Many of those involved in the cryptocurrency world have been frequent to criticize for the market due to its insanely high level of volatility and uncertainty. This has meant that many investors have become insecure about their investments. The past month has seen China and South Korea begin to put stringent regulations on the cryptocurrency world, but this could all be for the better.
Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747
John Utley at IBM stated that “for any of you that own cryptos, this was a rough week. At the enterprise level, our lead-in item is blockchain.” What Utley is saying is essentially that there may be a large amount of opportunity in the cryptocurrency world, but that opportunity is overshadowed by the massive amount of potential for the underlying technology known as bitcoin. The uptick in popularity for cryptocurrency is always up and down, which can lead to quite an issue. The popularity for blockchain however, remains at quite a constant high, which means that there will be a constant amount of interest in the currencies.
For those who don’t know what blockchain is, according to a report it is “a system of recording and encrypting a series of digital transactions (“blocks”) in such a way that anyone involved in the transaction can follow the chain of those transactions back to the source.Theoretically, the encryption method guarantees that the record is reliable, without the need for a central authority to be in charge of securing it. That’s why blockchain-based currencies such as bitcoin and ethereum have such high appeal, especially for folks who have idealistic or not-so-idealistic reasons to avoid traditional banking transactions.” The hopes are high that this newer technology can begin to show its full potential throughout the next months to years.