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Paul Brody of Ernst And Young has been practicing the blockchain for five years. Its well-known name is a part with IBM behind the development of the initial blockchain. In addition to this, he says that we have not started at the beginning.
Currently, Brody is responsible for increasing the initiatives and investments in Ernst And Young (EY) in relation to blockchain technology compared to audit, advisory and tax lines.
Recently, Paul Brody explains how the drastic prices of cryptography are not responsible for hindering the growth of blockchain technology. He begins by condemning the fact that the drama of floating prices within the market together with media control conceal enormous progress, particularly this technology.
Other sectors in the market
ICOs are not doing so well, as nearly two-thirds of 2017 have lost value, increasing only 5% of ICOs in 2018 over one million dollars. However, this gave a boost to a new phenomenon within the cryptographic space centralization projects. Mainly, the reason is that huge centralization projects resist the exhaustion of the support bear market.
In particular, if we keep track of any progress related to ICOs, over 95% of the responsibilities came from its dominant platforms. Furthermore, the KYC process is now more prominent as projects require strict regulations.
On the other hand, the trading platforms have also gone through the same story. The top 10 platform has daily transactions that increase the average by 73%. Although these exchanges rigid their securities that result in the majority of traders left to centralizing platforms.
The other noteworthy aspects are stablecoins. However, they have been less naive by the bear markets and by its volatility which turns out to be a variable investment.
A bit of public blockchain also seems promising, however, the real efforts came from private blocks that showed real market value. Even big companies like Goldman Sachs, Microsoft, IBM, etc. They increase their game in this area.
More information on Cryptocurrency and Blockchain!
Summary
Item name
Crypto Bear Market does not influence the progress of Blockchain – EY Paul Brody
Description
According to EY & # 39; Paul Brody, the recent crypto-bear market has not caused any decline in the progress of the blockchain. Both play their part in their respective fields, even though they are connected.
Author
Qadir AK
Publisher name
Coinpedia
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