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Cryptocurrency: Redefining the Future of Finance

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Cryptocurrency: Redefining the Future of Finance

Cryptocurrency is a thriving ecosystem, quietly encroaching on conventional finance’s territory.

Over the last five years, Bitcoin users and transactions have averaged a growth rate of nearly 60% per year. Similarly, private and public investors have deepened their commitment to cryptocurrencies including Ethereum, Ripple (XRP), and Stellar—and a number of others across the industry.

Today’s infographic unpacks a cross-section of cryptocurrencies, stakeholders, and core applications across a sector that’s continuing to grow in importance.

The Evolution of Cryptocurrency

Cryptocurrency has erupted into a $200 billion industry, sparking a wave of global disruption.

At the heart of cryptocurrency is a rich history of innovation. It extends back to the 1980s with advances in the field of cryptography—eventually leading to the technology that forms encryption techniques designed to protect the network.

Since then, a series of key events have continued to shape the sector.

Year
Event
2009Satoshi Nakamoto mines the first Bitcoin on a decentralized network
2011Litecoin launches
2012Ripple is founded
2013The price of a single Bitcoin reaches $1,000
2015Ethereum launches, introducing smart contracts into the crypto ecosystem
2017Over 1,000 cryptocurrencies listed
2017Bitcoin's price rockets past $10,000, reaching a peak just shy of $20,000
2018EOS offers a blockchain-based infrastructure for decentralized apps (DApps)

Now, there are over 5,000 cryptocurrencies in circulation, with many built on innovative applications and use-cases as the ecosystem rapidly evolves.

The Value of Cryptocurrencies

Today, crypto offers cutting-edge advances that are diverse and transformative. In addition, it could also be considered an investment in tomorrow’s financial system—decentralized finance (DeFi).

DeFi is an emerging alternative financial system that is built on a public blockchain, which enables greater accessibility because anyone has the ability to connect to it. Additionally, transactions are publicly visible, enabling greater transparency across the system.

Here is a refresher on some of the practical advantages being applied across cryptocurrencies.

Use CasesNameDescription
PaymentsBitcoin
Ripple (XRP)
Stellar
Dash
Used for purchasing goods without the need of a trusted third-party
Value Storage
Bitcoin
Litecoin
As the total supply of many cryptocurrencies are limited, this scarcity influences their value
Stablecoins
DAI
USDC
GeminiUSD
Digital money that is typically pegged to a currency or commodity, such as gold
Privacy Monero
Zcash
Cryptography, the technology behind crypto, can enable the anonymity of its owners
Digital Ownership
Bitcoin
Ripple (XRP)
Stellar
Can empower those without access to a bank to enter the financial system
Digital Gold
BitcoinBitcoin shares similar attributes to money: a medium of exchange, unit of account, and store of value
Decentralized Apps (DApps)
EOS
Tezos
Ethereum (ETH)
Enable individuals to create apps without a central authority, directly connecting the user and creator

The Key Players in the Crypto Landscape

The cryptocurrency ecosystem is growing rapidly. Worldwide, private and public actors recognize its potential across many domains.

Who are the primary participants in the field today?

Private Actors

  1. Institutional Investors
    Harvard Endowment Fund, Crypto Hedge Funds
  2. Cryptocurrency Exchanges
    Coinbase, Bitstamp
  3. Banks & Finance
    J.P. Morgan, Fidelity Investments, Swissquote
  4. Tech
    IBM, Microsoft
  5. Power & Utilities
    RWE

Public Actors

  1. Governments
    Venezuela
  2. Central Banks
    China, Sweden, Saudi Arabia
  3. Organizations
    Crypto Valley Association, Global Digital Finance

The rising popularity of crypto is bolstering new policies and adoption, as evidenced by the many players trying to break into the space.

The Big Picture:

As crypto continues to gain momentum, its longer-term implications will come into focus. Crucially, its cryptographic foundation sets the stage for future advances in finance.

  1. Privacy
    Anonymized transactions protect users data through cryptographic techniques
  2. Access
    Providing a new financial model for 1.7B unbanked individuals around the world
  3. Efficiency
    Steep reductions in settlement time and efficacy could save consumers $16 billion annually
  4. Security
    Providing immutable, traceable records of security-rich transactional networks
  5. Programmable Money
    Smart contracts could drastically eliminate manual and administrative work⁠— ultimately bypassing them altogether

Rooted in decentralized and autonomous systems, cryptocurrencies are creating second-order effects in the financial world. Ultimately, cryptocurrencies are helping to transform finance as we know it—unlocking countless investment opportunities across the global economy.

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Here’s What Happens Every Minute on the Internet in 2020

A lot can happen in an internet minute. This graphic looks at the enormous numbers behind the online services billions use every day.

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What Happens Every Minute on the Internet in 2020

In 2020, an unfathomable amount of digital activity is occurring at any given moment. This ongoing explosion in activity is the aggregate output of 4.5 billion internet users today, a number that’s projected to increase even further in coming years.

This powerful visual from Domo helps capture what happens each minute in today’s hyper-connected internet era, and it’s actually the eighth edition produced since the year 2012.

What can we learn from the evolution of what happens in an internet minute?

How Times Have Changed

Over its relatively short history, the internet has been a catalyst for both the rise and demise of new companies and platforms.

By looking at which brands have appeared in the graphic in earlier years, we can roughly chart the prominence of certain tech segments, as well as observe brands with the most staying power.

data never sleeps wheel over time

As you can see above, platforms like Tumblr, Flickr, and Foursquare showed some promise, but eventually got omitted from the graphic as they dropped off in relevance.

Meanwhile, tech companies like Facebook, Amazon, and Google have had impressive staying power, evolving to become some of the biggest companies in the world. In the process, they’ve caught up to longer-standing titans like Apple and Microsoft at the top of the food chain.

The New “New Thing”

Not surprisingly, much of the internet landscape looks different in 2020. Here are a few of the digital hot spots today.

Cash Transfers
Nearly $240,000 worth of transactions occur on Venmo per minute. This has served as a catalyst for parent company PayPal, which evolved along successfully with fintech trends. PayPal’s stock now trades at near all-time highs.

E-Commerce
Even before COVID-19 resulted in shuttered storefronts and surging online orders, e-commerce was a booming industry. It’s now estimated that $1 million is now spent per minute online. Amazon ships an astounding 6,659 packages every minute to keep up with this demand.

Collaboration Tools
In a predominantly remote-working environment, tools like Zoom and Microsoft Teams host 208,333 and 52,083 users each minute respectively. Particularly in the pandemic era, it seems that this trend is here to stay.

Accelerated Turnover

The accelerated world we are in today means that many companies do not sustain a competitive advantage for as long. Social media companies have dwindled as observed above, and this is similarly reflected in the average lifespan of an S&P 500 company.

A typical company’s tenure on the S&P 500 is expected to shrink rapidly in the next few years:

  • 1964: 33 years
  • 2016: 24 years
  • 2027E: 12 years

Companies are shaving anywhere between 15-20 years off those highs, with estimates of further declines. This metric symbolizes the rapid evolution of the business landscape.

What Lies Ahead

It’s seemingly easy to forget mankind is still very early in the developments when it comes to the internet. But in this short period, its rise to prominence and the broad digitization of the world has left us with a very eventful timeline.

If the last decade serves as a reference point, one can expect further and intensifying competition among tech companies. After all, the reward—winning in today’s digital economy—reaps much greater value.

All signs point to internet activity advancing to further heights, if not because of 5G and its associated breakthroughs, then perhaps due to the steady rise in people gaining internet access.

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Ranked: The Most Popular Websites Since 1993

This animation provides an interesting overview of the websites with the highest traffic over the last few decades, and how the rankings have changed.

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The Most Popular Websites Since 1993

The internet has become an increasingly important part of our everyday lives.

While it’s hard to imagine modern life without Google or YouTube, it’s interesting to reflect on how much the web has changed over the last few decades.

This animation by Captain Gizmo provides a historical rundown of the most popular websites since 1993, showing how much the internet has evolved since the early ’90s.

The Top Websites

While the web has changed drastically over the years, the top-ranking websites have remained relatively consistent. Here’s a look at the websites with the most traffic since 1993, and when each site held the number one spot:

Date RangeTop Ranking Website
Highest Number of Monthly Visits
Jan 1993 - Jun 2000AOL405,000,000
Jul 2000 - May 2006
Yahoo
5,500,000,000
Jun 2006 - Jul 2008
Google8,300,000,000
Aug 2008 - Jun 2010
Yahoo11,600,000,000
Jul 2010 - current
Google81,000,000,000

*Note: Numbers rounded for clarity.

AOL

AOL was one of the first major web portals, back in the era of CD-ROMs and dial-up modems. In its heyday, the company dominated the market, largely due to an aggressive free trial campaign that cost millions (possibly even billions) of dollars to execute.

Despite the large investment, the campaign worked—at its peak, AOL had over 30 million users, and a market cap of over $200 billion. It was the most popular website online until the early 2000s, when broadband started to replace dial-up. As the sands shifted, AOL struggled to stay relevant and was eventually sold to Verizon for just $4.4 billion.

Yahoo

Following AOL’s downfall, Yahoo became the next internet giant.

Starting off as a web directory, Yahoo was the first website to offer localized indexes for major cities. At Yahoo’s zenith, it was worth $125 billion, but a series of missed opportunities and failed acquisitions meant that it could not keep up. Like AOL, Yahoo is now also owned by Verizon, but remains a top 10 website globally.

Google

It’s no surprise that Google currently comes in at number one. It started out in the early ’90s as a university research project. Today, it’s become virtually synonymous with the internet, which makes sense, considering 90% of all internet searches are made on Google-owned properties.

Old School Search Engines

Prior to Google’s success, there were several other go-to search engines that paved the way for Google in many ways:

  • WebCrawler: One of the earlier search engines, WebCrawler was the first search engine to enable full-text search. At one point, the website was so popular, it’s server would constantly crash, making it virtually unusable during peak hours.
  • Lycos: This was another pivotal search engine, created in 1994 (a year before Yahoo). Lycos was the first of its kind to incorporate relevance retrieval, prefix matching, and word proximity.
  • Infoseek: As Netscape’s default search engine, Infoseek was popular during the web browser’s heyday. Eventually, Infoseek was purchased by Disney and rebranded to go.com.

Unlike Infoseek, Lycos and WebCrawler have somehow managed to stick around—both companies still exist today. Of course, they’re nowhere near comparable to Google in terms of revenue or daily search volume.

The Evolution of Social Media

Unless you are a Gen Zer, you probably remember MySpace. Like Lycos and WebCrawler, MySpace technically still exists, although it’s certainly not the high traffic site it used to be.

Created in 2004, MySpace became a hub for musicians and music fans on the web. In just a year, the website saw massive growth, and by 2005, it was acquired by News Corp. MySpace continued to dominate the social media landscape until 2008, when Facebook took over as the internet’s most popular social media platform.

Facebook’s story is well-known at this point. The Zuckerberg-led creation was a social networking site that was exclusive to Harvard students, but it soon opened up to dozens of other universities and then finally the general public in 2006. Just two years later, and the site had 100 million active users, rising to the top of the social media spectrum.

Although Facebook often finds itself mired in controversy today, the site remains the world’s most popular social media platform on the internet with close to 3 billion users.

What’s Next?

It’s hard to predict what the future holds for Facebook, or for any of the other websites currently dominating the web.

If anything is clear from the above animation, it’s that the list of the world’s most popular websites is constantly shifting—and only time will tell what the next few decades will bring.

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