Blockchain and Cryptocurrency 2019 Predictions – Vol. XIXbr>
We continue our series of predictions from the industry’s thought leaders on what may happen in the coming year.
By almost any measure, 2018 was a challenging year for the blockchain/cryptocurrency industries. Beyond the usual issues facing young businesses in hiring, marketing, technology and financing, companies were engaged in a crisis of confidence with investors, as the crypto markets lost 80 percent of their overall value from the beginning of the year.
Add to that the magic fountain of funding caused by the curtailing of initial coin offerings, increased government scrutiny and outright bans of certain activities, and the bitter battles between technology developers that caused market gyrations, and it’s amazing that any company survived such severe headwinds.
But heading into 2019, the survivors of this industry wide winter are showing faith in the underlying technology of blockchain and the continuing promise of cryptocurrency. They point out that institutional investors are still on the sidelines, and many retail backers are still not in the game in any huge way.
Add that to the continued interest of big businesses and the spirit of innovation shown by blockchain and crypto pioneers, and the story looks a lot brighter than mere numbers would suggest.
Block Tribune asked thought leaders in the industry for their takes on what may happen in the coming year. Now through the end of the month, we’ll spotlight their thoughts on what may happen in what all hope will be a happy and prosperous 2019.
Phoenix Choi, CEO & Co-Founder, Infleum
BLOCK TRIBUNE: Have recent crypto plunges affected your outlook and/or plans for 2019?
ANSWER: The recent cryptocurrency plunge has totally been great for us, because this means that we can take our time to really create a community that believes in INFLEUM. We have added more roadshow events to our plans and outside our current roadmap that we are sticking by with, we will meet and garner private and individual investors to strengthen INFLEUM’s role in the market.
BLOCK TRIBUNE: What event would you like to see happen in 2019?
ANSWER: For INFLEUM, from 2019, we plan to accelerate the development of the full platform with the blockchain-based compensation engine.
In general, as the blockchain is understood regionally and globally, national and international regulations will be placed. I think this will stabilize the market and financial products for fiat currencies like ETFs are expected to enter the cryptocurrency market, which would be really neat.
BLOCK TRIBUNE: Is the ICO dead as an effective fundraiser? Why or why not?
ANSWER: Amount of funds raised from ICO’s around the world in September is 89.5% less than January 2018 which shows the recession in the ICO market. This may be due to the number of ICO’s dropping 73%, however the number of industry-led reverse ICO’s have increased. We can see that start-ups were leading organizations hosting ICO’s up till now, but corporations have announced ICO’s starting in 2019. These bigger companies will introduce blockchain tech into their processes and will discover efficiencies that will lead to price reduction, fraud prevention and market expansion.
I also expect that exchanges will have a larger role in ICO processes. By combining ICO process with decentralized autonomous organizations (DAICO process), investors will have more power in project decision making and will be able to get refunds when project does not satisfy its promises.