In today’s blog, we are going to take a look at a recent survey by Sharepost that may suggest that investors are more interested in cryptocurrency in 2018. Cryptocurrency has had a rough start in 2018, while most are down from their 2017 highs. However, the survey reported that
59 percent of investors and 72 percent of consumers plan to increase their holdings over the next 12 months.
This is really good news for the cryptocurrency economy as most of the users and transactions are coming from the investing section. It was no secret that the top three cryptocurrency coins/tokens that were most likely to succeed according to the survey were Bitcoin, Ethereum and Ripple. (Which are currently the top three cryptocurrencies right now in terms of market cap)
Companies launching crypto related services/products/research
In order for cryptocurrency to be adopted real-world utility needs to exist. Right now hundreds of thousands of products/services can be purchased using some form of cryptocurrency, however, to compete on a competitive level cryptocurrency will need to be accepted by millions of different retailers. The Sharepost study suggested that
49 percent of consumers say employers are planning to roll out Blockchain in the near future.
Even during rough patches, light can be seen when companies are entering the blockchain space to try and innovative and release beneficial services/products.
Tokenizing the Future
This data could possibly show a future in which many different companies roll out their own native cryptocurrency token and that the future could be a tokenized market. Whether the tokens will represent some sort of equity within a particular company/business, function as a store of value, or even a medium of exchange this data has some promising notations. In a tokenized economy people will need to be able to interact with the tokens effortless in order to make the incentive models realistic. This means that exchanges will need to allow users to effortless exchange their tokens with many different trading pairs.
This sort of tokenized world is however many years away and will not be built overnight. More companies need to roll out research plans or even plans to develop blockchain related services/products. Many more years of research will be needed to give confidence to smaller companies and sole proprietorship (the largest groups of businesses in the US are sole proprietorship’s.) Companies like Wal-Mart, IBM, Oracle, and Goldman Sacs are considering or even exploring blockchain technology right now. These dominate companies have the resources to test out the industry, and once the projects are finally present other smaller companies will begin to follow suit.
People using cryptocurrencies
Currently, around 40 million people around the world are using cryptocurrency and at the current rate within the next 7 years, this market could reach 1,000,000,000 people. This, however, cannot increase rapidly if exchanges and storing precautions are not taken. Most people who are early innovators have taken a look into cryptocurrencies, and these are the people that are willing to deal with the uncertainty in wallets and exchanges. The majority of the world will not be willing to enter the cryptocurrency market without an increase in security measures. This is why Oodlebit is dedicated to creating the most secure yet efficient trading platform. Together we can form the best cryptocurrency exchange and invite the next 40 million users to enjoy it with us.
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