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Business Insider recently sat down with Travis Scher, who heads Digital Currency Group's investment, which has made investments into Coinbase, Circle, Ledger, and other preeminent blockchain startups, to talk about his Bitcoin industry predictions for 2019. Among other things, Scher revealed that he expects for 12 months.
Wall Street To Down The Bitcoin Pill
Speaking to Business Insider's Madeline Shi, who has worked in the crypto sector since late-2015, laid out three predictions. First, Scher noted that he expects for 2019 to be a great year for the dichotomy between Wall Street hotshots and crypto assets,
Wall Streeters have lagged behind the crypto trend for years on end, this will change in 2019.
For previous reports from Ethereum World News, Watchful Dollar, Jeff Berwick, told BlockTV, a video-centric crypto media outlet, which he expects to be bitcoin bull run. Berwick, an obvious skeptic of the traditional fiat system, noted that In short, Berwick noted that Wall Street-friendly platforms, like the proposed Bitcoin ETFs, Nasdaq's "crypto 2.0" futures, among others, will "change the game completely."
And these quips are not baseless speculation. While Bakkt, a multi-faceted digital asset platform partnered with the NYSE parent, Intercontinental Exchange (ICE) recently saw its launch get pushed back to "early-2019," the innovators behind the upstart are poised to tackle. For our previous reports, Bakkt, headquartered in New York, acquired "certain assets" and employees of Rosenthal Collins Group (RCG) to expand its risk management, compliance, and other pertinent back-end departments.
The specials of the deal were not the only one of the most important developments of 2019, recently saw at $ 182.5 million check its way from sixteen investors, which included Mike Novogratz's Galaxy Digital, ICE, Microsoft's venture arm, and San Francisco-based Pantera Capital.
Moreover, the municipal government of New York City, purportedly Microsoft, and launched the Blockchain Center in the Big Apple to improve crypto education.
Blockchain Gaming, Non-Fungible Tokens To Mount
Another prediction Scher touted was the arrival of blockchain-based gaming applications and non-fungible tokens. The DCG executive noted that he expects experimentation, along with the adoption of "big hits" in this budding subsector throughout 2019. natures. So, Scher beckoned venture investors to take a real look at this business, stating:
Venture capitalists should be paying attention to those who are building platforms and developers, companies that are not just one
Kyle Samani, the managing partner of Multicoin Capital, has been waiting for the same time, and he awaits the launch of a number of "high profile blockchain products". from both the institutional and retail realm.
Giving an example, he brought up Tari, an open-source venture built on Monero and backed by Riccardo Spagni. With Monero-based code, Tari will be able to facilitate the issuance and management of non-fungible tokens (NFTs), loyalty points, video game items and colossal markets that crypto could tap.
Samani is not only an astute industry insider to think that NFTs will push blockchain adoption. With the rise of in-game items, like skins in League of Legends and Fortnite's V-Bucks, many pundits have agreed blockchain-based NFTs could skyrocket to the top as a viable way to mediate gaming trades / transactions.
Less Funding For Crypto Startups, Funds
Lastly, Scher drew attention to his third and final forecasts, which was harrowing unlike the first two. The DCG top brass member explained that he expects funding for crypto ventures, including startups, projects, and funds, to slow during the first half of 2019, especially as hype exits this industry en-masse.
This will be the case in which we will be able to invest in the Bitcoin-backed hedge funds throughout 2018.
Title Image Courtesy of Chris Li on Unsplash
