New Technology Will Replace Blockchain And Boost Cryptocurrencies Value
With the meteoric rise in the value of bitcoin this year and the media cacophony around it, it's a surprise that not all world leaders have spoken about the subject yet. One political figure that we can now rest assure is keeping an eye on bitcoin is Israeli Prime Minister Benjamin Netanyahu. It's a storyline with some powerful parallels to the cryptocurrency stories told and the investments that they now garner. Like the Emperor, investors are eager to get a piece of the innovation that cryptocurrency advocates, which investors and enthusiasts actively and forcefully defend as the future of our global financial services system. The points that I made in those pieces then remain the same today and extend to the cryptocurrencies that have cropped up since.
At the beginning of 2017, the cryptocurrency bitcoin was valued at just under $1,000 and soared up to over $3,000 in May. Cryptocurrencies have seen significant growth in popularity, and alongside the increasing speed of eCommerce transactions, so makes the demand for widespread use. Typically, cryptocurrencies have relegated to the finance industry, but it has started to make inroads over the past few months into the mainstream arena.
The Israeli blockchain industry is booming, fitting naturally into the country's world-renown fintech scene But Hauser warned the Tel Aviv Stock Exchange not to list bitcoin companies until lawmakers establish a suitable regulatory framework.” This movie based on wild volatilely impacting the TASE. For example, stocks for the online gaming company Fantasy Network Ltd. immediately surged almost 400 percent when it announced plans to recruit local blockchain experts. Israeli leaders are curious about cryptocurrency yet eager to keep rapid adoption from disrupting the broader economy.
The Israeli financial press is also focusing on bitcoin as everything crypto-related brings in clicks and viewers these days. The most prominent story at the moment is the issue of a Tel Aviv Stock Exchange listed gold company switching to bitcoin mining. Its stock price jumped 3,750% before the regulator came out against it. Another story currently in the headlines in this context is that of local cryptocurrency developer Colu raising $14.5 million from Israel's largest holding company IDB Development Corporation. The Israeli regulator is also expected to announce a welcoming legal framework for ICOs by the end of the month.
The YouTube video is one of its kind where a world leader would openly address and comment on bitcoin and cryptocurrencies. In the midst of growing concern by governments and Central Banks all over the world over the unstable growth of digital currencies. Prime Minister Netanyahu, a prominent world leader, has expressed his honest opinions on the future of banking.
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