While cryptocurrencies have pulled back in value, the underlying blockchain technology is growing increasingly popular. The more companies that adopt it, the greater the potential profit for investors like you
I talk to a lot of investors. Most of them know about bitcoin and other cryptocurrencies, but there is widespread misunderstanding about the underlying technology — blockchain — behind them.
That misunderstanding combined with the clobbering that cryptocurrencies endured in 2018 has caused most investors to ignore the tsunami of business that that blockchain service providers are enjoying.
Big mistake!
Cryptocurrencies are just one application of blockchain technology, which is being used for a huge range of industries.
Blockchain 101
Blockchain is also known as Distributed Ledger Technology. DLT is open-source software that is a digital system of recording transactions that are replicated across thousands of computers around the world.
Instead of being stored in a central server as is the case with traditional databases, blockchain distributes that data to thousands of different locations using peer-to-peer protocol in near real-time.
Each computer individually processes and verifies every transaction redundantly, bundles those verified transactions into a “block”, and broadcasts them to all other computers in the network, which means once a “deal” is made, neither party can go back and rewrite the terms. Blockchain makes it possible to trust people that you don’t know.
Plus, this consensus mechanism prevents cybercriminals from stealing your data as well as your cryptocurrency coins.
In simple terms, blockchain is a digital system of securely recording transactions. That is its simple, but invaluable, essence.
And the blockchain business is about to take off like a rocket.
Deloitte, one of the Big Four accounting companies, surveyed more than 1,000 blockchainsavvy executives around the world and found that blockchain usage is about to skyrocket. Deloitte’s 2018 Global Blockchain Survey Report found that:
- 95% of those surveyed are investing in blockchain initiatives. 95%!
- 26% are investing between $1 to $5 million on blockchain projects this year and 23% are investing $5 to $10 million.
- 84% said that blockchain will eventually achieve mainstream adoption.
- 68% expect to lose a competitive advantage if they don’t adopt blockchain technology.
- 69% believe that blockchain technology will end up replacing traditional systems of record-keeping.
- 84% think that blockchain technology offers superior security than current cybersecurity offerings.
What do all those high percentages mean in the real world? According to Deloitte, “The only real mistake we believe organizations can make regarding blockchain right now is to do nothing,” considering that adoption is “getting closer to its breakout moment every day.”
Deloitte is speaking from the business standpoint. From the investment standpoint, I believe the only real mistake you can make is to not include blockchain stocks in your investment portfolio.
There are hundreds of publicly-traded companies throwing massive amounts of manpower and mountains of dollars to get to the front of the line of the blockchain financial printing press.
Investing in the right blockchain pioneers could make you very rich. And NOW is the time to invest in them.
Like who? Well, that is exactly what Juan Villaverde and I cover each month in our Weiss Crypto Investor service. To learn who are my top blockchain recommendations, consider a no-risk trial. I am confident that you’ll be delighted with the results.
Best wishes,
Tony