From John Wieland, research analyst, Palm Beach Research Group: The time to invest in blockchain technology is now.
A new survey by Roubini ThoughtLab found that 64% of asset managers expect to use blockchain within the next five years.
And nearly half of those say blockchain will play a larger role in their businesses… immediately.
[A blockchain is a secure, decentralized online database used to conduct transactions. Decentralized means all the records are tracked on thousands of computers around the world instead of one central server.]
This is big news for cryptocurrency investors and users…
Regular Daily readers know the blockchain will help hundreds of industries improve efficiency by cutting out middlemen, reducing costs, and saving time.
Palm Beach Letter Editor Teeka Tiwari has been beating this drum for months. In the May issue of PBL, Teeka wrote:
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The blockchain ledger is public and online… Identities are kept anonymous, but all transaction details can be seen by everyone… This creates trust without needing a central authority or middleman. When you cut out middlemen, you cut out lots of costs. This is already changing the face of the wire transfer business. For example, you can now send money in any currency to any place in the world. The recipient will receive the money immediately. Having to pay $50 for a bank wire transfer and waiting seven days for that money to clear is a thing of the past. In a few years, you’ll be able to buy a home without having to spend $3,000 on title insurance. The blockchain can do that in seconds. |
The rapid adoption of the blockchain by industries will be a boost to cryptocurrencies. Cryptocurrencies are digital money used to “pay” for transactions on the blockchain.
The most popular cryptocurrency is bitcoin. It’s now accepted by 100,000 merchants across the world, including Microsoft, Dell, Wikipedia, Expedia, and PayPal.
The popularity of bitcoin has resulted in a dramatic price rise. It’s up more than 4,000% since launching seven years ago. Today, bitcoin’s price is near $600 per coin.
Bitcoin’s meteoric rise ignited an explosion of new cryptocurrencies available for investors today…
And here’s why the survey about asset managers using the blockchain is so important…
While bitcoin has worked well as a medium of exchange, its blockchain is built mainly to make payments… The network wasn’t built to handle other types of transactions, such as stock purchases or real estate deals.
But a new blockchain has emerged to pick up where bitcoin’s network left off. And major financial institutions are taking notice, as Teeka writes.
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While Bitcoin has gained a large following, it has failed to make substantial inroads with major financial institutions. A new currency, on the other hand, has already been tested by 11 major banks around the world. Wells Fargo, Barclays, BMO, Credit Suisse, Natixis, HSBC, TD Bank, RBS, UBS, Unicredit, and the Commonwealth Bank of Australia have all given it a try. And another 31 banks, including JPMorgan, Bank of America, and Citibank are looking into it.” |
The blockchain Teeka’s referring to will eliminate billions of dollars in banking costs because it will make transactions almost instantaneous…
Back in May, Teeka interviewed the creator of this new blockchain and afterward said, “I think this invention could make him the most important man of this century.”
As more companies adopt this “new blockchain for everything,” its currency could turn $200 into $6,850 or more…
So far, two of Teeka’s cryptocurrency recommendations are up 42% in just five months… with plenty more upside.
They’re still below their “buy-up-to” prices… so there’s still time get in. But you must act soon. The elevator is about to leave the ground floor…
P.S.: Teeka recently interviewed the computer programmer who has developed a secret “currency alternative” that could return up to 3,400% for early investors. And it’s currently trading around $13.
The 22-year-old Canadian whiz kid now lives in Sweden, but Teeka tracked him down for an exclusive interview. To hear why this prodigy is being called the next Steve Jobs, click here to watch this free presentation.