April 2018

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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…