We’re Going Mainstream, Baby!
Deutsche Bank report sees mainstream digital currencies within 2 years
Hola Blockfolians,
The Lede
Mainstream digital currencies within two years? That’s the word from a new report from Deutsche Bank. Calling out specifically the likely launch of Facebook’s Libra and China’s digital yuan, the report says that digital currencies have already shown ‘potential to radically change payments, banking, central banking and the balance of economic power.’ Then again, they also said that bitcoin is too volatile to be a store of value, so maybe the digital currency future they’re seeing isn’t quite the one we imagined.
What We’re Reading
🔐Tezos as the choice for security token platforms? - Tezos was quietly one of the best performing cryptoassets of last year, and there is a growing narrative around the protocol particularly around tokenized securities. Case in point: Vertalo, a platform that issues and manages digital securities, has made Tezos its default blockchain and is encouraging customers to switch.
🧹Clean up act - The more normalized crypto trading becomes, the more governments are going to want to be able to step in around security and crime. Evidence: a UK court has ordered Bitfinex to freeze $860k worth of bitcoin linked to ransomware. More evidence: Ukraine has announced formal plans to monitor crypto transactions over $1,200 USD.
🇸🇦Big money into blockchains - The investment arm of one of the world’s biggest companies Saudi Aramco has made a $5m investment in a “commodities post-trade processing” platform built on the blockchain. On the one hand, sounds like the enterprise blockchain hype we’ve heard for years. On the other, there is some serious money making a serious bet.
A Really Big Number You Should Be Paying Attention To
9000!
We did it! Last night (USA time, at least) Bitcoin punched up over 9000 and has stayed there (or close) ever since. Interestingly, the much vaunted Vegeta meme seems to have finally fallen by the wayside.