Over the last two decades, the internet and technology have made giant strides in the financial sector. With just a few clicks of our qwerty keyboard, we can send money from Mutuo, Tibet to someone in Hawaii. Despite the ease of transaction, it still goes through the traditional financial institutions which act as the clearinghouse. However, there’s a new kid on the block and it’s cryptocurrencies. In a matter of minutes, you can send and receive payments from anywhere in the world without going through the banks. As the year is winding out, there are certain trends you should pick along with you;
- ICO’s are Growing In Scores
Bitcoin comes to mind whenever cryptocurrency is mentioned. Currently, Bitcoin, Ethereum, and Litecoin have established themselves as the big guns. What you may not know is that there are thousands to choose from right now. Let’s just say 2017 is the year of ICOs and you have to know the right ones to pitch your tent with. You should, however, watch out for credible new players such as BullToken which pride itself as a community of crypto savvy investors. Look out for new cryptos like BullToken as they possess the potentials to surpass the success of Bitcoin and Ethereum in the coming years.
- Interactive Coin Offering
This trend didn’t emerge until recently but its effect will spiral into the future. This is one of those trends that will determine the future of cryptocurrency. InteractiveCO protocol is a proposal of two respected voice of the cryptocurrency community; Vitalik Buterin and Jason Teutsch. What InteractiveCO seeks to achieve is a responsible token sale. They argued that there is need to allow mass participation. Many individuals have been converted by the crypto gospel and are willing to invest.
- Other Potentials of Blockchain Technology are to Be Explored
Not until this year, many individuals still confuse Blockchain with Bitcoin. What many do not know is that blockchain is just a platform and Bitcoin is just an application. The technology can be utilized for other purposes. However, 2017 has led many into the exploration of how Blockchain technology can be put to use in areas other than finance. Interestingly, many industries do not want to be outdone in the race for the adoption of the Blockchain technology. Currently, Blockchain is being utilized for security, healthcare, data management and much more.
- Government Will Not Fold It Arms
The successes of ICOs has made government agencies globally to seek to regulate cryptocurrencies. Top of the list is the SEC which has never stop being worried about ICOs. As an industry that operates outside the boundaries of the law, governments are not ready to fold its arms and close its eyes about Cryptos especially initial coin offerings.
- China is The Whale
Even though the Chinese government is clamping down on ICOs and exchanges operating from the Far East, the Asian giant still continues to dictate the pace. Any sneeze from China will affect Cryptocurrencies and will take a bit of time to stabilize. At a point, Chinese exchanges account for 94% of the world total trade of cryptocurrencies. This solidifies the position of China as a whale in the Cryptosphere.