Cryptocurrency has become a goliath seemingly overnight. Though it has been around for more than a decade, it still feels like a new technology of sorts.
Over that time, the blockchain has evolved. It has had an impact across the board, from investors to financial institutions, tech developers to regulators. What has the cryptocurrency market been like and where is it going?
Investors
There is clear optimism from investors in the future of crypto. Looking at bitcoin, the standard bearer for cryptocurrencies, the value only continues to climb. Yes, there are stark falls here and there but it continues to be more valuable over time.
As a result, we are seeing more structure within the industry. More and more established cryptocurrency companies are starting to attract not only individual investors, but more standard financial institutions and even the attention of Wall Street.
Regulators
In the early days of crypto, it had a bit of a Wild West feel to it. There wasn’t much in the way of regulation, relying on the strength of blockchain technology to provide safety and security to investors.
But those attitudes have changed exponentially in recent years. Government regulations have been applied to not only the classification, but the legality and treatment of crypto. Those regulations are evolving at different rates depending where in the world you look.
Tech Developers
With crypto becoming a bigger and bigger entity, there are more resources being applied to the development of cryptocurrency mining. That means developing more exchanges, alternative forms of crypto, and wallet services.
With more and more investors entering the fray, it is up to tech developers to keep up. Which generally means enhancing cybersecurity protocols and technology.
The Future
Figuring out how to evolve with the growth of crypto is key for all parties involved. It means finding more effective ways of delivering platforms while ensuring that any investors, big or small, are receiving the protection and security that they need to be able to trade and sell safely.