Crypto future uncertain, still its a potential market
May 04, 2018 Posted / 3214 Views
Bitcoin was the first cryptocurrency that was introduced to the world in the year 2009 which completely eliminated the middleman like banks and other Financial Institutions. And avoided the reliance of people on a third party for the payment of value.
It is always presumed that the founders (Satoshi Nakamoto) themselves did not realize the potential applications of the Distributed Ledger Technology in many other fields apart from cryptocurrencies when introduced in 2009. The blockchain technology has potential to revolutionize the way in which many of the industries work, unlike the internet.
After its invention in 2009, another wave of the digital cryptocurrencies hit the market in 2016 when Decentralized Autonomous Organisation (DAO) was formed. It was this particular organization who put forth the idea of integration of smart contracts along with the blockchain technology. And also demonstrated the ways in which the blockchain technology can be used broadly.
The year 2017 also saw a huge surge in the popularity of the Bitcoin as well as other cryptocurrencies. Also, the Initial Coin Offerings have become the most adopted way of fundraising.
To be able to see where the industry is heading towards, we must understand the core concepts which makes the technology this noble. There are mainly to core concepts which form the pillars of the cryptocurrencies. The Blockchain Technology and the method of fundraising through the Initial Coin Offerings.
It is inevitable that the Blockchain Technology will experience a huge updation in the coming future. The Technology has either been adopted or has been in talks for adoption by Government, Banks, Financial Institutions, Healthcare, Politics, as well as many other fields.
The big change in the adoption of the Blockchain Technology will be in the already existing commerce and technological companies, contrary to the current trend where everyone is concentrated towards the ICO funded startups. The Blockchain Technology will become something in the near future which would be adopted by already existing huge companies into their already existing businesses.
The future of the Initial Coin Offerings cannot be guaranteed. But since it's huge advantages for the company it is more likely to be regulated faster. As the saying goes,”The straight trees are the first to get cut.”
However many of the countries have shown a positive Outlook towards the Initial Coin Offerings and also have come forward to host them for the institutions. On the other hand, some of the countries have seemed, to completely ban the ICO and some of them being lukewarm
The governments are not to be completely blamed. The cryptocurrency regulations are a result of its own success. Had the cryptocurrency market not spiked from $17bn to $630bn market cap explosively but at a steadier pace. The market bubble wouldn't have caught the eyes of the regulators. The market would have been less volatile and the government also would have taken it lightly.
In a nutshell, the pace at which the cryptocurrency market is fluctuating has made the government difficult to regulate it.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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