A Month Ago

Guide to Bitcoin and the terminology used

  

We have had a number of number of people asking for a simple explanation about the biggest cryptocurrency - Bitcoin. Here are some of the most common questions asked:

 

What is Bitcoin?

A virtual currency, sometimes called a digital currency. It is also known as a cryptocurrency because it uses cryptographic security (therefore difficult to hack) which enables users to make peer to peer (to another party) transfers without needing to use a traditional bank or exchange. This is possible due to the fact that Bitcoin uses the Bitcoin Blockchain, launched in January 2009, and because...


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Asset managers find Digital Assets irresistible

 Venture Capital (VC) funds invested a record $8.8 billion into blockchain and Digital Assets in the first half of 2021, hitting an all-time high . One of the most active VC firms, Tiger Global, had invested most of the $6.7 billion fund it raised in March by June. In Tiger’s recent update to investors, it reported that it had “consistently underestimated the market for private tech companies. Six months earlier, data suggested a $3tn market opportunity. It was now closer to $5tn”. Indeed, Tiger Global has been one of the most active investors in companies engaged in...


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Cryptocurrencies being used to engage with fans and clients

Digital assets in the form of tokens or stable coins are being seen as a way to retain customer loyalty, with examples being that several football clubs and potentially a French supermarket are using them. In competitive environments, too, organisations are always looking for ways to retain customer loyalty and increase engagement as it is 6-7 times cheaper to sell to an existing customer compared to attracting a new one.

 

The success rate of selling to an existing client as opposed to a new customer

 

 
(see attached image)
 

Source: Marketing Metrics

 

Casino, the French supermarket, which...


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How Blockchain is disrupting financial markets

Blockchain technology and the digital assets it can create were once shunned and treated with suspicion but, then again, people are often reluctant to accept change. However, now we see highly respected multinational corporations and even governments beginning to figure out and start using blockchains (and digital assets) as they realise the transformational opportunities this technology offers. Greg Medcraft, who was the chairman of the Australian Securities and Investments Commission and has been in Paris at the Organisation for Economic Co-operation and Development (OECD) for three years, is very candid about the outlook for banks...


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High street banks disappear as payment platforms offering digital and crypto services thrive

The bank manager who had for years been a pillar in the community and who was able to offer holistic financial advice to individuals and business has long disappeared. Some argue, so ought many of the banks that employed them. In the past, people had their wages paid to them in cash meaning that companies’ wages departments had to arrange for the banks to have sufficient notes and coins ready for their staff. Over the next few days, the cash often was then taken back and re-deposited...


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 NFTs help cash-strapped art galleries and museums to raise capital

We have had a great deal of feedback from readers asking for more tangible evidence of how Non-Fungible Tokens (NFTs) are being used in different ways, having highlighted last week that NFTs are being used to help raise capital for films. Well, the creative juices of those engaged with NFTs certainly seem on the rise, with several pulling off the dust sheets in their attics and local museums. The world famous Hermitage Museum in St Petersburg is looking at selling NFTs of some of its works of art to help raise...


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Joined 7th February 2019