Infectious optimism
There has been a lot of hype and hysteria about Bitcoin, Blockchain and Cryptocurrencies particulary as we get close to the end of the year. It really feels like we are at a tipping point where it's about to take off.
- 2017: The Second Era of Bitcoin Begins
- BitPay: Volume Up 1800% as Affiliate Networks Embraced Bitcoin in 2016
- Pakistan’s LocalBitcoins Volume Quadruples In One Week
But measured
Unlike the tulip bubble in 17th centry Holland or the speculative bubble in 2013 for Bitcoin, where peoples expectations ran away, I think 2016 is different. We have seen the maturing of Cryptocurrencies, measured discourse, business models and organic growth.
- Paper explores benefits of sovereign blockchain with central bank issued crypto currencies
- Blockchain in 2017: Do We Know What We Don't Know?
Use cases
Openbazaar, Steemit, Remittance, Store of Value, Smart Contracts. The list goes on and there are many real world applications where Blockchain is a solution to a problem, not a solution looking for a problem.
External events
A lot happened in 2016 which has implications for Crypto. Events have unfolded that provide fertile ground for Cryptocurrency adoption.
Ban on Fiat
There has been a crackdown in countries like India and Spain as well as devaluation in Venezuela
- India’s Currency Ban Could Increase Bitcoin Demand
- India Googles ‘Buy Bitcoin’ as Nation Explores Gold Imports Ban
Pending economic doom
Along with the growth and maturing of Crypto the storm clouds are looming for many economies in the world and Crypto is seen as a alternative investment and store of value which may be immune to the Economic hardships that are looming.
- Scotland Threatens to Leave U.K. If Forced Out of Single Market - Bloomberg
- Trumps Election
- Brexit
- $100 note to be scrapped? Australia to crack down on cash payments
Blockchain Emerges
Fintech companies have distanced themselves from Bitcoin and re-branded their initiatives as Blockchain. I am not that into buzzwords and fluffly language. For me the interesting part are the applications. I don't really care what label is put on it. What Bitcoin and Crypto has given us and will continue to give us is a better, more free, more connected world.
Excitement is reaching fever pitch
It really is beginning to feel like the Crypto revolution is gaining momentum. There has been many articles inflating the my hopes for 2017.
Not only the future of Currency, but of trade, voting, journalism, social media, the Internet......
So what will 2017 bring?
This is what I am eagerly awaiting:
- Steemit to go viral (and exit of beta)
- Segregated Witness (an end to the Bitcoin scaling debate)
- Openbazaar 2 (free trade on the net)
- Megaupload 2 (the killer app to take Bitcoin mainstream??)
- Exodus - more coins and maturing of Platform (a killer app for managing your digital portfolio)
- Seeing "Bitcoin accepted here" at my local shop (more integration into POS devices)
- Plutus app (end to traditional bank cards)
- Rise in price of Bitcoin (this will lead to more stories and exposure in mainstream media)
- Decentralised web - Maidsafe/Storj (growth of applications of the Blockchain)
- More dapps (growth of smart apps based on Blockchain)
- Monero wallet (establishment of this currency as the payment currency of the future)
Thank you for reading this. I write on Steemit about Blockchain, Cryptocurrency, Travel and lots of random topics.
Images have been sourced from https://pixabay.com
If you can buy a house with one tulip bulb, then you can eventually do so with one steem.
Ha ha I hope so.
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