We at PK Mwangi Global Consulting believe that we are today experiencing a pivotal moment in the history of mankind. The gradual entry of blockchain technology into our ordinary lives as well as into the fields of finance and industry heralds fundamental change in the way we live and conduct business. Like the internet before it, this new technology will become pervasive in the way we live, learn, work, invest, provide healthcare, entertain ourselves, govern and are governed and communicate with each other.
Specifically, the world of finance has been changed forever as cryptocurrencies like Bitcoin (BTC) become more mainstream and continue to deliver rates of investor return previously deemed unachievable. Drawing comparisons to physical gold, bitcoin is slowly taking its place as the asset to go to as a store of value. The closely-associated Litecoin (LTC), continues to gain impetus as a medium of exchange due primarily to its superior speed in processing transactions.
Other cryptocurrencies like Ethereum (ETH) and Ripple (XRP) seek to alter the way we conduct our lives and business by providing digital platforms on which real-life solutions can be developed. ‘Smart contracts’ as envisaged by Ethereum developers aim to provide society and business with traceable, transparent and irreversible self-executing contracts with the terms of the agreement between buyer and seller (or countersignatories) being directly written into lines of code distributed across a decentralized blockchain network. Other cryptocurrencies like IOTA (MIOTA) seek to leverage on developments in artificial intelligence (AI) in what is referred to as the ‘Internet of Things’ allowing devices, computers and machines to interact with one another without the intervention of humans.
By concentrating on the top cryptocurrencies by market capitalisation, PK Mwangi Global Consulting delivers clear insight and analysis into the workings and performance (including a balanced score card) of these cryptocurrencies and the investment opportunities they represent.
At its simplest, Ethereum (ETH) is an open software platform based on blockchain technology that enables developers to build and deploy a myriad of decentralized applications. Ethereum also enables the construction of 'smart contracts'-
computer codes that can facilitate the exchange of money, content, property, shares or anything of value and that automatically execute without any possibility of censorship, default, downtime, fraud or third party interference.
IOTA's (MIOTA's) true value comes from connecting users and companies by creating a data marketplace where users can sell and companies can purchase data. To quote them: “IOTA (which uses Tangle and NOT blockchain technology) makes it possible to securely store, sell and access data streams”. In a world where the new oil is data and new oil wells are IoT sensors that continuously collect data, IOTA’s business case is clear. The implications for all aspects of our lives (industry, technology, medicine, science, etc) through an interplay of IoT, AI and robotics are tremendous.
Based on blockchain technology, Ripple (XRP) is a real-time gross settlement system, currency exchange and remmitance network built upon a distributed open-source internet protocol and consensus ledger that enables secure and instantly and nearly free global financial transactions of any size to take place with no chargebacks. Used by companies such as UBS and Santander, Ripple is increasingly being adopted by banks and payment networks as settlement infrastructure technology,
The most prominent of cryptocurrencies to date, Bitcoin (BTC) is a peer-to-peer decentralised digital currency and worldwide payment system where transactions take place between users directly without an intermediary. Transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Initially intended as a medium of exchange, Bitcoin’s best use case may lie as a store of value (due to its deflationary nature) which has earned it the title ‘digital gold’
Litecoin (LTC) is a per-to-peer cryptocurrency and open-source software project that allows instant, decentralised, secure, irretractable and near-zero cost transactions between parties anywhere in the world while eliminating all intermediaries. The coin was inspired by, and in technical details is nearly identical to. Bitcoin (BTC).
Derived from a dispute (hard fork) with Ethereum core (ETH), Ethereum Classic (ETC) is a next generation blockchain 'smart contract' platform to power the ‘Internet of Things’ (IoT). IoT is a global, automated, secure, decentralised and interoperable physical-digital world in which everyday items (devices and machines) can be connected to the internet to share information and value with people and other devices and machines. The implications for all aspects of our lives (industry, technology, medicine, science, etc) through an interplay of IoT, AI and robotics are tremendous.