The weekly report – week 2
After a pretty stable week, BTC took a dive and the media responded as usual. Since we are not interested in the prolonged bear market speculation, we will continue to focus on what matters: progress. Yesterday, on the 14th of January, the WFES kicked off in Dubai. World Future Energy Summit is a global industry platform connecting business and innovation in energy, clean technology, and efficiency for a sustainable future. The summit lasts for 4 days and today there will be a “Panel Session: Use of blockchain to enable energy transition.” We might take a look at the news from this event for the next weekly report. As this is a week 2 report, let’s look at the things leading up to this report instead…
Ethereum Classic suffered a “classic” 51% attack and several exchanges were targeted. The aftermath implies that additional security measures need to be applied and everybody in the business has something to learn and improve. NASA is talking about blockchain-based infrastructure for Air Traffic Management (very long pdf). For those who like to browse Reddit, here is a nice thread about “…every 24 days the U.S. national debt grows more than the entire market cap of Bitcoin.” We mentioned Bakkt a couple of times throughout these reports and now there is more to add. Read this article to see exactly what is going on and who is involved. Coinhako, a Southeast Asia-based blockchain platform, announced that they now offer 100 crypto-fiat pairings, and this report states that despite the harsh 2018, cryptocurrency and blockchain-related conferences are gaining numbers.
Traditional systems are struggling to keep up and as prices drop and efficiency goes up for solar installations, more and more producers and corporations are forced to start making a radical change for the inevitable transition: oil & gas to solar+batteries. Some countries and governments are pushing hard for this transition and within 5-10 years some automobile industries and countries will stop producing or selling petrol vehicles completely. Russia made some headlines, although some were obviously fake (cough cough Russia buying Bitcoins…), but this report about the parliament focusing on cryptocurrency and digital economy seems legit and is a high priority for 2019.
The trend is similar on a global scale and most authorities are keen on fixing regulatory issues as soon as possible. While the rules, regulations, and government stances are unclear, Indian banks are threatening to close accounts of customers who use cryptocurrencies.
That will be all for this week and below is the usual top 3 energy tokens performance for the past 7 days.
Power Ledger POWR -11.56% with a total market cap of $30,201,000
Restart Energy MWAT -12.51% with a total market cap of $6,667,000
WePower WPR -7.32% with a total market cap of $6,616,000