blockchain

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Pablo Soria de Lachica Explores Practical Applications of Ethereum

When Bitcoin entered the financial landscape in 2009, it challenged traditional ideas about the limitations of transactions and the necessity of a centralized banking system. Nine years later, the term ‘cryptocurrency’ has become common vernacular and another platform, Ethereum, has built on Bitcoin’s potential and is dominating the headlines. Conceptualized in 2013 by Russian-Canadian programmer Vitalik Buterin, Ethereum is an open-source platform that is poised to facilitate the development of next-generation, decentralized applications. In an attempt to explain what that means in more generalized terms, internationally acclaimed financial strategist Pablo Soria de Lachica recently discussed how businesses are being affected by advancements in blockchain technology. In the words of Buterin, “Ethereum uses many of the same systems as Bitcoin (such as blockchains and peer-to-peer networking) in order to generate a shared world computing platform that can flexibly, but securely, run any application users want to code. Shared ledgers like Bitcoin included.” Soria de Lachica further explained that the platform’s’ intent is…


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Pablo Soria de Lachica Analyzes the Potential Impact of Ethereum on Financial Sector

The past decade has been marked by an avid interest in cryptocurrencies, whose number currently exceeds 1,800 in a market valued at more than $200 billion. Most of the media attention and trading activity seem to be reserved for the original cryptocurrency, Bitcoin (BTC), but corporate interest lies predominantly with Ethereum (ETH) – the second largest digital coin by market capitalization. Coming out almost five years after Bitcoin, ETH has captured the attention of businesses as its network supports faster and cheaper transactions and a functionality believed to have a hugely disruptive potential for almost all industries: smart contracts. The Ethereum blockchain and the capabilities it offers have come to be regarded as particularly promising drivers of innovation in the financial service sector, with some of the biggest Wall Street names rallying behind the project, notes acclaimed forex broker and dedicated philanthropist Pablo Soria de Lachica. Although cryptocurrencies are in the spotlight, it is…


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Pablo Soria de Lachica Discusses Projections for Ether Price Movement against USD

Cryptocurrencies have become a massive market, with more than 1,800 virtual coins traded on digital exchanges around the world. In the early days of 2018, the crypto market cap reached nearly $814 billion, while daily trading volumes topped $71 billion on January 4, according to data from CoinMarketCap. Activity has subsided significantly since then, but interest in these digital assets remains strong despite skepticism from traditional investors and the lack of regulation. Regardless of whether the market ebbs or flows, about 10 major coins account for the bulk of trading, most notably Bitcoin (BTC), Ether (ETH), and Ripple (XRP). While Bitcoin remains the most popular cryptocurrency and the leader by both market cap and trading volumes, ETH has enjoyed steadily rising popularity on account of its association with the highly-regarded Ethereum blockchain network, which is deemed superior because of its smart contracts functionality. Given the volatility of the cryptocurrency market, price predictions are extremely hard to make, but…


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Pablo Soria de Lachica Explains the Advantages of Ethereum-Based Smart Contracts

As blockchain solutions continue to proliferate across all sectors of the international economy—by 2024 the market is expected to exceed USD$60 billion as reported by Forbes, global investment expert Pablo Soria de Lachica examines the benefits of Ethereum-based smart contracts and how companies can greatly improve their organizational capabilities by integrating this cutting-edge, scalable technology. He explains the basic concept as such—a simple system/program (if A executes B, then C occurs) designed to facilitate financial agreements between two or more vested parties, underpinned by the security, reliability and convenience of an encrypted blockchain cryptocurrency such as Ethereum (ETH) which surpasses the often-touted Bitcoin in application due to its open source coding language. Soria de Lachica is not alone in his enthusiasm and positive outlook for this technology, as NASA have recently announced their investment in ETH research with an aim to adapting smart contracts to the programming of space craft, primarily due to the perceived stability of Ethereum (its…


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Pablo Soria de Lachica on What Sets Ethereum Apart in Crypto Space

Even those who are not familiar with blockchain are likely to have heard about Bitcoin, the payment system that uses the technology, after its stratospheric rise in value in 2017. In February 2018, Bitcoin was the most valuable cryptocurrency with a total value of $143 billion USD. Behind that was Ethereum, an up-and-coming cryptocurrency that many experts are predicting will overtake Bitcoin in 2018, at $88 billion USD. Mexico’s Pablo Soria de Lachica, an internationally recognized foreign exchange analyst, explains Ethereum’s benefits that set it apart from its competitors within the crypto sector. To begin, Pablo Soria de Lachica explained that Ethereum is an open source public service that uses blockchain technology to facilitate smart contracts and cryptocurrency trading securely and without a third party. While there are many similarities among virtual currencies, proponents of Ethereum believe its main advantage is that it allows individuals and companies to do much more than just transfer money between entities. In early March, Bloomberg called…


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Pablo Soria de Lachica – on the Potential of Ethereum to Become Top Cryptocurrency

As the first cryptocurrency, Bitcoin heralded the most exciting period for technology since the creation of the internet. However, in the nine years since it exploded onto the global financial scene, the original crypto coin has, in a way, become a victim of its own success. Its meteoric rise sparked the emergence of over a thousand cryptocurrencies, triggered an investor frenzy, and raised a red flag for regulators. Among the multitude of digital coins vying for attention, only a handful stand out and appear destined for longevity. While none of them is currently close to Bitcoin in terms of market capitalization, industry participants and investors have already spotted gaps in the cryptocurrency’s armor. At the same time, another digital coin has kept gaining prominence, consistently proving its worth beyond purely monetary value. Ethereum (ETH), which arrived almost five years after Bitcoin, has become far more than the second-largest cryptocurrency by market capitalization. It is also…


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Pablo Soria de Lachica Comments on Growing Ethereum Support by Governments Worldwide

The appeal of blockchain technology extends beyond cryptocurrency. Currently, it is being explored by governments around the world for applications ranging from e-residency to Internet of Things devices. Increased efficiency and security are the major reasons national administrations are considering the integration of blockchain technology in their operations, says Pablo Soria de Lachica. The distributed ledger is a digital record of transactions that is spread across peer-to-peer networks. Attempting to create unrealistic records is very difficult, since each “block” in the chain is encrypted. Also, because the blockchain is not found in a single location, it is nearly impossible to alter every single record on the ledger. If applied, citizens’ identities and transactions with the state will need less checks to ensure accuracy and security. The US Food and Drug Administration recently issued a formal notice to obtain information on the blockchain’s application for exchanging patient-level medical data in the United States Critical Illness and Injury Trails…