In less than a month, Bitcoin will turn ten years old. Bitcoin, along with the cryptocurrency market has surpassed several milestones since Satoshi first released Bitcoin’s whitepaper to the public. There are now approximately 17 million bitcoins in circulation, as well as numerous other tokens available to trade and transact with – as of August 2018, more than 1600 cryptocurrencies are in circulation. ICOs have also become an established fundraising method, with the first quarter of 2018 recording a historic high of $6.3 billion – around 118% of the total amount raised in 2017. The Crypto ATM market alone is expected to grow from $16.3 million in 2018 to $144.5 million by 2023, this lends credence to the idea that the way financial transactions are undertaken is bound to shift.
However, even though the industry as a whole has garnered considerable support, it remains fairly controversial. This is primarily due to the lack of governmental regulation, as well as the fear generated by fraudulent scams and illegitimate behavior.
We tend to forget that this is a normal process for every innovative revolution; in fact, the crypto market’s evolution is very similar to that of the Stock Exchange market circa late 19th and early 20th century. At the time, the financial boom occurred so fast that it took a while for proper regulation to catch up. It can be difficult to imagine a time when investment and stock trading markets didn’t exist in the form as we know it now, especially without the presence of institutions such as the SEC and FINRA who now set the rules that help to organize and regulate the sector.
Change is underway as more and more countries are embracing the industry and initiating conversations about future regulation. This holds huge promise for cryptocurrencies, as regulations are strongly linked to a wider acceptance of digital tokens.
At Blockchain.io, we believe that Crypto-Exchanges will lead the way in the new era of how value is traded. The Crypto market holds great potential when it comes to simplifying access to financial payment systems; as such, participation will not be determined by credit history, but by the willingness to access the technology itself. To facilitate ease of access into this new financial ecosystem, we have worked diligently to deliver a product that is intuitive and easy to use for traders, investors, and the everyday people.
We are mindful of the role that Europe can play in helping to develop this industry further. To transform Europe into a credible Crypto hub that can compete with Asia and the US, we need innovative projects that will deliver stellar products and value to advance the growth and innovation of this sector further. That is precisely what we aim to do with Blockchain.io, a new gateway into the era of the Internet of Value. Our goal is to become the leading Cryptocurrency Exchange platform in Europe by 2020 – to accomplish that, we are aware that we must actively build a flourishing community of Crypto-enthusiasts around the world.
We look forward to leading the crypto revolution alongside you. You can join us by participating in our public sale that opens on September 27th!
