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Technology Act. 22 Aug 2017

Bitcoin wishes for institutionalization

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Magister Advisors, financial consulting firm for technology companies, has published the study 'Blockchain Bitcoin in 2016: A Survey of Global Leaders'.

Banks were aware of the opportunity hiding behind the media attention garnered by Bitcoin since its modest start in hacker circles. The blockchain technology has been hunkering behind the noise, and efforts toward the future have focused on it.

However, Magister Advisors, financial consulting firm for technology companies, has recently published a study which could suggest that Bitcoin has evolved over the last two years. Since it hasn't changed to the worse, there was no repercussion in the media. But it could be said that Bitcoin is rising from the ashes and finding its place among other private blockchains.

The study shows that investment in technologies based on Bitcoin reaches almost 1 billion dollars and this figure is expected to keep growing. The good thing is that this investment is not exclusively from venture capital firms, and funding rounds in 2016 are expected to exceed 100 million dollars.

The institutionalization process for Bitcoin was unthinkable two years ago but is now at its peak. There are already regulatory bodies, a start-up ecosystem  has been built around the virtual currency, and behind Bitcoin there is a very active community working to solve any risks and problems.

Europe has been, according to this report, the region in the world which has paid the recovery of Bitcoin. In little less than 24 months, it has been able to reach the top of a business worth billions of dollars. However, the study mentions underdogs from the Old Continent. Some of them, such as Guardtime, are specialists in ensuring the security of the crypto-currency.