A few years ago, bitcoin seemed a fringe concept. Now, Visa reports “significant interest” from crypto companies – and the feeling is mutual. PayPal this week announced customers will be able to use digital assets to shop at any merchant in its large network starting from early 2021. The payments will be settled through fiat currencies, similar to merchant solutions like BitPay. This means merchants will be receiving fiat, as PayPal will take care of the conversion.
Just this morning hedge fund legend Paul Tudor Jones told CNBC bitcoin provided a hedge to the dollar. “If you own cash in the world today, and you think about it from a purchasing power standpoint, you know your central bank has an avowed goal of depreciating its value 2% per year. So you have, in essence, a wasting asset in your hands.” Lo and behold, the world’s leading digital asset tripped yearly highs recently, briefly eclipsing $13k.
This is a reminder that not-so-subtle changes are happening to money, and these are the early innings. At Inveniam, we see a world where the value of trillions of dollars in private assets are unleashed & unlocked through the better use of data. To get there, you need verifiable data you can trust. Blockchain technology gives us that tool. And we’ve built a solution for it.