Welcome to this week's Digital Bytes which has analysis on the following topics:
How many more countries will make Bitcoin legal tender? - El Salvador has recently made Bitcoin legal tender and claims that 70% of its citizens who were previously unbanked now have digital wallets, thus making more people in the country financially included. In just 45 days this is a massive achievement, but will it encourage other countries to consider following El Salvador’s lead?
Blockchain’s utility season - this article argues that, while a ‘utility season’ for Blockchain technology may seem a far way off, it is in fact right around the corner - it only seems distant because we are currently in the ‘blind valley’ of exponential growth of a network technology. The article goes on to provide a more concise definition of utility token, itself being composed of two separate aspects: the ‘intrinsic’ and ‘extrinsic’.
Crypto Crashing: the test of endurance - for Bitcoin, dip isn’t unusual; cryptocurrencies are volatile and fluctuate from time to time. As rapidly as prices rise, they can tumble back down. For instance, Bitcoin went as high as above $64,000 in April 2021 but about three months later the cryptocurrency had lost more than half its value, diving to below $30,000. The volatile nature of cryptocurrency attracts traders looking to make profit but it is nail-biting, especially for new investors. Because of this, it is important to consider if you can handle the fluctuation before investing in Bitcoin or any other cryptocurrency.
Frontier challenges: bringing cryptocurrency investment to mainstream asset management - with more hedge funds and institutional investors participating in the cryptocurrency markets, questions are being raised about the infrastructure that underpins these markets. Whilst many large investors would like to allocate more to the asset class, they are worried about some of the operational issues which crop up.
In this article, Dave Shastri, Chief Strategist at hedge fund technology platform, Truss Edge, looks at what changes may still be needed for the cryptocurrency markets to be able to interact integrally with those existing financial structures in place for larger allocators. With many new fund launches coming onto the market (keen to act as a bridge between large investors and digital assets), resolution of many of these problems is urgently needed.
The Digital Assets domain, raising funding through tokenisation is rapidly developing. But will these new tokenised financing solutions be able to really help organisations when it comes to raising capital?
Teamblockchain is delighted to be working with 2Tokens in Holland and would be most grateful to get your input on the attached short questionnaire. We would appreciate your thoughts and experiences about 'tokenised financing’, as they are very valuable for the further development of the tokenisation field.
This should only take 5 minutes of your time and will greatly help the further development of the market and related products. No prior technical knowledge of tokenisation is needed.
This is the link to the survey - https://docs.google.com/forms/d/e/1FAIpQLScuKyaak-r4BK1X0SgqVPPoMWe_F1ejuZqBjs9lrEe7HqXHpg/viewform
Thank you for your time and we will be publishing the results from this PanEuropean survey once all the submissions have been analysed.
Jonny Fry / James Tylee of Digital Bytes by Team Blockchain on Cyber.FM 26th January 2022 ft Dave Shastri, Chief Strategist, Truss Edge