Crypto - Developments
Irked as ever by the banks - you remember the banks - continually spreading garbage about crypto assets, I thought it an opportune time to let you know what is going on in this seemingly "doomed" and "going nowhere" space.
In no particular order:
Saudi Arabia and the UAE are launching a joint cryptocurrency, initially for their banks to start with.
The Stock Exchange of Thailand [SET] is preparing to launch a new digital asset exchange; the Bangkok Post reports a License has been applied for to launch a cryptocurrency exchange.
Hyper-inflation in Venezuela - 1.3m% - has resulted in its citizens turning to cryptocurrency as their own fiat currency is effectively worthless. Many economists suggest the next crash could see a similar outcome all over the world.
The world's largest crypto exchange Binance has just opened a fiat to crypto exchange in Jersey.
BAKKT [owned by the owners of the New York and Chicago stock exchanges] has just acquired an independent futures commission merchant to boost services for institutional crypto buyers.
There are now 8 crypto debit cards with varying costs and benefits, one of which is Wirex which I use regularly myself as I earn commission in Bitcoin every time.
Companies no longer need to list on the main equity Exchanges - London, New York, Tokyo etc as a result of ICO crowd funding.
Finally I read that Blockchain voting systems are being trialled across the globe due to the immutability and verifiability of blockchain technology which removes the possibility of voting twice, having votes deleted and human error. Also - the result of the election is known immediately after the polls close. I imagine certain news media outlets will be watching this story with some concern!
The banks and the FCA tell us to avoid this space, that it has had its day and after a stellar rise is now in terminal decline.
I think not.