M^5Wire >> April 13 : Price Rally, Banks on Defensive, Mass Adoption
TODAY'S COMMENT: Crypto price rally coincides with banks explaining themselves before Congress and seemingly exponential development in blockchain.
Overall Crypto Market ...
...Is very positive with Bitcoin leading a couple of weeks of sustained price rally.
Crypto-specific Players
LN, Ethereum, Ripple, and EOS, are all making headlines. The focus is shifting from claiming a place in the market toward getting noticed for everyday use.
The Lightning Network, contrast to its name, is moving like a turtle. Though, LN recently hit a BTC milestone and several proponents are working to make it more user friendly.
Ethereum seems to be taking a steadfast approach as a corporate solution. It is user friendly, maybe more so than any other blockchain, but will it maintain true decentralization. After all, its founder brought up the idea of instituting fees not too long ago.
Ripple, while it has not plateaued, does exhibit some contentment as a bank partner.
EOS is getting a head of steam (Steem is another blockchain:). For developers and creative projects, there may be no better solution. As EOS grows, its advantages will become clear. If nothing else, the EOS community will grow into something very special.
Corporate Influence
60% of leading corporations are turning to blockchain. That's quite a big statement. Also, IBM is again in the news with its Alberston's partnership. Blockchain that improve grocery stores will certainly have an impact. Imagine if food becomes more affordable. People will quickly realize what blockchain is capable of.
Emerging Projects
As far as a blockchain for new projects (opposed to solutions) EOS is really exciting. EOS and platforms like LiquidApps are hitting the accelerator on a vehicle that made Ethereum so popular. When the advantages of dApps become apparent to the world as a whole, there should be a shift toward blockchain on a scale like never before.
Additional Comments from Today's Flyby
While the SEC Chairman seeks to keep focus on regulating cryptos, big banks testified before Congress [video]. Among their statements were their insistence that they have changed since 2008 and disagreement over the advantages of crypto.
In the aftermath of the US SEC Scheduled Public Forum on Blockchain and Cryptocurrency a bill is heating up that may alter the SEC's course. If passed, the Token Taxonomy Act would:
...exclude digital tokens from the definition of a security... tax exemption for exchanges of one virtual currency for another...
Seems like pretty straightforward opposition to the SEC's agenda over the past year or so.
M^5Wire objectives include:
- speedy, absorbable read
- overview/brainstorm of current events related to blockchain, crypto, and fintech
- commentary and insight that is absent of bias and predictions
- adds sustainable value to the web and the investigative pursuits of readers
- considers a global aviation perspective with emphasis on GA economics
How Can I Improve?
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