Bitcoin

Bitcoin Daily: IBM Embraces Blockchain Registry; Crypto Crash Surpasses Dot-Com Bubble Burst

This year's “Great Crypto Crash” appears to be deepening and has hit a major milestone set by the dot-com bubble, Bloomberg reported. Digital currencies have tumbled from a January high by 80 percent, according to the MVIS CryptoCompare Digital Assets 10 Index. That level tops the “peak-to-trough decline” in the Nasdaq Composite Index following the dot-com bubble. While the decline has hit investors hard, those investing in alt-coins have been especially impacted. Markets.com Chief Market Analyst Neil Wilson told Bloomberg, “It just shows what a massive, speculative bubble the whole crypto thing was, as many of us at the time warned. It’s a very likely a winner takes all market  bitcoin currently most likely.”

According to CoinMarketCap.com, the value of all digital currencies has reached the lowest level in 10 months at $187 billion. Bitcoin was priced at $6,477.77 and ether was valued at $209.55 as of 6:58 p.m. on Thursday (Sept. 13), according to CoinDesk. By contrast, ether was valued at over $1,200 at one point in January and bitcoin topped $17,100 in that month.

In other news, IBM has joined a project called the ’Unbounded Registry,’ which seeks to create a yellow pages of sorts for blockchains — as well as firms in the sector — to make the technology more interoperable, The Next Web reported. Blockchain company HACERA is spearheading the effort and wants to make a “decentralized cross-blockchain registry that brings permissioned and permission-less blockchains together through a directory of blockchain networks.” According to IBM Vice President of Blockchain Technologies Jerry Cuomo, “As the number of blockchain consortiums, networks and applications continues to grow, we need a means to list them and make them known to the world, in order to unleash the power of blockchain.” At the same time, however, members need to apply to become a part of the register, as is the case with other“permissioned” blockchains.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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