Blockchain News

63 Percent of Senior Execs Lack Understanding of Blockchain Tech

As per a report published in Cointelegraph, in a survey of official investors by the Global Blockchain Business Council (GBBC), 63 percent of respondents believe that senior business executives have a bad understanding of blockchain technology.

As Cointelegraph previously reported, approximately high-profile cryptocurrency bulls but not institutional demand for cryptocurrencies to get the industry forward in 2019. In October Mike Novogratz, an ex-Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital said that institutional demand will bring Bitcoin (BTC) to new highs in Q1 or Q2 2019.

Binance which is the major cryptocurrency exchange has renamed its Tether Market to be a united Stablecoin Market. This is allowing the transaction to support more trading pairs of the stablecoins. Binance renaming its USDT market to combined stablecoin Market which is according to the announcement on 26th of this month.

The crypto exchange also notes that Stablecoin Market is not a new stable coin. The symbol of Binance’s new stable coin market will deliver a different announcement about what actual pairs will be added.

Binance would start listing the blockchain payment company named Circle’s USD pegged stablecoin. It added support for Paxos’s pegged USD asset which is dubbed TrueUSS and PAX.

USD Coin token which was launched by Circle and Coinbase cryptocurrency exchange in the US in October. The coin is 100% secured with the US dollars. They are held in accounts which are subject to the reporting of public of reserves. Asiff Hirji, Coinbase president and COO said that the firm issued stablecoins backed 1:1 with the US dollar which is transparent and audited.

Tether found itself of an argument at a source after the inconstancies. Those were caused to lose its peg of a long time to the US dollar. The issues appeared among rumors that cryptocurrency exchange Bitfinex. The CEO of Bitfinex is also like the CEO of Tether, facing the insolvency issue. Binance is known for its low trading fees (0.1%) as well as its fast transaction processing. The Binance technology is capable of processing 1.4 million orders each second, making it a world leader in potential exchange volume. At the time of writing, Binance was sitting in the #17 spot in terms of 24-hour trading volume.

USD Tether is the eighth digital currency in trading all around to 0.968 dollars. It is the currency by the market capitalization. And Tether is having lost its 0.07 percent on the day which is according to the CoinMarketCap. USDC is up with 0.53 percent and trading all around 1.03 dollars in the last 24 hours.

In November, Morgan Stanley released their latest report on Bitcoin, titled “Update: Bitcoin, Cryptocurrencies and Blockchain,” stating that Bitcoin (BTC) and altcoins have constituted a “new institutional investment class” since 2017.

In the meantime, the banking giant has since denied rumors of having abandoned its plans to launch a crypto trading desk. And Bakkt, the digital assets platform created by the operator of the New York Stock Exchange, announced a target launch date for Jan. 24, 2018, pending regulatory approval.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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