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Blockchain use in bank guarantees to Bitcoin could make me a billionaire

Blockchain use in bank guarantees to Bitcoin could make me a billionaire

1) VTB, a Russian bank has piloted a new blockchain-based system to issue bank guarantees.

As per the official announcement made by VTB, the bank has provided a blockchain-enabled bank guarantee to Russia’s largest mobile cellular network provider – MTS. Masterchain — an Ethereum-based blockchain prototype was used to implement the operation. The Deputy President of the VTB management board believes that this new system is helping the bank speed up the process of issuance of guarantees and has also decreased the paperwork. In fact, the director of corporate finance at MTS liked how Masterchain-based bank guarantee has reduced the operational cost.

2) Early Bitcoin developer missed a chance of being Billionaire.

Martti Malmi disclosed on Twitter what has happened to 55,000 Bitcoins that he had mined between 2009 and 2010 when the price was almost zero. He actually got those Bitcoin liquidated for $5. He also mentioned that he lost 30,000 BTC through one of the first Bitcoin exchanges as there was no established exchange rate. He also tweeted

I have to add, this hasn’t been as rough as it might first sound. It’s not like I ever had $1B and lost it overnight. Besides Bitcoin’s success, I was pretty darn happy about getting my own apartment at age 22.

3) The MicroStrategy CEO gave advice to Musk regarding crypto.

Michael Saylor, the CEO of MicroStrategy suggested Elon Musk, founder, CEO, CTO, and chief designer of SpaceX and CEO and product architect of Tesla; to convert Tesla’s balance sheet into Bitcoin from USD. He went ahead to offer to share his playbook. MicroStrategy tweeted

If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor. Yes. I have purchased over $1.3 billion in #BTC in past months & would be happy to share my playbook with you offline – from one rocket scientist to another.

4) FV Bank will provide Bitcoin and Ethereum custody to investors.

FV Banks is a global digital bank servicing domestic and international businesses focused on providing fintech solutions. Now FV users can open accounts with fiat or digital asset balances to take advantage of the custodial storage of crypto assets and exchange them for fiat. FV Net will also be compatible with the custodial service. Nitin Agarwal, FV Bank’s Chief Revenue Officer said

These products are proving to be very attractive to our international business, institutional investors, and retail customers. I anticipate the convergence of these products will drive growth in the bank for years to come.

5) JPM Analysts believe if the institutional investment decreases in Bitcoin then there can be Correction.

The latest report by JPMorgan analysts led by Nikolaos Panigirtzoglou suggests that if there will be a decrease in Bitcoin investments made by the institutions this can lead to Correction. They also believe that the rally is due to institutional investors are interested in Bitcoin. In 2020 we have seen a lot of major companies like MicroStrategy, Square, and MassMutual invest in Crypto.


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