Cryptocurrency and blockchain adoption

[maxreish]

Image Source

Mass adoption is really around the corner, some of high rank people, governments and other institutions are now participating in cryptocurrency which has a positive impact in the crypto world.

But here are some of the BIG five major developments in the recent days;

*  PwC Luxembourg to start accepting Bitcoin payments- this company is an Accounting firm that provides industry focused insurance and taxes now accepting bitcoin payments.

* Japanese regulator grants cryptocurrency exchange license to LINE subsidiary- Financial Services Agency, awarded a cryptocurrency exchange license to LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant LINE.

*  HSBC uses blockchain platform to issue letter of credit - HSBC bank finally had yuan credit transacrtion blockchain software (R3's Corda-powered Voltron platform)

*  National cryptocurrency in the Marshall Islands- David Paul (Minister In-Assistance to the President and Environment in Marshall Island)- described their forthcoming national digital currency which is Marshallese sovereigb(SOV)

* Reports of a cryptocurrency-enabled Samsung phone- Samsung Galaxy note 10 was already released with it's cryptocurrency wallet features.

Read more  here.

[pishite]

Image Source

Mass adoption is really around the corner, some of high rank people, governments and other institutions are now participating in cryptocurrency which has a positive impact in the crypto world.

But here are some of the BIG five major developments in the recent days;

*  PwC Luxembourg to start accepting Bitcoin payments- this company is an Accounting firm that provides industry focused insurance and taxes now accepting bitcoin payments.

* Japanese regulator grants cryptocurrency exchange license to LINE subsidiary- Financial Services Agency, awarded a cryptocurrency exchange license to LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant LINE.

*  HSBC uses blockchain platform to issue letter of credit - HSBC bank finally had yuan credit transacrtion blockchain software (R3's Corda-powered Voltron platform)

*  National cryptocurrency in the Marshall Islands- David Paul (Minister In-Assistance to the President and Environment in Marshall Island)- described their forthcoming national digital currency which is Marshallese sovereigb(SOV)

* Reports of a cryptocurrency-enabled Samsung phone- Samsung Galaxy note 10 was already released with it's cryptocurrency wallet features.

Read more  here.

It pleases me that starting to introduce blockchain in various industries, but unfortunately few countries accept it, as this can hit corrupt officials very much, as transactions will become transparent and any Internet user will be able to see what his taxes have gone. It is much easier to tell them that cryptocurrency is a bubble and the blockchain is not efficient in the same elections.

[avikz]

It pleases me that starting to introduce blockchain in various industries, but unfortunately few countries accept it, as this can hit corrupt officials very much, as transactions will become transparent and any Internet user will be able to see what his taxes have gone. It is much easier to tell them that cryptocurrency is a bubble and the blockchain is not efficient in the same elections.
[/quote]

The situation is slowly changing though! There are many countries who are still very suspicious about cryptos and its associated risks! From silk route to billion dollars exchange heists - all are seen as negatives by the majority of the governments!

But when more and more big corporates are showing interest in cryptos, the situation will definitely change for better! The governments will be forced to rethink their position because the industrial lobby will want to adopt cryptos.

It will take time because of its involvement with economy and potential disruptive power. But things are slowly changing for better! Yes, extremely corrupted governments from South Asian countries will probably stay away from it, but that's a small portion of the world economy! So doesn't really matter!

[sana54210]

The tension surrounding the use of cryptocurrency is already calming down and I can see that the government has seen the good side of cryptocurrency better than it negative side and I think it is now that adoption will really start.

It is like every day that we open the media now to read about bitcoin, I keep coming across the news of very great companies that are beginning to engage themselves in the use of cryptocurrency and these listed ones are even small compare to the ones I have read. Investors would now begin to see that this stage is the stage where we sow down ahead of future, and we really have to be patient for bitcoin if we really want to be among the group that will thank their God for being part of cryptocurrency community.

[virasisog]

Truly cryptocurrency and blockchain adoption is rising that is why i like supporting projects that pushes major adoption of this technology
Apollo Currency is one of them and i am glad i included this coin in my portfolio. It seems that they are contributing a lot and building partnership to several countries.
You can read all the details here: https://medium.com/@apollocurrency/national-currency-initiative-seeking-merchant-adoption-28960df306bd

[yesyes18]

I also believe likewise. The mass adoption is gradually happening just that we haven't come to the full realization of it. What we are seeing niw is to help clear the space of the many FUDs and distrust the mainstream had about crypto. Once that is gotten over, they'd troop in kije never before whenever a new hype comes again.

[hatshepsut93]

So a few companies are experimenting with blockchain, how is this "BIG"? We've been hearing that blockchain adoption is almost here for years already, but actually interest in blockchain is going down already. On Google trends it's only 14% from its ATH that happened during the last Bitcoin ATH (which is not a coincidence), less companies are talking about blockchain, developers are highly skeptical of it (check the stackoverflow report). It's just news sites like Cointelegraph and Coinidol trying to reignite the hype of 2017, and newbies who gladly believe in anything that in their mind is "good news".

[lobat999]

These are very relevant news to the blockchain industry which only further supports the notion that this technology would produce disruptions across many industries and these adopters knew that they will have an edge over competitors once they put it to use productively! I guess cryptocurrency and blockchain mass adoption will have hard times but we will get there eventually.

[tonyvo2017]

This is quite normal, because a technology with extreme intelligence and processing millions of transactions very smoothly will soon be utilized by people.
In the future, you will see developed countries like the United States, China, the United Kingdom, France, ... start applying blockchain technology to make things faster and more convenient. I always support this technology!

[oxgroth]

This news are good, for sure. But we need more merchants, first of all. And there are lack of them especially outside of USA

[el kaka22]

PWC is a big news actually, I mean those dudes are so big that almost all accounting in the world goes through them.

You may think that your small shop is not using PWC but actually you will be using a bank for your shop and that banks accounting is proven to be true by one of those 4 big horsemen of accounting one of which is PWC so that means even your small shop has some sort of ties with PWC at the very least. Then going into bitcoin would mean that they will be taking care of some sort of accounting of bitcoin accounts as well for their customers and that would make the worlds difference, they could find every single paper of legality that includes crypto and will make the road map and then regular people follow that without putting in the work themselves.

[kannikaamudee]

blockchain adoption is closer to reality today

[Duzter]

Those are really a good attempt from large scale firms in adopting blockchain technology as well use of bitcoin. In case of Japan it isn't a big thing, because it has been making everything into bitcoin and providing legal support. Among those mentioned HSBC and all could've never thought of such a marvelous technology making their work more effective and adopting the same. Same is with Marshal Islands, the step taken is big. Following this we can expect more small countries to adopt and accept technology based growth.

[Rahman11]

It’s a very good advantage of cryptocurrencies, it’s proof that cryptocurrency will become popular in day by day! I think it’s help more spreading of cryptocurrency in near future!       

[ethereumhunter]

The adoption process is on the way, and we can see there is much news in out there that saying many people start to know cryptocurrency. Many of them are trying to learn how the blockchain process and what is cryptocurrency. We will see that the new era will come and the old era will replace by the new era which full of digital technology that will fill our life.

And yes, that will affect the big company in real life and they still learning more about cryptocurrency, especially about blockchain. But the process itself needs time before it can reach all people in the world, so we will see the traditional will transform into digital technology.

[shield132]

There is no doubt crypto and blockchain edoption is really going on and on, that's good and I want to tell you OP that there are even better news.
1. Now it's possible in Ohio, USA to pay taxes in Bitcoin.
2. Australian Tax Office allows you to claim for lost private keys (still doubt why and how they're gonna do that, but mostly why?).
3. Brazil started birth registry by using Blockchain Technologies.
4. Georgia makes land title registry by using Blockchain Technologies.
5. As far as I remember Mastercard patented something related to blockchain technologies.
So yeah, adoption is massive but on first steps, it's more likely blockchain under attention.

[dothebeats]

It's good that we are seeing multiple events happening on the positive side of bitcoin and not just some other news that always go unnoticed, or news that always involve illegal aspects of the said cryptocurrency. It may not be bitcoin directly but it's good to know that they are recognizing the strengths of cryptocurrencies when it comes to some real-world applications. Perhaps in a year or two, we will be seeing a lot more of these adoptions coming into life, and not just contained within a small space in the society but in a larger scale.

[TheCoinGrabber]

I'm most interested with how the project by KAKAO and LINE would work. Almost everyone now have a smartphone and I myself check my wallet on it. If they can manage to integrate cryptocurrency use in their applications then that would be a big help in adoption.

Maybe it'll look like what they have in China where almost anything can be paid for using apps but instead of fiat, we'll be using crypto instead.

[Oilacris]

The tension surrounding the use of cryptocurrency is already calming down and I can see that the government has seen the good side of cryptocurrency better than it negative side and I think it is now that adoption will really start.

It is like every day that we open the media now to read about bitcoin, I keep coming across the news of very great companies that are beginning to engage themselves in the use of cryptocurrency and these listed ones are even small compare to the ones I have read. Investors would now begin to see that this stage is the stage where we sow down ahead of future, and we really have to be patient for bitcoin if we really want to be among the group that will thank their God for being part of cryptocurrency community.

Calming down?I don't think so because anytime there would be new issues that would pop out in related to it and these kind of scenario would keep coming back since we are still on the early adoption stage.

Good thing that we are seeing gradual improvements into those industries that do try to embrace blockchain tech but this doesn't mean that cryptocurrency market will be mainly affected when it comes to price because centralized system will create their own integrating this new tech.

[ufaiz50]

Blockchain is indeed predicted as a technology of the future, given the benefits and convenience offered in this system. This development will progress gradually because there are still some people who are not familiar with current technology. Considering the adoption of several companies I think it will slowly be accepted by the government if they benefit from this technology.