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Budding Interest In Cryptocurrency: IBM And Money Managers!!
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The interest in cryptocurrency has been growing non-stop over the past few months, ever since Bitcoin resumed its climb on April 1. Cryptocurrency as a whole seems down right now, but that doesn’t stop companies to continue to invest in it.

IBM in particular has shown a lot of interest, holding the title of most number of patents held in cryptocurrency from 2019. IBM has expanded its initiative in the blockchain space this year much more than any other company. 

As of now, IBM boasts some 108 active patent families, far above Bank of America (52), MasterCard (43), and Intel (35). This has brought up the number of blockchain related patents by 300 percent.

It’s no secret that IBM is bullish on blockchain technology’s potential. The company already runs World Wire, a cross-border payment rail development by its IBM Blockchain division. It is also the top employer of blockchain-related jobs based on the number of offers currently listed online. IBM could quite easily become the dominant player in the blockchain industry for years to come, mirroring their own rise in early computing.

Meanwhile, money managers have been paying a lot of money to scrape information from Bitcoin and cryptocurrency related tweets. In a market where the demand and supply controls the value, an unregulated market sees the price spiral out of control often. Upwards or downwards. Making social media one of the most valuable places to collect information and keep an eye on the mood of the cryptomarket. Algorithms that can decode market sentiment are making waves in the institutional crypto landscape. While A.I. and other software-driven sentiment analysis has been around for a long time as a tool in traditional financial markets, Reuters argues that crypto’s nativity to the internet makes the asset class potentially an ideal fit for such algorithmic parsing tools.

Regular fiat has central banks that drive the value of the currency, providing economic indicators and financial statements for investors to interpret, something the crypto sector does not contain at all, taking pride in its decentralized nature. As the crypto industry grows, so will the tools used to interpret the market.

by Chirag Manshukani

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