Experts and economic analysts have been continuously emphasizing on the financial impact of crypto on the world economy, as have we at Top10CryptoBots. There have been speculations for a long period that the crypto market will be more likely grown by institutional investors.
Recent events have shown the growth of industries with the help of the crypto market. The recent events that took place from 2nd to 8th of September have clearly shown the upcoming diversions of the money market.
1. Crypto Application by PwC: The giant auditing firm has announced the acceptance of payment will begin from the 1st of October in their Luxembourg branch. As of now, it will be accepting Bitcoin, intending to enlarge their customer’s satisfaction and the prospect of the respective industry.
2. Messaging Giant LINE gets the license for Crypto: The financial regulators of Japan has given license to the LVC corporation which is a subsidiary to LINE. The corporation deals with digital assets and blockchain technology.
3. HSBC issued its letter of credit via a blockchain platform: For the very first time, HSBC has done a transaction of letter of credit via using a blockchain platform. The transaction was done for an oversea trade done by MTC electronics. The Voltron platform was enabled by R3’s Corda, which was used for the purpose.
4. The Marshall Islands to bring its national digital currency: From the political house of Marshall Islands, the recent declaration has been made which states that the nation is all set to bring its national digital currency named Marshallese Sovereign. This step was made to liberalize the monetary policy of the country, as currently, they are dependent on US$. The blockchain platform is suitable for a small country with just 50,000 people.
5. Samsung Galaxy Note 10 is Enabled with Crytpo Feature: Recent report states that the all-new Samsung galaxy note 10 has an in-build crypto wallet which will offer some free coins. Kakao Corp is the tech giant behind this feature. The smartphone users will be able to get cryptocurrency KLAY which is an affiliate to Kakao.
All of this news and events suggest that sooner or later crypto is going to become a major money market player. It has wide and large long term applications to the institutes and people overall.