BitDigest November 20 · Issue #789
Nov 20, 2020
Author
- Bitcoin jumps back above $18,000 and ether breaks $500; all REBEL coins report positive 7-day and YTD results for first time this year
- SEC Chairman Jay Clayton says he expects to see more regulation around the digital payment space
- IRS Looking to issue new rules for treatment of digital currencies
Blockchain is at a Tipping Point
Over the past few days Economist Nouriel Roubini reiterated his belief that blockchain is the “most overhyped technology ever.” Ken Seiff and the team at Blockchange Ventures recently published an investor letter that clearly disagrees with Roubini’s statement and suggested that blockchain is on a trajectory to become a generation technology shift as consequential as the internet. They identified 6 reasons why they see blockchain “at a tipping point:”
- We are beginning to see large markets and applications emerge beyond cryptocurrencies and speculation.
- COVID-19 – and its economic fallout – have highlighted strains in legacy systems and accelerated the conditions for blockchain adoption.
- Top-tier enterprises are adopting the Blockchain.
- High-quality talent is entering the blockchain sector from top companies.
- For the first time, large companies and financial institutions have made significant and very public investments in Bitcoin.
- Institutional grade blockchain infrastructure has arrived.