorgan.

Another emerging collaboration

With several more partnerships expected, PwC Greater China Chairman, Raymund Chao believes that such partnerships are essential for robust execution in the present day business environment.

Chao says:

“Embracing advanced technology for growth becomes the top priority for many business sectors. Innovative applications and solutions could improve the effectiveness of supply chain, brand reputation, and even customer experience.”

Chao’s comment comes in the event of yet another partnership within the Blockchain industry. A partnership that sees business solutions company, PwC make its first Blockchain investment by adopting BitSE’s VeChain, a Blockchain-based anti-counterfeit and supply chain company out of China, with the aim of accelerating Blockchain adoption in Hong Kong and Southeast Asia.

More partnerships to come

The impact of Blockchain adoption through partnerships by conventional entities has become very significant. As the industry grows and tending towards reasonable global adoption, more partnerships are expected. The direct consequence of such development is increased demand for the technology, which directly implies a surge in market capitalization and subsequent rise in the value of associated cryptocurrencies.

Chuck Reynolds
Contributor
Please click either Link to Learn more about – Bitcoin.

Alan Zibluk Market Hive Founding Member