It’s no hidden that legal & famous media isn’t the greatest fan of crypto-currency, often publishing shocking & exciting news that need page visions more than before. That being mentioned, the Wall Street Journal (WSJ) is now a part of the cryptocurrency market after creating their own crypto – called the WSJCoin.
The U.S.-based report exited embarked on the journey to make their own crypto-currency, as they place it in order to make better, “understand what drives the wild cryptocurrency market—the technology, hype, and innovation, combined with the hacking, market manipulation and increased regulation…”
The WSJ’s journey initially started in Japan, essential activities for crypto-currency and blockchain new ideas, where the team of journalists searched out a blockchain startup and gave job to one of their programmers to prescribe some code considering the framework of a crypto-currency, and just like that, the WSJCoin was born.
Owing to look like an easy way, the problem is not in establishing a crypto-currency, but rather in developing one that is practical and advertised well enough to attract the glimpse of investors and exchanges. Without having an interest of these two groups, the crypto-currency is nothing more than useless code.
In order to include practically to the initial laid WSJCoin, the team went through the halls of the Japanese crypto community, seeking for businesses or services that would embrace their virtual currency as a form of payment (although it is not transparent as to why anyone would embrace an illiquid crypto-currency as a form of payment).
Despite the fact that no sane person would accept their cryptocurrency as a form of payment due to its lack of value and liquidity, the team of journalists attribute the lack of interest in their coin to declining interest in the industry, saying “the mania has fizzled”.
Lacking in Cryptocurrency Involvement is Depends on Actual Vision:
Certainly, there is no refused comments about existing a general hatred for crypto-currencies amongst neophyte businessmen who does not now have enough amount over the past year due to the bull-run, bear-crash, market cycle. Despite evidence; suggests that institutional, retail, and corporate interest in cryptocurrency and blockchain is at, or nearing, an all-time high.
A parallel of institutional interest can be the starting to make successful the cryptocurrency future market, namely the Cboe Bitcoin Futures market, and the soon-to-be Cboe Ethereum futures market, that is being started by a partnership with Cboe and TD Ameritrade.
The new openings and trade volume of futures markets also goes up of a Bitcoin ETF, which could alter the curved path of Bitcoin completely by permitting for numerous arrival retail and institutional funds.
The Wall Street Journal importantly comments that due to the decreased interest in crypto, people in Japan seem still passionately testing and following the technology, adding a J-pop band called the “Virtual Currency Girls,” and a university professor who is building a digital currency that can be widely used on and around the campus.
Ivan Zasarsky, a Hong Kong-based partner at Deloitte’s financial crimes unit (FCU), optimistically told the WSJ tell that crypto appears still in its infancy.
“There is still potential for significant disruption. This is only the first centimeter in a kilometer race”.
Mark Peter is a full-time member of the reporting team at Bitconews. He is a finance major with one five of writing experience. He has not held any value in Bitcoin or other currencies. He joins Bitconews as a freelance journalist, blogger and forex trader.
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