Tag: blockchain

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Business & Society

From Tough Stance to Open Arms: UK & Europe Welcomes Crypto

Those of you that are new to crypto should know that the industry has been hurting for lack of regulation for many years. I know! Regulation sounds boring. But it’s needed before the public will accept crypto as a viable asset. Today, I come with good news for Europe.

While countries like Dubai and Singapore have been competing to attract crypto firms, the U.S. has taken a tough stance with increased enforcement actions against cryptocurrency companies. 

Britain wants to become the go-to destination for crypto firms! Prime Minister Rishi Sunak, formerly the U.K.’s finance minister, boldly declared his ambition to make Britain a “global hub for cryptoasset technology.”

And the latest exciting news is kind of funny considering that the general public does not embrace crypto yet. King Charles has given the green light to a bill that empowers regulators to oversee cryptocurrencies and stablecoins in the U.K. This bill, known as the Financial Services and Markets Act, has gone through the final stage and received royal assent, officially becoming law.

The aim of this legislation is to effectively regulate crypto and stablecoins, ensuring their safe adoption within the country. It gives regulators more authority over the financial system, treating all crypto activities as regulated and keeping a close eye on crypto promotions. Payment rules will also apply to stablecoins.

Who’s in charge of enforcing these new regulations? The Treasury, Financial Conduct Authority, Bank of England, and Payments Systems Regulator will soon have the power to introduce and enforce rules in the crypto sector. The U.K. government has been actively consulting on proposed rules since February, with the goal of establishing the nation as a thriving crypto hub.

Remember that the European Union has also made strides in the regulatory landscape. On May 31, they signed the Markets in Crypto-Assets (MiCA) regulations into law. This significant step ensures consistent regulations across all 27 EU member states, allowing approved firms to expand their business with minimal additional paperwork. 

Things are surely picking up for crypto in the European region.

Those of you that are new to crypto should know that the industry has been hurting for lack of regulation for many years. I know! Regulation sounds boring. But it’s needed before the public will accept crypto as a viable asset. Today, I come with good news for Europe.

While countries like Dubai and Singapore have been competing to attract crypto firms, the U.S. has taken a tough stance with increased enforcement actions against cryptocurrency companies. 

Britain wants to become the go-to destination for crypto firms! Prime Minister Rishi Sunak, formerly the U.K.’s finance minister, boldly declared his ambition to make Britain a “global hub for cryptoasset technology.”

And the latest exciting news is kind of funny considering that the general public does not embrace crypto yet. King Charles has given the green light to a bill that empowers regulators to oversee cryptocurrencies and stablecoins in the U.K. This bill, known as the Financial Services and Markets Act, has gone through the final stage and received royal assent, officially becoming law.

The aim of this legislation is to effectively regulate crypto and stablecoins, ensuring their safe adoption within the country. It gives regulators more authority over the financial system, treating all crypto activities as regulated and keeping a close eye on crypto promotions. Payment rules will also apply to stablecoins.

Who’s in charge of enforcing these new regulations? The Treasury, Financial Conduct Authority, Bank of England, and Payments Systems Regulator will soon have the power to introduce and enforce rules in the crypto sector. The U.K. government has been actively consulting on proposed rules since February, with the goal of establishing the nation as a thriving crypto hub.

Remember that the European Union has also made strides in the regulatory landscape. On May 31, they signed the Markets in Crypto-Assets (MiCA) regulations into law. This significant step ensures consistent regulations across all 27 EU member states, allowing approved firms to expand their business with minimal additional paperwork. 

Things are surely picking up for crypto in the European region.

Categories
Business & Society

US Stifling Innovation? China Seizing Crypto Opportunities

The USA is the biggest crypto market with 46 million crypto holders, but unclear rules and regulations are causing crypto investors and companies to leave the country. Meanwhile, China is opening its doors. Crypto! Welcome to China!

 Frankly, the US needs to get its sh.. together before it has created a truly unfriendly environment for innovation. The traditional finance sector and the government are both successful and unsuccessful in trying to crush crypto. Crypto regulation is still being affected by guiding principles that were created in the 1940s… and the first major blockchain Bitcoin was invented in 2009. How stupid is that? No wonder the regulatory crypto environment is a complete mess in the US. Meanwhile, arch-nemesis China, who loves money, has seen an opportunity.

 But China has not always had a passionate romance with crypto. In late 2001, China’s central bank declared all cryptocurrency-related transactions as illegal, which was the strongest move against the digital asset industry thus far. But China has banned cryptocurrencies at least 7 times…

 After considerable political struggles with mainland China, Hong Kong needed to build a business-friendly environment and has opened its doors to crypto trading. In fact, Hong Kong’s treasury chief says that they need crypto regulation, but he insists that crypto is here to stay. He is basically saying “game on” for crypto, and Hong Kong is creating a global hub for crypto.

 It is not yet clear which cryptocurrencies will be available for retail customers on exchanges, but rumors in the crypto community say Bitcoin, Ethereum, Litecoin, Solana, Cardano, and Polygon are likely cryptocurrencies. Is Hong-Kong based crypto exchanges the first step to mainland China?

 Yes, this is bullish news for the crypto industry, but it will take some time for Hong Kong-based exchanges to get approval to open up. Therefore, a “boom-to-the-moon” scenario is not likely in the short term. But Hong Kong adds to a future bull run!

 It’s strange, Chinese policymakers have embraced blockchain as a game-changer, with President Xi Jinping declaring it a cornerstone of future innovation and industrial transformation. Whereas the US president has called for an “unprecedented focus of coordinated action” from federal agencies in mitigating illicit finance and national security risks posed by cryptocurrencies. Regulate through enforcement is the hallmark of US regulatory bodies. This is stupid! Did you know, according to Chainalysis, illicit addresses made up only 0.24 percent of the total cryptocurrency transaction volume in 2022. Say no more…

 Yes, the US is ranked nr:5 in the 2022 Global Crypto Adoption Index and has come further than China which is ranked as nr:10. Western countries would like to think that the US has a brighter crypto future despite the current unclear regulations. I believe so too. I fear the future of a digital China which has complete control of its citizems financial life through a programable coin. The digital yuan is here and should be feared. 

 But US regulatory bodies need to focus more on the possibilities of blockchain technology. As well as to create a business friendly landscape. Not mostly on the 0.24 percent of the crypto volume which is bad. Let’s be smart, instead.

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Business & Society

Understanding the Inherent Value of Bitcoin: A Beginner’s Guide to Crypto

Bitcoin has sparked much debate about its intrinsic value. I seem to have these discussions frequently and I would like to address the most frequent beliefs about crypto and Bitcoin.

Some argue that Bitcoin has no real value, while others believe it has great value. What do I say in this discussion. Does it really hold value?

Bitcoin is valuable because it is a decentralized currency. This means that it is not controlled by any government or financial institution and its value is determined solely by supply and demand. In a world where central banks can manipulate fiat currencies, Bitcoin’s decentralized nature makes it a worthy alternative.

Bitcoin is valuable because of its scarcity. There are only 21 million Bitcoins, and this rarity is similar to precious metals such as gold. The more people accept bitcoin, the more its scarcity becomes apparent and its value increases.

Bitcoin is valuable because of its utility. It can be used to purchase goods and services, and can also be used as a store of value. This means that people can hold onto Bitcoin and watch its value rise over time, just like investing in stocks or other assets.

Bitcoin is valuable because of its security. The Bitcoin network is based on blockchain technology and is highly secure and difficult to hack. This makes Bitcoin a safe and reliable way to transfer value, adding to its value proposition. After all, Bitcoin is valuable because it is a global currency. Unlike fiat currencies, which are tied to a specific country, Bitcoin can be used anywhere in the world. This is an attractive option for frequent travelers and those doing business internationally.

In fact Bitcoin hold value for similar reasons as fiat currency. Belief!

Like fiat currency, Bitcoin’s value is based on belief and trust in the system. Fiat currency is backed by government commitments to recognize it as legal tender and to regulate its supply and demand. Basically, it’s about belief in politicians and the governmental and financial system. Similarly, Bitcoin’s value is based on belief, but on the belief of a decentralized system that it will continue to be widely adopted and will continue to function well.

But crypto is super volatile! Right?

Like fiat currencies, Bitcoin’s value is also influenced by market forces such as supply and demand, geopolitical events, and investor sentiment. Due to these factors, both fiat currency and Bitcoin experience fluctuations in value. But yes, crypto may be seen as a higher risk than stocks depending on what you invest in. Yet, Bitcoin is the highest performing asset of all 2023 according to JP Morgan. Infact, the highest performing asset the last 12 years.

So there we have clear reasons why Bitcoin has inherent value. Its decentralization, scarcity, availability, security, and global nature all contribute to its value proposition.

We all have different tolarance of risk and volatility is in the eyes of the beholder.

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Business & Society

Avoiding Emotional Investing: Lessons Learned from Past Mistakes

I know it can be tempting to make quick decisions, especially when you see a hot crypto or stock on the rise, but trust me, patience is key to making smart investments. In fact, MagnifyMoney survey found that 66% of investors have regretted an impulsive or emotionally charged investing decision. Emotions can be a significant factor in investing decisions. By recognizing and managing your emotions, you can avoid making impulsive decisions based on fear or greed. I think you can relate!?????

This approach is a recipe against the dreaded fear of missing out (fomo).

When it comes to investing, you shouldn’t rush it. Doing your research is crucial before making any decisions. Take the time to study the market and the company you’re interested in. Don’t just go with your gut feeling or a hot tip from a friend. I learned this the hard way when I made a swift move and invested in Rain Maker Games at the top of the 2021 bullmarket. I did no research and was lured by the dramatic price upswing. Let me tell you, a crypto bullmarket is sexy and can certainly entice you to invest. Turns out, Rain Maker Games dropped by 99 percent. But I tell myself that I have not lost anything unless I sell the token. I have also bought crypto after drinking wine… Apparently, I am not special even if my mom says so…. 32% of investors have traded while drunk according to a study by MagnifyMoney.

I believe that we need to be slow when investing to reduce the impact of emotions. Avoid investing on a green day. We all get caught up in the hype of a hot asset or panic during a market downturn.

But by taking a more measured approach, we can avoid getting swayed by short-term fluctuations.

It’s like they say, “Invest in the company, not the stock price.”

Now, when it comes to selling, that’s a different story. We can benefit from acting fast! If an investment isn’t performing well, it’s best to cut your losses and move on. Don’t hold onto a sinking ship, hoping it will eventually turn around.

On the other hand, if an investment is doing really well, don’t get greedy. It’s tempting to hold onto it and hope for even more gains, but that’s a risky move. Markets can be unpredictable, and what goes up can quickly come down. So, when I see a significant profit on an investment, I try to sell some of it to lock in those gains. It’s a safer strategy, and it ensures that I don’t lose everything if the market takes a turn for the worse. Profit is profit, regardless of its size.

I have heard multiple times in the crypto space that investing is all about patience, discipline, and a solid strategy. But sticking to a strategy can be difficult. Sure one can buy and hold an asset for years and be a truly successful investor. Not selling is also an action.

However, I remind myself to take my time when investing, do the research, and avoid getting caught up in emotions in an ongoing hype. We need to give ourselves at least a day or two and step out of the hype bubble before deciding what to do. In a 2020 survey conducted by The Harris Poll, 72 percent of American investors said that current events and news influenced their decisions. Obviously, staying up to date is good but always reacting is not.

But, when it’s time to sell, act fast and stick to the plan that you decided on. With this approach, you’ll be on your way to making smart investments.

The problem with this approach is that it’s obvious. In a way it’s too simple. Therefore I fear that I will not be able to take it seriously.

But I believe its valuable to remind ourselves and friends of our tendencies to falter when investing turns emotional.

Do you have an investment strategy or do you wing it?

Please share your knowledge and lessons.

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Business & Society

Blockchain Technology is Improving Healthcare: Changing the Game for Professionals

As a health promotion professional, I understand firsthand the challenges we face when it comes to managing and sharing patient data. That’s why I’m excited to share how blockchain technology is revolutionizing the way health data is managed, secured, and shared between healthcare professionals and patients.

Data Security and Privacy

One of our biggest concerns is the security and privacy of patient data. We handle incredibly sensitive information that must be protected from cyber-attacks, data breaches, and unauthorized access. Blockchain technology offers a secure, tamper-proof platform for storing and sharing patient data. Each block in the chain is encrypted and verified, ensuring that the data cannot be altered or manipulated. This provides us with the peace of mind that comes with knowing our patients’ data is protected.

Interoperability and Data Exchange

Another challenge we face is the lack of interoperability and data exchange between different healthcare providers and systems. This leads to inefficiencies, errors, and delays in patient care. However, blockchain technology can facilitate the exchange of health data between different providers and systems, regardless of their location or platform. This can improve care coordination, reduce duplication, and enhance the quality of care for our patients.

Patient Empowerment and Engagement

Blockchain technology can also empower patients to take control of their health data and engage more actively in their care. Patients can use blockchain-based platforms to securely store and manage their health data, track their health outcomes, and share their data with us. This can improve patient satisfaction, enhance patient-provider communication, and promote patient-centered care.

It’s not a fantasy…it’s happening!

I work with health promotion in the healthcare setting and see the fast-growing trend of self-generated personal data from health apps and wearable sensors, among others. It is clear that this type of data can be used to develop both preventive measures and treatments. Sure, it’s still early and I have to explain what a blockchain is when I talk about it in my professional position. But the tech is here.

Karolinska University Hospital in Sweden is exploring how blockchain can be used for more secure management and sharing of personal health data within highly specialized care.

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Business & Society

Crypto and the Fourth Industrial Revolution: What to Expect

I’ve been watching the growth and development of cryptocurrencies, and it’s truly been awe-inspiring to witness its rapid evolution. However, the crypto world, like any technological shift, is far from perfect and has to numerous challenges to overcome.

For example, the Bitcoin network is often struggling with scalability issues, resulting in slow confirmation times and high fees during periods of great network demand. Additionally, the crypto space is vulnerable to bad actors who take advantage of weaknesses for their own financial gain. In 2022, North Korean-linked hackers made off with $3.8 billion in crypto, while two nerds created a Ponzi-scheme and defrauded investors and laughed all the way to the bank.

For crypto currencies to reach their full potential and be widely adopted, they need a robust infrastructure to support them. This includes secure and reliable exchanges, user-friendly and safe wallets, and efficient payment systems. Clear regulations are clearly necessary to protect customers and prevent illegal activities.

I understand that the crypto space can be confusing and intimidating for many people, but it’s crucial that we educate ourselves about the benefits and potential of crypto currencies. By being proactive and taking measures to prevent problems, we can be more efficient and less prone to making costly mistakes.

The crypto world is still in its early stages of development, and there are many challenges and risks that need to be addressed. However, with proper security measures and regulations in place, the potential for crypto currencies to transform the financial landscape is enormous. Investors should be proactive and well-informed when making investment decisions in this space and prioritize the protection of their assets.

There are also societal consequences of disrupting technologies that are important to consider.

For example, the fourth industrial revolution, with its focus on automation, artificial intelligence, and blockchain technology, will likely result in changes to the job market. While it’s impossible to predict the extent of these changes, it’s crucial for workers to be proactive and prepare for a rapidly evolving job market.

In conclusion, the crypto revolution presents both challenges and opportunities. However, I think we need the shitstorm of difficulties before we can expect to have a solid product. Remember, crypto currencies are not a final product and hundreds and thousands of developers are working on each blockchain. The blockchain business is a process affected by the vision of the coin, laws, regulation, crime, customer needs and dreams of profit. I consider it a space to learn from.

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Business & Society

Crypto Rescues Bored Swamped Professors and Shows Big Pharma How Research is Done

Key takeaways: Crypto breaks through traditional borders in research and offers a helping hand to professors in dire need of funding and innovative solutions. Decentralized Science, is a revolutionary concept that democratize the scientific process where unconventional ideas can blossom.

Traditionally, scientific research has been the domain of large institutions such as universities and corporations. In many ways, traditional central institutions of knowledge have a monopoly on research and knowledge. Research is largely conducted and kept within the academic space and important reports and articles are hidden behind paid walls of academic journals.

Anyone involved in health research knows how difficult it may be to find funding for a research project about rare diseases and mental health conditions. Interdisciplinary research that often requires a long-term study is also hard to finance. The academic space can be brutally tedious and boring. Research is suffering from a sad case of stiffness and bureaucratic structures, formal guidelines, and time-consuming proposal processes. Professors feel stuck in a swamp of paperwork.

Here’s the solution!

Decentralized Science, or DeSci for short, is a revolutionary concept that aims to democratize the scientific process.

Think of DeSci as a form of crowdfunding and sharing research data in a secure, collaborative and accessible way, with or without the use of traditional research institutions.

One of the key benefits of DeSci is that it allows for a more democratic distribution of funding. Rather than relying on a small group of centralized institutions to provide funding, DeSci uses a token-based system where anyone can contribute and invest in scientific projects. This not only provides researchers with more funding options, but also allows for a more diverse group of people to contribute to scientific research.

Another benefit of DeSci is that it enables researchers to share data and collaborate on projects in a more efficient manner. Using blockchain technology, researchers can easily and securely share data with other members of the network, without the need for intermediaries. This allows for faster, more efficient data sharing and collaboration, ultimately leading to better and more impactful research.

For the reader who wants to dive deeper in DeSci, Molecule Protocol is an innovative solution worth taking a look at.

More reliable research with Desci

Cherry-picking results, hypothesizing results after the results are found, and adjusting the analysis after the results as well as outright fraudulent practices in research are a major problem. DeSci may be a solution as the research data that is stored on a blockchain is immutable. This is achieved using smart contracts, which automate the process of recording and verifying research data on the blockchain.

In a world where centralized institutions have long held a monopoly on knowledge, DeSci offers a new paradigm for conducting and sharing research that is more open, transparent, and inclusive. Sharing knowledge is beneficial for society and DeSci research is not hidden behind a paid wall of a fancy journal.

Decentralized Science has the potential to make the research setting happier and more community friendly. Stiff competition between research institutions can be turned into a collaborative environment.

Trust in big-pharma is not peaking after the covid-19 vaccine saga, and a token-based solution along with blockchain technology can even increase trust in big pharma as its a tamper-proof way of conducting research. Whatever! Who cares about the trust of big pharma?

Most of all, a public infrastructure for funding will lead to important findings that do not (always) follow the infamous money trail.

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Business & Society

4 Industries that Must Use Blockchain Technology – or Suffer the Consequences

Where blockchain technology is most disruptive is the industry that can benefit the most by this emerging technology. The global financial services sector is worth approximately 20-25% of the world economy and traditional financial businesses are winners when they are using blockchain technology. This technology which is a key component of the fourth industrial revolution can facilitate cross-border payments and an entire decentralized, bank free, financial system is being built. But even the biggest traditional banks regard blockchain technology to be a key component to improve their business.

The enormous global supply chain management industry (worth USD 16.64 billion in 2021) will blossom by using blockchain technology. Blockchain technology can improve the transparency and security of the transportation process and increase efficiency of services. In fact, the entire production process including details about the product and its delivery can be tracked, traced, and validated by a blockchain. This technology ensures that data is not tampered with which increase trustworthiness of the goods and of the cargo company.

A clear winner by using blockchain technology is the medical sector that can use blockchain technology to create secure systems for storing and sharing medical records. To improve public health, medical establishments and governments should seriously consider using blockchain technology to improve the efficiency of healthcare delivery. Any medical staff would argue that one system for the entire medical sector will increase efficiency of treatment and decrease administrational costs. 

Moreover, governments and authorities are using blockchain technology to store and verify digital identification information and to deliver a digital monetary system. This is the biggest area in which blockchain technology may be a severe cause of concern as digital identifications and digital money may infringe on privacy if not properly constructed and managed. But using blockchain technology for digital identification and e-money will be inevitable components of the future and doing it right will be crucial.

Businesses that do not embrace blockchain technology will suffer from less effective, more costly, and less secure services. Traditional cargo companies will be less effective and therefore lose market share to competitors who are evolving and up to date with technology. Public health will suffer due to ineffective healthcare, and problems of lack of financial inclusion will continue. Moving away from paper fiat money and into e-money is a must to function in modern society and blockchain technology is the solution. Businesses will go bust for not following the trend of digitalization of society.

The digital future is already here and only the tech-savvy actor will enjoy the fruits of keeping up with the fourth industrial revolution.

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Business & Society

Why Big Money Get Crypto Mostly Wrong

Things are not as they seem in the investment world. We have a false image of the greatness of venture capital. What is behind all the failing crypto projects and why can’t even venture capital get it right?

In essence venture capital (VC) is a company or investment firm that provide financial support to small, emerging companies with the potential for significant growth. Usually, a venture capital firm get a stake in the company, and they provide additional resources like management expertise and industry connections to help the company succeed. At first glance it sounds like it’s a given success for a small company when they get support from a venture capital firm. It’s a Dragons Den scenario in many ways. However, the success rate of venture capital investments is notoriously low. In fact, 63% of startup failures occur in the tech industry, and 75% of venture capital-backed startups fail. Being successful in business is difficult even with capital and know-how. Blockchain companies face an even tougher road to success.

Since Bitcoin was released the staggering amount of 80,000 blockchain projects have launched. However according to the China Academy of Information and Communications Technology only 8% of them are still active and the average lifespan is only 1.22 years. Gartner estimates that only 5% of blockchain projects make it to production, and 90% of those will need to be replaced within two years to remain competitive. The statistics give us a sobering view of the crypto industry. We can easily conclude that it’s smart to invest in the biggest crypto projects that have been around for multiple years.

But what are the reasons why blockchain companies struggle?

Firstly, the industry is in an early-stage and lack of adoption is a problem. Many crypto companies are struggling to guide themselves in an unclear regulatory setting. In the US, crypto companies can suddenly be dragged into court by authorities for unclear reasons because the regulatory landscape is still being created. Intense competition between crypto companies is another reason for projects failing. The crypto space is difficult to predict as its still in many ways hype driven and not only the most sound and useful coins win the market race. Funding issues and technological difficulties are also a significant contributor to the fail rate of crypto companies. Few companies survive the freezing cold crypto winter that we are in the middle of. They are forced to cut spending when markets are down, and venture capital is in many ways the only way to succeed. Another likely reason for the huge fail rate in the crypto space is that its surprisingly easy to launch your own crypto token and many unserious people are eager to get their hands on some crypto cash. There are thousands of poop coins that really stink. However, building a solid crypto project that stand the test of time requires a high level of skill and knowledge and is a time-consuming process. No wonder that most crypto projects fail.

It may seem crazy, but venture capital firms continue to pour billions into the space and clear regulatory guidelines are being created. Most money will clearly be lost but some companies will win big time. Clearly even big money gets it wrong when it comes to crypto investments.

No wonder it’s a high-risk and high-reward game.

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Business & Society

Crypto’s Crazy Way to Adoption

Things have always been crazy in crypto, but not this loud. Now days even my 80-year-old neighbor have heard about recent crypto crashes. How did we get here and what does the road to adoption look like?

KEY TAKEAWAYS

· Bitcoin grew up as an outcast and a joke. Until its technology disrupted the financial world. The ride to full adoption is turbulent, but crypto is here to stay.

Bitcoin was born after the global financial crisis in 2009, but without a buzz. In fact, all we heard from Bitcoin were crickets. The jaw-dropping blockchain technology of Bitcoin was ignored. The first time we heard from Bitcoin was when a guy bought 2 pizzas for 10,000 Bitcoin on May 22, 2010. It took three years before Bitcoin started to have some traction across the world.

In 2013, The city of Vancouver opened the first Bitcoin ATM and Germany considered Bitcoin as a financial instrument, but not e-money. The US Drug Enforcement Administration were busy seizing Bitcoin for the first time in 2013. Plenty of shady people used Bitcoin for transactions without understanding that every transaction is transparent and law enforcement agencies started having an eye on the blockchain. Various Bitcoin payment processors set-up business and crypto exchanges emerged, and things were picking up. Then in 2014 the world’s largest exchange Mt. Gox was hacked and filed for bankruptcy. Since Mt. Gox handled about 80 percent of the world’s Bitcoin transactions most people thought the crypto industry was dead. Bitcoin became a joke and people started to refer to Bitcoin as magic internet money.

Bitcoin is ‘probably rat poison squared’

The fight against crypto went viral as headlines in media read: The Great Bitcoin Scam, You’d be Crazy to Actually Spend Bitcoin, Warren Buffett said that Bitcoin is ‘probably rat poison squared’. Since blockchain technology eliminates the middleman in economic transactions traditional banks started spreading fear, uncertainty, and doubt about Bitcoin. Meanwhile they quietly started stacking up on Bitcoin themselves. Now days, major banks use blockchain technology to increase the speed and efficiency of transactions.

Bitcoin has had dramatic mood swings up and down in a four-year cycle. At the top in 2021 one Bitcoin cost almost 70,000 USD before falling to 16,500 in 2022. However, if we look at the Bitcoin price since its birth no traditional asset beats its increase. The price of Bitcoin will likely continue to be volatile until the traditional finance sector fully embraces it.

In 2022 the craziness continued. TerraUSD , Celsius and Three Arrows Capital crashed. Then the world’s second biggest exchange FTX kick the crypto space in the nuts and laughed when they bought real estate with customer funds. Then they filed for bankruptcy. The contagion of the FTX crash is still a major concern for other exchanges and crypto lenders who owned the FTX token FTT.

Currently the war on crypto has turned its focus on the greatest problem that really has nothing to do with the groundbreaking technology of blockchain. Lack of regulation fosters criminal activity and the biggest investors from the traditional financial sector are still on the sideline waiting for regulatory clarity before investing fully. Nation states have not been able to keep up with the fast pace of digital technology. Crypto will not be adopted by the public for years to come.

So, there we have it folks. The road to public adoption of blockchain technology is rocky to say the least. Disruptive developments in society seem to follow a path.

Gandhi said it best “First they ignore you, then they laugh at you, then they fight you, then you win.”

In the end, the good of crypto will win if we are willing to have a grown-up debate and a healthy look at the vast opportunities of crypto currencies and blockchain technology. The tech is clearly steadfast and a part of our future.