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“This book teaches how to make money with bitcoin and blockchain,” says Sir John Hargrave, author of Blockchain for Everyone

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John-Hargrave-Blockchain

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We had the pleasure of sitting with Sir John Hargrave to chat about his latest book, Blockchain for Everyone.

If you grab a copy of this book from Blockchainforeveryone.com, you can get $25 worth of DAI to your wallet. That means you are getting the book for free until DAI reserves last.
Blockchain-For-Everyone-CovePlease note that we do not have any referral or sponsor relationship. We just want our audience to take advantage of the offer before the DAI reserves run out.

Sir John Hargrave is a spiritually inclined, passionate blockchain influencer.

Although he bought his first bitcoin at $125, he did not sell it when the market hit its all-time high of $20,000. “I believe that over the long term, this is the most exciting digital asset class. I also picked up some additional altcoins, and part of my book is to teach people on how to think about these as part of investments,” he said.

There is a lot of room to make money in the blockchain and crypto space

Blockchain-MoneyWe are still in the nascent stages of the blockchain technology. Sir John’s team was reminded of how early we are in the space when they were collaborating with the DAI Group to make the free giveaway possible.

Even with the expertise and knowledge that Sir John possessed, it was not an easy system to set up. And that is one of the problems we have in the space.

However, these problems actually represent a massive potential for people and companies to make money. Everyone who builds solutions to solve these issues will make a fortune.

It is not about throwing money at things and hoping it will stick. There is a method to being invested in this space, “There is also another idea called Steady drip investing. In other words, set aside a small amount each month, the same amount you put into your overall portfolio, like 60% stocks, 35% bonds, and 5% blockchain investments,” he said.

For those who do not want to spend an exorbitant amount of time researching, Sir John’s book, Blockchain for Everyone, offers an easy start, “You are going to learn how to make money with bitcoin and blockchain, in a really entertaining way,” Sir John said in response to our question about ‘describing his book in one sentence.’

Every portfolio must have blockchain-based assets   

Sir John shares similar sentiment to that of Yale University professors, Yukun Liu and Aleh Tsyvinski, who said that every portfolio should have 6% cryptocurrencies.

However, Sir John takes this idea of cryptocurrency diversification a step further.

Sir John says, “You can buy bitcoin, you can buy altcoins, and you can also invest in traditional stocks of companies that are investing in the blockchain space, like IBM, Accenture, and Bank of America. Anybody who is applying for patents in the blockchain space.”

One world currency is a true possibility

one world currencySir John says blockchain presents an opportunity for the Nations across the world to come together and build a world currency.

“One world money for one human species of one world, that’s an amazing opportunity of a lifetime,” he said.

Having such a global currency model opens the market for new opportunities and cross border trade. It will also bring about a normalization of living conditions in most underdeveloped countries as they start competing on the global platform.

Sir John shares his enthusiasm about this possibility, “Global currency for the global economy. That is going to open up trade, and it’s going to provide access for the unbanked. It’s going to unlock this new era of prosperity and wealth.”

Facebook is bigger than the governments, and that is scary

Facebook LibraFacebook in sheer numbers is bigger than any country size. This means that if Facebook were a nation, it would have been the biggest of all.

Another thing that is going on in favor of Facebook is that people are more tuned into Facebook than they are about the current affairs of their own nation. This means Facebook can sway public sentiment on any topic to its own whim. They even paid a 5 Billion dollar fine, admitting that they did.

Talking about Facebook’s Libra, Sir John thinks that “If anyone can do this, then Facebook can, because they have such an enormous global reach.”

Talking about the power that Facebook wields on public, Sir John commented, “I see things differently from everyone else. Everyone sees Facebook as under the control of the Government, and I see Facebook as above the control of any government. I understand that Facebook is a US Company, and they have to abide by the laws. But the power that Facebook wields, in reality, is much greater than the power of the US government.”

Thinking to invest in Altcoins?  

invest cryptocurrencyYou do not have to buy bitcoin or cryptocurrencies to invest in the blockchain space. As Sir John said – you can start with owning shares of the companies that are investing heavily into this space. That is one way to start early and grow with the space.

Instead of trying to learn all the lessons by yourself, you can learn from the industry experts like Sir John.

Sir John’s team also offers a free scorecard that helps you analyze the altcoin projects on your own.

“We have what is called Blockchain Investor Scorecard, and it’s a free scorecard for reviewing and rating different altcoins with 25 different criteria you can use, and we will walk you through it. Here’s how to look at an altcoin and decide whether it is a good investment or not.”

CryptoTapas wishes Sir John and his team great luck with the book and all the endeavors they have undertaken to propel the blockchain and cryptocurrency space. We need more people like him to bring about the adoption sooner.

John-Hargrave-Interview

CryptoTapas: Congratulations on publishing your book: Blockchain for Everyone.  Let’s begin by you telling us a bit about yourself and how you got started in the blockchain space?

Sir John Hargrave:
I bought bitcoin in 2013 when it was $125. It was hard to buy bitcoin back then, as such, I had to make a wire transfer to Belarus, and I did not know where Belarus was.   I had to go to my bank and make an international money transfer. The irony was, when I made this transfer to buy bitcoin, it costed me $13 and it was going to take 3 days to make the transfer.  To say it was slow and expensive to send money overseas is an understatement. However, the irony was that Bitcoin was going to disrupt that very thing. 

That change is slowly coming to pass and remains to be one of the biggest use cases of digital assets. 

Fast forward, 4 years later, my bitcoin was worth $20,000 which I bought for $125.  That was almost 16000% increase in value.  

Media ShowerI had this marketing company called Media Shower and I said, we are going all in on blockchain.  We are going to turn into a blockchain marketing company because this technology is the future.

2017 was a mania, everything was making money and then with the 2018 Crypto winter,  things slowed down.  

The book I wrote, Blockchain for Everyone, is a story of me buying bitcoin and betting my company on blockchain and this crazy rollercoaster ride we had since then and how we have to transform ourselves through that amazing journey.

It is exciting times.  We are building a new internet of money.  That’s how I define blockchain, the internet of money, one money for one world.  Global currency for global economy. That is going to open up trade and it’s going to provide access for the unbanked. it’s going to unlock this new era of prosperity and wealth. 

We have to think of ourselves as an American second and humans first.

One world money for one human species of one world, that’s an amazing opportunity of a lifetime.

CryptoTapas: This is a bit of a personal question. Did you sell any of your bitcoins at $20,000?

Sir John Hargrave:
No, I have not sold my bitcoin. I believe in its long term potential. I did give some away. However, I believe over the long term, this is the most exciting digital asset class. I also picked up some additional alt coins. And part of my book is, how to think about these coins as part of investments.    

Talking about Blockchain as an investment is an oxymoron. First, you are dealing with Bitcoin that has been associated with the dark web and give Bitcoin some legitimacy; and second, making people think about this as an investment opportunity. 

The way I describe it to people is it should be a small part of your overall investment portfolio.  If you have a big portfolio, 2.5% or 5% or maybe even 10% of your portfolio can be in bitcoin and some altcoins.  If you had put a small portion of your portfolio into bitcoin over the last 4 years, that portion of your portfolio would have increased 4x.  

This  kind of opportunity is open to all of us now and we have to educate the investors.

CryptoTapas: In your opinion, will we ever see gains similar to or surpassing 2017?

Sir John Hargrave:
I try not to make predictions about the future.  I will say that I do believe in the long term value of the blockchain space and there are many ways to get involved.

You can buy bitcoin, you can buy altcoin, and you can also invest in traditional stocks of companies that are investing the blockchain space, like IBM, Accenture, Bank of America and companies that are  applying for patents in the blockchain space.  

There is also another idea called steady drip investing.  In other words, set aside a small amount each month, the same amount you put into your overall portfolio, like 60% stocks, 35% bonds and 5% blockchain investments.  

If you do that every month, then you can take your emotions out of the market movements and avoid riding that rollercoaster. You just calmly and patiently keep investing, eventually this will grow, in my view.

CryptoTapas: What are the things that really excite you about the blockchain space?

Sir John Hargrave:
This idea of one world money to me is what is most interesting.  Whether it is bitcoin or some other altcoin like Facebook’s Libra, whatever it is, there is going to be global money.  All the nations have to work together. They cannot outlaw it. It is like outlawing the internet.

You also don’t want to make it illegal because then that money goes elsewhere.  What I think our government must do, all of our governments, is to collaborate, almost like the United Nations, they have to come together so that all of them have a seat at the table and help influence the direction of this global money.

CryptoTapas: Do you think Facebook’s Libra currency will ever get off the ground?

Sir John Hargrave:
If anyone can do this, then Facebook can, because they have such an enormous global reach.   I see things differently from everyone else. Everyone sees Facebook as under the control of the Government and I see Facebook as above the control of any one government.  I understand that Facebook is a US Company and they have to abide by the laws. But the power that Facebook wields, in reality, is much greater than the power of the US government.  

Facebook is more imbedded in our heads and in the heads of people all around the world than the government.  

CryptoTapas: Facebook in numbers is close to a 2.4 billion user base company.  That is bigger than India, and part of China, combined. And it scares the governments to think that Facebook can wield more power than any single government on the face of the earth if they were to successfully launch their own currency.

Sir John Hargrave:
Facebook covers 20% of total world’s population and they are right to be scared about it.   Because that could threaten the sovereignty of the US dollar or any other National currency.  The power of the United States, in our case, comes largely from the power of the US dollar.

Problem is, the genie is already out of the box. If it’s not Facebook, it will be someone else and you cannot fight these anymore than you can fight the internet. This type of globalization is a force that wants to happen.  World wants a single kind of money and what we can do is work together to lead the conversation. 

CryptoTapas: Do you believe Blockchain is for everyone?  The reason I ask is that there is still some taboo attached to the conversation of blockchain and bitcoin.

Sir John Hargrave:
Is money for everyone?  

Yuval Noah Harrari who wrote the book “Sapiens”, I quote him in Blockchain for Everyone, and he says “Money is the most successful human invention ever devised.” Because, we do not all agree on the same religion or political structure but we all agree on money.  In essence, it is the greatest method of human cooperation that we have ever invented.

And he is right.  We all believe in money in one way or another. So when I say Blockchain is the internet of money, I mean, internet of value.  That includes money, rewards, loyalty points, etc, anything of value. 

However, blockchain as a technology is very confusing for most people. And the very first idea of writing my book is I wanted to make it accessible by reading the book from cover to cover and learn something that they can then use in the real world.

That’s why, after several rewrites of the entire book, I ended up writing the book as a story, like a move, with act 1, 2 and 3.  So, you basically learn about blockchain through the story of our personal journey in to the space.

By making it accessible by everyone, our goal is to make everyone interested in the technology so that everyone begins using this new type of digital money. 

Our plan is very large and very long term.  What we are doing right now, what CryptoTapas is doing right now, is going to last for the next 100 years, which is capture these stories so that future historians understand how we all did this, how we built this new internet of money.

CryptoTapas: In your view, what is the one thing that is stopping people from getting into Bitcoin and altcoins?

Sir John Halgrave:
Education is the major issue.  I am very passionate about educating the space about the real value that blockchain, bitcoin and all of these altcoins, as well.

The other piece of it is just user friendliness of the technology.  It is still hard to get into crypto. 

For instance, we are giving this give away with the book, where you go to Blockchainforeveryone.com and purchase the book for $25, we are giving $25 in DAI cryptocurrency with every purchase of the book.   That is, book costs about $25 and you are getting $25 in DAI.  

To do this DAI give away, it has been really difficult.  

The logistics surrounding giving away this free DAI is still slow.  It is not DAI issue, it is just the complexity that surrounds the infrastructure around installing wallet, transfer to wallet, etc.  

This has reminded me again that we are still at the very early stage of this technology.  Coinbase is trying to spearhead this space and we will get there.

CryptoTapas: For those who are on the fence to buy the book, what is one thing you would say, other than the fact that they are getting this for free if they buy it from your website and get $25 in DAI back. 

Sir John Halgrave:
It’s simple. You are going to learn how to make money with bitcoin and blockchain, in a really entertaining way.

That’s the best way I can describe it in one sentence.

CryptoTapas: Do you also talk about altcoins in your book?

Sir John Halgrave:
We do. We have what is called as Blockchain Investor Scorecard and its a free scorecard for reviewing and rating different altcoins with 25 different criteria you can use and we walk you through here’s how to look at an altcoin and decide whether it is a good investment or not.

CryptoTapas: Thank you John for taking time to speak to us on a Friday evening. We appreciate it.

Thank you for reading the article.
Libra Image Source: “Libra Coin 3D Render”by btckeychain is licensed under CC BY 2.0
All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
Subscribe-staying-relevantIMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

Read more about the author here.

CryptoSpace

Projects to Keep an Eye on Going into 2021

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Top projects for 2021

We have been wrong numerous times about our calls but that is not going to deter from looking forward to 2021.  

So, here we go with the 2021 project call out. DYOR before investing your hard earned money.  

We understand not everyone has the same level of patience or resilience for excruciating pain of financial loss, so tread in fashion what suits you.

Quick note: Below list is not the same as the projects we picked in this FREE report. Below is looking at 2021 and the report lists projects that have longer term potential. 

Here are the projects that we are keeping an eye on for 2021 (we are hoping these could break out in a meaningful way before the end of 2021).

bitcoinBitcoin: The king of crypto might continue to surprise people by reaching the elusive $50,000 mark in 2021. Whether it reaches that mark or not, it continues to be a great entry into crypto, in our opinion.

Polkadot Defi EcosystemPolkadot: DOT is trying to get what Ethereum has gotten wrong.  Will DOT replace Ethereum?  In our opinion, no. Ethereum has the first mover advantage that is difficult to surpass, however, blockchain is going to emerge into a trillion(s) dollar industry that will have space for more than many projects to succeed. 

Vechain updatesVeChain:  This sleeping giant, in our opinion, continues its sideway journey as we head into 2021.  We suspect more partnerships and more use cases will bring the deserved attention to this mammoth of a project in the supply chain space, one of the more amazing use-cases of blockchain.  Success of VeChain will directly contribute to the success of blockchain space at a macro level.

Icon price predictionICON:  ICON went from 45 cents to $15.  Since then, it has been doing dead cat bounce once-in-a-while at a sub 50 cents level. However, heading into 2021, we might see much needed spotlight on this project with DeFi, staking and interoperability models.

The graph (grt) price predictionThe Graph: Labeled as the Google of the blockchain world which has been in works for over 3 years has made a surprising entry into major exchanges like Coinbase, Binance, Kraken, KuCoin, etc., Project with Coinbase ventures as one of the investors might be Chainlink in the making in the world of indexing blockchain data.

Enjin Coin latest UpdatesEnjin: We love Enjin.  It is going after one of the most lucrative spaces with an immediate use case for crypto: Gaming.  Enjin may also shine in bringing NFTs to the masses and succeed in a big way.  At least, that’s what we are speculating. 

Honorable mentions

Ethereum: First mover.  Tremendous partnerships. Staking with ETH 2.0.  DeFi projects on top of Ethereum.  These are some reasons why Ethereum could surprise people.

Uniswap: DeFi success may directly contribute to Uniswaps success in 2021.

Chainlink: King of oracles in the blockchain may continue its upward trajectory in 2021.  Will the gains be as big of multipliers as they have been 2020, probably not.

Basic Attention token latest updatesBAT: Digital ad space, rewarding users for using the browser, ever increasing publisher and user base, buy-back of BAT by the company.  There are so many things going right for this project, except, it has not garnered the attention it truly deserves.   Things might be different in 2021. At least one can hope.

Those are the projects that we are keeping an eye on and continue to dollar cost average our way into. What are our gems?  Share with the world.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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CryptoSpace

Is this the end of XRP?

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XRP Crash

Our dislike for XRP is well documented on our site…if you have missed them, here is a list of articles where we have made our opinion based disdain clear…

Why we do not support nor invest in Ripple

Ripple or not to Ripple? ‘Definitely not’ says a research report

5 questions we want XRP army to answer!

This is not a personal attack, mind you.  

We just don’t like the idea of a private company printing billions of dollars worth of money that is centrally controlled which goes against the spirit of crypto space.  This is our opinion and we are sticking with it.

Yes, we understand that we might be missing out on life-transforming gains on XRP by staying away from it.  It is OK with us. 

We generally do not trade based on sentiment, however, XRP has always been an exception given what we want Crypto space to represent.

Given all that, we were not surprised at all when the latest FUD around SEC investigation into XRP came out.

Is this the beginning of the end for XRP?

“Justice is on the side that can afford the best attorney” is the common joke in my country…and that seems to hold true for the world in general.

If we are forced into speculating, this is what might transpire in our view:

  • When drafting this article, we were of the opinion that SEC might just let this go through a simple fine (similar to EOS), however, after reading the complaint lodged by SEC we are not really sure that Ripple may be able to get off the hook that easy 
  • Ripple and SEC might compromise on a way forward in terms of reporting requirements, however, if SEC gets what they are going for – Ripple and Garlinghouse may not be able to continue their ‘sale’ of XRP
  • Ripple may use this ‘excuse’ to move its headquarters to a more ‘friendlier’ location outside the US, however, an unfavorable outcome from SEC could jeopardise its chances in most locations
  • Major exchanges could distance themselves from XRP until an outcome emerges to avoid getting caught selling unregistered ‘securities’

Is XRP a security?

We think so.  Of course, the court will have to rule the final verdict but here are the reasons why we personally think XRP is not like other cryptos.

  • Most projects actually are working on a solution and the revenue is dependent on the success and adoption of the project.  On the contrary, XRP had minted 100 Billion at the beginning of the project and kept bringing 1 Billion at a time to add cash to their business.  This means, whether or not there is any adoption – Ripple (and owners) made money by simply selling XRP.  At the time of this writing, owners still control billions worth XRP.  
  • Most projects that run an ICO have a majority of coins distributed to the investors…creators have little say in the way those coins then get circulated…take for example, EOS.  Although the company raised $4 Billion through ICO – they got away with a slap on the wrist because the owners do not control the majority of coins anymore
  • Ripple/XRP executives were caught bragging about how they can sell XRP to keep the business going (notice, they talked about selling XRP to make gains more times than the adoption bringing success);  Unfortunately, these talks are all public records and the SEC may use these in the court proceedings
  • Pages 9 and 10 of the lawsuit is really important where SEC claims that Ripple was warned about XRP being considered a security by a law firm, however, Ripple disregarded these warnings…excerpt 57 and 58 from the lawsuit

“57. On May 26, 2014, Larsen explained in an email to an individual formerly associated with Ripple that the international law firm that wrote the Legal Memos advised “that investors and employees could not receive XRP” because that “could risk SEC designation [as] a security.” Larsen also explained that the XRP he received upon Ripple’s founding was “comp[ensation] for . . . personally assuming th[e] risk” of being deemed the issuers of securities—namely, XRP. 

  1. In other words, as Larsen himself explained, he was paid at the outset in an asset (potentially worth hundreds of millions of dollars) to assume a risk he knew existed—that the sale of the asset could constitute an offering of securities for which he would be held responsible.” 
  • There are allegations that Ripple paid companies to use XRP to ‘hide’ the fact that Ripple is difficult/expensive to use (this in the lawsuit), take a read.

“339. Much of the onboarding onto ODL was not organic or market-driven. Rather, it was subsidized by Ripple. Though Ripple touts ODL as a cheaper alternative to traditional payment rails, at least one money transmitter (the “Money Transmitter”) found it to be much more expensive and therefore not a product it wished to use without significant compensation from Ripple.

Is this an attack on the entire Crypto industry?

We do not think so.

If the SEC wins this case, it will set a precedent against having ‘centralized’ control on the projects without being treated as a security, however, it is unlikely to stifle the projects that do not have centralized control on the supply and sale of the coins, in our opinion.

Our whole [opinion] contention from the beginning has been that XRP does not fit the definition of cryptocurrency.  If anything, we are surprised that the SEC took this long to bring the charges.

It does not matter what we think about the project, what matters is the outcome of this battle. 

Will the SEC make an example of Ripple or will Ripple find a way to circumvent these proceedings.

Things might get very interesting going into 2021 for Ripple, Garlinghouse and XRP.Note: We have to do this to avoid harassment from the XRP army, in case you missed it earlier, this is our speculative opinion.  No one knows what might actually happen.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Transforming Data Center Infrastructure With Blockchain

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Blockchain Infrastructure

Cryptocurrency – just hearing the name – can spark discussion topics on how innovative and controversial it is. However, nowadays, there seems to be a consensus that blockchain – the technological backbone of every form of cryptocurrency – is the former. The latter part of the discussion comes from the fact that cryptocurrency is still new, and needs more improvement, before it can actually be considered a wildly-accepted type of commercial (public) currency.

On the bright side, companies like Google and Goldman Sachs have already started to invest in various blockchain firms. And, it’s expected that sometime in the future, more big-name companies will follow suit, if cryptocurrency succeeds. Therefore, data centers and cloud hosting services must be ready to serve these new blockchain-based companies, as well as their needs, in the coming years.

So, you may be wondering: How did we get here? 

How Did It Start?

Modern blockchain started in 2008 with Bitcoin, which is a peer-to-peer Electronic Cash System. This white paper was a form of cryptocurrency that could live on a distributed network without any centralized authority; and blockchain is the technical backbone of that system, or a distributed digital ledger or database for it. No central authority will be able to manipulate the blockchain, since the whole network contributes to its creation and maintenance.

How It Works

In blockchain, two parties will make a transaction, to which they advertise it to the network. Then, various network nodes pick up multiple transactions, and arrange them into blocks. Afterwards, miners will use computers to add this block to the ledger (or blockchain).

Now, in order to add these blocks to the blockchain, the task requires a lot of computing power. Why? Because each of these blocks come with a sort of attached mathematical puzzle. And, to solve these puzzles, they need computing resources. But don’t worry: these puzzles are what miners are interested in, because they’re usually rewarded with tokens, just for adding a block to the blockchain.

Before the existence of blockchain though, business transaction would’ve been made through a trusted third-party company (i.e. a bank or a government institution), in order to guarantee the integrity of a transaction between two parties. However, blockchain eliminates that need by opening up the possibility for business transactions between parties worldwide, without the need for any financial or government institutions to step in. 

What Blockchain Means For GPUs

The need for blockchain means elevated demand for graphical processing units (or GPUs). As blockchain calculates, miners will have to provide enough computing power for it. And, as cryptocurrencies and blockchain-based applications become more popular, the higher the demand for computing power. That’s where GPUs come in, since blockchain-based calculations are best performed on these units. 

Data centers and cloud-hosting services will also have to look into AMD and NVIDIA graphics cards, in order to better serve the blockchain market; however, these graphics cards can be pricey. And, they’ll have to better optimize their infrastructure to be GPU-compatible.

Concerns?

The most controversy that cryptocurrency has faced is its vulnerability to possible hacking schemes. One can argue that there are major concerns about blockchain hackers taking – or planning to take – advantage of the fact that cryptocurrency doesn’t have enough protection yet to sustain itself, in case of a security breach that can cost millions.

Concerns on cybersecurity for data centers, in that case, seems to have spawned from cryptocurrency market’s promise of immense riches and overnight successes, to where anyone – including bad actors and hackers – will create an ever-growing threat in the cyber realm.

“One example of hacking of cryptocurrency was in January of 2018, when hackers were able to steal more than $500 million (or £380 million) worth of cryptocurrency from the Tokyo-based cryptocurrency exchange Coincheck,” adds Barnard. “Thus, that story, to this day, serves as a warning to what can happen, if cryptocurrency is unchecked. And, this story has many people concerned about whether cryptocurrency is safe to invest in or not.”

Conclusion

As you can see, data centers will have to go above and beyond to better accommodate the growing trend of cryptocurrency. And, to do so, they’ll need a good functioning digital infrastructure, to handle blockchain systems and increasing data processing demands.

This need for the right data center infrastructure is also increasing, since blockchain is expected to greatly impact the following:

  • Finance
  • Healthcare
  • Government
  • Transportation
  • Manufacturing
  • Medicine
  • Logistics
  • Other various industries 

Thus, it’s absolutely necessary for data center service providers to stay competitive, when it comes to such changes in technology, including blockchain. Ultimately, with an up-to-date infrastructure for blockchain to work on, data centers will be able to be sustainable, regardless of any changes and or developments made in the tech world for many years to come.

Author’s Bio: Katherine Rundell is a writer and editor at UK Writings and Academized. In her spare time, she likes to travel to different states, give special talks in various business training courses, read her favorite books (ranging in different genres).

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

Continue Reading

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