Page 23 - Equity Movement Magazine-Issue2
P. 23
CRYPTOCURRENCY: THE MODERN DAY GOLD RUSH
By: Terrell Bilbo and Lilyvette Rodriguez
Digital/Crypto currencies have become the new buzz very few took advantage of the business opportunity.
words in the tech and financial industries. Why is it Cryptocurrencies interests across the Financial System
important to stay in the know and make moves in these worldwide is indeed on the rise. More than 80% of the
rising sectors? Because Blockchain and the Digital world banks today are experimenting with blockchain
Currency Revolution represents our equivalent of a and bitcoin technologies, and this figure is predicted to
modern day Gold Rush. increase in the coming years.(Please see Chart on page
25) Government organizations worldwide are exploring
2018’s TOP CYYPTOCURRENCIES BY MARKET CAP the use of blockchain technology to improve their
#10: Tron (TRX), $1.93 billion operations. Market adaptation of the bitcoin within
#9: Iota (MIOTA), $2.42 billion stock exchanges worldwide is increasing as well, as
#8: Cardano (ADA), $3.39 billion bitcoin has proven its practicality and viability as a safe
#7: Litecoin (LTC), $4.27 billion asset with the potential to serve as a counterpart to
#6: Stellar (XLM), $4.44 billion economic uncertainty, leading to both investment firms
#5: EOS (EOS), $6.36 billion and individual investors to continuously purchase
#4: Bitcom Cash (BHC), 11.95 billion bitcoin.
#3: XRP (XRP), $16.54 billion
#2: Ethereum (ETH), $41.12 billion
#1: Bitcom (BTC), $119.98 billion
Typically, many take the wait and see approach to take
place before engaging or believing they can participate
in new, unfamiliar and/or untraditional investment
vehicles. Some simply wait for regulations to be
implemented. However, historically when looking back
at disruptive billion dollar controversial industries,
“people of color” lag and end up participating only as
consumers.
Cross-Cultural Cryptocurrency Trends: Hispanics African-Americans
JPM Morgan Chase has one of the first cryptocurrency
created by a major United States Bank. J.P. Morgan is
preparing for a future in which parts of the essential
underpinning of global capitalism, from cross-border
payments to corporate debt issuance, move to the
blockchain. This gives the bank a way to transfer money
at dizzying speeds rather than relying on old technology
like wire transfers. An interesting notation, minority
owned banks adopting these technologies will be critical
not only to their foreseeable longevity but to the
Let’s reference a few economically changing times. communities upon which they service that are primarily
Prohibition - during its inception, moonshine was made minority.
in back rooms, but most missed owning distilleries or
liquor stores. The Numbers business - before the lottery We are currently in a Global Economic New Money
was created, circulated dollars in every community. Revolution and we cannot afford to stand on the
Modern day – investing in the stocks of the brands you sidelines as the new money system takes place. Well, we
purchase or renting the real estate is a missed can, but an opportunity for financial wealth will pass us
opportunity to own the real estate. The dotcom boom by. This Digital Currency and Blockchain revolution are
which created a new generation of millionaires and poised to be bigger than any of the aforementioned
billionaires passed many of us by as we only participated disruptive industries. Its disruptor is not exclusive to
as consumers. Finally, the marijuana industry, when the America, but Globally. There are many countries
opportunities to run and operate legal cannabis shops positioning themselves to be a leader in Digital Currency
and grow, the sidelines were lined with bystanders and such as Singapore, Hong Kong, Estonia and Switzerland.
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