APCU News Letter, Series “Politics and Currencies in the Blockchain Era”

◇Looking ahead to the blockchain era～Bitcoin dominance exceeds 50% for the first time

Nowadays, blockchain has emerged from merely a new trend to take the central stage of ICT and the finance industry.

Blockchain is originally a concept invented as the core technology for bitcoin, but now it is receiving the most attention as a technology which brings about innovation which follows the internet, which will contribute to the activation of financial services by use in financial  transactions which require high reliability on the internet and as technology which allows exchange of important data.

It is said that such innovation will not only bring about revolution in the industrial structure, but will also affect the structure of society and politics. JCU is expecting to take up the significant changes to be brought about in the blockchain era as one of the themes in “J-CPAC2018”, since it is a system which will move the world economy and JCU is convinced that it will come to have a close relationship with politics.

Going forward, information regarding cryptocurrencies including bitcoin and information related to blockchain which is a technology which supports cryptocurrencies will be delivered on a timely basis. Below is the first article.

On August 11, bitcoin dominance (the percentage of bitcoin to the total market value of all cryptocurrencies) exceeded 50%, and came to the highest level since December of last  year.

One factor which is conceived to have supported the continued increase of dominance is the growing expectation towards Bitcoin ETFs. However, for investors, “50%” is merely a milestone. Last December, bitcoin dominance plunged due to the surge of altcoins, and hit bottom in May of this year, after which it changed to an upper trend and reach the current high level. However, there is a possibility that the trend will change with money flowing into

altcoins, since we have actually seen cases in the past where trends have shifted and money fleeing to altcoins after exceeding the 50% level. Such shift in funds surprising does not necessary head towards the higher market cap altcoins, but rather towards altcoins ranking below 10th place or lower, and so it is necessary to watch the  trend broadly.

We should keep our eyes on the bitcoin dominance for a while.