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State Bank Cryptocurrencies
According to blockchain architect, Biser Dimitrov to Livecoins, the trends for 2020 are the succession of movements initiated in 2019, with a major highlight being the creation of state currencies and central banks.
Since 2019, China’s cryptocurrency is highly expected, especially after several news reports about the country’s increased use of Blockchain technology and the partnership with technology giant Huawei for the Central Bank of China cryptocurrency research project.
Other state and central bank currencies that are also on the agenda are that of the European Central Bank, suggested by French Minister Bruno Le Maire after the Facebook Libra announcement, as well as the idea of Bank of England governor Mark Carney about creating of a cryptocurrency similar to Facebook’s Pound by Central Banks.
Dimitrov also said 2020 will be the year of the stablecoins. Cryptocurrencies backed by assets or fiat currencies have become increasingly popular, a great example of which is Tether, which has a market capitalization of $ 4 billion and is adopted by several global crypto exchanges.
According to Geraldo Marques, co-founder of WiBX, what will drive the growth of stablecoins in 2020 will be the search for investors for less volatility in cryptocurrency exchange, as well as their link with blockchain technologies that guarantee decentralization, privacy, transparency and security for companies. transactions, as investor Oleg Spilka comments in an article for Investing.com
Tokenization of real assets
In 2019, Security Token Offerings (STOs) were very high and intend to continue growing in 2020. Proof of this is in the launch of ReitBZ (RBZ), aanSTO aimed at the furniture market created by BTG Pactual, the largest independent investment bank From Latin America. The RBZ is a representation of real estate assets not honored by their former owners, being a token that can be acquired by investors around the world.
However, it is not only the real estate market that will gain new spirits with tokenization, but butBTG also intends to extend this initiative to other markets that present good profitability in 2020 in a scenario of low-interest rates. In addition to BTG Pactual, as André Franco of Empiricus Research comments to MoneyTimes, the Swiss bank UBS also has tokenization of assets in its plans for 2020.
The efficiency of the distribution process, the low cost and the facilitation of access to liquidity globally are some of the main factors that pull the STO market in 2020.
Large companies investing in their own cryptocurrencies
This year, big companies announced the initiative to create their own cryptocurrencies. One of them, surrounded by many speculations and obstacles along the way is Facebook’s Libra. Another company that surprised the world by announcing its native token is the largest American bank, JP Morgan Chase.
Libra and JPM Coin are scheduled to launch in 2020 and aim to facilitate international trade, eliminating the slowness of the process and the need for third-party interventions.
In addition to the launch of these tokens, there is a great expectation that more companies will decide to take the next step in the universe of cryptography.
Rise of token-based applications
With the Brave Browser’s success story exceeding 10 million users in 2019, token-based apps have come to figure as a strong trend for the year 2020.
In addition to Brave, Steemit, Alluva, and WiBX also performed well in 2019, paving the way for the token-based apps market to grow further in the new decade.
Steemit is a blockchain-based social media and blogging site that “rewards” its users with the STEEM token for publishing and curating content within the platform. Steemit, created in 2016, already has 1,238,717 registered users.
Alluva is a platform that describes itself as a blockchain-based product that allows users to predict and classify cryptocurrency assets. The goal is to create data for use by investors from startups, retail, institutional and cryptocurrencies. Alluva is a project by Oddup, a startup classification company.
WiBX is a token aimed at the retail sector, used for exchanges between brands and consumers. This token is supported by the exchange market Bitcoin and can be used on the Wiboo platform. Currently, WiBX has more than 100,000 registered users.
What do you think of the trends for 2020? Do you think there are more things that will be highlighted in the new decade? Share with us!