Blockchain technology is once again in fashion9. August 2020
The birth of Bitcoin brought several consequences, one of the main ones being the expansion of Blockchain technology. Even though blockchains are older than cryptosystems, they have not really been the object of public attention until now. Something that has been changing thanks to the possibilities demonstrated by cryptoactives, which companies and governments want to take advantage of for themselves. Which is why the Blockchain is once again in fashion.
Dubai launches data platform based on Blockchain
Blockchain and competitiveness
At this point, anyone who runs a large business, government or organization should know the importance of Blockchain technology. For, beyond cryptosystems, blockchains have a number of technical capabilities with the potential to substantially improve the performance of any organization. Increasing both security and efficiency in their processes.
For this reason, more and more often, alliances have emerged between companies in the crypto world like Ripple, and companies and governments around the planet. This has allowed traditional financial institutions such as Banco Santander, to incorporate the Blockchain in their products. While other companies like Wells Fargo bank, seek to develop their own chains of blocks and virtual currencies.
This is a process that has had its equivalent within government institutions. Although governments in general do not accept crypto-currencies, due to the threat they pose to their ability to control national monetary policy, they have adopted the Blockchain technology, contributing to making it fashionable once again.
China tries to take the lead with the Blockchain (BSN)
The Blockchain Fashion
And a great way to see that Blockchain technology is indeed in vogue is through the Nasdaq NexGen Economy ETF (BLCN) Reality Shares. A cryptoactive whose value is anchored to the Nasdaq Blockchain Economy Index Reality Shares.
This index is developed by the company Reality Share and „is designed to measure the performance of companies that are committing material resources to develop, research, support, innovate or use Blockchain technology for their own use or for the use of others“. It is therefore a reflection of the performance of companies that take advantage of the blockchain.
At the moment, the BLCN is experiencing a real bullish rally, which has placed its price at $32.96. Maintaining a constant growth in its price since April, when its price was at $18.94. Showing the commitment of companies like Overstock.com, PayPal and other technology giants, with the technology Blockchain.
Thus, in the midst of what appears to be a new bullish rally for Bitcoin, companies around the world seem to be betting more and more on Blockchain technology. Leading to the rise in the price of the BLCN. Becoming a great investment alternative, and making it our Tip of the Day here at CryptoTrend.