Quick weekly news:
- Blockchain technology stands to boost the global economy by $1.7 trillion in the next decade
- Local government premises in Japan have been hit by a flood of extortion attempts demanding bitcoin.
- After the latest addition of 42 banks, about 100 Italian banks are officially operating on the country’s banking blockchain network
Other notable events include:
- Blockchain technology stands to boost the global economy by $1.7 trillion in the next decade.
- The Filecoin network mainneted at 14:44 UTC, beginning its FIL token distribution.
Also, be sure to check out top altcoin gainers and losers of the week
Filecoin flies
The Filecoin network mainneted at 14:44 UTC, beginning its FIL token distribution. Filecoin is a system from Protocol Labs meant to be both a decentralized file storage and content distribution network in one. The new token is very likely to make history as the fastest newly live blockchain to reach a market capitalization of over a billion dollars, though we can’t really know until the FIL tokens enter trading. Despite multiple delays, the Filecoin project has attracted considerable attention, particularly in China, where investors have been speculating heavily on the network’s mining hardware and the FIL token.
$1.7T boost
Blockchain technology stands to boost the global economy by $1.7 trillion in the next decade, according to a new report by consulting company PricewaterhouseCoopers. PwC economists forecast a tipping point in 2025 if blockchain technologies are adopted at scale across the world, and expect blockchain applications to boost global gross domestic product (GDP) by $1.76 trillion, (1.4% of global GDP) by 2030. “Serious activity around blockchain is cutting through every industry across the globe right now,” Steve Davies, global Blockchain leader at PwC, said in the report. According to the report, blockchain will make the biggest impact on Asia’s economy with China, India and Japan driving adoption in the region.
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