The annual DC Blockchain Summit took place in the country’s capital this May and was an opportunity for crypto and blockchain enthusiasts to come together, discuss ideas, and network to promote the ecosystem.
Traditionally the audience and guests at summits such as this would range from your tech experts to your major exchange representatives, and of course retail investors. However, now it is very, very different and great news for crypto believers.
Now at Crypto conferences, there are congressmen and women, Senators, legal experts, and your traditional finance industry leaders eager to learn more about crypto and network themselves to help incorporate blockchain technology into their sector. This is great news for crypto as regulators and government officials have at times been hesitant to engage with crypto, as many lacked an understanding of the technology and its utility.
Moreover, incorporating blockchain technology into the wider finance sector is essential for furthering the ecosystem. These developments have already begun, with JP Morgan pioneering the way through their Onyx division, which is their blockchain innovation arc of the bank.
JP should be credited for their involvement and development as this division was set up over 5 years ago, purely for research purposes. This was until the recent addition of their native JP Morgan coin and the successful testing done with the Central Bank of Bahrain for payments rails across borders.
From this success, many other leading institutions are following suit, with Citi and their flagship division ‘Spring by Citi’, BNY Mellon offering crypto as part of its normal private banking offerings. Even BBVA has recently started investing heavily in their innovation division.
With the mainstream financial sector now looking to blockchain for solutions and enhancements, political figures seem to be openly supporting crypto and blockchain technology at summits such as the DC Blockchain Summit. There has never been a better time to invest in crypto, particularly with the dip buy signals at present.
What are the best investment opportunities?
With adoption set to exponentially rise, this begs the question, what are the best investment opportunities? With Crypto consistently outperforming the stock market over the last two years, and the occurrence of the recent downturn, crypto certainly looks a more attractive option than the stock market.
If you are new to crypto, I would suggest starting with Bitcoin (BTC) and Ethereum (ETH). These are the two leading the way with adoption and market cap. Bitcoin is seen by many as the new gold and will be the modern solution to instant payments which span borders. This coupled with advances like the lightning network, a layer-2 protocol that enhances speed, cost, and operability, makes Bitcoin a great beginner coin. This is even more important within companies that have micropayments such as Bakkt, NYDIG, and Paxos. They all seem to be looking to implement these protocols to service their product suites.
However, the world of crypto goes beyond mere payments, with blockchain pushing the transition into the Metaverse and more holistically Web 3.0, where your NFT and dApp development platforms will continue to see increased demand. As such, Ethereum and other development platforms will be a strong investment.
If you are still learning about crypto, one of the best ways to start is with Bitcoin and Ethereum.
Alternative Crypto investments will act as a good hedge
With inflation expected to remain high, many are looking to the crypto market as a good hedge against the stock market. While the crypto market is already showing signs of life, with 10% gains across the board as of writing, investors should not forget about early-stage protocols to include in their portfolio, where high yield gains can be seen.
One coin, currently in its Presale that could be an excellent hedge against inflation is Parody Coin (PARO). As its name suggests, Parody has the potential to increase competition in the NFT market by offering users the ability to create Parody’s of their favourite NFT’s. As such, NFT’s that have genuine utility can be recreated and distributed cheaply across different blockchains. This has great potential within certain industries such as gaming, where in-game NFT’s are on the precipice of revolutionising how we consume content.
Furthermore, Parody offers a solution for users who own unique NFT’s, such as artwork or video clips who are interested in trading but are hesitant because of the high gas fees on the Ethereum marketplace. By creating a Parody you can transform that parody into an original by burning the original and then can trade on Parody’s cross-asset, cross-chain NFT marketplace benefiting from low gas fees.
There is no question that Parody Coin has a very high ceiling and other investors also think so, with their Presale being one of the most successful to date. If you are interested in learning more or perhaps investing, check out their website below.
Parody Coin (PARO)