bankingciooutlook

Embracing Crypto-currency as it Advances into New Territories

Banking CIO Outlook | Friday, July 05, 2019

Is cryptocurrency growing stronger? That is what the trends suggest!

FREMONT, CA: Cryptocurrency's advent a decade ago had created apprehensions as well as excitement. Today, its valuation has increased, and it has seen increased acceptance, although it doesn't amount to much. How crypto will be in the future is something many try to predict. Here is a take on the potential that crypto carries and the course it will take in a dynamic and technologically transforming environment.

•  Big Brands Welcoming Crypto

Many reputed brands have started eyeing crypto. One can expect the development of crypto services from these big brands in a few years. Although it will take a lot of effort on the part of the companies to overcome regulatory hurdles and incorporate crypto, it has a lot of possibilities given the advantages it has.

•  Stakeholder Working Together

Collaborative efforts between service providers and regulatory bodies can see fast-paced policy formulation. A well prepared regulatory framework with inputs from all the stakeholders, including companies, crypto experts and regulatory authorities will lead to standardization and enable convenient adoption.

•  Better Recognition and Investment Option

The market is yet to see a full-scale introduction of crypto. Once that happens, the acceptance of the currency will rise slowly as recognition would increase. Upon attaining consistency concerning its valuation, people might consider it as a safe and valuable investment option from personal as well as commercial perspectives.

The cryptocurrency market is on the verge of a much-awaited expansion. With tech giants throwing their weight behind crypto, it is only a matter of time before there are progress and success of the currency at all levels. Smaller financial firms which will benefit a lot from crypto opportunities should try to undertake compliance and work together with the rest towards taking cryptocurrency to the next level.

Check out: Cyber Security Review Magazine

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