The Coinbase exchange CEO Brian Armstrong predicted that the number of people that join the ecosystem will grow to 1 billion in the next five to six years.
Armstrong says that crypto ecosystem and also the total number of digital currencies will grow immensely and this will lead to the growth of commercial organizations that will develop their own tokens. These tokens should work together as an alternative investment system. Armstrong continued:
“It makes sense that any company out there who has a cap table should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their own tokens.”
He addressed that the issue of regulation is currently one of the most important factors for his prediction to come true and noted that it will yet be seen whether the majority of tokens will be recognized as securities. He added that Coinbase has the ability to host hundreds of tokens maybe even millions in the near future.
Coinbase acquired securities dealer Keystone Capital Corp in addition to Digital Wealth LLC and this could potentially help the company to expand into non-crypto products as well. Also, the company acquired securities in order to become a fully-regulated broker that will offer services such as crypto securities trading and over-the-counter trading. Just yesterday, Coinbase announced it will bring four more cryptocurrencies for the U.K pound so British customers can trade altcoins for GBP.
The Market Is Still Dominated By Centralized Exchanges Despite The Increase In DEX
Saudi Arabia And UAE Officially Launched A Pilot Cryptocurrency
‘’The virtual currency relies on the use of a distributed database between the central banks and the participating banks from both sides. It seeks to safeguard customer interests, set technology standards and assess cybersecurity risks. The project will also determine the impact of a central currency on monetary policies.’’The financial institutions in the countries have thoroughly studied the blockchain technology and are hoping to have great benefits. Back in December 2018, UAE’s Securities and Commodities Authority recognized ICOs as securities and they also announced to be working on a regulatory framework for 2019. UAE’s Emirates Islamic Bank also tested the blockchain and even started submitting cheques on a blockchain named ‘’Cheque Chain’’ and since it has proven to be successful, the bank registered one million cheques in 2018 in only a month.
UN Thinks Bitcoin & Crypto Are “The New Frontiers” In Finance, Focusing On Ripple And IOTa
“Cryptocurrencies represent a new frontier in digital finance and their popularity is growing. The decentralized networks for cryptocurrencies, bitcoin being a well-known example, can keep track of digital transactions. They enable value to be exchanged and can give rise to new business models which would otherwise require significant regulatory and institutional commitments." the report states.According to the UN, blockchain and crypto have many use cases. As it is explained in the document:
"For example, a value token called ClimateCoin is being considered as a basis for creating a global market for carbon emissions, allowing peer-to-peer exchange of carbon credits and a direct connection with the Internet of Things. It would then be possible for devices to calculate their own carbon emissions and purchase carbon credits to offset those emissions."The document also focuses on innovation and how it comes from inherent trust, citing that "the innovativeness of this system lies in the way in which the various parts combine to create the trust and guarantees that the traditional financial system derives from institutions and regulation."
“Bitcoin Is The Only Blockchain That May Exist For The Next 100 Years” : Alistair Milne
“The probability that Bitcoin matches its ATH [all-time high] price again and doesn't then continue past it seems very low. Each wave of adoption is an order of magnitude bigger than the last,” Milne wrote in the Twitter thread that he started on Saturday.Meanwhile, Bitcoin suffered another drop which took it below $3,500, giving less optimism to traders hoping for a new bull run. The new downturn has led to many accusations from high-profile economics figures. However, Milne continued expressing his optimism and said:
“The next bull run will decide which public blockchains persist for the next 100 years. I believe Bitcoin is currently the *only* sure thing[.]”Aside from this, Milne also highlighted the interest by institutional investors and labeled Bitcoin's profile as the "gold 2.0" in the next round of adoption.
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- Bitcoin ATMs Number Keeps On Increasing, The Question Is Why?
- The Market Is Still Dominated By Centralized Exchanges Despite The Increase In DEX
- Saudi Arabia And UAE Officially Launched A Pilot Cryptocurrency
- Justin Sun Proves Crypto Is Not A Scam By Hiring A Former SEC Official
- UN Thinks Bitcoin & Crypto Are “The New Frontiers” In Finance, Focusing On Ripple And IOTa
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