The technological revolution continues. The past year has been full of events that confirm that more and more hopes are associated with Blockchain technology. The Marshall Islands introduced the cryptocurrency as the official state payment instrument, and work on the implementation of distributed network technology intensified, among others Facebook, while the investment bank has been settling and brokering futures contracts based on Bitcoin since May.  This is what the Crypto News deutsch can offer you now.

The Matter of Importance

As the most important event of this year, the president of the foundation indicates the decision of a small state in the Pacific. In February, the Marshall Islands became the first country in the world to introduce cryptocurrency as the official state payment instrument. The currency named Sovereign will be issued in the amount of 24 million units. 

First of all, it should be noted how the reception of virtual currencies has recently changed dramatically by lawmakers in the world. Only a few years ago, the very idea of ​​introducing a state cryptocurrency would be considered a manifestation of madness. Now the virtual currency becomes the motto for the first time. This entails a number of consequences, also important. Our country, bound by international standards, will have to adjust its legislation to support virtual currencies. There are signs that the Marshall Islands are the first, but not the only, country that will decide to do so.

Big companies reach for Blockchain

Another important trend is the introduction of blockchain solutions by large global companies and important Polish enterprises. In 2018, work on the implementation of distributed network technology was intensified by such global giants as Goldman Sachs or Facebook. 

This year the largest bank in the city in terms of assets, has introduced a system based on Blockchain, which allows incomparably better information for customers about changes in the regulations. The fact that even the banking sector, for which security issues should be absolutely priority, decides to such solutions, should make everyone aware that this is a safe technology. The unfounded allegations that Blockchain is a financial pyramid are not good.

The Finest Development

The development of Blockchain technologies is also evidenced by the activities of investment funds. This year, Sequoia Capital, a legendary fund investing in iconic companies like Google, Apple and Oracle, has invested US $ 400 million in Bitmain, one of the leading companies producing Bitcoin excavators. A similarly high amount, USD 300 million, was devoted to the development of virtual currencies by the American fund a16z Crypto, belonging to the giant from the venture capital market. The popularity of investment in Blockchain in 2018 should not surprise. This technology, behind Bitcoin, is now one of the main investment trends, along with artificial intelligence, augmented reality and robotics. Thanks to this popularity, the companies were given a powerful boost of finance. On the other hand, it created a lot of speculation, which we could see on the course of Bitcoin.

With rapid technological development and an increase in economic utility, speculative activities are usually to be expected. This year’s Bitcoin course is worth considering as a correction of market value. Let us, however, look at these results in a wider aspect of time. Compared to the purchase price of Bitcoin in 2016, this currency brings 320% of profit, taking into account today’s market price.