2017 was undoubtedly one of the best years for cryptocurrencies and a time when Bitcoin along with many altcoins surged in growth and proved their mass popularity. What’s interesting is that a lot of these digital currencies proved their value in technology too – and attracted so many investors in a short period of time.
So, it is really hard to not be mesmerized about the numbers – especially when you see that the $700 billion market cap has produced a great return on investment. Still, a lot of things have been missing when we see the rise of cryptocurrencies in 2017.
So, the things that we missed past year with the rise of cryptocurrencies include:
1.We did not see mass adoption of the blockchain for enterprise
There has been plenty of talk about blockchain patents in companies like MasterCad and others. However, 2017 did not gave us an official date or any mass adoption of blockchain in companies. According to experts, that is because for many people, the financial and technological implementation is still immature. Hopefully 2018 will be a more ‘mature’ year for cryptocurrencies.
- We didn’t see a clear distinction between blockchain, tokens and cryptocurrencies
Education about cryptocurrencies is falling as we speak. As more people find out about the entire frenzy, 99.9% of them don’t actually understand how blockchain or bitcoin works. Unfortunately, this is enough to block the adoption by many. One thing is certain though – for blockchain to reach its true potential, these distinctions must be made and be well explained to the masses.
- We haven’t seen any self-regulation take hold
Sure, cryptocurrency trading was made official on the Chicago Exchange – but will there be more regulation coming? The SEC, FCA and Swiss FINMA are the main regulatory points that need to make the leap forward. In many ways, self-regulation is one of the most important thing when it comes to Bitcoin and cryptocurrencies in general. So again hopefully we will see or talk about it in 2018.
What are your predictions for 2018? Will this new year bring even more success for cryptocurrencies – aside from their current growth?
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