Christine Lagarde, head of the IMF, has just issued an ominous challenge to cryptos: banks might soon start issuing their own digital currencies.
Ethereum (ETH) is second only to bitcoin in terms of its network value.
Naturally, this has led to a lot of interest and cheerleading from investors, speculators and traders alike.
But this is not just another crypto caught up in the latest hype. And it’s not just a bitcoin clone.
In fact, it’s completely different. And it’s probably the most ambitious and exciting crypto project out there at the moment.
So, what is Ethereum?
Ethereum is a platform that’s built specifically for creating smart contracts.
A smart contract is code that executes code exactly as it has been set up by its creator. By combining this with blockchain technology it potentially automates a whole series of actions that previously required humans to check and verify first.
This could revolutionise all types of industries, from supply chain management to healthcare.
And beyond that it could even facilitate new types of business structures such as Decentralised Autonomous Organisations (DAO’s).
These are organisations with no top down management. But a series of community driven decisions that set rules on how the benefits are shared.
The possibilities are endless.
If cryptocurrencies are dead in the water, why haven’t they gone to zero?Why did the freefall stop around March? Maybe Ethereum’s founder, Vitalik Buterin, has the right idea…
Bitcoin isn’t the only coin of its type. There’s a whole world of ‘cryptocurrencies’ that you can buy and hold your wealth in.
If crisis hits again, people will flee the traditional system. They’ll want something else. And crypto will be there, ready, waiting for them.
Rat poison square…dementia…as bad as trading freshly harvested baby brains…tulips…a bubble…a fraud… Yep…if you haven’t guessed it yet, we are talking about cryptocurrencies. In fact, we are listing just a … Read More