Cryptocurrencies like Bitcoin and Ethereum have taken off this year, attracting investment from all over the world and achieving mainstream adoption.<\/p>\n
Blockchain technology is attracting interest from many industries, with the surging price of Bitcoin and Ethereum’s first mainstream application\u00a0CryptoKitties<\/a>\u00a0<\/strong>two recent standouts.<\/p>\n MyBroadband spoke to cryptocurrency expert Simon Dingle about the effects of cryptocurrency and blockchain applications on traditional markets, with financial systems a prime target for disruption.<\/p>\n An increasing number of people are becoming involved in cryptocurrency, valuing the decentralised digital cash above traditional investments.<\/p>\n “Right now, Bitcoin is attracting a lot of younger people away from traditional investments,” said Dingle.<\/p>\n “A recent survey in the USA revealed that 30% of investors between the age of 18 and 34 would prefer Bitcoin over company stocks or government bonds.”<\/p>\n Dingle believes the increased interest and investment in Bitcoin will continue, as it is a store of value, while other cryptocurrencies will put pressure on traditional markets.<\/p>\n This is especially true of Ethereum, which aims to revolutionise the asset exchange, legal, and finance industries with its potential as a decentralised world computer.<\/p>\n Dingle believes that banks will adopt blockchain technology, but that the real change will happen when users forgo traditional banking in favour of decentralised systems.<\/p>\n “Like all big corporates, large financial institutions are playing at innovation while adopting a wait-and-see attitude and engaging with charlatans at large consulting firms and enterprise software companies,” said Dingle.<\/p>\n “Like newspapers 10 years ago, they’ll only realise that the carpet has been swept from under them once it’s too late to prevent a fall.”<\/p>\n He said certain institutions may adopt cryptocurrency in an innovative way, but there is currently little evidence of this happening.<\/p>\n Dingle said the number of young investors putting money into cryptocurrency will probably increase as the debt crisis intensifies and world markets go through a downturn.<\/p>\n “The future is cryptocurrency, and disregarding it requires you to stick your head firmly in the sand,” he said.<\/p>\n Dingle said the entire financial system will eventually transition away from centralised structures to new, decentralised systems where no trusted third parties are required.<\/p>\n “Cryptocurrencies are inherently global and do not operate in terms of borders. This is the first planetary revolution in governance and, as such, is unprecedented.”<\/p>\n “Ultimately, this will change all of society, if successful, and will threaten the nation state, decimating the current status quo of government by fiat.”<\/p>\n Blockchain technology is attracting interest from all industries.<\/p>\n","protected":false},"author":341028,"featured_media":224650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[47786,187,38499,42124,35],"class_list":["post-241184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-adoption","tag-bitcoin","tag-blockchain","tag-ethereum","tag-headline"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/241184"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341028"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=241184"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/241184\/revisions"}],"predecessor-version":[{"id":241510,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/241184\/revisions\/241510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/224650"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=241184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=241184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=241184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Taking over the world<\/h3>\n
Now read:\u00a0CryptoKitties explained \u2013 The massive Ethereum craze<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"