Microsoft (NASDAQ:
MSFT) enables users of its Azure cloud business to utilize Ethereum.
Clearly, by providing businesses and banks with an exceptionally secure, easily used network, Ethereum is tremendously useful to them. And unlike most cryptocurrencies, it’s not a threat to the profits that banks make through fiat currency transactions. The platform does not undermine governments’ abilities to control the money supply, trace transactions and levy taxes.
Therefore, I think Ethereum’s acceptance by banks and governments is a key reason why it’s used to a much greater extent by these institutions than other cryptocurrencies.
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Tech Stocks Lead S&P 500, Nasdaq Lower
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