Blockchain Report — 11/28/2018

Summary: PwC Says Blockchain Will Be A $3 Trillion Market By 2030; Coinbase Is Launching Over-The-Counter Trading After Large Demand; Mobile Forum Tapatalk Will Reward 300 Million users With Kin Cryptocurrency

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PwC Says Blockchain Will Be A $3 Trillion Market By 2030

According to Cryptoslate, the “big four” auditing firm PwC recently released a report on blockchain technology that examined the industry and its analysis on where the blockchain industry is headed. The report discovered that 84% of companies either have a “live” blockchain project of they are experimenting with blockchain.

For the report, PwC surveyed 600 executives from 15 different countries, including the United States, India, China, Africa and Sweden. Of the 600 executives surveyed, 14% were not involved in blockchain technology in any way.

Another interesting insight that PwC found is that 30% of executives surveyed believe that China will dominate the blockchain industry in the next five years, while only 18% of executives believe the U.S. will dominate the blockchain industry.

Steve Davies, a blockchain consultant who works with PwC, said:

“Businesses tell us that they don’t want to be left behind by blockchain, even if at this early stage of its development, concerns on trust and regulation remain.”

Coinbase Is Launching Over-The-Counter Trading After Large Demand

According to AMBCrypto, Coinbase is launching an agency-only Over-The-Counter (OTC) trading due to massive demand from their clients. The OTC service would act as a compliment to Coinbase’s exchange business, and that this service will benefit clients who want to trading OTC before diving deeply into cryptocurrency trading.

Other large cryptocurrency companies that have offered OTC services include Circle and Genesis. Coinbase wanted to offer OTC trading services in an effort to remain competitive. Coinbase’s Head of Coverage, Christine Sandler, said that OTC trading will massively help institutional investors the most, and there are plans for more developments in the future:

“So we felt that this was a huge benefit to our clients, who can actually leverage both our exchange and our OTC business. So we’re agency only and we have plans to expand the service offering to offer things like delayed settlement and potentially integrating with our custody solution as well.”

Sandler also said that the volatility of cryptocurrency has attracted a lot of attention from financial media, which can lead to institutional investors getting interested in the opportunity that cryptocurrency has as an investment.

Mobile Forum Tapatalk Will Reward 300 Million users With Kin Cryptocurrency

According to CCN, the mobile forum app Tapatalk, which boasts a whopping 300 million registered users, partnered with the Kin foundation to reward its users with the Kin cryptocurrency for posting high quality content on the Tapatalk platform.

Tapatalk has over 200,000 forums in over 186 different countries. The purpose of the partnership with Kin is to increase user engagement with the app. Winter Wong, CEO of Tapatalk, said:

Tapatalk’s integration of Kin marks a noteworthy development in our expansion to reach new users and cultivate further engagement within the broader forum community… The mechanics of Kin will surely benefit existing forum users, while bringing new users into the fold of vibrant, active online discussion communities.”

The president of Kin, Dany Fishel, said:

“People contribute to online communities on a daily basis, but there isn’t an easy way for them to reward other users for their contribution to the discussion… We believe that Tapatalk will be a strong example of how Kin easily facilitates peer-to-peer transactions in apps once users begin rewarding each other for the creation of meaningful, engaging content”

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