TMCnet News
Dealbox: Evidence in 2020 Continues to Support Thesis that Multi-Trillion Digital Asset Market is Gaining MomentumCarlsbad, CA, Dec. 14, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire) We are witnessing an undeniable, broad-based expansion of our financial system through the addition of digital assets to the mix. • September – Record trading volume of Bakkt Bitcoin Physically Delivered Monthly Futures contracts, 15,955 contracts, 36% increase over previous record of 11,706 in on July 28, 2020. • September 2020 – Federal Reserve Bank of Cleveland announced that it is working with several Reserve Banks to build and test a range of distributed ledger platforms. • October – HR8524, the Blockchain Records and Transactions Act of 2020 was introduced in the House, modifying the Electronic Signatures in Global and National Commerce Act (ESIGN Act) to ensure that smart contracts and records created and stored using blockchain may not be denied legal effect or validity solely due to the underlying technology. • October – The Digital Dollar Project published proposals for nine pilot programs to identify practical opportunities to test and evaluate key features of US CBDC. • October – The World Economic Forum published blockchain global standards mapping initiative based on input from more than 30 technical standard-setting entities, 185 jurisdictions and nearly 400 industry groups. • October – The White House issued national strategy identifying distributed ledger technologies as one of 20 “critical and emerging technologies” that US government departments and agencies identified to the National Security Council as priorities for their missions. • October – Seven central banks (the US Federal Reserve, the European Central Bank, and the central banks of Canada, England, Japan, Switzerland and Sweden) and the Bank for International Settlements issued a report outlining three key principles for Central Bank Digital Currencies (CBDCs). Against this backdrop, Fidelity Digital Assets conducted a survey amongst almost 800 institutional investors across the US and Europe, and found that almost 80% find digital assets appealing, 36% are currently invested in digital assets, and 60% believe that digital assets have a place in their investment portfolio. Tom Jesop, President of Fidelity Digital Assets said that: “These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investible asset class. This is evident in the evolving composition of our client pipeline.” The upshot from all of this, is that with institutional support, investment (retail and institutional) will continue to stream into the digital asset class. In turn, this will drive liquidity, which will attract more investment, and the digital asset market self-reinforces. Thomas Carter, founder and CEO of DealBox, Inc; read about Thomas: “This FinTech Veteran Is Making Cryptocurrency Startup Funding Legitimate“; connect on LinkedIn and Instagram. The post Fintech Mogul Thomas Carter Predicts Trillion Dollar Cryptocurrency Market Cap in 2020 appeared first on Yahoo News. About Dealbox Thomas Carter Founder & CEO DealBox, Inc. [email protected] https://dlbx.io |