As a lot of people in the traditional financial industry are trying to lend a deaf ear to disruptive technologies such as Bitcoin (BTC), cryptocurrency, smart contracts, blockchain, and others, the companies and people trying to innovate these technologies are continuing to work day and night to see that there is visible steady technological progress. In fact, the finance sector is bustling with significant activities ranging from ‘cryptocurrency for good initiatives and inventive investment funds to digitized securities.
The cryptocurrency and blockchain is currently still problematic, strange and complex, and this means that entering it will challenge you a bit, but will also help you to get exposed to more than 5,000 cryptocurrencies, learn how much is daily trading volume is generated by these tokens, discover different exchanges companies and how they operate, and many others. Actually most people outside the cryptocurrency space just know Bitcoin, and that is just cursory, they aren’t aware that a lot of interesting things are occurring day by day.
Big companies including Samsung, Walmart, Maersk, Amazon, Microsoft, Telegram, Facebook, Goldman Sachs, IBM, JPMorgan, etc. are busy working around the clock to develop blockchain, however, some of these firms are using blockchains such as Quorum and Ethereum to conduct their operations. Believe it or not, blockchain and DLT has now become a very central part of the international fiscal structure. There are some companies that are making it in life by processing almost $240 billion of value monthly with the help of blockchain and DLT-based foot.
Almost a decade ago, we used to have zero or few transactions, but as we talk now for example, millions of transactions are being registered daily on the Bitcoin Blockchain, and this is a massive achievement, thanks to all cryptocurrency and DLT participants. Nevertheless, “Bitcoin is to blockchain as the original iPhone is to smartphones.”
The success that Bitcoin has registered in just a decade, gives you hope that it will be written in the history books as a life-changing currency, thanks to Satoshi Nakamoto, the person/company that invented Bitcoin. However, just like the imperfections of any other thing at its nascent stage, the cryptocurrency industry still has some flaws. It will keep on evolving just like the Internet, and if you can also remember, people and many companies including Bloomberg, TechCrunch, The Guardian, etc. made light of and underrated the original iPhone and called it names, they never thought that it would significantly transform communication for all future time.