• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
what is bitcoin
Nexo

Is Bitcoin the Best Way to Invest in Blockchain?

Austin Kennedy by Austin Kennedy
4 years ago
in Bitcoin Investment, Bitcoin, Bitcoin Acceptance, Bitcoin Technology, Blockchain, News, News teaser
0

Everyone has heard of Bitcoin, but is investing in the first and foremost cryptocurrency the best way to invest in blockchain technology?


Bitcoin, The Pioneer

Bitcoin gets a lot of attention. It was the first digital currency to solve the long-contemplated double-spend problem. It introduced the “blockchain” and it pioneered a new asset class that would one day take the world by storm.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Reading Satoshi Nakamoto’s original white paper, there is no doubt that the anonymous figure was a genius ahead of his time and that his invention holds the potential to rattle the economy as we know it. But he failed to do one thing with that world-changing technology — patent it.

Blockchain’s distributed ledger technology is now being used freely in thousands of startup projects across all industries from eSports betting to real estate to improve efficiency and transparency of operations. Mammoth companies such as Facebook and Walmart have also begun tinkering with their own blockchain systems, filing patents left and right.

While Bitcoin’s core technology is seeing a lot of experimentation, the cryptocurrency itself is often being circumvented by these new applications. Startups are opting to mimic Bitcoin by creating their own custom “utility tokens,” and many companies looking to adopt blockchain are developing supply chain systems that don’t involve any tokens at all.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Businesses Just Want Blockchain

Many businesses simply want to harness the conveniences of the blockchain, but they have yet to realize the merits of using cryptocurrencies themselves. In a Forbes interview with Chris Kirchner, CEO of Slync blockchain solutions, Kirchner says:

We’re seeing a lot of demand around asset tracking – really anything of value that exchanges multiple hands across the supply chain is a good use case for blockchain.

While the technology is no secret, it is still in its infancy and analysts are forecasting the market for blockchain-as-a-service to reach $14 billion over the next four years as the technology begins to permeate into our daily lives. As of now, the blockchain hype is mostly speculative as the tech has yet to be implemented into mainstream services.

Kirchner explains:

No one has fully deployed blockchain in their supply chain yet. That said, many companies are actively piloting the technology around different supply chain use cases and seeing success. Once other pilots begin proving the business case, expect to see broader and more rapid adoption.

With blockchain services showing such immense promise in real-world use cases, investing in them could be a smart way to hedge your bets against cryptocurrencies like Bitcoin, which are currently showing a slower adoption rate among businesses. Ideally, the adoption of one will kickstart the adoption of the other, but only time will tell who will be the frontrunner.

What do you think of the blockchain-as-a-service industry? Could it gain mainstream adoption before cryptocurrencies do? Let us know in the comments section below! 


Images courtesy of Shutterstock.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Austin Kennedy

Austin Kennedy

Related Posts

CoinCorner's the Bolt Card, promotional image

The UK Goes Lightning: CoinCorner Offers The Bolt Card, Contactless BTC Payments

5 hours ago
Argentina

Argentina NGO Spearheads Mission To Educate High Schoolers About Crypto

23 hours ago
Shiba Inu

Shiba Inu Extinction: Finder Panel Predicts SHIB To Have Zero Value By 2030

1 day ago
Russia

Russia To Legalize Cryptocurrency As Form Of Payment, Minister Says

1 day ago
Bitcoin

Bitcoin Open Interest Nosedives, But All Hope Is Not Lost

1 day ago
USDC Exchange Reserves Start Fall, Dry Powder For Bitcoin?

USDC Exchange Reserves Start Fall, Dry Powder For Bitcoin?

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.