Bitcoin: bites the dust by 2018?

Back in April, BitTorrent inventor Bram Cohen (below left) had earned a place in Internet hall of fame. Recently he was reported to be taking  a strong interest in cryptocurrencies, something he will devote himself full-time to in the near future. This includes launching a new cryptocurrency which addresses some of the challenges facing Bitcoin.

The latest monetary treasure has been developed by a 23 year old genius who uses bitcoin’s core technology and created a vastly superior platform for the cryptocurrency  with the advanced technology used to  aim at the corporate world.

According to  Sam Volkering (right) who has covered investment markets for over a decade and was an early raver about bitcoin,  is now singing a different song, as his analysis signals a new nascent cryptocurrency market. He has identified a rival  that could climb even higher than bitcoin that has emerged this year and notes that Cryptocurrency expert, Fred Ehrsam believes this emerging crypto ‘will blow past Bitcoin entirely’. Polychain Capital CEO, Olaf Carlson-Wee is on record the new crypto could ‘surpass that of Bitcoin by the end of 2018’.

Wall Street's main clearinghouse, the Depository Trust & Clearing Corporation (DTCC), will trade around $11 trillion using this new technology next year and prediction is that  $544 trillion in derivatives could be traded using this new platform. 

Vokering notes that this is a fast-moving situation as the corporates world begin  to embrace the new crypto. platform. The big names in finance and tech are now testing this  in the real world. That names reported include Microsoft, IBM, Intel, JP Morgan and Banco Santander.  But the most interesting player is the Chinese Royal Mint announcement that it will adopt  this new technology to digitise their RMB currency.