Wells Fargo, one of the four major U.S. banks, recently released a report called “Understanding the cryptocurrency.”

“Digital assets (cryptocurrency) are innovative enough to be comparable to the invention of the Internet, cars and electricity,” the report said.

“Digital assets are a component of the new Internet,” said Wells Fargo Global Investment Strategy Team, who wrote the report. “Digital assets will be accompanied by new possibilities and investment opportunities.”

“Looking back at how the Internet today has changed post offices, music industry, wired telephones, and local news, we can expect how the ‘value Internet’, which includes digital assets as components, will restructure the market. “He added:
However, the digital asset industry explained that there are risks such as strengthening regulations, failure of technology and business, operation such as processing and storage, price volatility, and lack of consumer protection.

In October last year, Wells Fargo invested $60 million (about KRW 72 billion) in Eliptic’s series C investment, a cryptocurrency analysis startup, along with leading venture capitalists such as Softbank, Vision Fund 2, and Albion VC, as well as Japanese SBI Group, Octopus Ventures, Signal Fire, Paladin Capital Group and Digital Currency Group. …
Elliptic, which provides a transaction tracking system on a blockchain network, is a virtual asset analysis start-up based in London, England.
Earlier, Ellipstick succeeded in recruiting $ 100 million (about KRW 130.4 billion) in the series B investment attraction last July.
“We will use it to continue research and development and invest in global networks and teams through investment attraction,” said Elliptic.