The crypto sector is just large patent source for the Wall Street
October 23, 2018 @ 17:28 UTC
Another week of lower activity is on the crypto market. The Bitcoin’s volatility during the recent month is close to the scope of Apple stock price fluctuations (the BTC’s 31.5% against Apple’s 29.3%). Someone thinks that the market grows up while other participants see a massive loss of interest and faith in the sector in general. However, a period of stability and calm can very easily be replaced by a “roller coaster”, in the case of new triggers emergence.
As previously predicted, the leading financial companies began to implement blockchain technologies in their operational processes. Recently Visa has announced that the B2B Connect product for customer identification and tokenization of important business customer data as a part of international bank transfers is ready. Ultimately, the updating of the protocols for the interbank interaction will lead to cheaper and faster processes.
In addition, there is still a high demand for security, which is quite possible to be done on the blockchain, considering all the previously accumulated experience. The traditional banking sector with its powerful resources and infrastructure has already been taking the best from the new technology. From this perspective, the entire crypto sector is a large patent source for the Wall Street.
However, the cryptocurrencies still have several big advantages: low commissions because of the weak demand and greater opportunities for anonymous funds transfer. Everyone understands that there is no need in thousands of cryptocurrencies. Moreover, even a dozen may be too much. The market may be divided by analogy with Internet websites: 60%-80% for the leader, 20-30% for number 2, and all the rest are satisfied with the fractions of a percent. However, several cryptocurrencies can exist like monetary surrogate, perhaps they can even be widely recognized in the global financial system.