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Unstoppable technologies

Apr 17, 2019

There are always those who are “for” and those who are “against.” Therefore, the number of uncertainties don’t decrease.  Firstly, there are still a lot of critical people who do not fully understand the cryptocurrency, and especially blockchain. Secondly, this direction is very young and dynamically developing, which also contributes to the development of various points of view and approaches.

However, interest in investors remains high. Despite the anomalous cryptocurrency market, in the period from the end of 2017 to the beginning of 2019, BTC collapsed more than 80%. At the same time, the second cryptocurrency by capitalisation ETH lost more than 93%.

Blockchain is a priority for France

Another irrefutable fact of the popularisation and globalisation of blockchain technologies is the statement made by Bruno Le Maire, the Minister of Economics of Finance of France.

He gave an interview to Capital, the French magazine, on April 15, before the Paris Blockchain Week Summit on April 16-17.

He noted the willingness of the state to invest in breakthrough innovations, including the blockchain, 4.5 billion euros. Besides, he highlighted the progress of blockchain regulation proclaimed by the PACTE Act, which was adopted by the French National Assembly earlier this week.

Le Maire also noted the need to introduce the blockchain into the industrial sector, and the readiness to finance innovative blockchain projects, with the subsequent support of these projects with legal and regulatory issues.

Speaking at the summit of the Paris Blockchain Week Summit, the Minister of Finance announced that France would promote blockchain technologies, considering them as a means of countering the monopolies of financial giants.

Fragile Peace

The price of an asset depends on supply and demand. The higher the demand, the higher the price. Thus, the exclusion of an asset, in this case of Bitcoin SV cryptocurrency, leads to a significant decrease in demand.

On April 15, Binance cryptocurrency exchange announced the delisting of Bitcoin SV (BCHSV). Following Binance, ShapeShift, and several other cryptocurrency exchanges exclude or are preparing to delist BCHSV.  It puts extreme pressure on BCHSV, the capitalisation of which has decreased by more than 30% and now it is being held at the level of $1 billion.

This situation indicates that collusion and the subsequent exclusion of a coin from several major exchanges can “derail” almost any cryptocurrency, even with a capitalization of more than $1 billion.

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