Samsung, Microsoft, and Other Reasons to Be Bullish On Ethereum (ETH)

Samsung, Microsoft, and Other Reasons to Be Bullish On Ethereum (ETH)

 
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Ethereum’s price is on the rise once more hitting a $190 with most ETH enthusiast’s proclaiming that the Ethereum Bulls are finally back. The token’s trading volume averages $10 billion at the time of press as its market cap stand at $20,776 million. Much of this bullish on Ethereum excitement, however, emanates from the exciting innovation happening around its platform with significant industry players such as Samsung, Microsoft, Amazon, Google, and Intel showing increased interest in the platform.

Leading Global Firms Bullish On Ethereum

Microsoft has, for instance, developed tools that allow the building of Ethereum based innovations via its cloud-based platform Azure. The tech giant’s Azure Blockchain Kit for ETH will work with developers to create apps.  Alongside the Enterprise Ethereum Alliance, Microsoft also launched a kit that helps interested parties to build crypto for their needs.

Enterprise Ethereum Alliance (EEA) Executive Director Ron Resnick explained:

“We are doing this for the greater common good. Standardizing tokens across all networks could hold the key to one of the greatest economic opportunities in modern history.”

Another billion dollar endorsement has come Ethereum’s way from Amazon, the retail giant. Amazon is experimenting on Ethereum with its Amazon Managed Blockchain that the firm says, helps businesses to “create and manage scalable blockchain networks.” The multi-billion e-commerce praised Ethereum’s platform saying that it is “well suited for highly distributed blockchain networks where transparency of data for all members is important.”

Yet again, Samsung, the South Korean mobile and electronic manufacturing giant, is also bullish on Ethereum. According to an insider, Samsung will likely build a mainnet with the source saying:

“Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains.”

The firm, with a net worth of over $265 billion, has decreed its support for ETH via a Samsung Galaxy S10 wallet. Besides, Samsung currently has plans underway to develop its own blockchain which will probably culminate in a Samsung token.

Ethereum as a Choice Launching Pad for Blockchain Projects

The smart contracting platform is a launching pad for some of the most significant crypto projects such as Tron, EOS, and Binance. Ethereum could take the cup for being the wealthiest blockchain platform in terms of diversity and innovation. Known as the pioneer smart contract platform, Ethereum has not only massively improved Bitcoin’s source code, but it has also become the home of blockchain entrepreneurs and visionaries.

As such, it is a to-go platform for companies and startups interested in blockchain but does not have the resources or time that can allow them to start out from scratch. If anything, Ethereum is at the heart of the crypto revolution, and thus it comes as no surprise that forward-looking large firms like Samsung and Microsoft would pick Ethereum, the prime blockchain platform.

With Ethereum becoming such a beehive of blockchain related and heavily funded innovation, most investors bullish on Ethereum hope the spotlight on it will lift ETH beyond the $250. Besides, the transition to Proof of Stake should also increase Ether’s demand since its utility will improve. The network’s participants will also have an incentive to hold Ether.

Ethereum is, therefore, a highly attractive crypto investment looking at the token purely from a price angle. The bullish on Ethereum sentiment could be further fuelled by investors who feel that investing in ETH is also going to benefit the development community and help bring on the dApps domination in the future.