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Where Does Blockchain Go from Here?

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If cryptocurrencies are one of the most popular topics in the world of finances, then blockchain is just as popular in the world of technology. Of course, the two tend to come as parts of the same package, but the blockchain technology goes far beyond simply supporting cryptocurrencies.

Over the years, developers have been shifting their focus from crypto and towards blockchain, discovering new use cases, and increasing the technology’s importance in the eyes of the world. However, similarly to crypto, the full potential of this tech is still largely unknown, which often sparks new predictions, assumptions, and speculation.

Fintech media company ChainDD recently invited numerous industry leaders to an online interactive program named “Who is the prophet?” in order to have them present their thoughts on the topic of blockchain and crypto. Industry leaders spoke to the crypto community, they managed to present evidence to back their past or current crypto/blockchain theories, and they went through a wide range of topics and expectations.

As a result, the world got to hear some of the predictions regarding these technologies and the potential turns they might take in 2019.

Blockchain predictions for 2019

The founder of LD Capital, Lihua Yi, stated that the blockchain technology would likely be much more active in 2019 than it was in late 2018. He expects that professional funds will improve, while the ones that do not perform will end up being eliminated. Furthermore, he sees the number of formed funds going down by 90%. However, he believes that the same will happen to crypto media outlets, with only about 20 of them surviving.

Then, there is Rui Guo, Ultrain’s co-founder, who stated that a number of new market segments are going to merge within the blockchain industry. He also predicts that some of them might be a traditional public chain, while others will be commercial. In the end, Guo predicts that two or three of them will likely solve the decentralization and scalability issues. Finally, he believes that public blockchain will probably be adopted in numerous industries, such as healthcare, gaming, retail, financial industry, energy, logistics, and alike.

VeChain’s founder, Sunny Lu, also predicted blockchain development, but Lu focused on the long-term, stating that the large scale adoption of blockchain is inevitable in the following decade. Not only will it come, according to Lu, but it will be used in pretty much every aspect of our lives. He also sees blockchain getting more and more in line with relevant regulations as the adoption and development continue.

Chu Shuai, the founder of QTUM, decided to take a more conservative approach, stating that 2019 is still too early for the mass adoption of this technology. He expects to hear about several breakthroughs before the year ends, although large-scale commercialization is unlikely to happen for at least three to five years. Regarding cryptocurrencies, he hopes to see the industry grow back to $200 billion, while the price of Bitcoin is expected to be anywhere between $4,500 and $5,000 at that point.

Zheng Ren, the partner at Consensus Lab, believes that blockchain investments will “choose paths,” as he put it. Around 80% of the token funds are going to disappear, he claims, while the surviving ones will be professional investment institutions. As for Bitcoin, he believes that it will continue its fluctuations between $3,000 and $6,000, while the popular dApps will be thriving. Also, he believes that more countries will try to come up with regulations and enforce them in order to establish STOs along the way.

Finally, there is Mei Luo, Tsinghua University School of Economics and Management’s Ph.D. Supervisor. Luo claims that 2019 will be more of a year dedicated to academic research of the crypto space, while 2020 will be the year of presenting the results of the research. She also expects to see new crypto-related courses in business schools, particularly in Asia and the US. As for Bitcoin price, Lua’s thoughts are similar to those of Zheng Ren, meaning that BTC will likely remain volatile, going up and down between $3,000 and $6,000.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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