Blockchain And Bitcoin Look More Like Result Seeking For Trouble

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The world of blockchain and bitcoin are feeling the investment collapse. The venture money flows into the startups that work on the cryptocurrencies or other technical issues underpinning them. This is known as the blockchain technology is getting difficult to come by as per the reports from the trade publication CoinDesk.

According to the Zavain Dar, a venture capitalist at the Lux Capital it looks like we are in the slower phase with the blockchain and bitcoin right out where the customers are looking to build the infrastructure.

There is an amount of $376 million raised by the startups working on the blockchain tech in 2016 till now that is around 17% lesser when it compared to the amount raised in the same period in 2015 as per the latest quarterly research report of CoinDesk. Also, every quarter of 2015 saws decline in funding in contrast to three-quarters of the successive growth of last year.

Till now, a revolution is not produced by the blockchains in the service of banks. The majority of the companies looks to be either paying lip service to talk about innovation or reluctant for committing more than a silver of resources to experiment with the technology. The Former Blockchain lead at Barclays in London and co-founder of Fintech Consultancy Simon Taylor says that there are much same old proud of the concept and some of them if the production ready software systems.

The boom in the blockchains for banks look to have mainly benefited consultants who want to provide their services in guiding the brick and mortar bankers via a world of complex cryptography and problems of vexing computer-science.

The departure of the Santander and Goldman from the R3 consortium is another sign of trouble for the banking audience. All of them were the participants of the group of 70 financial institutions. They are among the most bullish on the notion that use the blockchain for their own benefit.

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All posts published by the Bitcoin Advice Editorial Team combined. Primary objective is to provide quality content to our readers.

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