Digital Assets – Prologue
Bitcoin Example
- Of a capped total of 21 m. Bitcoins, 18.77 m. have been "mined"
- Some sources estimate that as many as 3 m. bitcoins (~$38 billion) are irretrievable
- Due to:
- Lost retrieval codes ("private keys")
- Lost USB's where the only records are stored
- Owner death without leaving the private keys accessible to executors or next of kin
Digital Assets – Prologue
Cryptocurrency Market Expanding
- Wealthsimple now offers 34 different cryptocurrencies on its investing platform
- Some popular ones include:
- Etherium
- Litecoin
- Ripple
- Cardano
- Dogecoin
Digital Assets – Prologue
Non‐Fungible Tokens
- Since our last Toolbox Non‐Fungible Tokens have expanded into other asset classes.
- A Non‐Fungible Token is a token stored on the blockchain
- Blockchain itself is a secure distributed database with redundancy, immutability, and clarity into tracking data or ownership.
To read the full article click here
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.