On 31 October, 2018, Morgan Stanley experts – namely James Faucette, Betsy Graseck, Sheena Shah – published an updated report on bitcoin, cryptos, and blockchain. The report consists of several chapters and we would like to inform you in short about their content.
First, the authors provide us with a summary of the last six months stating that it is not surprising that BTC and crypto prices fall, as trading volumes are falling. The same goes for ICOs, however massive losses have not been observed for the period specified. They also note that there have been early blockchain uses eg in shipping.
Secondly, the experts show evolution of Bitcoin understanding from its existence till now. Interestingly, they call Bitcoin a “new institutional investment class” pointing out that it started to play this role in 2017.
Then the authors characterize size of the crypto market and its liquidity, bitcoin trading pairs (BTC/JPY, BTC/USDT, etc.) switching to describing stablecoin’s features. After that they try to give answer to the question “Why is Bitcoin stable”, noting that markets are waiting for the “next technological development”. The experts also show breakdown of bear market on graphs.
The large part of the report is devoted to the concise description of Bitcoin evolution. Its final part describes issues of legal regulation and examples of use cases. And one page seems to be very promising – the authors think that blockchain might find its final stop in Amazon, IBM, and Microsoft.
Morgan Stanley is a large US investment bank and financial services corporation. According to Wikipedia, it has offices in more than 42 states, its clients include companies, governmental structures, institutions, and individuals.