Cryptocurrency about to go mainstream.

The International Monetary Fund issued a staff discussion note stating that banks should consider investing in cryptocurrencies, saying: “Rapid advances in digital technology are transforming the financial services landscape, creating opportunities and challenges for consumers, service providers and regulators alike.

Last week Barclays’ CEO for personal and corporate banking, Ashok Vaswani, revealed the lender had opened discussions with UK regulators about adopting digital currencies.

Crypto- or cyber-currencies are digital-only currencies in which encryption and registry techniques, often called blockchains, are used to regulate the generation of units of currency independent of a central bank.

One of the newest offered to market is Tezos, backed by billionaire venture capitalist and early bitcoin investor Tim Draper of Draper Fisher Jurvetson. According to a prospectus, a total of US$893,200.77 worth of XTZ tokens will be issued on 1 July.
It is a booming, dizzying market. Since the start of the year, bitcoin, the world’s biggest cryptocurrency, has almost tripled in value to $2,565. By some estimates, the cryptocurrency business could be worth $5tn by 2022. There are now close to 800 cryptocurrencies worth, in total, around $96bn.

Three days ago, Pierce launched the token distribution of EOS, a blockchain coin (or token) offering that’s already taken in $100m. “This is a 340-day project that’s already broken every record. It’s 100% certain we’re going to surpass Bancor, the most successful ICO to date.”
He added: “The implications are huge, and it’s going to have huge implications not only on venture, but private equity, real estate, digitizing currency. This is going to be the technology that democratizes the global financial system so everybody has equal access.”