DALLAS, TX / ACCESSWIRE / May 1, 2019 / Head of digital market assets at Credit Suisse, Emmanuel Aidoo, said that the desire among financiers to maintain the status quo is holding back the adoption of blockchain technology, Business Insider reported on April 23.
According to technology company IBM, the rate at which banks are adopting the blockchain is 'far faster' than originally thought. It found that 15 percent of the 200 global banks surveyed intended to roll out, full-scale, commercial blockchain products in 2017. Interestingly, it found that medium to large institutions, with more than 100,000 employees, were leading the charge. A further 65 percent are expected to have blockchain projects in production within the next three years. As the report states, 2017 appears to be the year when banking on the blockchain 'shifts from zero to sixty.'
Fintech firm R3 has announced that it and 22 of the world's biggest banks have created an international payments system based on the blockchain. A prototype of the solution is expected to be out by the end of the year.
Despite the near-daily calls for "Bitcoin to zero", the world's largest digital asset is consistently posting new transaction volume records. Since the creation of the first peer-to-peer, digital currency, a broad shift in the world of finance has become increasingly apparent: empowering the individual.
The finance industry of yesteryear was primarily focused on providing the elect with tools that deepened the divide between those in the know and everyone else. Financial power tools were hugely influential in the continued redistribution of wealth, not just in America, but abroad as well. The lingering economic divide between the privileged and the common man is the greatest it has ever been in the United States.
Decentralization took the world by storm, giving rise to a staggering $800 billion market cap in late 2017. Bitcoin may have been the first available digital asset, but today there are over 3000 cryptocurrencies, utility tokens, and tokenized securities. With the market cap today hovering close to $200 billion, it's no wonder than there is rising interest around the world in entering the space before the next massive bull run.
One Silicon Valley based company is hyperfocused on providing retail investors with a powerful, yet user friendly experience. Blockchange Digital Assets was founded in mid-2017 by Daniel Eyre and Daniel Rothrock nearly a decade after their time as college roommates. The company started out as more of a pet project but quickly evolved into a serious endeavor. "It became apparent pretty quickly that there was a need for what we had built, so we set out to scale it as a cloud product" says CEO, Daniel Eyre.
According to Eyre, there's a demand for technologies that enable everyday retail investors to participate in the market in a simple yet powerful way. "It's no wonder that most people don't have the time or energy to learn how to use new technical tools. People want simplicity but they also expect things to really work for them." BDA's platform was created to bring all investing activities into one place. The product aggregates data from all exchange accounts, news from around the web, and even enables users to make investment decisions in a few clicks.
Blockchange CTO, Daniel Rothrock details why the experience is different than other solutions, "We spent a lot of time translating decision making into actionable activities." Typically when investors make decisions regarding their holding distribution, that entails significant work on the part of the individual. With multi-asset allocations, the volume of trades can take upwards of an hour, even when the individuals knows what they're doing. BDA's proprietary optimization algorithms automate the creation of all buy orders, transfers and sell orders across all exchanges in order to execute the best path for users.
For more info about Blockchange Digital Assets, visit https://blockchange.ai.
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Shazir@imperium-Pr.com
SOURCE: SV Advisory Group
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