Since the beginning of 2017, cryptocurrencies have been what dreams are made for those with the purpose of investing in them. Although unusually risky and largely untested, the total value of all digital currencies increased by more than 3,300% last year to 613 billion.
USD, and just weeks ago it hit as high as 835 billion. In just a year, investors were treated to what corresponds to a lifetime of gains.
The rise of crypto curves has a lot to do with the emergence of blockchain technology. Blockchain is the digital, distributed and decentralized ledger that is responsible for logging all transactions without the need for a financial intermediary. It is designed to solve a number of perceived issues with the current banking system, including excessive transaction fees and long waiting times for settlement payments.
5 Cryptocurrencies That Have Brand-Name Partners
1. Bitcoin
Microsoft (NASDAQ: MSFT), DISH Network (NASDAQ: DISH), PayPal and Intuit as payment partner in that year. Microsoft allows users to purchase content in Windows and Xbox stores using Bitcoin.
2. Ethereum
JPMorgan Chase, Microsoft, Intel, Mastercard, Credit Suisse and BP (NYSE: BP) to name just a few. In particular, BP tests the capabilities of Ethereum's blockchain to accelerate trade in energy futures trading.
Ethereum was also the first major crypto currency to signal to the world that blockchain has applications beyond just currency.
3. Ripple
MoneyGram International (NASDAQ: MGI), designed to speed up the time it takes to move money across the globe.
In mid-November, Ripple announced that American Express (NYSE: AXP) and Banco Santander (NYSE: SAN) would use its blockchain in a true cross-border payment test.
4. Stellar
Although it was in the radar for much of 2017, Stellar exploded in a great way in October when it announced blockchain partnerships with both computer giant IBM (NYSE: IBM) and KlickEx, a Polynesian currency exchange service.
5. Qtum
This month, the Qtum Foundation announced that it had collaborated with two major Chinese companies. First, Qtum works with 360 Finance, a subsidiary of the now private Qihoo 360. If the name sounds familiar, it is because Qihoo 360 is the company behind 360 Search Engine in China, which has a market share of approx. 10% highest in China). The Qtum Foundation, together with the 360 Blockchain Research Center and the BTN Foundation, will work to develop next-generation smart contract solutions.
