While I have been successful in cryptocurrency trading overall, the power of the technology offers something much more powerful than short term profit.
While I was originally drawn to the cryptocurrency community through Bitcoin it seems like the more I learned, the more interested I became in other projects and blockchain technology as a whole. I'm not bashing Bitcoin, just simply stating that I believe the power and possibilities of blockchain technology can offer much more than any specific project. While speculating and making trades based on short term price changes was often very successful for me, trading began to seem less important as I learned more about the technology. My positions are currently all long term buy and hold positions, and holding excess funds in USDT. The solutions that blockchain technology has the ability to offer to individuals and businesses alike are much more powerful than any specific token experiencing a major price increase.
Blockchain technology has the power and ability to improve so many services that currently exist in centralized forms, everything from remittance payment service to social media sites can reach their true potential when they are built and run on top of a blockchain. While we have seen relatively few projects that have actually been able to present a practical and efficient solution to a real world problem, we are bound to see a massive influx of new ideas, platforms, and practical applications in the blockchain space over the following years. Regardless of what the first 'solution' to become adopted will be, blockchain technology will likely extend to nearly every industry and could revolutionize the world as we know it.
While there are many current projects that show promise, the enormous recent increase in interest in blockchain technology leads me to believe we will see many new projects over the upcoming year.
While there have always been various venture capitalists and firms who have financed and invested in different blockchain projects, the current level of investment is unlike anything the cryptocurrency market has ever seen before. While the increase in direct investment into tokens has raised many tokens market capitalization and price level over the past several months, its likely that there are more 'behind the scenes' investors than we have ever seen before as well. As institutional investors begin to enter into the cryptocurrency market, they often try to invest in promising projects near the beginning to finance initial development, typically in return for a percentage in the total stake. This is very similar to how venture capitalists operate in the traditional business sector, but the returns for direct investment into the cryptocurrency market could have much greater returns.
While many businesses will likely choose to establish themselves and their business logic on a platform early on, its likely that some bigger firms may even construct their own private blockchains. Big businesses are very likely to pick and choose the parts of the blockchain that they wish to employ, such as utilizing the immutable ledger, but requiring credentials to have access to the ledger. In essence companies will likely experiment with running and maintaining their own private blockchains, but that may not stay practical into the future. While private blockchains aren't what people are accustomed to, they will undoubtedly offer advantages to businesses in terms of reliability, efficiency, and security that they wouldn't otherwise have.
Regardless of what the first blockchain project that achieves mainstream adoption is, I think that blockchain will find its way into many sectors and industries that people didn't imagine it to. I really think that blockchain technology will have the same impact on the financial sector, that the internet had upon news. While the major news outlets are still around, they have had to make serious adaptations in order to keep up with the times. While the internet didn't media outlets irrelevant, the major media outlets have less support and influence than they ever had before. Blockchain technology has the ability to make tasks once only imagined to life, such the distribution and creation of specific token based assets that can represent virtually everything.
Everything from the entertainment, shipping, accounting, financial, and many more will be completely changed by the advancement and development of blockchain technology, and it is beyond exciting to realize that we are all taking part in that. Regardless of the form that blockchain technology originally presents itself to the mainstream, blockchain technology will have a disrupting impact on so many different things, and may finally enable individuals to have an easier ability to live a more free life. While the business applications of Blockchain technology is very easy to see, the power that Blockchain technology holds to grant individuals easier and more access to freedom may even be more powerful. Whether that is freedom from a volatile fiat currency, a social media site profiting off the quality they produce, or gaming platform which offers unfair and disproportionate betting odds, blockchain technology has the potential to enable individuals to take the power back into their hands. The true potential of Blockchain technology is likely not understood by many, but it soon will be.
I really hope that you enjoyed reading, and as always I urge you to leave any comments, questions, input, ect. in the comments below! Thanks for reading and the support!
