What’s in it for Cryptocurrencies? A Review by IronX
Bitcoin, the world’s most renowned cryptocurrency has shown vital improvement in recent months, giving traders optimism about the asset. The digital coin may not be nearing its 2018 highs however IronX reports that purchasing appetite among investors has increased, especially after it recently hit the whopping $8000 mark.
Many believe the cryptocurrency market is moving up. It is slowly being accepted by more countries and government bodies and further organizations are looking into accepting them as exchange methods for payments. IronX claims that a crypto ETF is soon to be accepted by the SEC which could show promise to market participants and investors. This has tremendously helped the price of cryptocurrencies surge. While there are many leading firms who are taking an interest towards these digital assets, there are still those who cast doubt over investors by warning them to be vigilant of their risks.
Those who own cryptocurrencies should be aware of the many modifications made to the previous usage methods. The gradual acceptance of the new methods will make room for more secure and reliable transactions.
MasterCard has gained the right to offer accounts that enable cryptocurrency transactions using the existing fiat currency system, IronX claims. These user accounts will determine the fiat and crypto amount, the account identifier and address, as well as help the firm, identify fraud. The firm can analyze any associated risk with blockchain transactions using their existing algorithms. They can also access data made available to payment networks including previous fiat and crypto transactions, credit and demographic data –information that is not usually accessible in blockchain networks.
IronX also states that Google is in talks to partner with Digital Assets, a tech company which offers software to create blockchain applications. Google will offer blockchain services to its Google Cloud users, which could improve security issues in global transactions. Thanks to Google’s adoption of such services, blockchain users worldwide can be assured of improved reliability and faster transactions.
When leading companies incorporate blockchain technology into their procedures, it can encourage both positive and negative outcomes. The technology might provide solutions and fix the market. For example, digital coins rallied after Google’s announcement. However, if the technology fails, not only will crypto prices be negatively affected but the brand’s name will, too. While these adoptions are positive overall, what counts most is user protection and that’s what we should be focusing on, many assume.