Ethereum has rallied back up quite a lot over the past few days and at the time of writing, it is standing at around $136 (as per www.coinmarketcap.com). Just recently, it was down in the lows below the $100 mark and was struggling to get back up. In order to get a perspective on things moving forward in 2019, BlockPublisher got in touch with a well-renowned name in the blockchain world, Thomas Power. Thomas is currently a board member at BICRA (Blockchain Industry Compliance and Regulation Association).
In reply to the question regarding his comments on ethereum (ETH) rallying back up, he said:
I don’t expect much change or movement in 2019 the real growth in crypto is 2020-2022 when fiat collapses and brands switch their focus to Climate Change and Tokenomics (crypto) incentives to drive and reward consumer engagement related to their products and The Climate Movement (TCM).
As suggested by Thomas, 2019 might just not be the year of cryptos. This world is still in its nascent phase right now. The trust among the general public regarding cryptos is very low at the moment. There are a lot of issues associated with this world that need to be fixed before it moves on to become mainstream in the financial market. A lot of important developments are also yet to be seen such as the establishment of a crypto-linked exchange-traded fund (ETF). Platforms like Bakkt are also likely to help cryptos in the long-run. For now, we will have to wait before such developments are made.
Issues like volatility, liquidity, manipulation, illegal usage etc. have largely marred the reputation of the crypto world. If it is to gain traction in the financial area, these issues linked to it need to be handled appropriately. Now this will certainly require some to time to happen.
Thomas has hinted that the mainstream adoption of cryptos will likely occur after the crash of traditional fiat framework that is currently in place. If the fiat crashes, different organizations will surely look for alternatives in order to sustain themselves and that’s when crypto can kick in. 2019 should be the year of improving the blockchain and crypto world. Notorious issues linked with this world need to be solved as soon as possible if it is to gain long-term traction. After that, the road is easy.
SEE ALSO: Economic Crash of 2020 Will Drive Crypto Trust, Says 9 Spokes Board Member
