Millennial’s Appetite For Cryptocurrency Rapidly Increasing

The Global Chair of Financial Services at Edelman, Deidre Campbell has stated that cryptocurrency is still a favorable long-term investment for millennials.

According to Campbell‘s study, 25 percent of millennials are already using or holding cryptocurrencies and most have expressed dismay for not buying it sooner.

The survey reveals that 30% of the respondents on the survey are interested in investigating and studying cryptocurrencies with the intent to invest in the short term.

It also reveals that 55% of millenials already invested or planning to invest in digital currencies.

It has been widely believed that the inefficient systems and outdated models that are not tailored to young investors and the persisting mistrust of millennials to banks have been the main reasons why many of them are turning to alternatives to provide financial services and investments.

The entry of cryptocurrencies during the height of financial crisis presented a perfect opportunity for the new asset to emerge as a major player in the financial market sector.

Current Bearish Market Sentiments Good For Crypto Community

The co-founder of Reddit, Alexis Ohanian shares his sentiments on the current state of cryptocurrencies.

He reveals that the falling prices of cryptocurrencies may be good for the space as it presents fewer distractions to those who are committed working in the said industry.

Ohanian is a cryptocurrency bull who founded Reddit back in 2005 during his university days in college.

Reddit has become a useful resource for Bitcoiners which gave him a rare opportunity to see the beginnings of the emerging technology and engage the people in the industry.

He emphasized that rather than dwelling on the price movement of the industry developers now can concentrate in developing projects which have real use cases.

He also cited an example when bitcoin fell from $1000 to $250, a crypto winter that lasted years but as a result people have found ways to innovate within the industry which brought about the creation of Ethereum.

Bitcoin An Important Concept According To Marc Andreessen

Technology and venture capital legend, Marc Andreessen has expressed again his positive stance on Bitcoin and cryptocurrency in general.

He recently revealed that cryptocurrency is fundamentally new and a very important concept.

Coming from such an influential person that statement indicates that the industry continues to gain support despite current unfavorable market trend.

Marc Andreessen who is an early supporter of many early-stage internet’s foremost startup came in full support of cryptocurrencies since 2014 when Ethereum was just a concept and when Bitcoin was far less valued.

In a New York Times Op-ed piece that was published in 2014, he likened Bitcoin to the internet and personal computers (PC) which holds enormous promise and would disrupt industries.

In a recent interview he compares Bitcoin to religion as an emotionally-loaded concept which people is unable to just simply, objectively and dispassionately look at without coming to a preemptive conclusion or criticism.

However despite this seemingly incessant criticism from a wide range of people who do not believe, understand or try to understand what cryptocurrencies are, it survived and thrived.

In Andreessen’s own word” it just is” and his company remains excited about its prospects saying that he and his company will continue to make investments in the industry.

Major South Korean Hospital Developing Medical Information Services Infused With Blockchain Technology

It has been reported that one of the largest South Korean hospital is developing a blockchain-powered medical services platform.

Myongji, located in the City of Goyang, South Korea, has signed a Memorandum of Understanding (MoU) with Korean IT company BICube to creat a healthcare information exchange system.

The aim of the project is to build a hybrid cloud that combines public cloud and private cloud.

This will allow patients to share sensitive medical data with other medical institutions upon authorization, without the data being stored centrally.

Both organizations plans to commercialize the service by 2019.

Companies from different industrial sectors have created ways to leverage this emerging technology veering away from the finance sectors.

Affirming what blockchain proponents have been telling for years that its use-case goes beyond the realm of financial industry.

One of this industry is in the field of science and medicine.

City In China Launches Blockchain Platform For Real Estate Data

It has been reported that the Chinese City of Loudi of the Hunan province have launched a blockchain platform to store real estate date.

The said platform is supported by land, tax and real estate departments in the city.

The new platform seeks to improve the efficiency of process of the said departments, especially those that requires the submission of official documents.

China is one of the countries that is actively adopting blockchain technology on both the public and private sectors.

This can be seen by the number of patents submission where in China is leading the blockchain arms race holding the most number of blockchain patents.

It has also been one of the first countries to implement blockchain related initiatives.

This is despite the fact of its negative stance on cryptocurrencies.

Aside from the project mentioned above, the People’s Bank of China has announced the Guandong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform for cross-border trading. The project was initiated last September.

This was followed by the announcement in the same month of the Bank of Communications issuing digital mortgages worth $1.3 billion secured by a blockchain platform.

This follows an earlier blockchain-related project of Agricultural Bank of China that issued a loan using blockchain worth $300,000 USD backed by a piece of agricultural land.

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