The price of one bitcoin is sitting just shy of $10,000 and with this incredible rise has come a dramatic increase in both participation and adoption in the sector. As enthusiasm for the cryptocurrency expands, so does demand for its availability and liquidity and this has led to a very large infrastructure being built to underpin and satiate this demand.
One of the countries in which Bitcoin has become increasingly popular is India and, alongside this increase, we have seen a growth in infrastructure in line with the above statement.
This week, we got some fresh news out of the Asian nation, with reports hitting press that detail the opening of a brand-new exchange by one of the countries already well-established financial institutions.
According to Murray Stahl, Bitcoin is the “ultimate value investment”
This year has seen Bitcoin reach unprecedented heights, with a growth of over 900%. In January, it was trading at just $1k. Last week however saw the world’s most popular virtual currency exceeding the $10k mark. In fact, at the time of writing this article, Bitcoin was trading at just under $11,700.
This phenomenal growth is definitely something that crypto enthusiasts are celebrating, and something that some investors are taking as another sign that Bitcoin is not for them. The volatility and unpredictability characterized by Bitcoin has resulted in investors calling it a speculative asset with no intrinsic value.
African farmers may soon reap the rewards of Blockchain Technology
Africa’s economy is largely dependent on its agricultural offerings. However, many farmers are not able to benefit from the advancements in their industry due to a lack of financing.
This cash deficiency, which results in a distinct lack of technology, has drastically slowed down the development of these farms. Most farmers still rely on only rainfall to sustain their crops as they cannot afford to take proactive measures, such as installing irrigation systems.
The majority of these farmers live in rural areas and therefore many do not have access to the traditional bank systems that could assist them. In addition, even though the importance of agriculture is clear to see, government assistance is not.
