Trust: Cryptocurrency, Blockchain & ICOs
Few mega trends have captivated the world as #Bitcoin #crytocurrency #Blockchain & #ICOs in 2017 & 2018. This is true not only in financial and technology geek-dom corners of the Internet, but the general public has seen a frenzy of interest, investment & inquiry on this new emerging ecosystem which threatens to disrupt industries from healthcare to entertainment to retail. How is your company, industry or country preparing for this tsunami of change?
The current "hysteria" is responding to the pricing of #bitcoin which has skyrocketed to nearly $20,000 in 2018 from less than $100 in 2013; setting off a "feeding frenzy" among middle class homeowners seeking 2nd mortgages in order to join the "Gold Rush" of today. The hyper-pricing of bitcoin, one of the first movers in the cryptocurrency in 2010 a mere seven years earlier, has resulted in the most frequent buzz words and hashtags at JP Morgan #JPM18 this year.
This trend reminds me of the "land grab" of the "World Wide Web/Internet" back in the 1990s. At the time, investors, companies and general public all rushed to participate with little insights or understanding of details on how the Internet it worked, but all had appreciation it was going to be HUGE. Both off line and online companies were beginning to heavily capitalized much like today by venture capital, speculators & fraudsters trying to take a stake on the explosive technology.
Most observers believe the fate of specific concurrency are highly risky and volatile as articulated by JP Morgan Chase's Chairman Jamie Diamond, however, most agree even Diamond that the underlying Blockchain technology is real and here to stay. I am sure looking back 5, 10 and 25 years from now we will remark "It was so obvious that Blockchain would be the foundation for all industries online infrastructure ensuring trust, privacy and economical transactions in the future",
What are your thoughts?
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I agree. The crypto currencies fail the medium of exchange test (and are going backwards on this measure) however the blockchain technology itself is definitely going to find a place in the mainstream.
Managing Director at Crystalize Healthcare
7 年I believe that many will get hurt in the frenzy over the next few years but Blockchain is a solid concept and will change how we do business and our personal lives.