In a follow-up to their historic rally in 2021, Bitcoin, Ethereumย (ETH), and other digitalย currencies are presently mired in a lackluster performance, with speculators forecasting a resurgence of the bull run.
The value of Bitcoin, regardlessย of a near doubling from its bottomย Line in late 2022, has found it challenging to rekindle its upward trajectory inย theย year. The Ethereumย (ETH) price tag has similarly been eclipsed by theย pastย few surge in meme-based digital currencies.
Reportsย by Forbes, Goldmanย Sachsย Group, Microsoft, and other industry giants are investing in technologies with theย capacity to mainstream Bitcoin, Ethereumย (ETH), and digitalย currency trading.
Rashmi Misra, Microsoftโs general manager of artificial intelligence and emerging technologies, wrote in a newsย release announcing the Canton Network blockchainย tech project:
We look forward to helping the financial community build and scale cloud-enabled Webย 3.0 applications on Azure while harnessing the power of Artificialย Intelligenceย (AI) to makeย better the user experience and drive developer adoption.
Goldmanย Sachsย Group and Microsoft, between other notable entities such as Deloitte, S&P Worldwide, Moodyโs, BNP Paribas, Cboe Worldwide Markets, and Paxos, have endorsed the Canton Network.
This up-and-coming blockchainย tech platform, scheduled for a July testing rollout, is engineered to address prevalent digitalย currency issues, including privacy deficits, control over data, cross-chain compatibility, and scalability.
The Canton Network is set to connect trading platforms, including those of Deutsche Bรถrse, Goldmanย Sachsย Group, and more. Reportsย by recent revelations, its monthly notional traded volume surpasses most active cryptocurrency tokens.
Earlier in 2023, two worldwide financial powerhouses, Fidelity and BlackRock, independently announced their foray into the Bitcoin, Ethereumย (ETH), and digitalย currency landscape. Fidelity has launched its cryptocurrency trading platform for its 37 Million users, offering commission-free Bitcoinย (BTC) and Ethereumย (ETH) transactions.
Microsoft, itโs worth noting, is reportedly developing a built-in Ethereumย (ETH) cryptocurrency wallet for its Edge browser, enabling users to send and receive digitalย currencies and Non-Fungibleย Tokenย (NFTs) without additional extensions.
The tech giant started accepting Bitcoin for digital goods back in December 2014, but asย aย resultย of the digitalย currencyโs volatility and danger it removed it as a payment option in July 2021. Microsoft users can, nevertheless, still use Bitcoin toย finance their account.
Featured Image viaย Unsplash
