To start we can’t miss what will happen in May 2020. A particular event will occur on the Bitcoin blockchain, the “Halving Day”.
In the history of bitcoin, it will be the third time that “Halving Day” occurs. The market has had an upward trend for this event, which takes place every four years.
You should know that “Halving Day” does not concern all blockchains and cryptocurrencies. Miners use computers with large computing powers to solve the mathematical problem. As a result, miners are rewarded for validating blocs. Following this “Halving day”, the minor’s reward will only be 6.25 bitcoins!
Consequently, we look forward to see the impact in the price of bitcoin up or down! Will it be accessible to a handful of people?
Another subject is the development of blockchain in the banking sector.
Blockchain was considered as a mystery. According to a study, present on the Hackernoon site, this new technology which at first was scary has now taken up.
The world of industry financial is seeing the benefits that this technology can bring. The goal is to find projects that work. For instance, develop new financial applications or create your own currency.
Blockchain technology is already used in several sectors. Here are some concrete examples! The banking sector has taken matters into its own hands, especially for data security. BNP Paribas collaborated in early 2018 with a start-up to improve the KYC “Know Your Client” system.
JP Morgan has put in place a value exchange. A possibility of value exchanges which has become instantaneous as he does not require a third party. JP Morgan understood it.
The client deposits funds into a special account. In return, he receives the equivalent in cryptocurrencies, the “JPM Coins“. Consequently this coin is only used for network transactions of the bank. JP Morgan implemented this strategy in early 2019. Therefore, some banking organization were already using blockchain technology for the network transactions.
In conclusion, 2020 will be a year to watch closely. The big names in finance will put forward ideas to develop their projects. An idea shared by “Fintech Futures” which published an article at the start of the year.
MESSAGE CONCERNING THE COVID-19!
The whole world is concerned and fear has settled in people’s minds! Lots of countries are affected more or less at large scale. So, we must remain positive in this kind of circumstance despite all the difficulties encountered!
We send a message of support to everyone on the front line. THANK YOU for your involvement and dedication!
We will emerge even stronger from this situation!