The Recent Ranking for Crypto Currency by China led CCID Research Institute!!  

The major cryptocurrencies like Ethereum, EOS, Nabulas  have been ranked closely each other with Ethereum and Nabulas follows EOS that received the top rank for the second time while the rating done by China’s CCID Research Institute. As per the CCID study, the EOS has been the mainstream amongst all the cryptocurrencies in Blockchain industry.

 

When we talk about the research institute – CCID which is backed by the Chinese government that carries out its assessment regarding Global Public Chain Technology. The excerpts (through the translation into English) from the CCID’s website as follows:

 

“The global public chain technology assessment work was organized and implemented by the CCID (Qingdao) Blockchain Research Institute. It was jointly carried out by a number of units including the CCID Think Tank under the China Electronic Information Industry Development Research Institute and the China Software Testing Center. The purpose is to scientifically assess the development level of global public chain technology.”                                                                                                                   

The recent ranking done by the CCID as on 17th May 2018, the major cryptocurrencies ranked in chronological orders are EOS is followed by Ethereum, Nebulas, GXChain, NEOStellarSteemLiskWavesKomodoBitSharesDASHRippleIOTAArk, etc.

The project at CCID was bifurcated into three categories ranging from technology to application to innovation. Let us discuss about the three prominent cryptocurrency that have priority over the entire ranking as follows:

 

EOS has seen many setbacks just in the past month. However, this crypto has reflected its impression through a variety of consensus algorithm by using a delegated proof-of-stake (DPoS) that has acquired priority over the scale and speed at the expense of some decentralization.

 

Now at the second rank, Ethereum that uses a proof-of-work (PoW) consensus algorithm. However, just recently this crypto has executed its roadmap to transition to PoS. The developers of Ethereum are constantly working to resolve the project’s scalability issue.

 

The third one crypto Nebulas that was founded in Singapore in 2017 by Nebulas IO Foundation ranked sixth on the previous rankings, however, in 2018 it has got rank third. The enthusiasts of Nebulas call the project the new “Google for Blockchain”.  It contains a variety of projects like a search engine and upgradeable smart contract capabilities. The major difference between the Google and Nebulas is Google is inclined to day-to-day searches, on the contrary Nebulas focuses specifically on searches throughout decentralized applications, users’ blockchain assets as well as smart contracts.

East African Island’s inclination towards the Blockchain Technology

The Blockchain technology has become a hallmark for the industry globally.  A recent scenario reminisces about how blockchain technology adds value to the East African island nation’s state-owned company State Informatics Limited (SIL) by helping them digitize its government and financial services operations. Besides this, a variety of industry like, educational institutions, utilities and transport, port operations are among the industries that have started gaining the value of Blockchain technology.

As per the valid source of South Korean media – Digital Daily, State Informatics Ltd. is more inclined to utilize blockchain technology assisted by Locus Chain Foundation which is one of the renowned South Korean companies. It is also said that a South Korean blockchain company has executed a deal that is expected to offer fintech solutions to the government of Mauritius.

If we talk about the company, State Informatics Ltd may extensively utilize the blockchain platform as the company has already started implementing digitized solutions for government bodies in Zambia, Ghana, Kenya, Senegal, Botswana.

On the other hand Locus China that assists companies that would like to use blockchain technology has been active in Mauritius since early this year. Just a last month the company signed a technology cooperation agreement with the Mauritius government to allow for the new generation application called ‘Blockchain Technology”. The technology adds value by streamlining end-to-end transactions in seconds.

As per the most valid source, Locus Chain announced the agreement that it has executed with the Tunisia Economic City which is a joint project worth of USD 50 Billion with Saudi Arabian and Tunisian that will be the biggest smart city in the Mediterranean region that covers 90 square kilometers. Accordingly Locus Chain, the blockchain technology will be used in the city construction project and its products will be used as a base technology with settlement currency for a variety of industries like communication, shopping, finance, medical, etc.

 

The Major Crypto Currency – Bitcoin has scaled up now!!  

The recent scenario reminisces about how Bitcoin has scaled up over the past month. On the contrary, Ethereum recovered just below 15% in the same period whereas Ripple gained up to 16%. However, the growth of Bitcoin Cash obstructed despite having the better features compared to Bitcoin in terms of scalability and speed – two major parameters.

 

Investors’ superfluity towards Crypto based ETF

 

There are a number of fundamentals that significantly play the higher performance of Bitcoin as compared any cryptocurrency. Now that SEC-regulated cryptocurrency called ETFs are expected to enter the market soon, more and more fund managers are in rat-race to introduce their own cryptocurrency based ETF to raise capital from the institutional and accredited investors. However, the Security and Exchange Commission (SEC) is yet to approve the crypto-based ETF. The major benefits of crypto-based ETFs are that they are liquid financial instruments. They could be easily traded without paying transaction fees.

 

While doing portfolio planning, it is recommended parking capital with crypto based ETFs as it is one of the safest ways for unregulated crypto funds that the institutional investors have in their portfolio. So the accredited investors are awaiting to welcome the arrival of crypto based ETFs soon. This will definitely prove to be the new asset class that gives a boon to other crypto currency like Altcoins.

 

Corporates’ inclination towards using crypto currency – Bitcoin

 

Now that the blockchain industry has been omnipresent amongst the investors and corporates community world-wide, the major credit card company – Mastercard won a patent to manage the ‘fractional reserves of block chain currency’. The concept is as simple as it allows Mastercard users to execute transactions using as currency.

 

The major benefit to use cryptocurrency through the credit card is that it speeds up the payment process. For example, the Bitcoin led transaction takes around ten minutes to process. Let’s us not forget that the configuration done by Mastercard would allow the transactions done as quickly or directly as possible. It is expected to incorporate the Bitcoin based transactions almost in all transactions going forward.  The major benefit for the Master card to use Bitcoin except other digital coins available in the market is that the Bitcoin allows peer-to-peer transactions that makes transactions decentralized. We may also expect the other credit card majors will start using the same model to the extent that the Mastercard’s model is successful down the line.

The geo-political factors between the two geographies

The US and China trade frictions are well-known that have led the fluctuation in prices of crypto currencies worldwide. The people have observed this movement by looking at the change in Bitcoin’s price and the devaluation of the Chinese Yuan. Let’s not forget that the devaluation of the Yuan mainly caused by the US trade threat that has had Chinese investors to exchange their Yuan versus Bitcoin and not versus traditional currencies due to the limitations prevailing in the foreign exchange operations in China.

Needless to say that if the present geopolitical condition persists between the two countries – USA and China for a longer period of time, the Bitcoin prices are expected to hike thereby allowing Chinese investors to be a part of foreign holdings in an off-regulated cryptocurrency even though the trading in the cryptocurrency like Bitcoin is not  allowed in China.

The aforesaid factors clarify as to why the Bitcoin outperforms compared to the rest of the crypto currencies in the market. On the whole, Bitcoin leads the market despite the fact that altcoins offer more innovative and appealing features from the technology point of view.

Bitcoin Exchange Traded Fund (BETF) has started its journey finally

Bitcoin Exchange Traded Fund (BETF) has finally begun its journey. As a publicly-traded instrument, the BETF will impact positively not only as it comes with crypto leader ‘Bitcoin’ but also it will initiate the flow of capital from accredited investors to retail traders especially in the US public market. Needless to say that BETF will prove to be the responsible one that protects the capital provided by investors.

The major benefits of Bitcoin led ETF are tremendous. Because all those investors who were not inclined to park their capital with Crypto Currency market (just because of complexities involved on the legality perspectives) are better off to invest into  Bitcoin Exchange Traded Fund (BETF). Besides this, BETF allows investors to acquire BTC to their portfolio when it comes to doing retirement planning.  The major applause that comes from analysts, investors, consultants from the capital markets as well as crypto-currency markets towards the arrival of Bitcoin led ETF.

But because the new concept has been introduced to the market, the BETF is expected to begin a journey next year in 2019. Having considered the relevance of BETF in the US public market, the Chicago Board Options Exchange (CBOE) (a one of the world’s biggest options exchanges with CME Group) has already filed the application for Bitcoin ETF with the SEC to introduce BETF to the capital market in the USA. Let’s not forget that earlier the US SEC rejected the BTC ETF having said that there were no proper regulatory frameworks around the cryptocurrency exchanges and no monitoring system organized by any financial institution as to how the crypto markets traded. However, the improvements have been seen over the last 12 months in cryptocurrency have led Chicago Board Options Exchange to analyze the positive impact of its BTC future market on the cryptocurrency sector globally.

Even though investors are skeptical for a Bitcoin led ETF until the end of 2018, the most likely result of the approval BTC ETF for CBOE is expected because of the strong efforts done by the Gemini, SolidX and Winklevoss twins.

Let’s hope for the best for the upcoming trading with Bitcoin ETF!!

The Money Supply Of The United State Of America Can Be Streamlined To The Extent That Bitcoin Mined At Certain Level

The world largest economy the U.S. may overhaul its money supply containing paper currency, cheques, and coins if crypto-based bull market accelerates its speed. According to the UBS – a global banking giant advises the crypto bull rally that they have to trade patiently while keeping in mind the real facts about the U.S. money supply. The crypto major Bitcoin must trade at  $213000 precisely if it really adds value to the US economy.

Because in the present scenario where Bitcoin is unstable and limited and cannot be feasible through which that can be used as a means of payment for any global transactions. Nor does it gets accommodated in any asset class as said by UBS.  When we compare Bitcoin with other payment methods like VISA, Mastercard, the Bitcoin can be recognized as payment options only if it adds its network capabilities that it currently lacks the processing power in order to handle multiple transactions at once.

The crypto major will struggle until it fixes this problem in place. Only then it will widely be accepted by everyone and thereby fuelling its growth. With this, the major concerns with the Bitcoin are its extreme volatility that creates a complex situation for its growth and wider recognition as per the valid source by UBS. Additionally, the unusual demand and fixed supply of the crypto major make the system vulnerable to higher price volatility thereby making it difficult for Bitcoin to be considered a new asset class. Needless to say that the year 2018 has been frustrated for Bitcoin as it has lost more than half of its value approximately $20,000 since December last year.

Amongst all these complexities, the Bitcoin initiated a rally by rising above $8000. This is a good signal amongst all those cryptocurrencies that are traded on worldwide exchanges.

Let us not forget that there are more than 1750 cryptocurrencies (as per CoinMarketCap) are traded currently. Now that the blockchain technology and the crypto concept have started gaining its footprints amongst the worldwide investors and entrepreneurs community, there is a variety of mechanism requires to be in place for the perspective to gain a competitive advantage against the traditional payment methods in place!!