Kraken Contest Results are in: Invest in Bitcoins, But Don’t Disregard Ethereum

calculator-calculation-insurance-finance-53621There are more than 100 cryptocurrencies out there, each one with their own use case, market capitalization, and user base. Virtually anyone with the right skill-set can create their own currency. The open nature of crypto and its FOSS philosophy makes it easy for people to adopt it or invest in it. The hard part of launching a cryptocurrency is gathering adoption from the public. The cryptocurrency space has always been a hostile place. We are living on the bleeding edge of financial technology and Kraken, one of the leading digital asset exchanges in the world, acknowledges that. Kraken started

calculator-calculation-insurance-finance-53621

There are more than 100 cryptocurrencies out there, each one with their own use case, market capitalization, and user base. Virtually anyone with the right skill-set can create their own currency. The open nature of crypto and its FOSS philosophy makes it easy for people to adopt it or invest in it.

The hard part of launching a cryptocurrency is gathering adoption from the public. The cryptocurrency space has always been a hostile place. We are living on the bleeding edge of financial technology and Kraken, one of the leading digital asset exchanges in the world, acknowledges that.

Kraken started an experiment, an international contest directed at several university business schools. The objective was to build the best cryptocurrency portfolio (Bitcoin, Ethereum, or both) with an initial investment of 1 million dollars. The Kraken Case Study Competition was open during a full week. Participants from 13 business schools located in USA, Canada, Brazil, and Portugal submitted their entries.

After a careful analysis, Kraken announced the winners–the Freeman School of Business from Tulane University took the first place; Ted Rogers School of Management from Ryerson University secured the second place; Marriot School of Management from Brigham Young completed the podium in third place.

The prizes were $10 thousand, $5 thousand, $3 thousand for the first, second, and third place, respectively. The competition showed that the business students preferred bitcoin as the main portfolio asset.

The three winners explained that, although the sanest decision was to invest the majority of funds in Bitcoin, it would be foolish to disregard Ethereum’s main token, Ether. The Tulane students (first place winners) allocated 67% of the funds to Bitcoin and a 33% to Ether. The students made price analysis on weekly charts to reach their conclusions.

On the other hand, Ryerson students decided to survey the opinion of several FinTech and financial experts about the impact of both Bitcoin and Ethereum in e-commerce and other financial sectors. According to the survey, the majority of experts favored Bitcoin, thus the students from Ryerson decided to allocate 69% of the portfolio to Bitcoin, and the remaining 31% to Ether.  Lastly, Brigham Young business School analyzed the supply and demand offers, security, liquidity, and volatility to make a conclusion–78% will go to Bitcoin and 22% to Ethereum.

Both platforms offer many opportunities, with a high growth potential. Tulane students remarked that Bitcoin and Ethereum are technologies destined to coexist, and that they don’t predate each other.

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Top 5 Reasons Enterprises Should Embrace Blockchain Technology

TheMerkle_Enterprise BlockchainVirtually every business around the world can benefit from adopting blockchain technology. Right now, the majority of focus is on the financial sector, where blockchain can be used to speed up transfers and reduce the associated costs. But there are so many other reasons to embrace this technology in the coming years. #5 Improving Data Quality Regardless of which industry a business is active in, collecting and processing data is of the utmost importance–or to be more precise, ensuring that the data is genuine, and using it to identify problems, needs, or improvements is necessary. Unfortunately, traditional solutions are not necessarily

TheMerkle_Enterprise Blockchain

Virtually every business around the world can benefit from adopting blockchain technology. Right now, the majority of focus is on the financial sector, where blockchain can be used to speed up transfers and reduce the associated costs. But there are so many other reasons to embrace this technology in the coming years.

#5 Improving Data Quality

Regardless of which industry a business is active in, collecting and processing data is of the utmost importance–or to be more precise, ensuring that the data is genuine, and using it to identify problems, needs, or improvements is necessary. Unfortunately, traditional solutions are not necessarily suited for this type of process, and blockchain can make a big impact in this regard.

Unlike other types of data, anything stored on the blockchain is complete, consistent, and most importantly, entirely accurate. The blockchain also ensures that the recorded data cannot be tampered with afterward, which is a trait that should not be overlooked.

#4 Faster Transactions

One of the most obvious use cases for blockchain technology is to improve transaction speeds. The financial sector is bogged down by delays in clearance and settlement, and blockchain can alleviate these concerns. For now, most of these projects are still in the proof of concept stage, but the change to distributed ledgers is inevitable.

#3 Creating A Trustless Environment

Albeit not necessarily a top priority for most companies, blockchain technology allows for a trustless ecosystem. Most aspects of daily life hinge on trust in one way or another, which is quickly becoming a precious commodity. A blockchain allows multiple parties to no longer rely on intermediation to reduce counterparty risk, an absolute must for the future of business as a whole, and one area that warrants further exploration.

#2 Transparency

As if there are not enough reasons to use blockchain technology already, reaching a new level of transparency is one of the top benefits. Public blockchain technology allows for a completely transparent ecosystem, which can be viewed by all parties at any given time. This is another reason to get rid of third parties, which is always a positive development.

#1 Empowering Users And Clients

The top reason to get involved in blockchain technology is one that can scare a lot of enterprises. The blockchain puts the user in control of their information and transactions, which is not necessarily in the best interest of the companies involved. At the same time, those enterprises who do not give users the power they deserve may find themselves at the wrong end of the stick rather quickly.

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