{"id":594410,"date":"2024-11-04T10:03:26","date_gmt":"2024-11-04T10:03:26","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=594410"},"modified":"2024-11-04T10:03:26","modified_gmt":"2024-11-04T10:03:26","slug":"ethereum-is-akin-to-amazon-in-the-1990s-has-vast-potential-21shares-says","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ethereum-is-akin-to-amazon-in-the-1990s-has-vast-potential-21shares-says","title":{"rendered":"Ethereum Is \u201cAkin To Amazon In The 1990s,\u201d Has Vast Potential, 21Shares Says"},"content":{"rendered":"

Fund manager 21Shares say the investment potential of Ethereum is similar to that of the $2 trillion tech giant Amazon back in the 1990s.<\/span><\/p>\n

Ethereum is “complex, akin to Amazon in the 1990s — promising vast potential but less straightforward in its use cases,” said 21Shares research analyst Leena Eldeeb in an interview with CoinTelegraph.<\/span><\/p>\n

\"21Shares<\/p>\n

Ethereum May Surprise Investors With New Innovative Use Cases<\/span><\/h2>\n

Reflecting on Amazon’s early days, vice president and head of 21Shares’ business unit, Frederico Brokate, said few people could have predicted that Amazon would transition from an online book store to “a global e-commerce and cloud computing giant.”<\/span><\/p>\n

Similarly, the analysts believe that Ethereum could one day surprise investors with new “revolutionary use cases” that have not yet been discovered. <\/span><\/p>\n

In terms of talent, <\/span>Ethereum<\/span><\/a> boasts a much larger pool of people currently working to make the blockchain better, noted Brokate. “By the end of the 1990s, Amazon employed around 7,600 people. In contrast, the Ethereum network today features over 200,000 active developers,” Brokate said.<\/span><\/p>\n

BlackRock Already Using Ethereum To Tokenize Assets<\/span><\/h2>\n

DefiLlama <\/span>data<\/span><\/a> shows that Ethereum currently has over $47.7 billion in assets locked on its network. In addition to this, leading asset manager <\/span>BlackRock<\/span><\/a> has already tokenized more than half a billion dollars worth of money market funds on Ethereum. <\/span><\/p>\n

More recently, the Union Bank of Switzerland also rolled out its own tokenized fund on the blockchain on Nov. 1.<\/span><\/p>\n

\n

If Ethereum is dead, then why are the world’s largest financial institutions launching products on it?<\/p>\n

– Blackrock
– Franklin Templeton
– UBS… pic.twitter.com\/KI9LIAFZ1I<\/a><\/p>\n

— Ryan Rasmussen (@RasterlyRock) November 2, 2024<\/a><\/p><\/blockquote>\n