On 12 June 2017, a blockchain-based company called Bancor raised approximately $153 million in ether (the coin of the cryptocurrency Ethereum) in just less than three hours by way of an initial coin offering (ICO).
While 2018 may still be in its infancy, the risks hanging over the year’s foreign-exchange (forex) markets have been brewing for some time. An assortment of global hotspots are positioned to affect major currencies and their viability on forex markets.
Blockchain, the decentralized ledger that supports today’s burgeoning cryptocurrencies, has become so useful that it can no longer be ignored by today’s financial institutions. From cutting costs to reducing risks, this indomitable digital technology has moved way beyond bitcoin to becoming an indispensable ally to the bank that wants to most securely and efficiently fulfill its role of tracking, storing and transferring value.
On November 21, Zimbabwe’s President Robert Mugabe resigned, ending his 37-year rule of the southern African nation. The resignation followed an intervention by the country’s military after Mugabe sacked his vice president, Emmerson Mnangagwa
The cryptocurrency craze has been in full flow during 2017. Bitcoin seems to be setting record highs with every passing week. Initial coin offerings (ICOs) are turning traditional capital-raising on its head.