Blockchain Revolution Series: Wall Street Companies Flirt With Blockchain

Major wall street companies, like Nike, JP Morgan, Facebook are unveiling blockchain projects. While Telegram is no exception. Samsung is reportedly intending to launch its own token platform; it seems that Ethereum background for the S10 is not sufficed. 

Well, before we run you through the further portion of this write-up, let’s just reiterate that the leading investment and trading platform, ‘eToro’ had also recently released the key inferences of a survey conducted on investors’ sentiment towards crypto-assets and traditional financial institutions. Wherein about 43% of Millennial online traders say they have less faith in the stock market than crypto-assets.

With this fact, one can understand that Wall Street players are now seeking attractive and promising investment avenue, maybe due to the anticipation of greater chances of recession within the next several years or investors are more aggressive for alluring returns.

J.P. Morgan has made an official announcement about its digital currency initiative ‘JPM’s Coin’ and divulged about its digital coin payment. Conceivably, some innovative use-cases for the revolution in the blockchain domain are getting really gigantic.

Elsewhere, the reputed social media company ‘facebook’ doesn’t seem to be abstaining itself from a buzz world. They also seem to be testing their luck in blockchain or crypto-universe, the social media giant is intending to establish a blockchain technology team. As a result, they are seeking techno-savvies to develop blockchain ecosystem, as per Facebook’s official careers page so that Facebook could incept a stablecoin through which their clients can transfer money via WhatsApp.

While Elon Musk, the founder of Tesla and SpaceX, seems to be constructive on cryptocurrency prospects.

He said that Bitcoin “is quite brilliant.”He continued: “traditional currency may fade away as the crypto is a far better way to transfer value than pieces of paper, that’s for sure, but it has its pros and cons.”

Currency Strength Index: FxWirePro's hourly BTC is at -123 (highly bearish), hourly USD spot index is inching towards 78 levels (which is bullish), while articulating (at 10:23 GMT).

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex