As the potential implications of blockchain technology continue to be explored various publications around the world are rushing to help advise members of the general populace on the best way to invest in this exciting new asset class. Banyon Hill publishing member Ian King has helped to write one of the world’s most popular crypto investment advisory columns, Crypto Profits.
Ian King Banyan has described the disputes between blockchain technology and the modern banking system is a pivotal point in history. He believes that this will be looked back on with as much significance as people look back on the Boston tea party today. Describing the introduction of decentralized currency as a significant paradigm shift in the world. Up until now all currencies around the world have been controlled by a centralized authority figure. The rise of blockchain technology marks the first time in human history that an individual has been able to create a decentralized store of value with no need for any intermediaries. Visit This Page for related info.
Perhaps one of the most significant aspects of this decentralized technology is that no data is stored in a centralized location, this allows no central figure to have access to this vital information. As a result, the systems built on blockchain technology are trustless in nature. As the public ledger systems are utterly immutable, everyone has access to the records of transactions. The long-term ramifications of this technology are massive. In less than a decade the most popular cryptocurrency asset Bitcoin grew in value from less than one 10th of a cent to over $10,000 an absolutely incredible rise in value. As members of the world financial elite begin to take notice of the value of these assets modern banking systems and corporations are partnering with blockchain technology companies.
Ian reports that on February 22 the annual report to the securities and exchange commission from Bank of America stated that cryptocurrencies a substantial risk to their current banking system. Not long after this J.P. Morgan Chase first recognized cryptocurrencies as risk factors for its business. In fact, now banks are beginning to develop their own versions of blockchain technology. For example, J.P. Morgan has designed a new version of the blockchain which is has called Quorum. Not only that but the recent acquisition of cryptocurrency exchange Poloniex by Bank of America signals a growing change in sentiment among the banking industry in regards to cryptocurrencies. As they continue to prove their value, it will be an exciting year in the world of cryptocurrency technology. Read: https://cryptoprofitsummit.com/my-private-conversation-with-crypto-expert-ian-king/