Thursday, March 7, 2019

Keep an eye on enterprise 👀

March 7, 2019

Enterprise Blockchain Spending is Forecasted to Blow Last Year's Numbers Away

In 2018, companies around the world joined the blockchain craze and globally invested $1.5 billion into the new technology.

This year, however, researchers from the International Data Corporation (IDC) are betting that blockchain spending grows more than 88.7% to around $2.9 billion.

That growth is just the start though. Until 2022, the IDC sees the industry growing at a compound annual growth rate of 76% per year, leading to $12.4 billion in blockchain spending by the end.

The top industries

For a better view, IDC broke down the spending by industry. Here are the top three:

Finance
Manufacturing and resources
Retail and professional services

The top countries

Following the sector breakdown, IDC divided regions by their contribution. Here are the top three:

United States
Western Europe
China

Notably, Japan and Canada are expected to lead growth among countries for the next 4 years.

Still young

If anything, the report shows how young enterprise blockchain is right now, despite coming so far already.

IDC Researcher Stacey Soohoo commented on the matter:

"With a number of breakthroughs in 2018, ranging from mainstream acceptance by large enterprises to regulators recognizing their governance role in the blockchain world, blockchain has come a long way since 2017, the year of blockchain experimentation and awareness. 2019 will be a year of mainstream adoption, but will rely heavily on reshaping the ideology of a blockchain revolution."

BITCOIN

Jack Dorsey is Allegedly Buying $10,000 of Bitcoin Each Week

Twitter's CEO Jack Dorsey is no stranger to the Bitcoin community.

The notorious Bitcoin bull has gone on record repeatedly saying that it will "probably" become the "internet's native currency."

Now, he might be spending $10,000 per week to buy the world's largest cryptocurrency.

Hitting limits

In a podcast called Tales from the Crypt, Dorsey explained that he wanted to take part in "Stacking Sat Saturday" - a trend that encourages weekly Bitcoin purchases - but he couldn't participate because he hit his CashApp limit.

If true, that would mean Dorsey is maxing out at about $10,000 per week in Bitcoin buys.

Though Dorsey stays away from price predictions, his support for Bitcoin is clear.

TRADING

BNB is Straying Away from Bitcoin's Price Trend

Once in awhile a cryptocurrency will massively outperform or underperform Bitcoin for a short time period. However, Binance's BNB token is now showing signs of trend deviation from Bitcoin - an unusual feat for the young market.

First reported by CoinDesk, BNB is the only asset in the top 10 cryptocurrencies to post a yearly gain against the U.S. dollar. The next closest is TRON with a -44% loss.

Further, in the last 30 days BNB is up more than 99% while Bitcoin posted a mere 12.65% gain.

That positive trend has made it the only cryptocurrency in the group to stray from Bitcoin's overarching influence.

BITS

But wait, there's more...

🇺🇸 The social trading platform eToro adds crypto trading to 31 U.S. states.
🧐 The City of Denver will pilot blockchain voting in its next coming election.
🤔 Ripple's CEO Brad Garlinghouse says other banks won't use J.P. Morgan's JPM Coin.

MEME