While the light shines brightly on the price movements of cryptocurrencies and the noise in the mainstream markets continue to provide a wide spectrum of opinion about the future of cryptocurrencies, the technology that underpins Bitcoin is in the spotlight.

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Clive Jimmieson of Crossgate Capital – New Zealand’s first regulated share offer in a company investing in Bitcoin and other cryptocurrencies – says ‘Chinese President Xi Jinping recently announced that China should seize the opportunities afforded by blockchain.’

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‘When the leader of the world’s second-largest economy is focused on accelerating the adoption of blockchain as they consider it is essential for technological innovation, it is a positive signal for the sector’, says Jimmieson.

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Development and real world use of blockchain is occurring across international borders and all types of industry. Jimmieson noted, ‘The first major application of blockchain technology was Bitcoin. Bitcoin has been around now for ten years and during this time blockchain technology has also underpinned the growth of cryptocurrencies as an emerging asset class’.

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‘Strong development talent is being attracted to this sector. It will be interesting, after the announcement by President Xi Jinping how this impacts the number of developers going forward’, says Jimmieson.