Bitcoin has a lingering problem that few people are talking about amid the renewed exuberance of the recent price surge.
Hardly anyone is using the world’s largest cryptocurrency for anything beyond speculation. Data from New York-based blockchain researcher Chainalysis Inc. show that only 1.3% of economic transactions came from merchants in the first four months of 2019, little changed over the boom and bust cycles of the prior two years.
Even though marque companies such as AT&T Inc. now let customers pay with cryptocurrencies, the problem is that few speculators want to use the digital coins to pay for wireless services when the digital asset’s price might surge another 50% in a matter of weeks. That’s become the main dilemma with the cryptocurrency: Bitcoin needs the hype to attract mass appeal to be considered a viable electronic alternative to money but it has developed a culture of “hodlers” who advocate accumulation rather than spending. Full Article Bloomberg
GOLD STANDARD AS THE FIRST FINANCIAL CENTER OF DIGITAL ECONOMY
Gold Standard Bank has become the most significant global multinational holding company in financial sector that has been setting new trends in the blockchain sector development. Its rapid growth is based on the understanding that the world of the future will draw on technology and gold. Over the past few years, it has become the largest venture, which has implemented a numberof successful innovative blockchain projects related to introduction and development of gold exchange transactions.