An analyst from Bank Of America explained he believes that blockchain adoption is the next major business that will reach more than $7 billion. His statement reached all crypto news headlines based on all tech giants that already made fortunes by adopting the blockchain technology.
For example, Microsoft is currently providing blockchain as a service or a tool via Microsoft Azure where developers can test their apps before they launch them. All of the Azure users have access to the Ethereum blockchain because of the partnership Microsoft made with ConsenSys.
Another major industry giant-Amazon, also launched Ethereum blockchain templates back in April this year and the goal is to provide an easy way to create blockchain networks.
More businesses are now getting into the BaaS products and this is why the market value is likely to grow immensely. The analysts from Bank of America Kash Rangan explained that the possible market value of $7 billion is because of the future value this business can get due regardless of the adoption limitations.
“Amazon will benefit from incremental cloud services demand from Blockchain implementation, while improved supply chain tracking should make Amazon’s retail operations more efficient.”
According to his analysis, more than 2 percent of the servers will be used to run blockchain with that reaching $5,500 per server annually. The Bank’s list of companies that are likely to benefit from blockchain adoption includes IBM, VMware, and Zillow.
“Many blockchain use cases have been identified, but full products/services have not yet been built out and are not used in production.’’
Blockchain adoption is also very likely to grow in the banking sector, logistics, media, advertising and more.
Money On Mobile Wallets: Western Union Teams Up With Cross Borders Network
"“We are continuously expanding and enhancing our account payout portfolio, providing customers with multiple payout options including bank accounts, cards or mobile wallets. Our goal is to make digital money transfer services more accessible, with a specific focus on enabling mobile transactions."The collaboration with Thunes, according to Western Union, will help the company better serve the customers who lack access to traditional financial services. They will be connected to the alternative payment solutions such as the mobile wallets. https://twitter.com/samconnerone/status/1108414600050020354 The collaboration also includes Stellar as the platform of choice for Thunes - and the distributed and open-source blockchain platform that connects financial systems. According to Thunes, Stellar provides an instant clearing, settlement and execution platform. The CEO of Thunes, Steve Vickers, commented the partnership saying:
"Our payments platform seamlessly interconnects payment providers globally and enables interoperability between diverse payment systems. By utilizing our vast networks, Western Union customers will have more flexibility when sending money across borders."The collaboration will obviously result in better financial access for consumers - especially ones lacking access to traditional financial services - by connecting them to alternative payment solutions such as mobile wallets that can help drive better financial inclusion on a global scale.
Latin E-Commerce Giant Mercado Livre Bans Cryptocurrency Ads On Their Website
"We would like to inform you that as of March 19, you will no longer be able to advertise used products in the following categories: - Cryptocurrencies - Prepaid cards for games Because you have ads for used products that will soon be banned, we recommend that you end them. Otherwise, they will be finalized on the date mentioned above. "On the other hand, Mercado Livre stated:
"Mercado Livre clarifies that as of March 19, crypto ads that are active on the site in the ‘used’ condition will automatically be finalized and new ads can only be created as ‘new products’."The E-commerce giant has surpassed another giant fairly known to the public-Amazon in Latin America. At the start of this month, the company reportedly made an agreement of about $750 million regarding to it as an investment via the sale of common stock by making payments to the PayPal network. Tech giants such as Google and Facebook have also implemented similar bans such as this one. In 2018 also in March, Google announced they will ban all of the crypto-related ads starting from June 2018. All of the products were affected and companies weren’t able to publish crypto-related ads on the browser not even as a third-party site on the network. In January this year, Google blacklisted multiple keywords that had the word Ethereum (ETH) mentioned in the ads platform. Google stated that the crypto exchanges who aim to be noticed in Japan or the United States could be advertised on the platform but other countries could be the reason for the ad rejection.
Further Delay For Bakkt’s Plans Because Of Regulator Approval
“We are working through the regulatory review process and are looking forward to updating the market soon.”Bakkt was initially supposed to debut in November but there have been multiple delays because of the still not obtained approval from the Commodities and Futures Trading Commission. The deadline has been pushed multiple times but the regulator commissioner Dan Berkovitz told in an interview that they are currently working hard on issuing approval for several crypto-related applications including the Bakkt platform. As previously reported by DC Forecasts, Bakkt earned a stunning $740 million valuation after successfully raising more than $180 million in funding for 2018. Also, Jeff Sprecher, the CEO of the Intercontinental Exchange (ICE) said that he expects for the crypto platform Bakkt to launch later this year after he was asked during an earnings call.
American Prediction Market Startup Numerai (NMR) Raises $11 Million In An ICO
“The way we think of our investing in decentralized crypto networks is underwriting, capitalizing the network. … As more people come to buy and sell data from each other, the role of big financial investors like ourselves diminishes over time. Then we can gradually begin to exit our position as the network becomes self-sustaining.”Monegro also said that Erasure will take the complete Numerai idea to development - in its own fund that will crowdsource insights incentivized by token rewards and in that manner use it to “break open the investment market.” Led by VC and private equity firm Placeholder, the ICO round also included the crypto investment company Paradigm that was founded by Coinbase's co-founder Fred Ehrsam. After the news went live, the price of the Nomeraire token surged by 19% and is now trading at $5.77 at press time, according to new data from CoinMarketCap. The token is currently available on five markets including Bittrex, UPbit, Poloniex, DDEX, and IDEX. The total market capitalization at the moment is $7.7 million.
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- Money On Mobile Wallets: Western Union Teams Up With Cross Borders Network
- BitMEX CEO Arthur Hayes: Bitcoin Will Test $10,000 In 2019
- Bitwise To SEC: 95% Of Volume On Unregulated Exchanges Is Suspect
- Latin E-Commerce Giant Mercado Livre Bans Cryptocurrency Ads On Their Website
- Further Delay For Bakkt’s Plans Because Of Regulator Approval
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