Cameron Winklevoss, along with his brother Tyler winklevoss recently revealed as world’s first Bitcoin billionaires said that Bitcoin is Gold 2.0 and posses the same qualities as Gold, he further added that Bitcoin will be multi trillion dollar asset within few years.
Cameron Winklevoss & Tyler winklevoss who sued Facebook earlier to copy their Idea of world’s largest social network and were recently declared as world’s first bitcoin billionaires are now supporting world’s largest crypto currency in media. In an Interview with CNBC Cameron said that “We’ve always felt that bitcoin, given its properties, is gold 2.0, it disrupts gold. Gold is scarce, bitcoin is actually fixed. Bitcoin is way more portable and way more divisible. At a $300 billion market cap, it’s certainly seen a lot of price appreciation, but gold is at $8 trillion and if bitcoin disrupting gold is true and it plays out , then you can see 10 to 20 times appreciation because there is a significant delta still”
“Long term, directionally, it is a multitrillion-dollar asset” he added
“Bitcoin is not competing with those other currencies. It is competing with gold. Bitcoin is the oldest, it has the first mover advantage and there’s tremendous liquidity,” he said, adding that the problem ether is trying to solve is different than bitcoin’s payment application. “I think it’s great if there are a number of cryptos”. “We think derivatives set the stage for other products and is the next logical evolution of this market,” Winklevoss said.
Keeping in view the recent boom in crypto currency market, prediction from Cameron Winklevoss seems to be realistic as acceptance of Bitcoin is increasing and price has already exploded more than 1500% in 2017 alone.
Blockchain Technology can save Billions in digital advertising
Approximately $14 billion of all mobile ad spent in 2017 was potentially fraudulent
Digital advertising industry is fighting with problems like Fraud, lack of control over data privacy and extreme complexities in supply chain.On one side advertisers are losing money in ad frauds and on the other side they can’t even control their own ads due to problems in supply chain , related to middleman and third parties.
Digital advertising industry needs transparency and what’s better than Blockhain Technology!
Blockchain technology can help digital advertising industry in many ways, here are some important ways through which Blockchain Technology can resolve these issues of transparency and trust.
Cambridge Analytica fiasco took everyone by surprise, facts were shocking and after that users are cautious than ever, governments are trying their bit to improve the security of users with initiatives like General Data Protection regulation but that’s not enough. Data privacy is still a big issue because people tend to enter their personal information on multiple websites and that makes their privacy more vulnerable as security breach in any one of those websites can lead to stolen data.
Blockchain Technology provides them opportunity to store their sensitive information at a safe place. One of the best examples of this technology would be a highly encrypted decentralized data base for personal information that eliminates the need of reentering the same data and information multiple times. People can access their information with a private key and they can decide themselves what to share and with whom, making this entire process more secure and transparent. Advertisers on the other hand can use this technology to show users how their information is being used so that they can build trust with the users.
Ad fraud is one of the biggest problems digital advertising industry in facing, exact numbers of ad fraud may vary from source to source, but it has been estimated that in 2017, as much as 36% of the digital traffic was fraudulent and as much as $40 billion were spent on mobile advertising, so around $14 billion of all mobile ad spent in 2017 was potentially fraudulent.
A digital ledger of transaction enabled by Blockchain Technology is the solution for this problem. Each transaction of the digitized product is stored on that ledger and no one can fake or change the fact. Every transaction is recorded only when all parties agree. The ledger is decentralized which means no single party can influence the ledger in negative manner. This process brings transparency and advertisers can easily monitor where ads are going and what’s happening to them.
Improved Supply Chain
In good old days, advertising supply chain was a simple process but not anymore, digital advertising supply chain is a complex phenomenon now, 3rd parties, advertising agencies, middleman came into the industry and made the entire process difficult to understand for advertisers, and these days most of the advertisers don’t even know what’s happening to their ads and they feel that they are losing their control over ads. Decentralized ledger can help all the parties and will be able to record each and every party involved in the process from advertisers to publishers. This process will enable advertisers to regain control over their ads with transparency.
Tether is the winner in this bear market
Crypto market is suffering from one the worst phases since it’s inception and almost every crypto currency is down this year. Tether, a coin which is often referred as a Stablecoin and known as the safe heaven crypto currency is the actual winner in this rough patch.
Market cap of this crypto currency increased significantly since start of the year, at the start of 2018, market cap of Tether was around $1.38 billion, which is now at around $2.8 billion, shows more than 100% growth in market cap.
According to the official website of Tether, it is a token which is backed by the actual fiat currency assets in US dollars, Euro and they are also looking forward to introduce Japanese Yen as well, covering all the major fiat currencies in the world.
Tether provides protection from volatility in the wild crypto market and that’s why people refer Tether as a stable coin or a safe heaven currency, just like Dollar in the real world. But, the thing is that the main purpose of a crypto currency or a token is to get rid of the Fiat currencies and the banks in order to make the entire process and ecosystem decentralized, with backing of Fiat currencies, Tether is breaking that concept and vision of free market, so that’s why critics of Tether don’t recommend usage of Fiat based token.
There’s another side of the story as well, in this volatile market where price movement of 20% in a day is just like a normal day, market needs at least one currency which is stable so that they can use that for transactions, tether is helping in that sense, exchanges, ATM’s , wallets and other players in the crypto market can now use Tether for stable transactions because there is so much volatility in the crypto market that they can’t even process transactions in the volatile market making it more difficult for the businesses to operate with volatile tokens, increasing market cap and acceptability shows that businesses are not only using Tether but they are also encouraging usage for retail clients as well. Steady growth of Tether helped this token to gain the 8th position in coinmarketcap rankings.
52% of ICO’s failed in 2017
According to the data compiled by Fabric ventures and Token Data, 52% of ICO’s failed in year 2017, and only 48% of them were successful.
A Total of $5.6 billion was raised by ICO’s in 2017, making it the most beneficial year for ICO founders ever, although project success ratio has dropped.
Number of successful ICO’s in 2017 were 435 with average funding of $12.7 million
10 largest projects raised 25% of total ICO’s funding
worrying sign is that return on investment for new investors in the market is on downtrend.
Venture capital fund Fabric Ventures and cryptocurrency data provider TokenData shared the figure in their “State of the Token Market” report. 2017 saw a huge boom in companies raising money by issuing their own digital currencies, which are structured similarly to bitcoin, in return for funds to build their business. These “coins” can then be traded freely on online exchanges, offering greater liquidity to investors than traditional equity investment.
“More than $5.6 billion of capital was raised in 2017 according to the metrics used by the TokenData team,” the report says. “This compares to $1 billion of ‘traditional’ venture investing in blockchain startups in the same time frame and a ‘mere’ $240 million raised by token sales in 2016.”
Fabric Ventures and TokenData found 435 successful ICOs out of an attempted 913 last year — meaning just 48% were successful.
The average amount raised was $12.7 million but the report notes: “Collectively, the 10 largest sales raised close to $1.4 billion and roughly 25% of the total capital raised in 2017.”
Almost a third of funding went towards blockchain infrastructure projects. The biggest ICO of last year was Filecoin, a project to build a decentralized data storage solution based on the blockchain. The project raised $257 million in September.
The majority of people investing in these ICO projects have been retail or small-time investors but institutions are increasingly looking at ICOs due to their eye-catching returns.
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