Tag: cryptobusiness

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Business & Society

From Bartender to Web3 Pioneer: Alexandra’s Story Behind Thrilld Labs

When I logged into Zoom to interview Alexandra, the founder of Thrilld Labs, I could tell this was going to be special. She greeted me with a radiant smile, a mix of warmth and energy that immediately set the tone for our conversation. Yes, she was beautiful, but what captivated me was her story—her grit, resilience, and determination to bring value to the Web3 space.

Alexandra’s journey started with a simple yet powerful idea: making it easier for people in Web3 to connect. Thrilld Labs emerged from this vision, a platform that brings together projects, investors, developers, and service providers. Through her innovation, the Synergy-Machine, Alexandra created a space where real people meet, collaboration happens, and ideas flourish. Yes, partnerships take shape. I would say it’s Tinder for Web3.

Her journey wasn’t easy. Originally from the Netherlands, Alexandra moved to Italy over 10 years ago. I could even sense the warmth in her studio, all the way to my place in Sweden. Alexandra entered the Web3 world in 2017, not as a developer, but as a trader looking to pay off her student debt. I forgot to ask if she was successful in trading. With two Master’s degrees (one about Policy and the other in Political Science) under her belt she said that she wanted to change the world. 

Alexandra worked in hospitality, bartending to support herself through school. That experience taught her the value of hard work, adaptability, and persistence. I would say that these qualities are essential in launching Thrilld Labs. I could relate when she told me that it was not easy to raise capital when experiencing imposter syndrome as a non-developer and female founder in a male-dominated space. Imposter syndrome limits our personal growth if we succumb to it.

Her journey also involved profound personal loss. Alexandra lost both her father and stepfather to cancer and watched her mother battle the same disease. These tragedies pushed her to focus on what truly mattered.

“Losing my loved ones made me realize how short life is,” she told me. “It made me determined to create something meaningful.”

What I see in Alexandra’s story is a person who finds meaning in serving. In her case, she has even managed to make it a purpose in life. She really seems to be living a life worth living. Busy, but on her true path.

My T-shirt was not thin enough for that hot day. She smiled and fixed her blond hair. I laughed when I shared that I am single.

Now, Thrilld Labs is gearing up for its next phase. Alexandra plans to launch a utility token later this year, opening up investment opportunities to both large and small contributors. She was clearly happy about that milestone in her business.

But if there’s one thing I learned from our conversation, it’s that we need grit and many years, with or without a salary, before we are at our goal. Alexandra really seems to have the necessary grit to see it through. I invite you to check out the Thrilld App and get connected with fellow Web3 professionals.

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Business & Society

Bitcoin – Good or Bad for the Environment?

The environmental discussion on Bitcoin is a complicated and twisted debate. It’s a swamp of questionable research and biased thinkers. Here’s the gist of the issue.

One of the juiciest topics is the energy consumed while mining and running Bitcoin. Some claim that Bitcoin is an energy-guzzling monster. But there's more to the story than meets the eye. Figuring out how much energy that Bitcoin consume is difficult. It depends on what you want to look for. 

So, let's break it down with some stats: According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin consumes around 110 Terawatt Hours per year. It sounds a lot, but that's only about 0.55% of global electricity production. Studies claim that this is equal to the annual energy usage of Sweden. So Bitcoin has a considerable environmental impact. But, allow me to mention that the tobacco industry consumes more energy than Bitcoin. Hang on, we need to do a relevant comparison.

In fact, Bitcoin's carbon footprint, remains lower than the traditional banking sector. Peer-reviewed research claim that Bitcoin operates with 28 times less energy than the traditional financial system. That´s right! Far less than our printed paper money. Additionally, Bitcoin is more energy-efficient per transaction than credit transfers via for example credit cards. Furthermore, most of the energy consumption comes from the mining process, not the day-to-day transactions.

The energy mix used for mining Bitcoin varies depending on the location. So, nailing down its carbon footprint is difficult. Unlike other industries, it can be mined from anywhere, turning places with a surplus of renewable energy to their advantage. Miners move where the energy supply is high and miners are taking eco-friendly strides to reduce their carbon footprint.

So, is Bitcoin good or bad for the environment?

Yes, Bitcoin requires energy to create more Bitcoin. It’s the same for paper money printed by our governments. In the end, the real question is whether the benefits outweigh the costs. We have to drive oil sucking cars even though they are the biggest contributor to CO2 emissions because it takes time to create a eco-friendly car industry. We use air-conditioning to stay cool even though it consumes more energy than Bitcoin. Energy has an important use case.

Whereas, with sky high inflation, increasing debt it’s clearer than ever that we have a failing fiat system. We need Bitcoin as a hedge against inflation and a way to store value. It’s digital gold according to many! It’s likely a part of our financial future and therefore has a valuable use case. By the way, why are we not discussing the emission from the tobacco industry which only has harmful use case!?

I agree with the CEO of Microstrategy Michael Saylor, who claimed that Bitcoin mining is neither the problem nor the solution to the challenge of reducing carbon emissions. The environmental discussion on Bitcoin needs to mature.

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Business & Society

Mastering Communication: A Crucial Aspect for Crypto Enterprises

Crypto is failing badly at communication. The industry is hard enough and companies struggle for the wrong reason. Here’s what I mean.

Try reading this!

The patient presents with dyspnea and bilateral pleural effusions, necessitating consideration of thoracentesis to alleviate symptoms.

What did you feel? Could you identify with the language? I hope the person who read it did not die before understanding how serious his condition was. Jargon, slang, and ego-based writing is not helping the medical industry. Neither is jargon and bad communication skills in the crypto field.

If you are working in the crypto space you are aware of the problem. But crypto media stinks of jargon and its crucial for the crypto community to address this obstacle that hinders broader adoption. Simplifying the language and minimizing technical terminology will undoubtedly play an important role making it more accessible to a broader audience. Do I have to give examples? Here you go.

For example, technical terms related to the scalability and performance of blockchain networks is ridiculous for non-technical individuals. Instead of using phrases like "sharding" and "layer-2 solutions," highlighting how these developments lead to faster and cheaper transactions would make the technology more appealing and relatable. Another instance of jargon is the frequent use of terms like "hash rate," "proof-of-work," and "consensus mechanisms" to describe the mining process. Hell, the BitDegree Crypto Glossary provides a crypto glossary with almost 1,000 terms to know. For a novice, these terms might sound like an alien language. Remember, we fear that which is unknown, and language is a part of that.

The crypto community must recognize the significance of simplifying language and reducing jargon to foster adoption amongst people outside the industry. By replacing complex terms with more relatable explanations, we can make cryptocurrencies more inviting. That’s what we all want right?

The crypto learning curve could be much shorter, and people should feel welcomed. Or is the crypto community speaking to itself? It’s like a crazy person who is walking around talking gibberish to himself. I am not surprised that mainstream media has got crypto all wrong. I know one thing for sure, as more investors join, many will not know much about crypto. The companies that can effectively communicate crypto’s benefits and relate them to their own services will win.

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Business & Society

Attracting Millennials & Gen Z Customers with Crypto Payments

Attracting and retaining customers has become more challenging than ever before. As businesses strive to stay ahead of the competition, cryptocurrencies have emerged as a powerful tool for tapping into new millennials and Gen Z customers. Let me tell you how!

One of the key drivers behind the attractiveness of crypto payments lies in their appeal to tech-savvy individuals. Cryptocurrencies have attracted a community of early adopters who are comfortable with cutting-edge technology and eager to explore new possibilities.

Overall, millennials and Gen Z are driving significant changes in various markets as these generations are more tech-savvy, socially responsible, and focused on career growth and development than previous generations. As these generations continue to grow in economic power, businesses will need to adapt their marketing and product strategies to meet their needs and preferences.

Millennials and Gen Z Engagement: Younger generations, such as millennials and Gen Z, are particularly drawn to cryptocurrency due to its digital nature and alignment with their tech-driven lifestyles. 

Millennials and Gen Z stand out in the way they consume and what they identify with. Therefore the company image is important. 

I took a look at Morning Consults Report 2022. It concludes that the biggest brands for millennials and Gen Z in different types of businesses can be summarized as follows:

1. Social Media Brands: YouTube, TikTok, Snapchat, Facebook, Instagram, Pinterest, and Twitter are popular among both millennials and Gen Z. However, TikTok has a more favorable opinion among Gen Z women compared to Gen Z men.

2. Gaming Brands: Discord and Twitch stand out as popular brands among Gen Z, specifically in the gaming industry.

3. Tech Brands: YouTube, Google, and Amazon are popular brands among both millennials and Gen Z.

4. Retail Brands: Major retailers like Amazon, Walmart, and Target have high favorability ratings among Gen Z.

5. Food & Beverage Brands: M&M's is the highest-ranking brand among Gen Z, and food & beverage brands make up half of Gen Z's top 40 brands.

Considering that all these businesses are in some way connected to blockchain technology and the crypto industry underlines that they know their customers. 

It is known that Google has filed patents related to blockchain technology and has invested in blockchain startups through its venture capital arm, GV. Snapchat has previously allowed users to buy and sell Bitcoin through its app. 

The gaming industry is using blockchain technology and crypto currencies to create games in web3. Facebook has filed patents related to blockchain technology and has explored the use of blockchain for various applications, such as digital identity verification. Twitter has allowed users to add Bitcoin and Ethereum addresses to their profiles, and has explored the use of cryptocurrencies for tipping content creators on its platform. 

Furthermore, the word on the crypto street is that Amazon is working on providing a platform for users to access cryptocurrency-related services.

What’s more? Crypto users typically belong to a demographic with disposable income, affording them the ability to spend on luxury goods and services. By accepting cryptocurrencies, businesses have the opportunity to cater to this affluent segment, offering products and services that align with their interests and lifestyles. 

It’s clear to me. By adopting crypto payments and the latest tech, businesses can connect with millennials and Gen Z on a deeper level, fostering customer loyalty and brand advocacy.

…the biggest brands for Millennials and Gen Z customers are basically screaming:

"HEY EVERYONE, LISTEN UP! EMBRACING CRYPTO PAYMENTS IS THE KEY TO BUILDING TRUST AND CREDIBILITY FOR YOUR BUSINESS! CUSTOMERS WHO KNOW CRYPTOS WILL TRUST YOU MORE, AND THAT MEANS LONG-TERM LOYALTY AND AWESOME WORD-OF-MOUTH RECOMMENDATIONS!"

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Business & Society

The Future of Computer Backed Money

First, a quick market watch! The historic upswing in crypto recently has provided buying opportunities. Many cryptocurrencies have doubled in value over the past month. I hope your portfolio (if you have one) is happy. Now, onto this week’s article.

A few days ago, Elon Musk said, “All currencies, including digital currencies, will be backed by computer processes by 2030.” Now, that’s a thought worth considering.

This means that digital currencies will transition from their current state as independent entities to being fortified by robust computer algorithms and protocols. Don’t ask me about the technical details, but…

The transition towards computer-backed currencies will have a profound impact on users and society as a whole. One potential effect will be the democratization of finance. With digital currencies becoming more stable and secure, individuals in underserved regions and marginalized communities will have greater opportunities to participate in the global economy. This can lead to reduced poverty, improved socioeconomic mobility, and increased financial inclusion worldwide. If I continue on the positive track, I can argue that these advancements will transform industries such as banking, supply chain management, and asset ownership, leading to improved efficiency, transparency, and accessibility for businesses and individuals. Basically, the strengths of blockchain technology will be fully harnessed.

However, what also comes to mind in this development are challenges related to privacy and power concentration. To put it simply, if all money will be controlled by computer processes, we will miss the days of cash. We will dream of being able to spend our money without the control of some computer algorithm. Your money should be your money. There’s a dystopian saying that is relevant here: “You will own nothing and be happy.” Except I do not think that computer control will make us happy.

On a societal level, finding the right balance between the benefits of computer-backed digital currencies and concerns around privacy and power concentration involves transparent regulations, privacy protection, decentralization, user empowerment, and international collaboration.

How do we deal with this?

Considering the all-in approach on the business of the future that Elon Musk has, I do value his thoughts. Betting on the needs of the future is wise. I believe assets that maximize decentralization and minimize government control will be valuable. The most probable crypto assets today that fit the criteria and will be alive in 2030 are Bitcoin and Ethereum, and perhaps Cardano. Bitcoin is probably the safest. But, hey, it’s a guess and not financial advice.

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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.

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Business & Society

4 Industries that Must Use Blockchain Technology – or Suffer the Consequences

Where blockchain technology is most disruptive is the industry that can benefit the most by this emerging technology. The global financial services sector is worth approximately 20-25% of the world economy and traditional financial businesses are winners when they are using blockchain technology. This technology which is a key component of the fourth industrial revolution can facilitate cross-border payments and an entire decentralized, bank free, financial system is being built. But even the biggest traditional banks regard blockchain technology to be a key component to improve their business.

The enormous global supply chain management industry (worth USD 16.64 billion in 2021) will blossom by using blockchain technology. Blockchain technology can improve the transparency and security of the transportation process and increase efficiency of services. In fact, the entire production process including details about the product and its delivery can be tracked, traced, and validated by a blockchain. This technology ensures that data is not tampered with which increase trustworthiness of the goods and of the cargo company.

A clear winner by using blockchain technology is the medical sector that can use blockchain technology to create secure systems for storing and sharing medical records. To improve public health, medical establishments and governments should seriously consider using blockchain technology to improve the efficiency of healthcare delivery. Any medical staff would argue that one system for the entire medical sector will increase efficiency of treatment and decrease administrational costs. 

Moreover, governments and authorities are using blockchain technology to store and verify digital identification information and to deliver a digital monetary system. This is the biggest area in which blockchain technology may be a severe cause of concern as digital identifications and digital money may infringe on privacy if not properly constructed and managed. But using blockchain technology for digital identification and e-money will be inevitable components of the future and doing it right will be crucial.

Businesses that do not embrace blockchain technology will suffer from less effective, more costly, and less secure services. Traditional cargo companies will be less effective and therefore lose market share to competitors who are evolving and up to date with technology. Public health will suffer due to ineffective healthcare, and problems of lack of financial inclusion will continue. Moving away from paper fiat money and into e-money is a must to function in modern society and blockchain technology is the solution. Businesses will go bust for not following the trend of digitalization of society.

The digital future is already here and only the tech-savvy actor will enjoy the fruits of keeping up with the fourth industrial revolution.

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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.

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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.

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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.