[ad_1]
2017 was a year of hype in which cryptocurrency projects such as Initial Coin Offerings (ICOs) and others have expanded on the market and around the world. There were many new projects launched every single day. The market was full of them.
However, 2018 brought reality into space. Projects that were not ready to operate and did not keep their promises when they sold tokens are gone or are simply zombie tokens.
Finance Magnates was present at the Next Block conference in which the future trends of the virtual currency market were discussed. One of the main problems that may occur is related to scammers and scammers.
The market seems to be maturing and long-term companies will shape the new space in 2019.
Celsius founder and CEO, Alexander Mashinsky, commented on investors who left the market during this year:
"We are seeing more sellers than buyers and this is good [development]. We do not want those people. They were not here in the long run, they just wanted to make instant money. "
With the bear market we tested in 2018, new projects will be more cautious when starting a business in space. At the same time, regulatory agencies are starting to take stricter measures against ICOs that are not registered as securities. At least in the United States, the Securities and Exchange Commission is trying to enforce the laws on securities in the country.
Eran Tirer, a former IBM executive, explained that the market has companies that seek funding only using the word "blockchain". However, these projects have not had anything revolutionary or market experience to start offering new solutions to some problems. According to Mr. Tirer, this makes no sense in the long run.
In fact, some of the white papers were copied, there was no clear roadmap about how they would work on the projects, etc.
Aviv Lichtigsten, the founder of blockchain company 101 Blockchains, said companies must start building technology before publishing white papers.
"There must be more working products and fewer documents".
Isaac Thomas, CEO of Vegan Nation, explained that their company is working on a product and a virtual currency rather than thinking of an ICO. In fact, he said they could launch an ICO and raise $ 100 million but they did not.
"But if the coin had lost 90% of its value, in the long run, we would have lost the trust of our community, so we built all the infrastructure and products – things most companies talk about doing two or three years later ICO ".
The event shows that people and investors are tired of hearing promises of massive gains or magical solutions to everyday problems. However, the market will have to become more mature and start offering products with real applications. ICOs should demonstrate that they already have a project and a platform rather than waiting two or three years to build a platform.
It is time to start thinking about a mature space, with more compliant companies and realistic projects on their potential.
[ad_2]Source link
