Why Blockchain Could Outrun Bitcoin in 2018
As 2017 clicked over into 2018, the crypto mania roared above the New Year celebrations.
While most people were busy toasting the start of 2018, bitcoin was rapidly tumbling downhill. In a sharp and sudden decline, it fell 8.1%, from US$19,511 to US$13,150 per coin.
For Aussie crypto investors, this was yet another blow, as recent debate has made it increasingly difficult for Australians to buy bitcoin. With major banks unwilling to work with cryptocurrency exchanges due to the lack of regulation, brokers like CoinSpot have halted deposits of Australian dollars.
Although they expect to start reaccepting Aussie investments, this temporary ban speaks to the unpredictability and fickleness of crypto investing. Issues that have plagued cryptos in various forms over the past year.
Of course, these drawbacks weren’t the end for bitcoin. Already it has climbed 13% — to its previous high — on the back of bitcoin futures, quelling any panic about a collapse.
But not everyone has the stomach for such a turbulent investment rollercoaster. Yes, the highs are spectacular. But the lows are stomach-churning. And the uncertainty about the future of cryptos remains palpable.
It will likely take time for the ride to slow down. Financial and technological revolutions of this scale take time and patience. So, for now, this is the reality of crypto investing.
In the meantime, blockchain technology continues to prove itself as well-grounded tech with revolutionary potential. And the companies that have utilised it effectively have been rewarded with immense success.
Best of all, blockchain doesn’t require the approval of banks or governments to operate. It’s being readily adopted around the world due to its transparency and reliability.
Take the city of Moscow as an example.
After considering that the yearly cost of corruption makes up 4–5% of global GDP and that one-third of voters worldwide don’t trust election results, they knew something had to be done.
And what could be better than an immutable blockchain ledger to improve voter confidence? Moscow is taking steps to revolutionise the voting process with blockchain, allowing citizens to track voting results on city projects in real-time.
As this decentralised system is tamper-resistant and visible to everyone, the success of this tech could also radically transform the way we cast votes on a global scale. Blockchain makes it possible to vote from the comfort of your own home, with no queues or the possibility of forged results.
As the world splits at the seams with an overload of data, blockchain will become an integral part of our lives.
The stock market is also set for a huge shake-up. 2018 could very well become known as the year data was completely revolutionised by blockchain technology. It had already started to take hold in 2017, but the scale of the disruption is yet to be realised.
Exponential Stock Investor editor Ryan Dinse has been scouting for the stocks that could be leaders in this space. Companies that could skyrocket on the back of blockchain tech. He now believes he’s found a small number of lesser-known companies that could be poised to do just that.
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