When ZCASH came out, the big question was, who and what type of institution would want to use its' privacy feature?
Today we found our answer. ZCASH has now partnered with a well known Financial Institution. That partner was announced today, JPMorgan Chase. ZCASH blasted to $300 . Ethereum up nearly 100%. A great step forward for these cryptocurrencies.
Ethereum developed a protocol, where it has allowed its blockchain to integrate with other tokens' features through its smart contract. THIS IS HUGE FOR BOTH TOKENS! ESPECIALLY ETHEREUM.
Blockchain as you may well know, is a great technology, a ledger that tracks information and assets, which can be seen and sent both publicly and now privately.
My worries now, is JPMorgan Chase. As we may all agree, banks hold and control the resource we depend on. That resource is money. Let's not also forget, they were fined for fixing / manipulating the price of Silver in the Comex Markets. Don't get me wrong, this is great news to have the worlds most solvent and prominent bank, JPMorgan Chase, to take the first step in legitimizing the cryptocurrency space by partnering up with ETHEREUM and ZCASH. It was a very bold decision but my worry is with every decision lies an AGENDA.
JPMorgan's Agenda is what I question. Now with the ZCASH protocol being implemented into Ethereum. Im worried JPMorgan may use ZCASH's privacy feature to further hide from future unlawful business practices. Selling of Assets, CDO's (credit default obligations), CDS (credit default swaps), MBS (Mortgage Backed Securities), and so on without the ability for it to be traced back to them. My fear is that this may lead to further Manipulated Markets and not being able to know who the culprit is.
Now.......on the more positive side.
Ethereum - This should not being looked at as a cryptocurrency or a crypto asset. Ethereum has now officially become a Crypto-Commodity. Many companies are lining up to utilize and implement their technology into their industries. Within the next 1-2 years you will see Pharma, Shipping, and Energy companies taking the next leap into signing up with Ethereum Alliance. This is HUGE! This division may I dare say? Make Ethereum overtake Bitcoin as the Leader in Market Cap. I will say Ethereum should be near $300-400 by years end. As far as overtaking Bitcoins marketcap, I say sooner rather than later.
ZCASH - Great tech, Zero Knowledge Protocol. Strong Development. I do anticipate a price a correction from todays new high. However I would like to think ZCASH's value in the short term is somewhere in the neighborhood of $150-$160 range. Longterm $300.
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