Internet-of-Things (IoT) is booming. The world is changing by the revolutionizing innovations of technology. IoT is an advanced technology that connects all the devices over the Internet while blockchain is a type of distributed ledger technology. Collectively they form a secure analytical environment. It offers umpteen number of opportunities for industries to process smarter operations. While, on the other hand, Blockchain provides a scalable and decentralized system to IoT tools, applications, and platforms. Major benefits of utilizing blockchain for IoT are the least risks of collusion and tampering, reduced settlement and cost for transactions.
The European Investment Bank plans to harness the power of blockchain to sell bonds, potentially boosting use of the digital-ledger technology as a tool for the region’s debt market.
The European Union’s investment arm hired Goldman Sachs Group Inc., Banco Santander SA and Societe Generale AG to explore a so-called digital bond in euros, which would be registered and settled using blockchain, according to information from a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it.
“I think we were past that point [of banning Bitcoin in the US] very early on because you’d have to shut down the internet,” Peirce said. “I don’t see how you could ban it. You could certainly make the effort. It would be very hard to stop people from doing it [trading Bitcoin],” she said. “So I think it would be a foolish thing for the government to try to do that.”
Though, as Peirce said, in reality this would be very difficult: technology will likely outpace the government’s attempts to limit Bitcoin use, since people will always be able to download Bitcoin wallet software, run a node, and make transactions as long as they have access to the internet. What may be more likely, in the short to medium term, are clearer Bitcoin regulations.
Investors should remember Bitcoin is a highly volatile asset. In fact, it has lost over half its value several times over the last decade. For instance, between December 2017 and December 2018, the price of a token fell more than 80% — and it’s possible (perhaps even likely) that a similar event will occur again.
However, for investors who can tolerate that type of risk and volatility, Bitcoin could be a rewarding long-term investment.
Here are three reasons Bitcoin could double your money (and more).
- Bitcoin is powered by blockchain
- Bitcoin benefits from scarcity
- Bitcoin is the most popular cryptocurrency
As digital artists onboard blockchain technologies in order to sell NFTs, we can expect to see a major shift in the video gaming industry as well.
Just four years ago, Jamie Dimon, the head of one of the world’s largest banks, JP Morgan, called bitcoin (BTC) a fraud. In the current year, JP Morgan’s top executives call for involvement in cryptocurrencies.
At the same time, their financial analysts project bitcoin to rise above $100,000 and supplant gold as a real asset hedging against inflation. Needless to say, the past year has been tremendous for bitcoin.
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.
- “Blockchain and cryptocurrencies are basically the same thing”
- “Blockchains can only be public”
- “Blockchain use cases are only aimed at the financial industry”
Let us consider an example. You pay a visit to a restaurant. You are paying the restaurant directly if you use cash. In case you use a credit or debit card, you are actually paying the institution that backs the card and then the institution pays the restaurant. Obviously, the institution deducts their fees. Contrary to this, if you are paying using cryptocurrencies, the payment is transferred directly over the blockchain network. The member of the network performs the verification process on transactions as opposed to the third-party institutions.
DeFi refers to the fast-growing area of automated, blockchain-based trading and lending platforms that might eventually pose a challenge to banks, Wall Street firms and insurance companies. But not now, says the bank.
“Credit creation is one of the key motors of modern finance. As yet, DeFi doesn’t do anything like this,” the report states.
The Bank of America view is very different from last month’s prediction by JPMorgan Chase, the biggest U.S. bank, that rapid advances in digital assets could present an existential threat to traditional financial companies.
Web 2.0’s downfall is exactly this. The platforms, at least the big ones like Facebook and Google, survive off the ownership of your information. They are free to use, so they need to make money somewhere. And they would be nothing without users like you: creating content for them, growing followers, searching for things, posting daily, these are all activities that give services the ammo they need to sell ads at alarming rates that generate even more alarming revenues.
But the web is changing. Web 3.0 is building on the flaws of Web 2.0, and it promises to create more personalized experiences, and redistribute wealth opportunities from the platforms, to the users. Blockchain protocols like PRIVI aim to bring Web 3.0 into the hands of everyone this year.