Visa’s Digital Dollar / $21bn Enterprise Blockchain Market By 2025 / Reddit Beats Facebook To Tokenized Community
May 20, 2020
This week in the landscape…
BONUS: I recently released the latest Q1 2020 edition of my Blockchain Landscape Map (included below for download) that provides an overview of the industry highlighting over 900 global companies, venture funds, and working groups. If this is the first version you’ve seen of the landscape, consider it your guiding roadmap to further navigate the industry. Get it here in Hi-Res for free!
Visa has filed a patent application with the United States Patent and Trademark Office to create digital currency potentially using Ethereum as the blockchain. The application describes a centralized process to maintain the value of the stablecoin as every time a dollar worth of digital fiat currency is generated. The central entity ensures that a corresponding physical dollar bill is removed from circulation, to regulate the value of the digital fiat currency. This could be applied to other central bank digital currencies (CBDCs) such as Pounds, Yen, and Euros, and so the physical money of a central bank anywhere in the world could be digitized…read more
Fortune Business Insights estimates that the blockchain technology market will reach $21 Billion by 2025, which stood at $1.64 billion in 2017, exhibiting a CAGR of 38.4% during 2018–2025. The reasons which accelerated growth of the global blockchain technology market are like an increased investment from more enterprises and rising interest from the public or government authorities. IBM is leading the enterprise blockchain field, followed by companies such as the Linux Foundation, Chain Inc., Oracle Corporation, Fintech & Blockchain Software House, Deloitte, Microsoft Corporation, and many others…read more
Reddit, the popular online forum is going to launch two Ethereum-based tokens named $MOONS & $BRICKS for users to earn rewards for contributing content, The Block has learned. Under its new initiative called “Community Points’, the two tokens $MOONS and $BRICKS will be issued to members of the subreddits /r/Cryptocurrency and /r/FortniteBR, respectively. Until the system is beta testing, Reddit members can use the tokens to vote, tip content creators, and transfer funds…read more
Its believed that the cryptocurrency and blockchain sectors are almost exclusively male-dominated., while a recent report outlined that the number of women in the industry increased by 43.24% in the first quarter of 2020. Several key factors contributed to this growth, including increased investment from women in Bitcoin; crypto trading isn’t a “boy’s club”; cryptocurrency is becoming more comfortable to use, and geographic factors like the number of cryptocurrency users in the U.S. and Europe…read more
The ETH transition included in the initial plans of ethereum has grown to be a contentious topic following delays and missed deadlines. During an appearance at CoinDesk’s Consensus: Distributed, Vitalik Buterin appeared to confirm a July launch date put forth in February by the lead researcher of the Eth. 2.0 project, Justin Drake. Eth 2.0 represents a fundamental shift from a Proof-of-Work (PoW) consensus algorithm like Bitcoin’s to Proof-of-Stake (PoS)…read more
A deal between Australian mining giant Rio Tinto and Chinese steelmaker Baosteel was carried out over the blockchain trade finance network Contour. In this deal, Standard Chartered has issued the first blockchain-based international letter of credit transaction using China’s national currency, the Yuan. The Contour platform is built using Corda technology from R3, the enterprise-focused blockchain software firm…read more
Telegram Messenger officially scrapped plans to build a digital ledger for transactions after the court granted an injunction to prevent Gram’s distribution. The SEC accused Telegram of violating securities laws by selling $1.7 billion of its Gram cryptocurrency to investors in 2018 without registration. CEO Pavel Durov said, “his instant-messaging platform is discontinuing work on the project, which ran afoul of regulators. Others may continue working on the technology”, he said in a blog post…read more
More For Your Week:
DApps (Decentralized Apps) Watch
Chainlink is rolling out its Verifiable Random Function (VRF) service, where subscribers can gain access to provably random values needed for demonstrating the integrity of smart-contract-based projects such as online games. With Chainlink VRF, you know an application hasn’t been tampered with — all via the blockchain. The smart contracts will send a seed to a ChainLink oracle, which will generate a random number using Chainlink’s VRF. The resulting number, broadcast back to the application, can be verified as random based on the oracle’s public key and application’s seed. Decentralized finance (DeFi) lottery PoolTogether is the first subscriber to Chainlink’s VRF…read more
Proof-of-Work (PoW) remains popular with Bitcoin, especially with the planned shift of Ethereum to a Proof-of-Stake (PoS), Ethereum 2.0. With this shift, experts expect interest in PoS, as well as in ETH, to increase. However, despite the optimism around PoS blockchains, there are concerns around low liquidity and whales being the most significant risks to PoS blockchains. A shortlist of the biggest PoS platforms in crypto includes EOS, Tezos, Tron, Neo, Dash, Waves, Cosmos, Qtum, VeChain, and upcoming Ethereum 2.0…read more
🎟️ Upcoming Events
🎙️ State of the Blockchain Industry Q1 2020:
Available now, download your hi-res copy of the Q1 2020 edition of the Blockchain Landscape Map. This is now the fifth edition of the landscape I’ve released and includes 747 companies (900+ total unique companies including broader key Ecosystem players) and more than $22 bn in funding raised across the landscape from 2010–2020 — over $18 bn invested since 2017! — Noticeable cycles emerging and full breakdown available.
A full 60 min video overview of the landscape is now available here and free for all. In the video, I breakdown the 2020 landscape, provide a summary of 2019, emerging trends for 2020, DeFi, Libra, CDBCs, Stablecoins, DApps, and more!
👉 Download the NEW Blockchain for Infrastructure Landscape Q1 2020 edition for insights on DeFi, DApps, Infrastructure, Digital Currencies, and more!
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