We all know that blockchain technology is on the rise in many ways. But is there a fact that proves that officially?
Well, according to a new report from the International Data Corporation, the worldwide spending on blockchain solutions which was valued at $945 million in 2017 is coming closer to $9.7 billion in 2018. The 81.2% percent growth definitely scratches the surface of the rapid adoption of the technology in many sectors.
One of the most significant sectors is the financial one. Here, the blockchain technology is meant to aid the regulatory compliance, cross-border payments and settlements, custody, and asset tracking as well as trade finance and post-trade and transaction settlements.
Aside from the financial, the distribution sector may also benefit from blockchain. The projected investments for 2018 are around $510 million. According to Stacey Soohoo who is a research manager (and part of the Customer Insights & Analysis team) at IDC, this year is going to be crucial for blockchain technology.
In her own words, Soohoo said:
“2017 was the year of experimentation as enterprises realized both the benefits and challenges of blockchain. 2018 will be a crucial stage for enterprises as they make a huge leap from proof-of-concept projects to full blockchain deployments. As a leader in blockchain innovation and integration, the U.S. will continue to invest in blockchain throughout the forecast, spending heavily in financial services, manufacturing, and other industries. The U.S. will look to improve efficiencies in existing operations while promoting new applications in others, creating new streams of revenue and areas of spend. With increased investments driven by pressures to keep up with the accelerating pace in innovation, the world will continue to look to the U.S. for guidance as other regions forge ahead in their own blockchain projects and initiatives.”
With many recent acquisitions and plans for moving ahead with the blockchain technology, more and more companies are considering its use in their modern infrastructure.
Limitless Blockchain is only one of the companies that represent a dynamic addition to the growing portfolio of emerging technology companies. It is also a company that was recently acquired by Victory Square Technologies Inc. (an established blockchain solution provider) for $5 million.
The big question here is – will this guide us into a new era of blockchain solutions?
Blockchain Investments Could Drop 60% This Year Due To Bitcoin: Report
Economist Nouriel Roubini Slams BitMEX For Money Laundering
“BitMEX insiders revealed to me that this exchange is also used daily for money laundering on a massive scale by terrorists and other criminals from Russia, Iran, and elsewhere; the exchange does nothing to stop this, as it profits from these transactions.”Roubini noted that ‘’crypto land has become an unregulated casino where the unchecked criminals run riots.’’ However, a paper published by the economist and professor Edgar L Feige says that the majority of the crime is financed by cash-not cryptocurrencies. The Europol and the United States Senate also prove him wrong. His attack on Bitmex was based on the fact that the exchanges are unregulated businesses. For this reason, he noted:
“Hayes has denied this, but because BitMEX is totally unregulated, there are no independent audits of its accounts, and thus no way of knowing what happens behind the scenes.”The Economist Nouriel Roubini believes that BitMEX only operates in the United States but in reality, it turns out that the exchange is not ‘’totally unregulated.’’ Every business decides to open where the laws are most convenient. This means that the exchange is not illegal and this has always been the case. There are also many companies and corporations around the world who pour money into Swiss accounts for example where there are low taxes. Roubini kept on saying that BitMEX supports up to 1:100 leverage and that these operations can be very harmful. In many cases, the clients of the exchange could end up in transactions without being aware of the risks:
“Arthur Hayes, boasted openly that the BitMEX business model involves peddling to “degenerate gamblers” (meaning clueless retail investors) crypto derivatives with 100-to-one leverage…It is little wonder that, according to one independent researcher’s estimates, liquidations at times account for up to half of BitMEX’s revenue.”As reported previously in the latest cryptocurrency news, Arthur Hayes has still not responded to these accusations.
Blockchain In Healthcare To Reach $1.7bn By 2026: Report
"The Asia Pacific is expressing the fastest growth for the blockchain in healthcare market due to the presence of huge opportunities and the presence of fastest growing economy. Japan is an important blockchain in healthcare market, with a mature market, large population, completed infrastructural facilities and high-leveled skilled labor. During last few decades, Japan has emerged as a country for the origin of new and advanced technology. The Japanese government has supported a number of companies to introduce the new technology. Japan accounts for roughly 40% of the global market for sensors, which is a central component of IoT technology," the report notes.The latest cryptocurrency news show that the rate at which blockchain is adopted is more than just impressive.
Tor Internet Privacy Project Launches BTC Donation Fund
‘’I will always remember how @BtcpayServer facilitated the #weareallhodlonaut fundraiser. Now they are powering a super important fundraiser for @torproject If you value privacy and online freedom, please consider donating!’’The official website noted that the funds which will be gathered from the campaign will go directly to the Ledger Nano S Wallet address of the project with no fees or intermediaries. There is also a video on the website which explains how Tor works and why people should use it in order to be safe on the internet. The advantage of donating in BTC is that there are no rounded up figures that you must donate so everyone can donate what they can afford. There are no banks or PayPal like intermediaries as well. The team is on their way to reach the $7,000 goal after more than 200 contributors donated to the project. Two of the contributors even donated more than a thousand dollars in bitcoin. The awareness through media exposure will also help the campaign since the compassion or this project is really high. In only one day, 65% of the target was already gathered. BitPay also tweeted a couple of hours later that a third of the donations arrived with the help of the Lightning Network:
‘’36% of donation amount via lightning network. Quake sounds played in the crowdfunding is making 10 donations of 5 USD via lightning way more satisfying than making 1 donation of 50 USD. Only possible via lightning!’’As noted in the best cryptocurrency news sites, the company is a non-profit one and relies only on donations.
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