Bitcoin and Ethereum are bringing investors big gains this year…
Today, I want to provide you with some information that demonstrates where the digital currency sector is heading in the coming years.
Recently, I had the privilege of attending the Second Annual Blockchain Conference in Washington, D.C.
Blockchain, for those of you who don’t know, is the unique technology behind nearly all digital currencies. Bitcoin was the first digital currency to operate using blockchain technology. Today, almost all digital currencies do, including Ethereum, Litecoin, and NEO.
Blockchain is also a powerful tool that has drawn the attention of major companies. Those companies are now working with blockchain and associated digital currencies to develop their businesses.
At the conference, I got to rub shoulders with seasoned digital currency investors, Bitcoin experts, and the corporate heads in charge of researching this technology.
And from them, I learned an interesting truth: Digital currency as we know it is still in its infancy. But we are moving fast…
More and more companies are doing research on Bitcoin and Ethereum.
This indicates that we are just now sighting the tip of a profit iceberg.It also means we are just starting to see the ways digital currency and blockchain technology can change our world.And one digital currency was mentioned at the conference more than anything else: Ethereum.
The Rise of Ethereum
At this point, I bet you’ve heard about Ethereum.
In the past couple of months, the digital currency has been covered by Fortune, Forbes, Wired, and the Wall Street Journal.
But before Ethereum became a media darling, we were covering it on Wealth Daily. In fact, back before it boomed, we wrote a research piece about why Ethereum was poised to do well.
At the time, the digital currency was sitting around $90.
If you had invested after reading that article, you would have tripled your profits.
I don’t say that to brag. Rather, I want to demonstrate how fast profits are being made in this rapidly evolving space. That’s why we put together our digital currency trading guide…
We didn’t want investors to miss out.
That said — even though Ethereum soared over 350% since our initial article — the Blockchain Conference indicated that things are just getting started for this particular digital currency.
Ethereum in 30 Seconds
It’s not fair to talk about the groundbreaking events Ethereum kick-started without explaining what Ethereum is.
If you’re already an Ethereum expert, feel free to skip over this. But if you are curious about how this digital currency has managed to rack up massive gains in five months, keep reading.
First off, Ethereum is more than just a digital currency. It’s a powerful platform that allows programmers to develop groundbreaking applications. The unique structure of the Ethereum blockchain could help businesses:
Speed up efficiency
As an investor, you don’t need to understand how blockchain technology makes these things possible. You just need to know that it has the potential to change the way we conduct business and do finance.
That is why Ethereum has managed to garner massive corporate support. It is backed by a 150-member corporate alliance known as the Enterprise Ethereum Alliance. Members include major industry players like:
That is why Ethereum was such a hot topic at the Second Annual Blockchain Conference.
These companies, many of them Fortune 500s, are getting ready to launch the services they have developed using Ethereum
The One Big Company Talking About Ethereum
One of the most notable companies committed to Ethereum research is IBM. That name should certainly ring a bell.
A Silicon Valley juggernaut, IBM is one of the most powerful companies in the world. And it has devoted an entire sect of its development team to working with Ethereum.
At the Blockchain Conference, the blockchain product leader at IBM, Kathryn Harrison, spoke about how IBM is already using the Ethereum network to create new products.
The company wants to use Ethereum to protect its customers’ identities.
In March, IBM launched its first business-friendly blockchain service. Clients of that service include Wal-Mart, Northern Trust, and the Bank of Tokyo-Mitsubishi UFJ.
Outside of IBM, dozens of companies and federal entities announced plans for the Ethereum blockchain.
In a panel composed of federal government employees, representatives talked about efforts to use the Ethereum blockchain to improve trust between citizens and the federal government.
All of these speakers made one thing abundantly clear: No one is turning their backs on this technology.
They are all embracing Ethereum, which sets the digital currency up for some positive milestones down the road.
And now it’s time to talk about those Bitcoin Conference projections…
What Will Bitcoin Be Worth in 2020?
One of my favorite parts of digital currency conferences is the crazy Bitcoin projections.
It is the one point of the conference where everyone is on the edge of their seats.
At above $4,000 a bitcoin, the digital currency has created a legion of cryptocurrency millionaires.
But will it continue to do so?
According to experts at the Blockchain Conference, the answer is yes.
My personal favorite was the projection from Paul Tatro, the founder of the Blockchain Training Institute.
Tatro placed Bitcoin’s value above $20,000 by 2020.
That’s a big number. And we’ve heard bigger.
Billionaire venture capitalist Tim Draper thinks we could see $10,000 Bitcoin as early as 2018!
I hope you enjoyed my conference wrap-up. It’s important to know we are at a pivotal moment for digital currency and its underlying technology.
If you are an investor looking to learn about digital currency, make sure to check out our digital currency guide.
By Alexandra Perry
Written Sunday, August 20, 2017