El Salvador President Nayib Bukele took a victory lap on Monday after the Bank of England’s British pound rapidly depreciated against the dollar. The institution has since resumed quantitative easing. Its action marks a clear pivot that many in the Bitcoin community predicted central banks would be forced into months in advance. Bukele’s Callout Bukele tagged the Bank of England with a triumphant “Told you,” over Twitter, scoring over 14,000 like and 2000 retweets from his followers. His brief comment…
In recent times, accounting company Ernst & Young held Blockchain Summit 2020 online. During the summit, the company’s blockchain leader, Paul Brody, noted that Ethereum is the best for blockchain-based industry solutions.
The leader said the major thing is to focus on taking advantage of the public blockchain and all of its available tools and developers. Brody highlighted the necessity of the company’s blockchain initiatives to avoid private blockchain solutions. Blockchain will only be able to meet expectations if enterprises and investors prefer public blockchain networks, he noted.
His words suggest a robust support for huge decentralized networks such as Ethereum whose operation is not within the scope of centralized organizations in securing transactions and data.
The Ethereum 2.0 update developed towards solving scalability issues is yet to be launched. However, Brody thinks Fortune 500 firms will be interested in leveraging the potential of broad network impacts that support public blockchains.
In the words of Brody regarding public blockchain in 2019, they are the solutions for enterprises. He noted that public blockchain, such as Ethereum, is the best for enterprise users and it is only a domain of competing service providers.
The company is developing its Ethereum-based initiative known as Baseline. It was launched last month in collaboration with Microsoft and ConsenSys. The company is working on enabling businesses to carry out transactions privately and securely on public networks with solutions that meet regulations.
The firm is likewise investing in other nascent technologies with the potential of defining the future, which includes quantum computing, IoT, 3D printing, artificial intelligence and drone-powered systems.
However, it is majorly focused on blockchain which is the technology that powers cryptocurrency and a new wave of decentralized finance.