“Big Crypto”- Bitcoin, others will be under a lot more EU, US lawmakers, FTC, and SEC scrutiny and regulations, including consumer protections over the next 12 months. In 2021, Bitcoin’s exuberance is exposing investors to a high level of volatility and risks. Bitcoin’s technology is obsolete, uses too much miner energy consumption, and does not scale for global high-volume transactions. Investors and crypto corporations must reset their cryptocurrency strategy now for 2022. A 2022 cryptocurrency strategic playbook calls for a transition to the second-generation (2nd Gen) Proof-of-Stake (POS) blockchain coins, such as an Ethereum 2.0 POS platform, in mid-2022. US megabank forecasts predict new financial staking services to be valued at $9B. When Ethereum 2.0/EHT goes online, then staking services jump to $20B. Ethereum 2.0 should be a game-changer as well as the leader in the cryptocurrency space.
CEO’s top technology priority in 2021 is blockchain, especially in the fintech sector. Five blockchain opportunities revolutionize banking and financial services for business and central banks’ adoption. As more emerging/new fintech blockchain services are available for adoption, existing financial services will require refresh/retro-fit upgrades. Banks, credit unions, and financial services must revolutionize their traditional services to be relevant within five years!
After many years of dithering the Fed is seriously investigating creating digital money – a “digital dollar”. Not bitcoin, but digital dollars backed by the United States government. Why? What does this mean to me?
Facebook’s Libra plan is a massive digital cryptocurrency for peer-to-peer payments. It has the appearance as a way to reinvent itself with a new digital disruptive service. This creative destruction financial concept could go in the Silicon Valley record book to break up global banking models. Yet, the Libra plan has three key major challenges…