Could Blockchain Reawaken Gold’s Role as a Payment?
A research report by Celent has looked at whether or not gold could be brought back as a means of exchange through bitcoin’s underlying technology, the blockchain. The report, Micro Gold: Assessing the Use Case of DLT and Physical Gold, determined that the blockchain could transform the way gold is utilized as a form of currency, delivering the benefits associated with bitcoin. According to senior analyst in Celent’s securities and investment practice, John Dwyer, a currency needs to have three qualities, reports EuroMoney. These are a store of value, a medium of exchange, and a unit of....
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With the launch of its new Bitcoin Fund LP, Anthony Scaramucci's SkyBridge Capital makes the case for bitcoin over gold. The post SkyBridge Capital Says That “Bitcoin Is Better At Being Gold Than Gold” appeared first on Bitcoin Magazine.
Galaxy Digital’s billionaire CEO told CNBC he’s shocked at the speed of cryptocurrency adoption. Galaxy Digital CEO Mike Novogratz believes Bitcoin (BTC) is on track to meet or exceed gold’s market capitalization amid a rapid wave of retail and institutional adoption of the digital asset. In an interview with CNBC’s Squawk Box, Novogratz said cryptocurrency “adoption’s happening much faster than I predicted,” adding that “it’s shocking to me how fast people are moving into the system.”Novogratz, who has been involved in Bitcoin since 2013 when the digital currency was valued at around....
In serving as a record for every bitcoin that has been generated and transferred between parties, the blockchain has a critical role to play. Each cryptocurrency has its own blockchain, so it becomes very important to be able to use it correctly in order to maintain its quality and credibility as a value exchange network. For me, I originally sought out blockchain for a project that would transform the online database functionality powering our online invoicing and payment system, which included the directory of users, their staff, and their clients. Because of the complexity of keeping....
Given the important role that charities and not-for-profit organizations play in society, the benefits of blockchain technology have just as much relevance to this sector of the economy as any other. The Charities Aid Foundation (CAF), a U.K.-based organization, has taken a pioneering role in exploring how blockchain technology can improve the governance of charities and not-for-profit organizations. The fact that a U.K. organization would take a leadership role in this area is not surprising, given the fact that the U.K. is one of the few countries to have dedicated governance of this....
It is no secret that established financial institution will have to come up with new and innovative forms of payment over the next few years. Even though many institutions have tried to delay this change for as long as possible, banks around the world are looking to increase the amount of funds being spent on the development of new payment technology. Blockchain technology will – most likely – play a big role in the process. According to a recent Finextra article, traditional financial institutions have finally seen the light as they will increase spending on new financial technologies....