Tag: cryptocurrency

Categories
Business & Society

Empowering Individuals and Breaking the Stranglehold of Traditional Institutions

As we deposit our hard-earned money into a bank, we trust that it will be safe and secure. But what if I told you that the stability of your bank account is subject to various risks and uncertainties, such as bank failures, government policies, and economic conditions? The fact is, while we technically own the money in our bank account, the security of it is not fully in our control. In short, in the traditional system we need to trust people.

Enter decentralization, the solution to this problem. Decentralization distributes power among participants, creating a more democratic system that is less prone to corruption and abuse. The crypto community, filled with individuals who believe in financial freedom, transparency, and decentralization, is striving towards this goal through decentralized finance (DeFi).

In the traditional financial system, banks and other institutions hold onto your money and make decisions about how it’s used. But in DeFi, the power is in your hands.

One way to make money in DeFi is through yield farming. Yield farming is when you lend out your digital assets, like cryptocurrencies, and earn interest on them. The interest rates in DeFi are usually higher than traditional savings accounts, so it can be a good way to grow your wealth.

Another way to make money in DeFi is through trading. Just like stocks, the value of cryptocurrencies can go up and down. By buying low and selling high, you can make a profit. In DeFi, you can trade a wide variety of cryptocurrencies.

Finally, you can also earn money in DeFi by providing liquidity to decentralized exchanges. When you provide liquidity, you’re helping to make sure that trades can happen smoothly and quickly. In exchange, you can earn fees on every trade that’s made.

Most DeFi protocols are run by automated smart contracts and decentralized autonomous organizations (DAOs), and do not require heavy Know Your Customer (KYC) requirements, allowing traders to maintain their anonymity.

KYC is the process of verifying a client’s identity in financial transactions, and while it is important for preventing illegal activities, heavy KYC requirements can also limit financial freedom and accessibility.

The ability to trade and invest anonymously is a core tenet of decentralization, and excessive KYC requirements can be seen as a violation of personal privacy and freedom. Soon my bank will ask who my mistress is and for the size of my shoes before I can make a transaction… Additionally, collecting and verifying personal information can be difficult and expensive, leading to a concentration of power in larger financial institutions and hindering competition and innovation. At what point does banks have too much power?

In conclusion, finding the right balance between ensuring the safety of the financial system and preserving the freedom and privacy of individuals is crucial for the continued growth and success of the crypto and DeFi communities. Decentralized finance is paving the way for a more inclusive, accessible, and democratic financial system that puts the power back in the hands of you and me.

I know it’s feels early. But if you are tired of your bank and if you’re seeking financial freedom and control over your assets, I would look at DeFi.

Categories
Business & Society

Maximizing Returns in the Crypto World: A Guide to Navigating Volatility, Risk, and Opportunity

Old-timers in the crypto space will tell you that they love the volatility. Brutal dips, trips to the moon, and crypto winters offer opportunities, but they are not for the faint of heart. The volatility in the price of cryptocurrencies makes it a great trading asset, but be warned – the word in the crypto community is that 90% of traders are unsuccessful.

I avoid trading and instead believe in the long-term potential of cryptocurrencies. Over time, I’ve learned vital lessons about investing in crypto. The volatility is both a blessing and a curse, providing opportunities for traders but also being nerve-wracking for those not comfortable with risk. A long-term perspective on owning crypto requires the ability to tolerate dramatic price swings.

Many in the crypto community believe that the price of Bitcoin follows a four-year cycle, as history has shown repeatedly. It’s debatable whether we’re in a bear market right now. If Bitcoin has hit bottom, then we are in the early stages of a bull market. However, some might refer to this phase as an accumulation phase, as prices are expected to rise slowly for almost a year. The next major uptrend is predicted for mid-2024, but history may not repeat itself. To increase your market stamina, I suggest taking a long-term view and not tracking market prices daily. Holding crypto costs nothing, and some coins even offer interest through staking rewards. 

Staying informed about news and events in the crypto world is also valuable, keeping an eye out for regulatory changes, investor sentiment, and technological developments that could impact your investment.

However, it’s important to remember that crypto is risky. But it has taught me to consider and value my retirement. Some say the crypto boom is a once-in-a-lifetime chance to change our financial future, and that’s the key word – future. Crypto is a lesson in valuing your future self, hopefully.

Categories
Business & Society

Crypto Rescues Bored Swamped Professors and Shows Big Pharma How Research is Done

Key takeaways: Crypto breaks through traditional borders in research and offers a helping hand to professors in dire need of funding and innovative solutions. Decentralized Science, is a revolutionary concept that democratize the scientific process where unconventional ideas can blossom.

Traditionally, scientific research has been the domain of large institutions such as universities and corporations. In many ways, traditional central institutions of knowledge have a monopoly on research and knowledge. Research is largely conducted and kept within the academic space and important reports and articles are hidden behind paid walls of academic journals.

Anyone involved in health research knows how difficult it may be to find funding for a research project about rare diseases and mental health conditions. Interdisciplinary research that often requires a long-term study is also hard to finance. The academic space can be brutally tedious and boring. Research is suffering from a sad case of stiffness and bureaucratic structures, formal guidelines, and time-consuming proposal processes. Professors feel stuck in a swamp of paperwork.

Here’s the solution!

Decentralized Science, or DeSci for short, is a revolutionary concept that aims to democratize the scientific process.

Think of DeSci as a form of crowdfunding and sharing research data in a secure, collaborative and accessible way, with or without the use of traditional research institutions.

One of the key benefits of DeSci is that it allows for a more democratic distribution of funding. Rather than relying on a small group of centralized institutions to provide funding, DeSci uses a token-based system where anyone can contribute and invest in scientific projects. This not only provides researchers with more funding options, but also allows for a more diverse group of people to contribute to scientific research.

Another benefit of DeSci is that it enables researchers to share data and collaborate on projects in a more efficient manner. Using blockchain technology, researchers can easily and securely share data with other members of the network, without the need for intermediaries. This allows for faster, more efficient data sharing and collaboration, ultimately leading to better and more impactful research.

For the reader who wants to dive deeper in DeSci, Molecule Protocol is an innovative solution worth taking a look at.

More reliable research with Desci

Cherry-picking results, hypothesizing results after the results are found, and adjusting the analysis after the results as well as outright fraudulent practices in research are a major problem. DeSci may be a solution as the research data that is stored on a blockchain is immutable. This is achieved using smart contracts, which automate the process of recording and verifying research data on the blockchain.

In a world where centralized institutions have long held a monopoly on knowledge, DeSci offers a new paradigm for conducting and sharing research that is more open, transparent, and inclusive. Sharing knowledge is beneficial for society and DeSci research is not hidden behind a paid wall of a fancy journal.

Decentralized Science has the potential to make the research setting happier and more community friendly. Stiff competition between research institutions can be turned into a collaborative environment.

Trust in big-pharma is not peaking after the covid-19 vaccine saga, and a token-based solution along with blockchain technology can even increase trust in big pharma as its a tamper-proof way of conducting research. Whatever! Who cares about the trust of big pharma?

Most of all, a public infrastructure for funding will lead to important findings that do not (always) follow the infamous money trail.

Categories
Business & Society

Why Big Money Get Crypto Mostly Wrong

Things are not as they seem in the investment world. We have a false image of the greatness of venture capital. What is behind all the failing crypto projects and why can’t even venture capital get it right?

In essence venture capital (VC) is a company or investment firm that provide financial support to small, emerging companies with the potential for significant growth. Usually, a venture capital firm get a stake in the company, and they provide additional resources like management expertise and industry connections to help the company succeed. At first glance it sounds like it’s a given success for a small company when they get support from a venture capital firm. It’s a Dragons Den scenario in many ways. However, the success rate of venture capital investments is notoriously low. In fact, 63% of startup failures occur in the tech industry, and 75% of venture capital-backed startups fail. Being successful in business is difficult even with capital and know-how. Blockchain companies face an even tougher road to success.

Since Bitcoin was released the staggering amount of 80,000 blockchain projects have launched. However according to the China Academy of Information and Communications Technology only 8% of them are still active and the average lifespan is only 1.22 years. Gartner estimates that only 5% of blockchain projects make it to production, and 90% of those will need to be replaced within two years to remain competitive. The statistics give us a sobering view of the crypto industry. We can easily conclude that it’s smart to invest in the biggest crypto projects that have been around for multiple years.

But what are the reasons why blockchain companies struggle?

Firstly, the industry is in an early-stage and lack of adoption is a problem. Many crypto companies are struggling to guide themselves in an unclear regulatory setting. In the US, crypto companies can suddenly be dragged into court by authorities for unclear reasons because the regulatory landscape is still being created. Intense competition between crypto companies is another reason for projects failing. The crypto space is difficult to predict as its still in many ways hype driven and not only the most sound and useful coins win the market race. Funding issues and technological difficulties are also a significant contributor to the fail rate of crypto companies. Few companies survive the freezing cold crypto winter that we are in the middle of. They are forced to cut spending when markets are down, and venture capital is in many ways the only way to succeed. Another likely reason for the huge fail rate in the crypto space is that its surprisingly easy to launch your own crypto token and many unserious people are eager to get their hands on some crypto cash. There are thousands of poop coins that really stink. However, building a solid crypto project that stand the test of time requires a high level of skill and knowledge and is a time-consuming process. No wonder that most crypto projects fail.

It may seem crazy, but venture capital firms continue to pour billions into the space and clear regulatory guidelines are being created. Most money will clearly be lost but some companies will win big time. Clearly even big money gets it wrong when it comes to crypto investments.

No wonder it’s a high-risk and high-reward game.

Categories
Business & Society

Crypto’s Crazy Way to Adoption

Things have always been crazy in crypto, but not this loud. Now days even my 80-year-old neighbor have heard about recent crypto crashes. How did we get here and what does the road to adoption look like?

KEY TAKEAWAYS

· Bitcoin grew up as an outcast and a joke. Until its technology disrupted the financial world. The ride to full adoption is turbulent, but crypto is here to stay.

Bitcoin was born after the global financial crisis in 2009, but without a buzz. In fact, all we heard from Bitcoin were crickets. The jaw-dropping blockchain technology of Bitcoin was ignored. The first time we heard from Bitcoin was when a guy bought 2 pizzas for 10,000 Bitcoin on May 22, 2010. It took three years before Bitcoin started to have some traction across the world.

In 2013, The city of Vancouver opened the first Bitcoin ATM and Germany considered Bitcoin as a financial instrument, but not e-money. The US Drug Enforcement Administration were busy seizing Bitcoin for the first time in 2013. Plenty of shady people used Bitcoin for transactions without understanding that every transaction is transparent and law enforcement agencies started having an eye on the blockchain. Various Bitcoin payment processors set-up business and crypto exchanges emerged, and things were picking up. Then in 2014 the world’s largest exchange Mt. Gox was hacked and filed for bankruptcy. Since Mt. Gox handled about 80 percent of the world’s Bitcoin transactions most people thought the crypto industry was dead. Bitcoin became a joke and people started to refer to Bitcoin as magic internet money.

Bitcoin is ‘probably rat poison squared’

The fight against crypto went viral as headlines in media read: The Great Bitcoin Scam, You’d be Crazy to Actually Spend Bitcoin, Warren Buffett said that Bitcoin is ‘probably rat poison squared’. Since blockchain technology eliminates the middleman in economic transactions traditional banks started spreading fear, uncertainty, and doubt about Bitcoin. Meanwhile they quietly started stacking up on Bitcoin themselves. Now days, major banks use blockchain technology to increase the speed and efficiency of transactions.

Bitcoin has had dramatic mood swings up and down in a four-year cycle. At the top in 2021 one Bitcoin cost almost 70,000 USD before falling to 16,500 in 2022. However, if we look at the Bitcoin price since its birth no traditional asset beats its increase. The price of Bitcoin will likely continue to be volatile until the traditional finance sector fully embraces it.

In 2022 the craziness continued. TerraUSD , Celsius and Three Arrows Capital crashed. Then the world’s second biggest exchange FTX kick the crypto space in the nuts and laughed when they bought real estate with customer funds. Then they filed for bankruptcy. The contagion of the FTX crash is still a major concern for other exchanges and crypto lenders who owned the FTX token FTT.

Currently the war on crypto has turned its focus on the greatest problem that really has nothing to do with the groundbreaking technology of blockchain. Lack of regulation fosters criminal activity and the biggest investors from the traditional financial sector are still on the sideline waiting for regulatory clarity before investing fully. Nation states have not been able to keep up with the fast pace of digital technology. Crypto will not be adopted by the public for years to come.

So, there we have it folks. The road to public adoption of blockchain technology is rocky to say the least. Disruptive developments in society seem to follow a path.

Gandhi said it best “First they ignore you, then they laugh at you, then they fight you, then you win.”

In the end, the good of crypto will win if we are willing to have a grown-up debate and a healthy look at the vast opportunities of crypto currencies and blockchain technology. The tech is clearly steadfast and a part of our future.

Categories
Business & Society

Crypto crisis — Should I buy or sell?

We have been bombarded by grave crypto news for months now. It’s a bad crisis. Seriously bad. What to do with our hard-earned cash?

Media have jumped on the opportunity to make dramatic click-bait headlines portraying an apocalyptic situation for the crypto industry. The contagious shitstorm started with the collapse of TerraUSD, Three Arrows Capital and Celcius Network and continued with fraudulent practices by crypto exchange FTX and Alameda Research.

It’s like a thrilling HBO series.

It’s an ongoin crisis. The contagion effect of the collapse of FTX and Alameda Research caused Voyager and Blockfi to go bankrupt, and the problems will continue lower down the crypto food chain. The industry is wondering why the crypto villain, SBF, is not arrested and is still free to party in his penthouse in the Bahamas. Rumor has it that prominent politicians and high-profile people in regulating organizations have been paid off.

What’s worse? Well, we have the imminent global depression and the war in Ukraine. Limitless printing of fiat currency and inflation is making us considerably financially weaker. Global macro-economic factors tell a worrying tale, and the crypto market is no different.

We cannot possibly buy crypto now right!?

The word in the crypto space is that people who invest long-term should consider buying in a shitstorm. Those looking to make a quick buck should walk away. If you bought your first crypto in 2021 it’s too late to leave the party without a loss. You might as well have a sleep-over. Make some popcorn, take a warm blanket and cuddle-up on the sofa, and enjoy the thriller. It’s only pretend money anyway right!?

But seriously. We need to look at least 16 months into the future before we can expect a clear uptrend in the crypto market. The reason for the wait is not because of the current situation. Crypto enthusiasts are waiting for the next Bitcoin halving which is on the 29th of March 2024. Until then there will likely not be much price action. The Bitcoin halving-cycle has been right so far in predicting when the price of Bitcoin will go up and down. That trend is still your friend.

If we look through the shitstorm we will see a much more developed crypto landscape. Research shows that crypto currency is a legitimate investment. In fact, investment research shows that 2 percent of the total investment portfolio should be crypto currency such as Bitcoin.

Moreover, considering that most banks invested in blockchain related companies in 2021, newcomers are in a good spot right now to enter the market. After the crypto market downturn in 2021, KB Financial Group, United Overseas Bank, Citigroup, Goldman Sachs, and Commonwealth Bank of Australia have continued their investments in the crypto space. The word on the streets is that it’s smart to follow in the footsteps of big players. We can be sure that banks are in it for the money.

Those involved in the crypto space are slowly starting to buy to increase their positions before next bull run around March 2024. But remember, this is edutainment only and I am not a financial advisor. It’s wise not to invest. But it’s also wise to invest after doing your own research.

One thing is likely. The sky clears after the storm.

Categories
Business & Society

Predicting the future for profit

Following the trail of institutions and big-time investors is wise to make profits in crypto. So called ’smart money’ will be where the future is. What will the future look like in crypto?

Disclaimer: This is education only, and not financial advice. Please, do your own research and consider what is best for your financial situation. Be careful friends.

Smart money is the capital that is being controlled by institutional investors, billionaires, central banks, funds, and other financial professionals. Companies and institutions and big-time investors employ the smartest people around to look into the future. No one really knows what the thrilling future of crypto exactly will look like, but there are a few signs.

We are amid the fourth industrial revolution, and this societal shift has in store great changes. In the next 5 years we can predict a further digitalization of things, business, and society. I see the following scenarios in the future:

1. A further digitalization of our existence will mean a dramatic increase in data. This data needs to be stored somewhere. So, investing in digital assets that store data is probably wise.

2. As more and more virtual land is bought by big brands, investing in the metaverse is also likely to be profitable.

3. Layer 1 protocols are also likely to blossom as thousands of dapps are being built on them. It is very likely that the biggest ones will survive the bear market.

4. The banking industry is looking at blockchains that can make cross border transactions more efficient, faster, and cheaper. They will also upgrade the way they do their business. Therefore, look for coins that are ready for iso 20022.

When we have a likely picture of the future, we can use the information to find crypto currencies that are involved in the development of society and business. We need a picture of the future to have a long-term mindset in investing.

My take on the current market:

October has the nickname pumptober, but this october is more likely to be mediocre or even red. Not even Bitcoin can withstand the vast array of negative macro-economic factors affecting the world. As Russia’s war on Ukraine drags on along with a looming recession it is difficult to predict crypto prices. Even crypto experts are guessing or just following their gut…

We are in a bear market and the price of crypto coins are likely to continue going down slightly or stay flat until the end of the year at least. Some predict that prices will continue being boring all through 2023. Boring meaning a slight upturn each month beginning in early 2023. The real action upward is likely not to start until April 2024.

Crypto has an index that measures what emotion and different sentiments are driving the market. The Fear & Greed Index is now showing ‘extreme fear’ among investors which may cause a strong selling pressure. Basically, investors are too worried to invest. However, those believing crypto regard ‘extreme fear’ as a buying signal.

Coins on my radar:

Bitcoin, Ethereum, Solana, Cardano, Filecoin, XRP, Algorand, Sandbox, Decentraland. But there are many more to consider.

Please consider the following rules in investing in crypto:

· Stay up to date with crypto news.

· Think long-term.

· Be ready to lose it all.

· Keep your money on cold storage.

Be careful. Not investing is wise. Investing after doing your own research is also wise.

Categories
Business & Society

Banks hinder innovation by blocking the FinTech industry

Banks may be considered secure, but they are failing to provide satisfactory and effective services for billions of people and hinder the development of the financial sector. Is FinTech the solution?

Crises do not only foster personal growth but also societal developments. The 2008 global financial crisis led to the growth of an innovative financial industry called fintech. FinTech is short for Financial Technology and is used to describe an industry that combine new technology and financial services. Commonly FinTech companies offer digital payments instruments, lending, crowd funding and open banking as well as cryptocurrency. The Swedish FinTech sector has grown more than fifteenfold since 2008 and is proud to offer a healthy innovative environment for about 450 FinTech companies. Stockholm is a hub for many FinTech companies such as Klarna, Avanza, Qliro and Nordnet.

However, innovation can be disruptive. FinTech is seen as a threat to traditional banks as it eliminates the middleman in economic transactions. Traditional banks are making it harder for people to interact with FinTech companies by banning the use of debit and credit cards for cryptocurrency purchases. The Swedish bank Handelsbanken have blocked the use of debit cards on the crypto exchange Binance and the credit card company Remember have blocked all crypto purchases. Since the beginning of 2022 it is not possible to buy crypto with a Swedish debit or credit card on any of the major crypto exchanges.

The official explanation for blocking crypto payments is that it protects the customers for risky investments and from fraud. Hang on! What‘s’ going on here? I am not a gambler, but I am sure that I can use my debit/credit card when I go to a casino. I know I can use it to buy a few margaritas in the nightclub… I do not need any bank to decide for me what an risky investment is.

The only reasonable explanation for blocking crypto payments is that crypto is seen as a threat to the core business model of traditional banking. It is common knowledge that traditional finance is fearful of the transformative power of the crypto industry. At first glance it may seem natural that traditional banks protect themselves, but it is a violation of freedom when they try control how we spend our money.

On a broader scale these measures by the banks pose a threat to the FinTech industry and hinders innovation. The FinTech industry is a growing part of the financial system in Sweden and have earned 0.15 percent of the nation’s GDP. Some FinTech firms use blockchain technology and crypto currency in their business model. Sweden is increasingly seen as an international player in the FinTech industry and traditional banking will go through changes in the fourth industrial revolution. It’s a fact that major global banks use blockchain technology as a way to improve their service. But blocking banking card transactions to crypto exchanges sends another very clear message.

The traditional banking sector is seen as a secure with government guarantees but it has failed to help those in most need. There are approximately 1.7 billion unbanked people in the world and most of them are women. In developing countries 94 percent of the population has a bank account but in developing countries the figure falls to 63 percent. On a global scale 72 percent of all males have a bank account and 65 percent of women do.

FinTech has potential to provide banking services for the unbanked and help to solve the problem with financial inequality. I would like to ask the traditional banking industry how one can live without having a basic checking of savings account!? How can a person live a normal life when there is no way to get a loan or difficult to pay for groceries. How are banks helping the poor?

Well, let’s not forget. Banks are not our friends. The world would be wise to consider what the FinTech industry can do to improve the current financial system. Lets create a sound financial system for the benefit of mankind. A system that do not exclude either traditional banks or the crypto industry.

Categories
Business & Society

Growing pains of the crypto industry

Scams, hacks and rug pulls are causing billions in losses for investors and harming crypto businesses. Exchanges and decentralized finance companies go bankrupt. Rogue states use anonymous crypto currencies to fund military spending. Governments ban certain blockchain solutions and traditional finance are in a shoot-out with the crypto industry. Is this normal for the emergence of new technologies?

The internet started its public journey in the beginning of the 1990s and today 4.4 billion people are estimated to use the internet. When internet was launched to the public a range of problems occurred for users. Spam and viruses were so common that every computer needed antivirus software. Illegal content and pornography basically took over the internet. Later major issues appeared when the old Internet Protocol called IPv4 had to be changed to IPv6 to get more internet addresses. The biggest problem is still that half of the world’s population do not have internet access. The point is that technological developments will go through problems before they are adapted to our needs. Rome was not built in a day.

It’s not easy for the crypto industry to adapt to its own rapid development. Laws and regulations in the crypto space cannot keep up. For example, recently the virtual currency mixer Tornado Cash was sanctioned and caused worries in the Ethereum ecosystem. The problem is that Tornado is an open-source software that use the Ethereum system to make it difficult to trace cryptocurrency transactions. Apparently, North Korea used Tornado Cash to launder $7 billion worth of crypto currency on the world’s second biggest blockchain Ethereum and used the money to boost their military spending. The founder of Ethereum Vitalik Buterin did not see that coming.

Clearly regulation and laws are an essential part of a healthy society but sanctioning a piece of open code is clearly problematic. Privacy is an important part of the crypto space and that does not mean that privacy is equal to illegal behaviour. We do not want others to know about our digital wallet or about our health data that will be stored on a blockchain in the future. We certainly cannot blame blockchain technology in general for creating software that can increase privacy. When Facebook used our internet data in questionable ways to profit, the US government tried to make sense of what they did and to enforce regulation. But we never blamed the internet for how it was used to profit from consumer data the way Facebook did.

The S curve is a way to measure how far a technology is being adopted by society. If we look at where the crypto industry is in terms of adoption in comparison to the dawn of the internet its only 1993 in the crypto space. Do you remember the first time you used Explorer to surf the internet? The S curve tells the story that the crypto space is somewhere in between the innovator and early adopters’ phase of development. Think of the adoption rate like a scale from 1 to 5 and the crypto industry is nearly in the second phase. The fact that there are more than 20000 crypto assets it’s obvious that innovators have centre stage and you and me (early adopters) see opportunities in the field, but the public remains sceptical. Crypto is like an energetic cocky teenager and growing pains are natural.

Have a great day!

Henrik

Categories
Business & Society

A crypto boom despite price downturn

The price of Bitcoin has fallen 70% since all-time high in November 2021 and some altcoins have even had a 90% downturn. A newcomer in the crypto space might think that the industry is down for a 10 second count, but in fact the developments in the crypto industry have been significant in the last year.

Major banks consider blockchain technology a necessity to be competitive and to improve its services and to save billions. Santander claimed that banks could save 15–20 billion a year. Mastercard and Visa is in on making it possible for their customers to do crypto payments. Luxury brands are betting on the future of the metaverse. Meta opened its arms fully to the industry and has adopted the metaverse kid. Instagram has made it possible for users to show NFTs on the platform. Applepay have already taken a piece of the traditional payments pie and have created solutions for connecting crypto wallets to Applepay.

I agree. NFTs are a bit difficult to understand, but they are far more than just a jpeg image. NFTs have already had a boom in 2021 and is here to stay with innovative functions. The entertainment industry use NFTs to offer the NFT holder various forms of entertainment such as a concert or an art exhibition. Professional artist use NFTs to ensure payments and to lower the risk of forgery. NFTs are a big time business. In 2022, the sporting industry is set to earn $ 2 billion on digital collectibles, virtual access, and gaming.

Michael Sailor and his company MicroStrategy is relentless in its faith in Bitcoin and keeps on buying regardless of its downturn. Elon Musk needed cash and sold some Bitcoin and keeps on fiddling with Dogecoin and scaring the market with occasional tweets. Recently one of the world’s biggest investments managers Blackrock with its trillion-dollar purse showed up in the space and teamed up with the crypto exchange Coinbase. Although Blackrock is tight with the traditional banking sector the crypto industry cannot wait for a trillion-dollar injection. Boom!

Companies use blockchain technology to improve their services. Blockchain is a software solution to problems in various industries such as tracking and tracing products in the transportation industry. Or for securely storing private and sensitive health data. An entrepreneur could even start a crypto business to fund a shelter for animals. Anything can be programmed on the blockchain. A smart contract code can be seen as the computer saying, ”if x happens then y happens automaticaly”.

In the beginning of the year U.S President Joe Biden even signed an executive order on crypto to advance the U.S competitiveness and leadership in digital assets and crypto ecosystem.

Blockchains clearly has value for businesses and nations.

Investors believe that the crypto project has potential to increase their investments because the project can solve a problem. Sure, some crypto projects are useless and still increase in price, but the last stupid thing in universe is not yet created.

Let’s not forget that crypto is more than the price of an asset. The monetary value of the crypto market is not indicative of how far the crypto industry has come. CZ Head of the world biggest crypto exchange Binance, said it best “Price is just a reflection of mass psychology, not progress.”

Have a great day! / Henrik