Displaying items by tag: bitcoin

Bitcoin has grown rapidly in 2017 and its grabbed the attention of industry leaders and CEO’s, including Facebook founder Mark Zuckerberg. In January, Zuckerberg released a comment that indicated that Facebook will be looking to research and potentially adapt Blockchain technology.

Evident concern on the volatility and the unforeseeable future of cryptocurrency exchanges have caused the South Korean government to take heightened steps to further inspect new crypto-trading accounts due to an “overheated market” and a number of money-laundering cases. The announcement of this act alone was followed by a downward spiral of 11% in Bitcoin's value.

The recent hype around Bitcoin continues to bring uncertainty to the financial stability of countries. Whilst some countries are accepting Bitcoin others are rejecting it and the threats that they perceive it holds.

China has long seemingly been opposed to all things crypto, having previously banned ICO’s and virtual currency trading. However, in the latest development of China’s war on crypto, it is now reportedly set to shut the Bitcoin mining industry.

Profit at China's Big Five banks is declining as the popularity of internet banks such as WeBank grows. Can China's banks find their place in the new fintech world?

With the craze surrounding Bitcoin, many are concerned that the crypotcurrency’s price is over valued and a result of too much hype. However, Blockchain, the technology behind Bitcoin, is captivating the attention of many and is widely regarded as the future of technology. So much so in fact, many countries have already launched or begun looking into the possibility of creating their own Blockchain based, state sponsored cryptocurrencies.

With Bitcoin recently hitting an all- time high of $14,000 USD on December 7^th 2017, many have been asking questions about whether the cryptocurrency’s price will continue to rise in the future or if it is simply a speculative bubble waiting to burst. The currency has risen by over $13,000 USD since the 1^st of January 2017, a remarkable, and for some unfathomable surge considering it has no tangible assets or value at its core.

The Indian central bank, the Reserve Bank of India (RBI) is considering the possibility of introducing a fiat cryptocurrency in the country.

There has been significant news published in the last week regarding regulation around initial coin offerings (ICOs) especially around the Chinese Government's position on ICOs in China. Finally, at 3.00pm, September 4^th this Monday, seven important Chinese government departments including the PBOC, issued an announcement to stop any ICO transactions and defined ICOs in China as illegal fund raising. Strict ICO regulatory is the right choice but is this ‘One-size-fits-all Policy’ the right answer?

The crypto space is evolving rapidly, from bitcoin in 2009 to over 900 different crypto-currencies in 2017. The space is emerging and developing at an exponential rate. Blockchain technology has been following a similar trend with more and more potential uses being found every day. The potential for innovation is endless, this is only the beginning.