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Fundstrat Global Advisors issues its 2019 crypto outlook stating that the major coins will soon recover. New York-based research company Fundstrat Global Advisors has released its 2019 crypto outlook on Friday, Feb. 8. The analysts describe incremental improvements that will purportedly support higher prices for cryptocurrencies. Tom Lee, Fundstrat’s co-founder and pro-crypto Wall Street analyst, commented on the study in his Twitter. He posted an introduction to the study and infographics that trace key market tendencies from 2017 to now. “We see 9 incremental improvements in the landscape that ultimately support higher prices,” Lee’s tweet states. The preview of the introduction chapter provides a brief assessment of 2018, which, according to Fundstrat, has brought a lot of disappointment. The analysts state that negative headwinds, such as the initial coin offering (ICO) post-hangover, adverse regulatory developments and excessive exuberance have reversed some of crypto’s achieveme..
A recent report from JPMorgan reportedly notes the potential for blockchain technology in banking and payments. Experts at financial services giant JPMorgan say that blockchain technology will provide benefits to banks and payment systems, Bloomberg reports on Jan. 29. JPMorgan’s chair of global research, Joyce Chang, said, “Blockchain isn’t going to reinvent the global payment system, but it will provide marginal improvements. The most meaningful impact will probably be three to five years away and mostly on trade finance.” A recent report led by Chang purportedly states that blockchain applications in trade-finance are more common because of the high potential gains from efficiency through digitization. She reportedly noted that, while cryptocurrencies have attracted the most attention, the underlying technology of a distributed ledger is more important. Chang pointed to the Interbank Information Network (IIN), which consists of 157 member banks internationally. IIN was developed b..
11 Indian banks are involved in consultations to bolster blockchain-based supply chain financing for micro, small and medium sized businesses. Banks in India are collaborating on a new blockchain platform to remove financing hurdles for micro, small and medium size businesses (MSMEs), local daily news outlet Economic Times reported Jan. 28. A total of eleven banks — including second-biggest lender Kotak Mahindra Bank, State Bank of India and ICICI Bank — are already meeting to discuss the implementation of a platform that will make it easier for businesses with smaller turnover to raise funds transparently. The move is being organized under a consortium dubbed the “Blockchain Infrastructure Company.” “Credit penetration is low for the [MSME] sector where the ticket size is generally believed to be between 10 lakh rupees [about $14,000] and 1 crore rupees [about $140,000],” Viral Acharya, Deputy Governor of India’s central bank, the Reserve Bank of India (RBI), said at a conference las..