Abhishek Pitti, CEO and founder of Nucleus, commented: “What’s primarily driving criticism toward cryptocurrencies is the massive $170 billion bubble to which it has rapidly grown. Unfortunately, many entrepreneurs conducting ICOs today lack a basic understanding of how blockchain works. There’s definitely a lot of easy money on the table right now, which has caused every entrepreneur within even an inkling of an idea to rush toward an ICO, and thus, has resulted in a lot of criticism toward cryptocurrencies.
The reality is that ICOs are changing the way many technology startups raise money to fund their projects. The amount of money raised by cryptocurrency and blockchain startups via ICOs has surpassed early stage venture capital funding in the last few quarters. ICOs are a way for startups to raise capital without giving up decision-making power to venture capitalists nor surrendering any equity to them. The cat’s out of the bag, and ICOs are here to stay as a form of fundraising.” https://www.financemagnates.com/cryptocurrency/news/blockchain-entrepreneurs-see-ico-bubble-cause-wave-criticism/
Bitcoin Futures Market A Huge Step Forward?
“On its nine-year anniversary, bitcoin has surged to an all-time price high
following an announcement by CME Group to launch bitcoin futures by the end of the year. While it’s not the first to announce plans for bitcoin futures, CME may have a better chance of obtaining SEC approval for its proposal.
Earlier this year, the SEC rejected a bitcoin ETF proposal put together by the Winklevoss twins, saying the exchange that wanted to list it could not enter into necessary surveillance-sharing agreements, given that ‘significant markets for bitcoin are unregulated.’ If CME does manage to achieve this feat, one of the largest barriers in introducing a bitcoin-based ETF may soon be removed, which will open up the floodgates for both institutional funds and retail investors who haven’t had exposure to bitcoin to get in on some of the action. We could very well see bitcoin going multiple folds higher when that happens. However, bitcoin is quite different from traditional commodities like gold, copper, or rice that are currently traded in the futures markets. Thus, there will be a lot of teething issues that CME will face, as it does not have any other commodity that behaves like bitcoin. What’s more, this commodity can
be procured in many more unregulated cryptocurrency exchanges around the globe, which could potentially steer away a lot of traditional and conservative investors.”
http://www.valuewalk.com/2017/11/bitcoin-futures/
Nucleus CEO Abhishek Pitti said: “On its nine-year anniversary, bitcoin has surged to an all-time price high following an announcement by CME Group to launch bitcoin futures by the end of the year. While it’s not the first to announce plans for bitcoin futures, CME may have a better chance of obtaining SEC approval for its proposal. Earlier this year, the SEC rejected a bitcoin ETF proposal put together by the Winklevoss twins, saying the exchange that wanted to list it could not enter into necessary surveillance-sharing agreements, given that ‘significant markets for bitcoin are unregulated.’ If CME does manage to achieve this feat, one of the largest barriers in introducing a bitcoin-based ETF may soon be removed, which will open up the floodgates for both institutional funds and retail investors who haven’t had exposure to bitcoin to get in on some of the action. We could very well see bitcoin going multiple folds higher when that happens.
“While it’s not the first to announce plans for bitcoin futures, CME may have a better chance of obtaining SEC approval for its proposal. If CME does manage to achieve this feat, one of the largest barriers in introducing a bitcoin-based ETF may soon be removed, which will open up the floodgates for both institutional funds and retail investors who haven’t had exposure to bitcoin to get in on some of the action. We could very well see bitcoin going multiple folds higher when that happens. However, bitcoin is quite different from traditional commodities like gold, copper, or rice that are currently traded in the futures markets. Thus, there will be a lot of teething issues that CME will face, as it does not have any other commodity that behaves like bitcoin. What’s more, this commodity can be procured in many more unregulated cryptocurrency exchanges around the globe, which could potentially steer away a lot of traditional and conservative investors.”
“While it’s not the first to announce plans for bitcoin futures, CME may have a better chance of obtaining SEC approval for its proposal. If CME does manage to achieve this feat, one of the largest barriers in introducing a bitcoin-based ETF may soon be removed, which will open up the floodgates for both institutional funds and retail investors who haven’t had exposure to bitcoin to get in on some of the action. “We could very well see bitcoin going multiple folds higher when that happens. However, bitcoin is quite different from traditional commodities like gold, copper, or rice that are currently traded in the futures markets. “Thus, there will be a lot of teething issues that CME will face, as it does not have any other commodity that behaves like bitcoin. What’s more, this commodity can be procured in many more unregulated cryptocurrency exchanges around the globe, which could potentially steer away a lot of traditional and conservative investors.”
If you ask most people about bitcoin, they would describe it as a digital currency. However, those who understand its underlying blockchain technology know that it’s in fact a digital ledger of tamper-proof transactional data. This ledger isn’t owned by any one company or individual; instead, ownership is shared by every person who has ever made a transaction in bitcoin or any other kind of cryptocurrency. This decentralized nature of blockchain makes it infinitely more secure than any existing government-regulated system. That’s especially critical in an age in which privacy has become an increasingly pressing issue. Today, giant Internet corporations monetize customer information through various forms of advertising solely for their own benefit and have maintained exclusive control over this data. Blockchain-based protocols shift the power of controlling and monetizing personal data into the hands of the customers themselves, empowering them like never before. Blockchain offers a way for networks to securely obtain and share consumer preferences — for instance, letting your favorite stores know that you’re looking for deals on a pair of boots or that you’re in the market for a new TV — without compromising the personal information that you don’t want them to access, that too only upon your authorization. One way that blockchain is able to achieve this is through the use of private keys. Using private keys over blockchain, people can choose to authorize only select networks to obtain their personal data.
The brick-and-mortar retail industry is one that can see significant benefits from the adoption of blockchain. In fact, blockchain could facilitate the creation of a system that would let brick-and-mortar retailers provide a personalized shopping experience to anyone who walks into their stores using data that the customers can willingly choose to share with retailers. Still, the thought that retailers might be able to access your personal information can seem a bit invasive. That sentiment is only heightened by recent critical hacks of customer information, such as the recent Equifax breach that compromised the personal data of more than 143 million people. However, with blockchain, potential customers can control exactly who is able to see their data, and even potentially monetize it when coupled with a cryptocurrency-based economy. A blockchain-based system could notify customers when a retailer would like to access to their consumer data, and can choose to approve or deny authorization to them. With the advent of blockchain, these heightened levels of data protection and customer awareness of its use have become a reality, and it will prove critical in ensuring that consumers are fully in control of the security and privacy of their own data. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
