24/11/2017: Biggest Stories in the Cryptosphere
- Air New Zealand Experiments with Blockchain Payments:
National airline Air New Zealand has partnered with Winding Tree to test blockchain blockchain technology in services such as flight bookings and luggage tracking. The main aim behind adopting Ethereum is to cut out intermediaries and connect startups and companies. Air New Zealand is not the first airline adopting the blockchain-based transactions. Lufthansa Group has revealed the development of blockchain travel apps with Winding Tree. Moreover, the German airline took part in the public presale of Lif, the Winding Tree Token.
2. Survivalists Store Bitcoin Instead of Gold:
According to Steve Wozniak, Bitcoin is “better than gold”. Charlie Morris, Stanley Chief Investment has surveyed hundreds of executives attending the London Bullion Market Association’s annual conference last month, and one in 10 would prefer owning Bitcoin to gold. People are opting for Bitcoin because of its many features including fungibility, divisibility, portability, and durability. These features mean survivalists think it is a better bet than gold come the apocalypse.
3. Bitcoin: Investment or Currency?
According to Thomas Jordan, chairman of the Swiss National Bank, the phenomenon of cryptocurrencies is frequently discussed there. However, he perceives them more as an investment than a currency. Still, he does not underestimate the impact currencies such as Bitcoin are going to have in the financial sector.
Nikolay Storonsk, the founder and CEO of Revolut, disagreed with JP Morgan CEO Jamie Dimon, who labelled cryptocurrencies a fraud.
4. Investor Interest in Bitcoin Rises
Despite Wall Street’s scepticism, investor interest in Bitcoin is only rising, and wealth managers will have to adapt to the new demand. Cumberland Advisors is just one example of the new trend. Co-founder David Kotok recently discussed how the company’s clients frequently ask about cryptocurrencies, worried about missing out. Yet, the majority of advisers discourage investors from buying Bitcoin, despite being willing to give tips. However, a minority of wealth managers are acquiring the currency with the aim of learning how it works. Despite disagreements about cryptocurrencies, many agree that investing in blockchain-based technologies is a good alternative.