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Coinbase CTO: Digital Money Is Entering The Technological Mainstream

Balaji Srinivasan is one of the venture capital shareholders to reveal that crypto money is experiencing technological progress.


 

It is also evident that most of the large corporations like Facebook and Amazon are currently embracing blockchain technology. This is an indication that it is becoming widely accepted by corporations across the globe.

Since the beginning of this year, the crypto industry has witnessed a significant decline in prices. The joint valuation of crypto declined by a margin of more than 70%. In the present situation, it has dropped from $800 billion to $210 billion in overall market value. However, the sector has experienced some positive changes such as streaming the market structure and improving technology involved in the industry.

Marketing Blockchain Technology

Blockchain enables its users to separate and store data in a sequence of blocks.  One of the results of this system of data storage is individuals with malicious intent are usually punished for engaging in illegal activities.

Lately, CNN revealed that Google heavyweights Sergei Brin and Sundar Pachai’s respective sons have mined ETH for a while. It is the local digital money of Ethereum blockchain protocol.

Pichai surprised several people when he disclosed that his 11 year boy comprehended the idea of Ethereum better than of fiat money.

Pichai further explained that he held a meeting with his son where he was discussing BTC. This is when his son who is a minor disclosed that he was deliberating about ethereum. The boy went and said that he had been mining ETH. This shows that the child understands better how the digital money works than paper money. It is the reason why the father took time to explain to his son how banking system and its importance to the public.

Fidelity Investments, the fourth biggest asset administrator on the planet with more than $7 trillion in resources under management,has already mined Bitcoin and Ethereum. The primary intention was to get an idea of mining and the requirements of digital forms of money. The entity has also provided custody services to assist institutional shareholders in committing their resources into this market.

Open-Source Revolution

Blockchain is a devolved peer-to-peer network. It is created and preserved by an open source group that projected code improvements on platforms like GitHub.

In October, Octoverse disclosed that ETH was among the fastest growing open-source ventures across the globe, they list Ethereum's accomplishments  alongside Spyder.

The growth of digital currencies continues to gain momentum across the globe. It has been recognized as one of the pillars of financial and technological revolution. This has led many individuals and organizations to adapt to its means of conducting transactions. The use of crypto is inevitable because of the advancements of technology across the world.

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