Initiative Is To Create a Cryptocurrency Future Where Moving the Value Across Gets Easier Like Moving InformationMay 29, 2019
Samuel Reed, CTO of HDR Global Trading, stated, “The potential of cryptocurrency has always energized our company. Our donation into research and development is about ensuring that the network is more robust. A stronger Bitcoin network will be beneficial to all, and we are very excited to be able to aid in its progress.”
The CTO was excited about their contribution towards MIT’s Digital Currency Initiative with goals streamlined towards digital currency initiatives.
The purpose of the initiative is to create a future where moving the value across the internet becomes as efficient as moving information.
A recent publication stated that investors think that the price of the Bitcoin will touch USD 2021, after which compare the value of cryptocurrency in terms of USD will not any longer be the norm. The currencies issued by the Central Bank will not be used to run the economy any longer. On average people will be holding 0.001 to 0.003 BTC. The publication also stated that about 19 million Bitcoin would be in circulation.
If the predictions in the publication should become true, the price of the Bitcoin will touch $100,000 the end of 2019. This means a growth of ~1010% over the next seven months. The price went up from $1,320 through $19,200. This is a ~1300% in 7 months. It is only for reality to unfold the facts.
As the price of the Bitcoin rises, a meeting in South Korea is focused on watching the Bitcoin market very closely. This is meant to protect the investors in cases where the market should overheat. The institutions keeping a close watch in the market will co-operate with the law enforcement authorities.
Several retail and e-commerce market places are accepting cryptocurrencies as a mode of payment. There have been several pilot projects where cryptocurrency has been recognized as a payment method. There have been many who have succeeded, and there have been others who have failed. The numbers of e-commerce sites, however, keep growing.
Financial regulators from across the world are putting cryptocurrency exchanges under the microscope for their licenses. Operating with a license is a must for cryptocurrency exchanges. Recently, CoinBene was put under regulatory scrutiny as it was unveiled that the exchange was employing freelance cryptocurrency traders to execute trades on their behalf.
A recent tweet from the company read: “We received numerous inquiries regarding our alleged hiring in Germany, But CoinBene is not planning to open any office nor hiring any representative in Germany. Nonetheless, we would like to thank those who actively reached out to us for your concern and understanding.”