Institutional investors are eager to invest in cryptocurrency and other digital assets, but won’t until they’re sure those assets can be safely secured and moved in the same way cash, stocks, and bonds are.
Despite an overall blockbuster year for Fintech, there was a blockchain bust, with investment falling substantially in 2019, according to KPMG. Global private investment in blockchain and cryptocurrency dropped from $6.3 billion in 2018 to $4.7 billion last year.
Walmart, Merck, IBM, and KPMG are teaming up with the U.S. Food and Drug Administration on a blockchain pilot program aimed at protecting the American pharmaceutical supply chain.
Last month in New York City, legendary auction house, Christie’s, set a world record by fetching $323.1 million for the Ebswoth Collection of works by American Modernists masters Edward Hopper, Willem de Kooning, Jackson Pollack, Georgia O’Keeffe, Alexander Calder, Joseph Stella, Charles Demuth, Charles Sheeler, and others. Not only did the auction shatter records for the highest prices ever secured for a collection as well as for 13 individual artists, but it also was the first art sale of this magnitude recorded on the blockchain. Partnering with Artory, a blockchain-based registry that tracks provenance for art and collectibles, Christie’s is leading the way in bringing mass adoption of the blockchain…