Home Business Insights & Advice A glimpse into Blockchain’s disruptive nature

A glimpse into Blockchain’s disruptive nature

by LLB Reporter
15th Jun 18 9:12 am

 

Read on for more

 

The blockchain is still in its infancy years, yet it has already captured the interest of individual investors and institutions. There’s a reason why many consider it the most important revolution of this generation, as it has the potential to disrupt virtually any industry under the sun. The drop-in prices of cryptocurrencies don’t reflect the disruptive nature of blockchain, but it’s clear that different sectors are looking for ways to leverage this revolutionary technology.

Just how big is Blockchain?

According to a report by the World Economic Forum, 10% of the 2025 GDP will be stored on blockchain-related technology. The potential is simply limitless, and any entrepreneur should take notice of blockchain or risk falling behind the competition.

Blockchain technology is a simple yet revolutionary protocol that enables fast, secure, and anonymous transactions by keeping all data in a tamperproof public ledger. This ledger serves as an immutable database of digital assets. It can be used by any party involved to verify transactions without any reliance on third parties such as banks or governments.

The implications of blockchain go beyond financial services. It can have a lasting impact on any industry. Programmers, bankers, venture capitalists, and governments are currently looking into blockchain and how it can transform their respective industries.

One of the most telling signs of blockchain’s success is the rapid surge in popularity of cryptocurrencies. Trading platforms like Bitcoin Code now hold record numbers as investors couldn’t wait to get their hands on the “money of the future.”

Bitcoin, Ethereum, and Ripple are just three of the most successful cryptocurrency projects, and more digital assets enter the market each year. Name an industry and there’s probably a virtual coin designed specifically to disrupt it.

Mass adoption on the horizon

When Bitcoin was launched in 2008, most people didn’t take it seriously. The volatile nature of the cryptocurrency had mainstream investors believing that it was all a fad. Blockchain also proves too complex for the average individual to understand. What’s more, it was difficult to imagine anything replacing fiat money as the primary medium of exchange. Fast forward to 2018, blockchain is at the core of every industry’s plan.

A recent survey by Thompson Reuters shows that 1 in 5 investment firms have plans of trading cryptocurrency. Major banks are also looking to set up their own crypto trading desk, following in the footsteps of Goldman Sachs.

Institutional investors are also on the verge of investing a ton of money in the cryptocurrency market. Currently, 200 trillion dollars are invested in stocks, bonds, gold, and cash. If these investors placed a mere 2% of that 200 trillion into cryptocurrencies over the following decade, the market valuation catapults by tenfold.

To encourage more investors to make the move toward the crypto space, several hedge funds have been founded that focus on trading cryptocurrencies. This may be the right option for mainstream investors who do not feel comfortable trading digital assets on their own.

With countless stories circulating online about new crypto-millionaires in 2017, more people are eager to get in on the action. Despite the bearish trend to start the year, plenty of things are happening behind the scenes that paint a bright future for blockchain technology.

Leave a Commment

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]