Holiday season is here! This is the time when we’re most likely to reflect on our year, our accomplishments, and everything that’s happened, the good and the bad.
Here at BXB, we like to focus on the good. Crypto and blockchain made the news constantly throughout the whole year, and it was very mixed. What are some good things that happened in crypto in 2019?
1. China’s President Xi Jingping endorses blockchain: this past October, the Chinese President made the news when he publicly endorsed blockchain technology during a Communist Party meeting with other officials, urging Chinese entities to invest a greater deal into blockchain and its many useful applications. Seeing a world power like China endorse blockchain makes us very hopeful for the future of digitized currency and decentralized technology. This brings us to number 2.
2. China announces it will launch the world’s first national digital currency, with increased efforts after Facebook’s announcement of its own stablecoin Libra. The country plans to make its future stablecoin an asset in reducing crime rates and cutting down on corruption.
3. Ripple CEO delivers optimism about XRP’s scalability compared to Bitcoin. He claimed that Bitcoin exists today as a “static thing”, with scalability problems and proof of work as a model with significant limitations, and that XRP is backed by technology that is much more scalable than Bitcoin, extremely low-cost, and fast relative to BTC.
4. Bitcoin surges to over $10,000 in April-June surge. This past June, Bitcoin peaked at $12,920, with prices being more than double from where they started the year. This is great news for Bitcoin HODLers, as their investments were suddenly a lot more valuable.
5. Hong Kong authority voice calls for consistency with business models. The CEO of Hong kong Exchanges and Clearing (HKEX), Charles Li Xiaojia, called on crypto firms to have a more consistent and sustainable business model. This is a great step forward, as these changes will make crypto look better and more legitimate in the eyes of doubters.
6. Tezos Breakthrough. Tezos has been making the news more and more this past year, with great price surges, and a recent surge that put it up by more than 12 percent against Bitcoin. Tezos is an extremely promising altcoin, as its platform is equipped with special tools that provide the ability to automatically update its algorithm, which solves the problem of hard forks, as it was with cryptocurrencies Bitcoin and Ethereum. This will allow the Tezos community to be monolithic and indivisible.
7. Many great and exciting things happened over this past year, but we know there’s stirrings in the world of crypto that will make 2020 a very interesting year. What are you looking forward to the most?