Saturday, 21 September 2019

Despite being championed as a decentralized form of money that puts individuals firmly in control of their own wealth, cryptocurrencies mostly remain the preserve of the super-rich and the super-nerdy. 1,000 Bitcoin wallets currently hold 35.18% of all Bitcoins, for example, and only a select few computer scientists understand the inner workings and machinations of blockchains.

Earlier this month, Citigroup boss Mike Corbat, who oversees one of the world's biggest banks, adopted a cautious tone when asked about blockchain technology path to mainstream adoption.

Most of the media’s headlines around blockchain technology center around the outsized performance (and then underperformance) of cryptocurrency, which closely resembled a roller coaster as Bitcoin gained 1,390% in 2017, up as much as 1,935% when it hit a record high of $19,666 in December 2017, before crashing back down to earth in 2018 and settling around $3,400 in January 2019.

Creamcoin Marketcap