Prediction: Blockchain Technology and Cryptocurrency Will Overturn Global Finance
Last week, a meeting of central bankers hosted by the International Monetary Fund (IMF) and the Swiss National Bank was held in Zurich, the ninth meeting of such meetings. It is worth noting at the meeting that representatives of financial technology companies participated for the first time. They boldly predict that blockchain technology and cryptocurrencies will subvert global finance. Unsurprisingly, central bankers did not believe it, but they did not immediately deny the claims of financial technology companies.
Although central bank governors in almost all emerging market countries are concerned about the pain caused by dollar dominance, no one predicts that such domination will soon disappear. So when they heard the Fintech forecast, the central bank governors were not convinced.
At 5th ASEAN Regulatory Summit, it released seven trends transforming regulation in ASEAN. The last one is that technology and mature regulatory frameworks are realizing the potential of crypto assets. Much has been written about the recent rise and fall of crypto assets. A lack of regulatory oversight, as well as divergence between jurisdictions, contributed significantly to this. As RegTech advancements enable firms to access previously unavailable KYC information, and as regulators create more informed and pro-market policies, investors are viewing crypto assets as viable investment classes.
Focusing on the current bitcoin market, recently it has been floating around 8,000 dollars all the way, and confidence in the blockchain and cryptocurrency industries has been boosted.
According to the latest news, BOINC, the world’s largest computing network platform, announced that it will soon carry out blockchain transformation. Once formed, this could be the world’s largest blockchain application project in 2019.
Through the positive signals released by the blockchain and cryptocurrency, the new dawn seems to be appearing in the public. All you have to do is open your arms. Why not?
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