In this article, we shall analyse the drivers behind the rise in cryptocurrencies’ value and market capitalization and start envisioning future evolutions, focusing notably on Bitcoin and blockchain technology. Précédemment, we explained what is a cryptocurrency and highlighted the possible revolutionary impact of blockchain, the technology underlying the majority of cryptocurrencies. We, meanwhile described the main features of the three most capitalized cryptocurrencies: Bitcoin, Ethereum et Ondulation.
Here, after having addressed the drivers behind Bitcoin’s rise, we shall highlight the challenges that Bitcoin and other cryptocurrencies will have to face in the upcoming months. Moreover, we shall also try to understand if the traditional currencies’ stance on global markets could be hampered by a dramatic surge in the daily basis use of independent (i.e. not controlled by a central bank) cryptocurrencies like Bitcoin. In conclusion, we shall assess the perspective of the blockchain technology to be used in sectors other than cryptocurrencies.
These examples of blockchain’s wide applicability may therefore mean that Bitcoin may be nothing more than “a distraction from the true significance of the blockchain” technology (Steven Johnson, ibid.).
A propos de l'auteur: Leonardo Frisani (MA Paris) focuses currently on challenges to the US Dollar supremacy. Beyond that, his specialization is in international security, and his main interests are in geopolitics, macroeconomics, climate change, international energy and history.
L'image sélectionnée: The DigitalArtist, CC0 Creative Commonsvia Pixabay
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