2019 has been yet another amazing journey for cryptocurrency and blockchain technology. There have been times where everything was going well and something happened that made us go “whoops”, while there were times where we thought the industry is going stagnant and something happened to prove otherwise.
One thing for sure is, it had been a fun year, with massive adoption of crypto happening all around the globe, and greatest blockchain development that we could all see with our bare eyes, which is safe to say that 2019 had been fun, and fun is always good, don’t you think?
So, before we wrap up 2019 in the crypto sphere, let us take a glance at the top 5 cryptocurrency and blockchain development narratives that have been most favourite for crypto enthusiasts this year.
Facebook and Project Libra
Facebook is known to have a massive community. It is safe to say that everyone owns a Facebook account, or at least had owned one some time in their lives, while Mark Zuckerberg, the CEO of the firm is known globally, and likeable, I might add.
However, Facebook has stirred the industry and intimidated regulators and governments like Germany and France, when it is made public that they are currently developing Facebook’s cryptocurrency known as Libra.
Despite many other entities planning to invent their digital currency, project Libra has received tremendous attention that turned it as a hugely controversial project, mainly because Facebook is known to have massive community, and that in a way, intimidates other countries’ sovereignty.
Xi Jinping and Blockchain Initiative
Xi Jinping, a Chinese politician and the general secretary of the Communist Party of China, President of the People’s Republic of China, and chairman of the Central Military Commission had called for an increased effort in blockchain technology and has urged the community in China to see its importance.
Ever since then, China is reportedly been working hard to become the world leader in blockchain and again, has announced on their plan to have their cryptocurrency. Known as the world’s second-largest economy, becoming the world leader in blockchain technology will eventually intimidate other big countries like the United States and Korea who are also currently working towards blockchain development.
Notably, there have been over 500 blockchain projects already registered with the government and China is the biggest nation to have already come out with a blockchain policy. Thus, for the rest of the world, this is an emergency call for them to come out with their policies. Pronto.
One of our colleagues labelled this firm as “Crypto Mogul”, and he is not always overdramatic, which means that it is true. Binance is safe to say the largest cryptocurrency exchange platform by far in the community and 2019 has been amazing for this firm.
There have been great moves made by Binance this year, from the acquisition of WazirX in India to the launching of four international crypto-fiat exchanges which are Binance US, Binance Singapore, Binance Uganda and Binance Jersey.
Changpeng Zhao, also known as CZ Binance, the CEO of the firm has also received attention from people in the crypto community globally and is always looked up on Crypto Twitter for exciting news and announcements. In late November, CZ claimed to be wanting to sue The Block for their report on Binance Shanghai office shut down.
CZ claimed that the for the past 2 years, the firm firm never had offices in Shanghai, so whose office was raided by the authority is still a question.
LUNO Relaunching in Malaysia
This is my personal favourite, mainly because it happened in Malaysia, and it is LUNO, which is hard not to love because the firm is amazing. It is notable that LUNO, a platform facilitates bitcoin storage and transactions of buying and selling cryptocurrency had re-entered Malaysia and is staying for good.
The best part is the firm has become the first-ever cryptocurrency exchange platform that is approved by the Securities Commission of Malaysia (SC). Currently providing Bitcoin (BTC) and Ethereum (ETH) on the platform, it is reported that LUNO is planning to include Ripple XRP moving forward and is now working with SC on the regulations.
Good to go, Luno and Malaysia!
Bakkt to Bakkt
On July 2019, Bakkt has informed the public that they have currently begun testing Bitcoin (BTC) futures platform from the Intercontinental Exchange (ICE). As promised, the platform went live in September.
The launching of the BTC futures platform has led Bakkt to be the subject of a great deal of speculation and anticipation from the people in the crypto community. Many of them, especially traders and investors believe that physically delivered futures trading of BTC represents a leap forward for institutional acceptance of Bitcoin in particular and crypto in general.
Although some believe that Bakkt is a contributing factor of Bitcoin’s price fall afterwards, the firm has proven to the crypto community otherwise as over 450 BTC futures contracts were traded within one month after the platform was launched, indicating the platform has provided an alternative and a favourite new approach of cryptocurrency trading.
Our Two ‘Sats’
So, we have gone through the top 5 of most favourite cryptocurrency and blockchain technology narratives happening in 2019. There are other interesting projects and development occurred this year, in which we at Techcryption have provided extensive coverage that is accessible to the crypto community on our website and social media channels.
The only thing for us to do next is embracing the year of 2020 with a mindset that cryptocurrency will definitely become the world future money and that blockchain technology will leap further with the right amount of talents and development. Alas, let us wait for all the things that are going to happen in 2020.
Bitcoin halving, for instance. What will happen to the BTC price after the third halving? Let us know what you think! Last but not least, thank you 2019, hello 2020!
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Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.