Assets

Recently, with increasing interest in whether Bitcoin will become a safe digital asset such as gold, it has been evaluated that it is not yet a safe asset. Looking at where the price of BTC is standing right now (BTC/USD $8775, -0.74%), a beginner in this nascent industry finds it hard that the token has ever traded above the $20,000.

The US Treasury Department's Office of Foreign Assets (OFAC) says it has sanctioned two Chinese nationals who laundered cryptocurrencies stolen by millions of North Korean hackers. Since the industry is still young, most cryptocurrency exchanges are under a major threat of losing their virtual currency holdings to wrong hands.

Blockchain technology is a solution to create unique digital assets (UDAs). To understand the opportunities of blockchain it is important to consider the uniqueness of digital products. But let's start with a common example.

The bank of Russia (CBR) has successfully completed the pilot of a blockchain and distributed ledger technology (DLT) platform for the release and turnover of digital rights. It enables you to digitize (tokenize) goods, services, securities and other valuable assets. Any company or institution will be able to create cryptocurrencies on the site.

The American government turned against its own word and offered to auction to the public stolen bitcoins it retrieved and held in custody. Although the US is among the fast developing countries in the world and a leader of technology, the US has been slow in legalizing bitcoin usage in the economy. For this reason many innovators fell on the wrong side of the law and got their assets frozen by the government.

During the last year, PrimeXBT’s user base has skyrocketed, and the platform’s trading volume exploded in growth. And it’s not uncommon while browsing crypto Twitter or any of the Reddit cryptocurrency subreddits to see traders clamoring about the ROI generated using the platform’s trading tools.