Steady boom of crypto projects
In an interview with TechCrunch, Brian Amstrong, CEO of the crypto-exchange Coinbase, gave some interesting insights into the world of virtual currencies. It is all about the growth and employment opportunities associated with this new form of currency. In this interview, for example, he refers to the increased number of projects. More and more companies, clubs and organizations are now developing their own tokens and making new projects available. Although he also admits that not all new projects can survive in the long run due to the current hype, the prognosis for the industry itself is very good. He even sees a need for more people and organizations to focus on how to generate and deploy their own tokens.
And indeed, there seems to be more and more projects based on crypto currencies. The hype is definitely there and it is above all the fact that theoretically anyone can set up such a profile, which means that almost everyone does it. Especially in the affine world of the Internet everyone wants to market their own ideas and the hype about the tokens ensures that there are a lot of new projects every month. Armstrong also sees this on its own Coinbase platform, where more and more new registrations mean that there is now an extensive portfolio of the most diverse tokens from all over the world.
Regulation and issues of treatment are the challenges of the present
At the moment, the main reason is that the lack of regulation is a problem for the industry. On the one hand, there is no institution that controls what intentions are behind a new brand and how those tokens have been created. On the other hand, some of the currencies are now less concerned with the original idea of crypto currencies than are much more like the securities of the stock market. Bitcoin is certainly the best example of this, which in recent years has been inferior to a large fluctuation in values and has been used by many as a short-term investment opportunity. But you have to concede to the industry that it has successfully resisted the first impression that it is coming to an end after the problems with Bitcoin. On the contrary, the increasing number of projects and the many new tokens diversify markets.
Coinbase itself wants to reinvent itself in the coming months. In addition to the new tokens that are still being added, various companies have been recruited from the financial world. This would now allow the entry into the real broker business. Customers no longer only have the opportunity to trade the various tokens through Coinbase, but also to avail themselves of other services in the sense of a real broker. Whether the forecasted number of more than a billion people using crypto currencies in the future is really true, but may be doubted. Investors from the western world in particular continue to be regarded as conservative and are probably not prepared to invest heavily in the new market.