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Crypto Here to Stay


For those of us reading as much as we can about this interesting medium it is easy to become distraught one moment and then wildly excited the next! I am reminded of that famous old story rolled out at sales training courses [certainly in the 80s] about the shoe salesman sent to Africa to determine the potential for selling shoes. His report to his employers was downbeat saying that there was no prospects of success as "nobody wears shoes". However, another salesman might conclude that the potential was massive because "nobody wears shoes!"

For those either nervous of learning about alternative currencies or terrified of what a decentralised system is going to mean for their "highly profitable at our expense" businesses the current news cycle is full of negative commentary, most notably highlighting the falls in value this year. Using the shoe salesman analogy, does this mean we should avoid cryptocurrency altogether or buy in now as it is a wonderful opportunity at really low prices?

Here are a couple of news items you might have missed:

At the recent meeting in Vienna of the EC Economic and Financial Affairs Council the Vice President Valdis Dombrovskis said this, "crypto assets are here to stay" and the crypto market "continues to grow" despite "recent turbulence".

in his speech Dombrovskis paid special attention to Initial Coin Offerings [ICOs] characterising them as a "viable form of alternative financing" and reminding his audience that ICOs generated $6 billion in 2017.

French football giant Paris Saint-Germain is to launch its own cryptocurrency; sports blockchain venture chiliZ backed by many high profile crypto industry players like Binance is powering the new platform. Their CEO Alex Dreyfus said recently:

"We are focusing on onboarding the biggest clubs in Europe and in the coming weeks , we will announce other big clubs joining our platform...our priority is clubs in the UK, Italy, Spain and Germany."

It is curious that stories like these never receive any coverage on the main news outlets - why is that I wonder?

Regardless of the answer it is clear to me that the adoption of Blockchain technology and alternative or cryptocurrency is moving forward at an incredible rate - much like the expansion of the world wide web 28 years ago. We all need to start our journey of exploration!

I will be your guide.


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