This news story of the day yesterday might have been that several international banking institutions were teaming up to participate a project created by UBS Group AG (UBS) to create a new digital currency which will (like other forms of cryptocurrency) clear and settle through block-chain technology. Big titles like Barclays (BCS), Credit Suisse (CS), HSBC Holdings (HSBC) and others have become
a member of the effort. UBS thinks that may kick-start this thing in a restricted way toward the second fifty percent of 2018. That’s interesting.
The new coin, known as the “Utility Settlement Coin” will — if developed as prepared — allow financial companies to pay for stocks and a genuine without waiting for traditional cash transfers to be completed. All of us all knew that someone would notice that Bitcoin got to become a threat to the method business was done, and either try to muscle tissue their own way into space or muscle existing cryptocurrencies out. The queries in my mind, at this point, are plenty. For one, when do the planet’s largest central banking institutions get involved? Those controlling cash supply in reserve foreign currencies has much power to shed if they do not defend themselves. My guess is that when they will feel that they need to, defend themselves they will.
Does that mean some type of cooperation with the likes of what we see developing right here, or does it mean the elimination of?
It is simply no secret that blockchain technology is thought of as safer than systems currently in place. Just how disruptive will the central banks allow this technical shift to be? Heck, We don’t know. I do know that I am glad that I am lengthy Nvidia (NVDA). You may or may not have listened when Nvidia CEO Jensen Huang said in the earnings contact earlier in August the fact that cryptocurrency boom was environmentally friendly. Advanced Micro Devices (AMD) has been the recent competition in this space. These are two chip makers who are the leading miners in this field.
The dominance of the semiconductors as a group is going nowhere, so long as chips are needed to acquire blockchain. Then we can discuss artificial intelligence, machine learning, video games, autonomous driving, every other currently pertinent technology business line under advancement.