Page 123 - Ocean Blue World Fall 2019 Edition

PORTFOLIO

he reasoning is that many central bank-
operated wholesale payment systems
are considered to be at the end of their
T technological life cycles. The systems are
programmed in obsolete languages or have inefficient
and costly databases. Cross-border payments, for
example, are widely regarded as an area in which
significant efficiency gains exist. Not to mention
the enormous potential for giving access to “digital”
banking services for people in emerging economies. New
technologies and new business models could be used to
address some of the issues.

For now, investors should continue to worry about the
re-emergence of enthusiasm for cryptocurrencies.

Could it rise further?

Sure. If it is a bubble then Bitcoin’s closest parallel will
probably be the 1637 Dutch Tulip Mania, this time in
a digital format.

Sources: C, D.Howe – J.D.Murray, Pictet Asset Management, IMF, BIS Bloomberg
Photos Courtesy Of: Elitetrader.ru, Getty Images

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