Blockchain – Cutting though the current
noise of cryptocurrencies
While 2017 saw the market focus on
bitcoin’s price, 2018 will be the year that other
cryptocurrencies take centre stage , possibly
even backed by local reserve banks.
Just one year
ago bitcoin comprised 90 per cent of the
cryptocurrency market by value; today it is less
than half. Expansion of the currency has
ushered in new economic challenges and
costs.
More importantly, cryptoassets will also
begin to make inroads into the processes of stock
exchanges and central banks. If central banks can
use crypto-assets to create a proper retail-
oriented digital currency, they may transform the
way monetary policy is conducted. In practice,
that might prove too disruptive to commercial
banks , but do able , just like the telecoms
companies changed from cable telephonics
to mobile transmission masts which today handle
5g with ease.
However, a central bank ‘Fedcoin’ that is
limited to wholesale settlement between banks is
not far of. Possibly President Trump will action
such a ‘coin’ , thus ones andriod will
become a true universal wallet , go anywhere ,
pay anything – a no boundries
instrument.
EU Forecast
euf:b18:22/nws-01