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Blockchain technology remained in the headlines in 2018. Here we run through our five top blockchain stories for the year.
For many blockchain buffs, 2018 turned out to be highly disappointing.
Dubbed the Internet 2.0, blockchain technology is a leading software platform for digital assets and is the tool used to track cryptocurrency transactions. It consistently made headlines throughout the year, but its popularity waned substantially and money poured out of the sector.
Nevertheless, as investors look forward to 2019 it’s worth considering what trends moved the market in 2018. Below we’ve laid out our top blockchain stories of the year — read on for the headlines.
1. Is Bitcoin Really Impacted by Chinese New Year?
First on our list of top blockchain stories is a piece on how Chinese New Year affects the price of bitcoin. Like many other cryptocurrencies, bitcoin is known for its volatility, and many were wondering about its price drop early in the year. This article features an explanation from Trive Capital CEO David Mondrus.
Click here to learn about the connection Mondrus sees between bitcoin and Chinese New Year, and see if you think we’ll see it again in 2019. If so, it could be a buying opportunity?
2. Bloomberg Officially Launches Cryptocurrency Index
Our next most popular blockchain story covers Bloomberg’s cryptocurrency index launch. In a joint venture with Galaxy Digital Capital Management, Bloomberg formed the aptly named Bloomberg Galaxy Crypto Index in May 2018.
Click here to see which 10 cryptocurrencies Bloomberg and Galaxy selected for the index, and why the companies decided to enter the space.
3. US Congress Holds Hearing on Potential for Blockchain Technology in Government
Middle of the pack is a story on a US Congress meeting held to discuss the possible applications of blockchain technology in government. One of the potential benefits listed was blockchain’s ability to strengthen the cybersecurity efforts of the both government and private companies. Will Congress jump on the blockchain bandwagon? Read on to find out more.
4. Kodak Shares Spike Following KODAKCoin Cryptocurrency Announcement
The next story on our list covers Kodak’s (NYSE:KODK) launch of its own cryptocurrency in January 2018. The company, once a dominant player in the photography industry, teamed up with WENN Digital to make KODAKCoin, which — you guessed it — is aimed at the photography demographic.
So what happened to Kodak’s share price? Unsurprisingly, the company enjoyed a huge boost, jumping nearly 250 percent on the news. Find out more about what KODAKCoin is all about by clicking here.
5. TD Bank Files Patent Application to Use Blockchain to Track Digital Assets
Closing out our five top blockchain stories of the year is an article on yet another large company entering the blockchain space after seeing its promise. This time it was Toronto Dominion Bank (NYSE:TD,TSX:TD), which in April filed an application for a patent for its blockchain financial tracking system.
How does it work, and when does TD plan to implement it? Read on to find out.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Amanda Kay, hold no direct investment interest in any company mentioned in this article.
