The Journey Of Cryptos Toward Mainstream Adoption
As 2018 nears the end, institutional investors are seen as the next big thing.
Will 2018 Change The Crypto Industry?
Over the last few years, the cryptocurrency and blockchain industry has witnessed a number of changes. New products are sprouting frequently. For the industry, 2018 was seen as the year when cryptos would be adopted by the mainstream sector. The hope was propelled by the 2017 bull run witnessed towards December.
The issues around cryptos have always been around scalability and the uncertainty surrounding regulations. Many want to know if the global economy will eventually dive into the cryptocurrency sector.
On the side of regulations, there seems to have been some progress. The SEC has been involved in coming up with a number of solutions to establishing laws for the industry. The US, Congress is now involved in the regulation aspect with tokens being the main target. The issue will only be fully solved after developers prioritize sharding.
In terms of culture, 2018 has witnessed a cultural shift in regards to cryptocurrencies. Tech giants are now opting for blockchain as a way of developing efficient systems in return inspiring a new generation. Additionally, those opposed to cryptos have faded in their arguments.
A number of prominent traditional bankers are now shifting from the traditional sectors to set up crypto and blockchain firms. Furthermore, students are now taking courses related to blockchain technology with the political class supporting innovations undertaken by the crypto sector. A plethora of research has shown that cryptocurrencies do not relate to other forms of assets. They are therefore ideal candidates for diversification and investment via hedge funds.
Four years ago, bitcoin received a major boost after merchants incorporated the crypto into payment structures. In 2018, institutional investors are now setting their eyes on the crypto sector. Many believe that such investors will have a crucial impact on pushing for the adoption of cryptos on a wider scale.
At the moment, prominent firms are striving to be the first to back cryptocurrency products for institutional investors. The products have been on demand in recent months.
Incorporation of cryptos into the banking sector is a dream that many are waiting for to come true. Some want to have their cryptos paid directly through their bank accounts.
Currently, many are keenly following how 2018 will end. This year has been viewed by many as a decisive period.