Bitcoin Price: A Breakthrough Moment for Blockchain Tech?

Bitcoin Price: A Breakthrough Moment for Blockchain Tech?

Bitcoin Price: A Breakthrough Moment for Blockchain Tech?

  • Buz Investors Blockchain Tech While recent jumps in the Bitcoin price are mostly due to government overreach in India and China, there are other reasons to be bullish on blockchain technology.
  • For instance, a new report from consulting firm Deloitte LLP finds that 12% of large companies are developing applications based on blockchain tech. (Source: “Deloitte survey: Blockchain reaches beyond financial services with some industries moving faster,” Deloitte LLP, December 13, 2016.)
  • That number is shockingly high, particularly to people who viewed the technology as distant and experimental. More to the point, it suggests that blockchain has made significant headway in the last few years

Blockchain Tech

Bitcoin Price: A Breakthrough Moment for Blockchain Tech?

Blockchain Tech  That number is shockingly high, particularly to people who viewed the technology as distant and experimental. More to the point, it suggests that blockchain has made significant headway in the last few years, albeit under the radar.

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Since blockchain tech is the basis of Bitcoin, the rapid increase in adoption could help prop up the Bitcoin price. As a matter of fact, it could even drive the Bitcoin price further up and to the right.

However, it is likely going to help the Bitcoin price. We can’t simply forget that Bitcoin was the first and most prominent of the blockchain

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Blockchain Tech

currencies. Visibility is valuable. For instance, consumers were drawn to the “iPhone” during the smartphone wars because Apple Inc. (NASDAQ:AAPL) was first.

All the headlines and media hoopla captured the public imagination. Consumers remembered that the iPhone was the original breakthrough in smartphones, and that distinction afforded Apple an extra chunk of allure and mystique.

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