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7M Americans Own BTC But Hold None In Retirement Accounts
Bitcoin, Τεχνική Ανάλυση
27/08/2020
19

Over 7M Americans Own BTC But Hold None In Retirement Accounts

Millions of U.S. citizens own both Bitcoin and a retirement account, but hold no Bitcoin in that retirement account.

Ryan Radloff, CEO of custody solution Kingdom Trust, recently explained a vast number of Americans do not hold Bitcoin (BTC) in their retirement accounts.

“There’s 7.1 million Americans that have already made the leap to buy Bitcoin or take the dive into our industry so to speak, and have a retirement account, but don’t have Bitcoin in their retirement account,” Radloff told Morgan Creek Digital co-founder Anthony Pompliano in a July 18 interview.

People have more to spend on Bitcoin in their retirement accounts

Retirement accounts allow the public to put money into a long-term investment fund, with the stipulation of only taking money from that account after a certain time period — usually totalling decades, depending on the participants age. Such a format comes with significant tax breaks and incentives.

Various solutions exist as gateways for Bitcoin retirement account purchases and investing, including an option from Kingdom Trust. According to Radloff, people have available capital in their retirement accounts for BTC, but have not pulled the trigger on buying.

“If you also look at people’s investible, discretionary money, they usually have three to four times more investible discretionary money in their retirement accounts than they do in their non-retirement accounts,” Radloff said.

Bitcoin means potential in retirement accounts

Bitcoin spells opportunity at present, given the number of people in the industry, matched with retirement account usage, Radloff noted.

He said:

“When I say this is the biggest opportunity for Bitcoin, especially in this kind of stock-to-flow model that we look at, I’m looking at 7.1 million Bitcoiners that have three times more investible money in their retirement accounts that aren’t using their retirement accounts to HODL.”

Mentioning the trillions of dollars at play in the retirement market, Radloff also noted a lack of workable structure around crypto and blockchain companies offering 401k options to their employees.

Radloff’s comment on opportunity comes with reference to Bitcoin’s stock-to-flow ratio, made by crypto Twitter analyst PlanB. The model essentially explains Bitcoin’s inevitable rising price due to its decreasing mining reward payout and limited maximum supply.

Source: https://cointelegraph.com/news/over-7m-americans-own-btc-but-hold-none-in-retirement-accounts

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Over 2,500 Austrian Merchants Can Now Accept Cryptocurrency Payments
Altcoins, Bitcoin, Multimedia
12/08/2020
17

Over 2,500 Austrian Merchants Can Now Accept Cryptocurrency Payments

More than 2,500 merchants in Austria can accept three types of cryptocurrencies via the payment processor Salamantex. The company explained that the system was tested with a number of select A1 5Gi network shops.

Since the Covid-19 outbreak, contactless payments have been trending more so than they ever were before. There are a number of traditional services that remove cash from the equation, but cryptocurrencies also provide the same ends except the means are decentralized.

This week the Austrian payment processor Salamantex announced that 2,500 merchants in the country will be able to support three different crypto assets via the system. The three supported assets include ethereum (ETH) dash (DASH) and bitcoin (BTC).

“Owners of [cryptocurrencies like] bitcoin and dash can be excited. From this summer on, they can spend their coins at more than 2,500 merchants using [the] A1 Payment service – provided the merchant has activated the feature,” Salamantex wrote.

The Salamantex team also mentioned how Austrians really like cash, but Covid-19 has changed that trend a great deal. Before the coronavirus outbreak, Austrians were extremely proud of cash and this was reflected in a large poll during the parliamentary election in late September 2019. One young Austrian woman interviewed during the poll said she liked cash because “you don’t leave a trace.”

“Although Austria is traditionally a country with a high affinity for cash, the last few months have led to a mind shift after people were called upon by the government and retailers to primarily switch to cashless payment transactions as far as possible,” the Salamantex announcement detailed. The company added:

With the integration of the Salamantex service software into the complete A1 payment package, Austrian retailers can now offer another payment option and thereby accept common cryptocurrencies.

Crypto assets have seen wider adoption in recent weeks, as news.Bitcoin.com recently reported on the Australia Post providing bitcoin (BTC) purchases via Bitcoin.com.au. Further, Centrapay revealed 2,000 Coca-Cola brand vending machines in Australia and New Zealand that now support BTC payments

Salamantex COO, Markus Pejacsevich is trying to usher in the same type of crypto payment adoption in Austria.

“Our goal is to make paying with digital currencies at the checkout as easy and natural as we have been used to with credit cards for decades,” Pejacsevich said. “The acceptance of cryptocurrencies opens up new affluent customer groups and enables merchants to position themselves as pioneers in their industry.”

Source: https://news.bitcoin.com/over-2500-austrian-merchants-can-now-accept-cryptocurrency-payments/

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How blockchain technology can change medicine
Blockchain
05/08/2020
16

How blockchain technology can change medicine

Although the best-known use of blockchain technology (BCT) is in the field of economics and cryptocurrencies in general, its usefulness is extending to other fields, including the biomedical field. The purpose of this article is to clarify the role that BCT can play in the field of medicine. We have performed a narrative review of the literature on BCT in general and on medicine in particular. The great advantage of BCT in the health arena is that it allows development of a stable and secure data set with which users can interact through transactions of various types. This environment allows the entry and operation of clinical data without compromising other sensitive data. Another important advantage of BCT is that the entire network is decentralized and is maintained by the users themselves; thus, there is no need to rely on organizations for storage. The Blockchain code is open source and can be used, modified and revised by its users. BCT literature is scarce so far. This article describes the basics of this technology and summarizes the various aspects in which BCT could change the paradigm of current medicine. The great potential of BCT, as well as its many applications in the field of health sciences, encompasses the fields of legal medicine, research, electronic medical records, medical data analysis (big data), teaching and the regulation of payment for medical services. If technological advances continue along these lines, it could bring about a revolution in medicine as we know it.

Source: https://www.tandfonline.com/doi/abs/10.1080/00325481.2018.1472996

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Partnership to fight COVID-19 medication counterfeiting and advance blockchain solutions
Blockchain, Multimedia
03/08/2020
24

Partnership to fight COVID-19 medication counterfeiting and advance blockchain solutions

The alliance between Chronicled and Deloitte intends to enhance security and efficiency in the pharma supply chain by bring to market new blockchain-powered solutions.

Chronicled and Deloitte announced that they have formed an alliance to bring blockchain-powered solutions to the life sciences and healthcare industry. The partnership aims to leverage technology to provide interoperability, security and efficiency to processes involving companies in revenue management and the pharmaceutical supply chain.

The alliance also includes a solution to help combat counterfeits and fraud in the medication used for the treatment of COVID-19, an issue that has increased dramatically since the start of the pandemic. According to the enterprises, the product verification capabilities of Chronicled’s MediLedger Network, a blockchain-enabled network for the life sciences industry, could enable pharmacies and hospitals to authenticate high risk or suspect products. It works through a barcode scan that validates product data against the original manufacturer’s data.

The companies stated the network already enables verification by pharmaceutical wholesalers for moe than 95 percent of drugs being re-sold in the US.

“Chronicled has the potential to radically reshape the way product is tracked and managed within the health care ecosystem,” said David Carlson, managing director, Deloitte Consulting LLP and leader for the Chronicled relationship. “As the life sciences industry moves quickly to get innovative therapies to market during this critical time, stakeholders are looking for solutions that enhance pricing transparency while creating an efficient mechanism to exchange product use and financial information. Chronicled is an important player in the effort to better collaborate across the value chain and Deloitte is well positioned to drive large scale industry transformation.”

In addition to product verification, Chronicled also said it plans to launch a second solution called Contracts & Chargebacks. This feature is designed to eliminate disputes, improving cash flow and identify revenue leakage in the chargeback process between manufacturers, distributors and group purchasing organisations. The system will help companies transact and share data with each other and avoid delays, inaccuracies, poor customer service and lost revenue, said the enterprises.

Susanne Somerville, Chief Executive Officer of Chronicled concluded: “Combining Chronicled’s innovative product verification and contracts and chargebacks solutions and Deloitte’s deep experience with implementation and the complexities of these business processes, we have the ability to create tremendous value for the industry and the world.”

Source: https://www.europeanpharmaceuticalreview.com/news/124071/partnership-to-fight-covid-19-medication-counterfeiting-and-advance-blockchain-solutions/

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China’s central bank issues evaluation rules for application of blockchain in financial industry
Blockchain, Multimedia
27/07/2020
19

China’s central bank issues evaluation rules for application of blockchain in financial industry for the first time

The People’s Bank of China, the country’s central bank, has issued documents and evaluation rules regarding the application of blockchain in financial institutions including banks, security companies and insurance firms, according to media reports. It is the first time the top authority has issued regulations for blockchain application.

The documents require financial institutions to evaluate blockchain technology on several fronts including technology, performance and security. Evaluations will judge whether or not the blockchain technological application system can ensure the safe and stable operations of relevant financial infrastructure in an objective and fair manner, the notice read.

The central bank requires financial institutions to set up and improve risk aversion mechanisms for blockchain application, and to conduct external safety assessments regularly to promote the application of blockchain technology in the financial industry. Financial institutions are also required to complete filing work for blockchain application.

It also urged industry associations to strengthen management in the application of blockchain technology, and to set up internal mechanisms for self-inspection and information sharing.

The rules issued by the central bank apply to banks, brokers, fund companies, futures companies, private investment funds, Union Pay and non-bank payment institutions.

A number of financial institutions including the Agricultural Bank of China and the Industrial and Commercial Bank of China have in the last two years been scaling up efforts to apply blockchain technology to their financial services.

Source: https://www.globaltimes.cn/content/1195278.shtml

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Kazakhstan Needs National Crypto to Fight Corruption
Altcoins, Bitcoin, Blockchain, Multimedia
24/07/2020
18

Kazakhstan Needs National Crypto to Fight Corruption, Says Local Official

Kazakhstan’s digital tenge has the potential to provide “full transparency in movement of budgetary funds,” chairman at local anti-corruption service says.

The Chairman of Kazakhstan’s anti-corruption service has called on the government to develop a national digital currency to fight corruption in the country.

Alik Shpekbayev, chairman of Anti-corruption Agency of the Republic of Kazakhstan, reportedly said that national digital currencies like China’s digital yuan should contribute to a more transparent financial system. The news was reported by local news agency Kazinform on July 21.

National digital currency is expected to cut cash transactions

According to the official, an implementation of the national digital currency should inevitably reduce transactions in cash, which is one of major tools for illicit activity like bribery. Kazakhstan’s digital tenge has a potential to prevent corruption at the governmental level as it will provide “full transparency in movement of budgetary funds during public procurement,” Shpekbayev added.

The official reportedly continued that the adoption of the national digital currency will allow to significantly reduce transaction costs. “As soon as the digital tenge is implemented successfully, we will be able to forget about transaction fees,” Shpekbayev reportedly argued.

Shpekbayev reportedly mentioned China’s ongoing digital currency pilot, warning the government officials that Kazakhstan is running the risk of being too late with its own national cryptocurrency.

Kazakhstan has been making steps towards crypto adoption

The latest news comes soon after Kazakhstan officials presented a plan of the national digital currency development in early July. Particularly, Kazakhstan is planning to double digital currency mining investment by the end of 2020 as well as to push the development of its central bank digital currency, or CBDC.

Kazakhstan, a post-Soviet country, has been paying some attention to crypto-related trends in recent years. The country is now apparently established as a major global mining hub due to low electricity prices. According to local reports, Kazakhstan aims to attract about $740 million in investment from crypto-related mining activities over the next three years.

The country has also been progressing with cryptocurrency regulation. As reported, Kazakhstan’s President Kassym-Jomart Tokayev signed a bill regulating cryptocurrencies in the country in late June 2020.

Source: https://cointelegraph.com/news/kazakhstan-needs-national-crypto-to-fight-corruption-says-local-official

 

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Use DeFi Contracts for BTC Passive Income by Andreaw Antonopoulos
Altcoins, Bitcoin, Multimedia, Τεχνική Ανάλυση
20/07/2020
18

Andreas Antonopoulos: Use DeFi Contracts for BTC Passive Income

HODLing Bitcoin may pay off eventually, but it means one’s money isn’t working for them now, says Andreas Antonopoulos.

Bitcoin educator Andreas Antonopoulos says there are risks behind any current method of earning steady income with one’s Bitcoin holdings, but DeFi offers one of the few ways to do so without “giving your money to other people.”

In a livestream Q&A on Antonopoulos’ YouTube channel on June 27, he said decentralized finance (DeFi) contracts were one way for Bitcoin (BTC) owners to generate passive income without relinquishing custody of their coins. “Passive income” refers to money earned using methods that require little-to-no effort.

According to Antonopoulos, investors could convert their BTC into Ethereum (ETH) or a stablecoin like Dai (DAI), then lend it out on a platform where the token can earn interest. However, he said carrying out such trades on Ethereum-based platforms was “quite risky” in terms of security, smart contracts with bugs, and the platform itself:

“Ethereum may have problems. It may have bugs. The consensus algorithm may have failures. You may have increases in the gas price, which leads to other cascade problems. And all of those things can cause you to lose some or all of your invested capital.”

Lending and borrowing crypto can be a risky bet due to the high volatility of digital currencies, with a large number of crypto-backed loans used for margin trading. However, the volume of these loans reached $8 billion last year, and may continue to attract investors.

Use DeFi Contracts for BTC Passive Income by Andreaw Antonopoulos

HODLing not the only way to earn

Though Antonopoulos mentioned other methods for getting investors’ coins to work for them, nearly every way to do so meant relying on a custodial exchange. The Bitcoin educator said such investments carried the risk of theft or mismanagement.

Bitcoin HODLers, on the other hand, do not earn dividends or interest on their investments — or anything — until they finally decide to cash out. Antonopoulos says HODLers hope for appreciation, but “what goes up, can come down.”

The Bitcoin educator says the same is true for crypto day traders: “You can pull your Bitcoin out and convert it, buy 1,000 altcoins, and then watch them crash by 98%.”

Antonopoulos not the only DeFi advocate

Others in the crypto community have commented on creating passive income through DeFi lending. Cointelegraph reported in March that OKEx Director of Financial Markets Lennix Lai said: “The combination of cryptocurrency and DeFi creates an alternative way for users to earn passive interest that was not possible before.”

Source: https://cointelegraph.com/news/andreas-antonopoulos-use-defi-contracts-for-btc-passive-income

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ROBERT KIYOSAKI: GOT GOLD, SILVER, AND BITCOIN
Altcoins, Bitcoin, Multimedia
16/07/2020
18

RICH DAD POOR DAD AUTHOR PROMOTES BITCOIN: “FEDERAL RESERVE IS DEAD”

There are many investors that are still hesitant to get involved with Bitcoin. They make comments like cryptocurrencies are hard to own, BTC is for criminals, and other sentiments along those lines.

Yet a prominent financial educator and entrepreneur says that owning Bitcoin, silver, and gold is a wise decision. Here’s why he thinks so.

ROBERT KIYOSAKI: GOT GOLD, SILVER, AND BITCOIN?

According to Robert “Rich Dad” Kiyosaki, an American entrepreneur and author, the “Federal Reserve is dead.”

He cited the increase in so-called “zombie companies” and their respective debts, purportedly at $900 billion. Kiyosaki writes that the debt “zombies” have will pass $1.6 trillion next year, putting risk on the Federal Reserve.

To combat this trend, alongside a potential debt crisis and money printing, Kiyosaki has effectively prescribed Bitcoin, silver, and gold. He has mentioned those assets to his over one million followers ad nauseam over recent months.

ROBERT KIYOSAKI: GOT GOLD, SILVER, AND BITCOIN

The “Rich Dad Poor Dad” author says that those assets are “real money” while the fiat money printed by Federal Reserve is “fake.”

Kiyosaki isn’t only bullish on Bitcoin in spirit — he has a price target for the cryptocurrency. He wrote in May that BTC could hit $75,000 in the next three years while the two precious metals also perform well.

GOLD’S BOOMING — BITCOIN MAY FOLLOW

Kiyosaki’s poignant comments on the economy and its relation to gold and Bitcoin comes as the precious metal has rallied.

As of the time of this article’s writing, gold trades for $1,770 — 15% higher than its price at the start of 2020. That’s also close to a new all-time high against the U.S. dollar, with the last one set after the 2018 recession.

Analysts expect this trend to continue moving forward.

CitiGroup was reported by Bloomberg to have raised its spot market forecast for gold prices, maintaining its “longstanding bullish bias.” Analysts at firms cited the “macro backdrop” of low-interest rates and “universal anxiety” about the pandemic.

Bitcoin has the chance to follow gold higher, especially in this macro environment. That’s according to some prominent analysts.

Paul Tudor Jones said in a research note titled “The Great Monetary Inflation” that Bitcoin is the “fastest horse in the race.” This was made in reference to the asset’s 21 million coin supply cap while other asset classes don’t have that benefit, even gold.

Jones is a billionaire hedge fund manager largely regarded to be one of the world’s best macro analysts.

Source: https://bitcoinist.com/rich-dad-poor-dad-author-continues-promote-bitcoin/

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Bitcoin and cryptocurrencies the perfect hedge in the Covid-19 crisis
Altcoins, Bitcoin, Multimedia, Τεχνική Ανάλυση
14/07/2020
18

Are Bitcoin and cryptocurrencies the perfect hedge in the Covid-19 crisis?

As the Covid-19 crisis continues to disrupt global markets, is it time to hedge Bitcoin, cryptocurrencies and other digital assets?

The economic effects of Covid-19 have sent investors in search of assets that can offer shelter during the storm and a hedge against macro events. Against a backdrop of shrinking GDP, economic slowdown, government bailouts, and fiscal stimulus aka money printing, bitcoin and cryptocurrencies have been touted as an inflation-resistant hedge.

Not beholden to the whims of any political leader or global superpower, crypto assets are defined by their fixed, knowable, and verifiable supply. They cannot be debased or flooded into the economy to prop up failing institutions, or used to enrich the 1% at the expense of the other 99. But are these qualities enough to make bitcoin and its sister assets capable of serving as a hedge? And if so, how can you increase your exposure to bitcoin while taking steps to mitigate any downside risk?

The case for investing in Bitcoin

The case for investing in bitcoin is the same as that of any asset: you believe that demand for it is likely to increase in the months and years to come, leading to a corresponding increase in price. This will enable you to sell the asset for more than you paid for it. But if this thesis holds true, what is it about bitcoin that’s likely to make its “number go up” as crypto traders jokingly refer to it?

There are many reasons why bitcoin is viewed as an attractive investment and hedge against traditional investments.

Renowned investor Paul Tudor Jones has called bitcoin “a great speculation,” and said it reminds him of gold in the 1970s. “Every day that goes by that Bitcoin survives, the trust in it will go up,” noted Jones, who now has around 2% of his wealth in bitcoin.

Former Goldman Sachs Fund Manager Raoul Pal, meanwhile, has moved 25% of his portfolio to Bitcoin following the Covid-19 crisis. Institutional interest in bitcoin is increasing and 80% of institutional investors now see the appeal of digital assets.

And then there’s the on-chain data that paints a rosy picture of bitcoin’s future, based on metrics such as holding patterns, transaction volume, and the amount of BTC withdrawn from exchanges for long-term storage. Respected bitcoin analyst Willy Woo estimates that BTC is less than a month away from embarking on its next bull run, based on market and on-chain data.

Finally, Bitcoin’s supply reduces over time because the number of new coins issued to miners is halved every four years. As a result, Bitcoin’s stock-to-flow, which denotes the number of years, at the current production rate, required to achieve the current supply, is increasing. Bitcoin’s stock-to-flow now stands at 50 (years), placing it close to gold.

The case for investing in other digital assets

Bitcoin isn’t the only cryptocurrency on the market of course. In fact there are thousands of digital assets, though only a handful of these warrant consideration as an investment and potential hedge. For example, if you believe that the future of finance lies in private transactions and fungible digital cash, you may see value in monero (XMR). If you believe that open finance enforced by smart contracts will be a major growth area, you may wish to invest in the Ethereum ecosystem.

The smaller the market capitalisation of the crypto asset you are investing in, the higher the risk is likely to be — but the higher the potential upside too. Thus, it is imperative that you understand the cryptocurrency you are considering, and its function within the blockchain network it powers.

For example, decentralised finance projects such as Compound and Balancer enable token-holders to earn yield for staking assets and providing liquidity. Yield-bearing crypto assets — in this case COMP and BAL — sound attractive, but they call for deep knowledge of how their respective protocols work, and are not for casual investors.

For investors seeking alpha within the crypto sector, there is no shortage of opportunities. Bear in mind, however, that crypto assets remain highly correlated to bitcoin, and are thus dependent in part on how it performs. When BTC is in a bull market, it typically pulls the rest of the market up with it, and vice-versa.

Bitcoin and cryptocurrencies the perfect hedge in the Covid-19 crisis

Where to buy Bitcoin

Buying bitcoin is a quick process these days, thanks to an array of consumer-friendly apps and websites that eliminate the complexity. Platforms like Skrill have soaked up a slice of the consumer buy-side action, enabling crypto to be bought with dozens of fiat currencies and deposit methods.

Skrill’s reputation as a trusted digital payment processor has aided its diversification into cryptocurrency, while the ability to place automated orders at particular price points enables buyers to enter the market if and when BTC reaches their desired price target.

While Skrill also allows BTC to be swapped for other cryptocurrencies such as bitcoin cash, EOS, ether, ethereum classic, and litecoin, investors seeking to actively trade digital assets should consider doing so on a dedicated exchange.

Many of the most popular exchanges, such as Binance and Coinbase have fiat on-ramps, allowing investors to purchase crypto using debit card or bank transfer, and then trade in and out of stablecoins and cryptos on the exchange.

No hedge is perfect

Bitcoin and other cryptos aren’t entirely disassociated from the broader financial market. In a cash crisis, for example, investors will sell off their most liquid assets and thus BTC may be one of the first candidates to be off-loaded.

What bitcoin does provide, however, is an investment option whose design, transparency, issuance, and transferability stand in stark contrast to the traditional financial system. Shrewd investors should consider allocating a portion of their portfolio to bitcoin, and then increasing it as BTC demonstrates its ability to serve as an economic hedge.

Source: https://www.information-age.com/bitcoin-cryptocurrencies-perfect-hedge-covid-19-crisis-123490086/

 

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Which industries will be most affected by blockchain technology
Blockchain, Multimedia
08/07/2020
18

Which industries will be most affected by blockchain technology over the next decade

Cryptocurrencies have brought a completely new approach to financial transactions that are performed in a totally new way, using different types of currencies and, above all, a new technology.

The blockchain technology on which the work of most cryptocurrencies is based is a revolutionary technology that’s constantly finding its application in various areas of human activity.

Although many tie blockchain exclusively to cryptocurrencies, the application of new technologies already has and will have far-reaching consequences in the future. Even though the blockchain was created primarily to support the work of Bitcoin, it’s likely that its creators, i.e. Satoshi Nakamoto, had no idea where all this would lead.

A New Dimension to the Traditional Way of Doing Business

Some predictions suggest that blockchain technology will affect several different business areas and completely reform them over the next decade. Many industries will change their ways of doing business and start functioning in a way that has no similarities with the way they used to operate.

It’s needless to say that there’s a bundle of crypto exchanges and trading platforms. Some are less popular and secure than others but you have plenty of options to buy, store, and trade Bitcoin, Ethereum, and other cryptocurrencies. These platforms have charts, such as Ripple XRP chart, and indexes for trading cryptocurrencies to FIAT currencies.

With the adoption of new technology, jobs that were performed in the traditional way, gain an utterly new dimension and are done in a different but, at the same time, more efficient way. Having in mind the legality of capital, any technology that brings rationalization of business and achieves savings, will be accepted.

Industries That Underwent Most Radical Changes

E-commerce

One of the areas that have undergone the most radical changes is e-commerce. Classic e-commerce implies the existence of a state that issues currency, a banking system, and money transfer channels. Cryptocurrencies have excluded states, banks, and money transfer channels controlled by countries and banks from the mentioned chain.

Completely new infrastructure has been established, independent of any state or financial market institution. Until recently, this was a completely unthinkable concept that, despite initial skepticism, proved its reliability and efficiency. The new way of trading is based on bilateral exchange, peer-to-peer, without the need for a third party to be an arbiter in financial transactions.

Game Industry

The computer game industry is in full swing and occupies a significant place on the world industrial scene. Not so long ago, the payment of licenses for playing increasingly popular games was done in FIAT currencies. Actually it had no alternative. Today, it’s common to pay a fee for playing games using cryptocurrencies.

In addition to the advantages reflected in the very efficiency of cryptocurrencies, their use also brings the aspect of relative anonymity, which suits the players who participate in games of chance.

Tourism

The tourism industry is also experiencing its transformation through the use of new technologies. This can be seen to the greatest extent with the appearance of the Airbnb system of booking and use of tourist resources. Airbnb doesn’t own a single tourist facility but operates millions of them.

Until recently, the idea of paying for rentals with cryptocurrencies was completely unthinkable. What’s especially interesting is that in the tourism industry, blockchain technology meets the Internet of things (IoT) technology (a network of Internet-connected objects able to collect and exchange data). It’s difficult to predict what novelties this meeting will bring, and what will result from the symbiosis of these two technologies. The result is believed to be spectacular.

Supply Chain

We can’t omit to mention the supply chain in this story because blockchain improved this industry beyond recognition. Blockchain enables much more transparent and accurate end-to-end tracking in the supply chain. Companies can digitize physical assets and create a decentralized inalterable record of all transactions. It results in the possibility to track assets from production to delivery or even to use by end-user.

We can conclude with certainty that new technologies that have supported cryptocurrencies will bring us interesting and exciting solutions that will lead the way to significant changes in our lives.

Source: https://www.bmmagazine.co.uk/business/which-industries-will-be-most-affected-by-blockchain-technology-over-the-next-decade/

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