The interest in cryptocurrency has been in a uprising state recently and it all looks good for the whole crypto space. It looks like all news about the excitement in the world cannot be covered, with the the world space is all bullish and more outsiders are already looking through the window with a curious peek and ready to enter the fun.
Just recently Telegram announced the planned launch of its cryptocurrency by the end of the year, though there are different opinion as to the impact of this, many pointing out that what looks like an entrance of Telegram into the Crypto world is not really an entrance and that in fact Telegram has been in already, they are only creating a space for themselves in the room. This may be true because Telegram has been all supportive of Cryptocurrency as Twitter is, almost all Crypto projects have a Telegram group or Channel.
Then in come Facebook, one of the most hostile to Cryptocurrency, Facebook have always decline crypto adverts and pages, being strict on then and banning anything ICO. The news of a planned release of a Facebook currency came as a shock, it was preceded by a sudden removal of Crypto adverts ban.
Analysts are quick to point out the goodness in this, Facebook will now be a Crypto heaven and will be in total support of Cryptocurrencies. Coupled with that of Telegram it looks Crypto is taking over the social media.
Then in come the report of a rise in cryptocurrency interest. Both Google and Alexa reported a huge increase in the search and visit to cryptocurrency related websites in recent months which saw sites like Binance and Coinbase move up the chart of most visited sites in the world.
A march report from Cisco stated that 10% of the World’s Gross Domestic Product (GDP) will be tokenized assets by 2027 and there will be more than $9 billion spent on Blockchain projects by 2021. This will amount to a huge acceptance of Crypto, even countries will start thinking about incorporating or at least regulating crytpo assets and will look to get as many income as possible from its trade and usage.
Remington Ong, a partner at Fenbushi Capital in china which is a venture that invests in Blockchain companies said at “Publicize Blockchain” on May 13, 2019 in New York that he expected to see mass adoption of Blockchain within two decades.
Henry Liu who is a former Facebook employee and now the managing partner of Austin-based YGC Capital says he believes Facebok’s crypto play will threaten Bitcoin dominance and drive mass adoption and that Blockchain as an industry needs to solve real problems first before we see mass adoption. he added that There are clearly several use cases that can be built with Blockchain and many enterprises are starting to implement them.
Its all good with the Crypto space at the moment, more is expected to come in the wave of mass adoption and with the price of Crypto asset consolidating this mass adoption we will hope for more good news.