Sometime around May 11, 2018, unnamed sources told Cheddar.com that Facebook is exploring the creation of it's own cryptocurrency, and needs to make acquisitions in the blockchain and cryptocurrency space in order to develop its this virtual currency.
The social media giant began its examination of blockchain technology to see how it could also be used to help Facebook verify the identity of accounts and encrypt data.
David Marcus, VP in charge of the Messenger app, will lead a team of less than a dozen Facebook employees working on blockchain. No ICO is planned. Their digital currency could take 2 years to develop.
Before laying out our predictions on trends with cryptocurrency, we need to review a bit of history and analysis.
After several years of slow climbing in price, Bitcoin did not significantly start to rise in value until the tail end of 2016. Many analyst attribute this to institutional and retail investors from counties such as China, Japan and Korea. Remember the hit Gangnam Style? As 2017 progressed, institutional money started to increase from the US as well. By the end of 2017, Coinbase had over 13 million users alone. Much more than Charles Schwab. This ended up as a tremendous amount of money poured into cryptoc...
In this series, Lantah is exploring the trends of Cryptocurrency in 2018 and beyond. This is the year of maturity for Cryptocurrencies.
The total cryptocurrency market cap reached an all-time high of around US$828 billion in January of this year. This was the first ever jump in cryptocurrency history which started to climb in April 2017. Then over the few months, we experienced a huge decline in total market cap. The mainstream media declared Bitcoin is dead, crypto social media went silent, and many new investors lost money selling at the bottom. But it is back on track with growth.
May 8, 2018, two Congressional subcommittees gather today to discuss global blockchain applications with leaders from U.S. Homeland Security, NUBY legal counsel, a global digitalization leader from Maersk, U.S. customs brokerage staff from UPS.
This hearing is similar to one held on February 14th of this year, attended by the House Committee on Science, Space & Technology Research and Technology, and Oversight Subcommittees, participants will meet to develop a way forward for essential blockchain development within the U.S.
Topics up for discussion today include:
How blockchain can potentially solve intellectual property theft.