Welcome to another exciting year ahead with the team at CryptoSoc UNSW! We are proud to release our first instalment of 2019, where we will shed light on the plans and events we wish to undergo this year. First, let us remind ourselves of the tumultuous activities of 2018, before diving into the busy year ahead!
Market Recap
Over the last 12–18 months, we have seen market sentiment quickly shift from an upbeat, positive outlook, to uncertainty plaguing our current financial markets. As a result, financial securities and assets have seen booming prices, swiftly plateau to never-before-seen levels. Of these plummeting sectors, arguably the hardest hit has been the industry, with , ‘The face of ’ shedding 65% of its value to the year February 2019.
Despite these unprecedented drops, the implementation of technology (The driver behind ) has seen widespread acknowledgement with major investment banks such as Goldman Sachs and JP Morgan realising its practicality for the near future. Particularly intriguing, is the ‘change of heart’ depicted by JP Morgan CEO, Jamie Dimon. After once calling a “scam” and how he had “no interest in it”, has gone on to create his own digital currency- JPM Coin. Backed by technology, this coin enhances the ‘speed at which smart contracts close’ allowing for more efficient transactions compared to ‘old technology like wire transfer’. [Forbes,2019]
Thus, 2019 shapes to be a defining year for the long-term viability of . However, the key will lie behind the of , to aid the credibility of these digital currencies and shift market sentiment. It is integral for public perception surrounding to alter from ‘Speculative Asset’ to widely respected ‘Medium of exchange’, in order to reduce this volatility and create potential for a future means of currency. We have seen evidence of this shift already through JP Morgan revaluating its position, hence we may ultimately see other firms follow suit, making the next 12 months increasing interesting in terms of the longevity of and technology.
Whats to come?
2019 will once again see CryptoSoc UNSW provide the latest on all things , with weekly reports on top stories including market recaps on high profile currencies such as and . Additionally, we will touch on emerging currencies making a name in the world of Crypto by redressing the deficiencies shown in older, more highly publicised currencies. Focus in 2019 will also shift, delving further into the realms of and the vast potential surrounding this revolutionary technology.
Furthermore, we will also be running our usual social events, tech workshops and a return of an exciting competition!
More will be posted in time…
But for now, on behalf of CryptoSoc UNSW we look forward to your support and interest for our jam packed 2019!
DISCLAIMER:
This article provides information of a general nature. You are not authorised to rely on this article or any other article published by CryptoSoc UNSW for legal advice, business advice, or advice of any other kind. The authors at the time of writing hold various including those discussed herein. In no way are the authors, CryptoSoc UNSW or any of its affiliates responsible for any actions or investment decisions made by you in reliance upon this article, or any other article published by the authors or CryptoSoc UNSW.
Published at Sun, 24 Feb 2019 08:49:14 +0000
