Plenty of reports how these beasts are parked up on the curb all over the city and roaring down the streets of Manhattan. Moon, Lambo… Audi delivered 3,815 lambo’s last year +10.4% YoY outperforming the broader US market by 21.2%. The average buyer’s age has also been on a downward trend… go figure.
Plenty of multi-nationals out with their adoption of blockchain technology as they try to steal the limelight from Consensus as Fedex CEO took the stage pronouncing it as the “next frontier” with the potential to “completely revolutionize what’s across the border”.
There were others sharing their visions of the future such as Metlife Asia with Insure Chain promising instant insurance settlement, Japanese financial group MUFJ promising a coin launch of their own next year, Fubon making history in Taiwan asthe first in the country to deploy a blockchain payment system on the $ETH network, IBM with yet another initiative utilizing the rapidly adopted $XLM network to launch a carbon credit trading system while the Polish Credit Office Biuro Informacji Kredytowej (BIK) tied up with Billon to store customer data on a blockchain architecture.
Dovetailing with the flurry of announcements, price action has been pretty wild as well. albeit seeing a bounce off the lower bollinger band the volatility has seen several retreating back into $BTC as we see dominance back on a 37% handle. The thought that comes to my mind is that it may indeed be possible that the Google’s and Alibaba’s of crypto have yet to be born. Not to say that $BTC dominance will be threatened anytime soon but the sheer number of initiatives being announced by various corporations, government bodies and international bodies does make you pause and think. Maybe someone should get a memo to them bankers on the streets?
Big corporations take time to change. There are processes in place that put them atop and the size of these entities alone… not an easy task. Think 500 meter long ULCCs vs. your average tugboat.
There have been a few more players- perhaps tired of the inertia they faced within- changing tracks and getting involved. Karen Chen (陈庆) former chairman of UBS China threw in the towel and took the CEO job at Higgs Block Technology, Amber Baldet & Patrick Nielsen key members of JP Morgan’s Blockchain project left to start Clovyr and Eric Piscini Leader of Global Blockchain & Partner of Deloitte left to join Citizens Reserve. The word two-faced comes to mind. These conglomerates bash what could be the end of them publicly, in futile attempts to protect share prices from what could be the end of them as they work on their own projects behind the scenes. Fiduciary duty or looking outfor your stock options, pretty amusing.
Sujit Raman, assistant deputy attorney general at the Justice Department shone some light onto their perspective. During a panel discussion he pointed out that he was concerned “who has access” and “who is using them.” Sounds like someone is trying to keep tabs on you.
I am getting tired of this argument against about how everyone involved is a scammer as all they’re trying to do is sell it on higher to the next buyer. Why do you think investments of any other asset class are made? for altruistic reasons?
May trend be your friend… Happy trading.