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Can bitcoin halving effect the bitcoin market? Less than 120 days to find out!

In a nutshell

Bitcoin is the world’s largest cryptocurrency which aims to facilitate online payments for people from all walks of life, irrespective of their country of origin. Each bitcoin is a digital form of cash that is stored in a 'digital wallet' application on a smartphone, computer or cryptocurrency hardware wallet. Owners of bitcoins are anonymous and the only connection between a buyer and a seller is through encryption keys. No social security numbers, names, government, banks or other institutions are in control. In fact, Bitcoin transactions are processed and secured in the network by miners solving computational problems that allow them to chain together blocks of transactions. Every transaction is then recorded in a public list called the blockchain.

Strategy reflects the benefits of blockchain technology

In April 2019, the government of the United Arab Emirates (UAE) launched a wide-ranging blockchain strategy for the country with implementation planned by 2021. The Emirates Blockchain Strategy 2021 utilises blockchain technology to digitise public services, with the intention of transferring more than 50% of all government transactions into a blockchain platform by the year 2021.