In my opinion, the benefits of blockchain are being paraded as akin to that of cryptocurrencies and while to a large extent that is accurate, from the few conversations I have had over the past weeks, there needs to be an urgent understanding of each of them, and both. For instance, while all cryptocurrencies utilise blockchain technology but not all blockchain technology is cryptocurrency.
In elementary terms, cryptocurrency is a digital currency. Its transactions are all verified and secured using a decentralised system that operates by cryptography.
Cryptocurrencies are not backed by centralised systems and are not controlled by regulating authorities. These currencies are largely autonomous and public, which to some is the best feature, while to some, is the opposite because of the associated risks. As a result of the encryption (cryptographic) technologies they use, these (crypto) currencies act as both virtual accounting systems and also as currencies.
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...