Since the first quarter of 2018 is now in the books (wow, that was fast) it seems a good time to point out a few (5) innovations traders will be looking at this year. Of course we can also check on the last three months on how its been going AND only have three quarters ahead to be wrong. Now, we are only talking blockchain projects NOT just the driver of digital assets (bitcoin, cryptos, etc). (Oh, by the way, at the end of 2017 bitcoin was $15K..........now under $7K. Wow) So, what are some of these blockchain innovations to look forward to? Well for one, cryptocurrency payment adoption so you can buy "stuff" with cryptos. Will cryptocurrencies finally begin to be accepted as a means of payment? Another, system integrity. Getting rid of the "middlemen" in transactions which drives costs down and derives better security as well. Then there's regulatory issues and how they will be addressed, banking adoptions and how fast the banks will embrace the blockchain technology and financial automation. Meaning brand new systems and platforms that are now being introduced across multiple sectors. Looks like an exciting rest of the year. Stay tuned and stay alert.
(Bill Taylor/Managing Editor)
"Blockchain technology was one of this past years biggest stories. For example, Bitcoin, the pioneer of cryptocurrencies, closed out 2017 at nearly $15,000. As Bitcoin’s popularity has grown, more blockchain innovations and cryptocurrencies have emerged from the shadows. Now, it’s nearly considered mainstream. Since then, investors and fund managers have flocked to blockchain for fintech.
However, blockchain is more than just something to drive digital assets. That’s why financial professionals need to pay attention to how their industry is changing. Now, here are five ways blockchain innovations will reshape the financial system.
1. Paying with cryptocurrency.
First, one of blockchain’s most exciting applications is its ability to facilitate financial transactions in a very different way compared to legacy financial systems like credit card traditional payment processors...
2. System integrity.
Second, the biggest upside for using blockchain is system integrity...
3. Regulatory concerns.
Third, for those interested in commercial finance, blockchain’s applications in cross border transactions are particularly exciting...
4. Mainstream banking adoption.
Fourth, large banks are already beginning to develop infrastructures to support the new assets and payment systems based in the blockchain...