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. 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, 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.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.