The most recent social media trend is #10YearChallenge, from just posting old images on Instagram it evolved into something that raises awareness about ecological, political and social issues. Today, we will look at #10YearChallenge from the financial world perspective and analyze how digital assets have changed over time.
Digital Assets had a long and interesting journey over the last 10 years. The crypto flagman – Bitcoin, has been among the most significant tradable assets to watch over the last years. From reaching amazing new heights to the recent lows during bearish market, the digital asset industry had its fair share of exciting breakthroughs.
Crypto enthusiasts, investors and activists alike are still calling for greater adoption of digital assets, just like 10 years ago. Recently, they started to actively promote the launch of new financial instruments designed to give new exposure to Bitcoin and altcoins. However, characterizing how digital assets fit into the modern financial paradigm is still difficult, it’s still unclear whether it is a currency, a commodity or maybe digital asset should be regarded as something drastically different from all above. One thing is clear, the crypto market has reached many significant milestones over the years.
Bitcoin in particular, and cryptocurrencies, in general, appeared around 10 years ago and there are 2 significant dates to prove that. On October 31, 2008, Satoshi Nakamoto published the Bitcoin white paper about his revolutionary monetary system and its virtual currency. On January 3, this constitution came alive with Bitcoin Block #0. Also known as the Genesis block, this would provide the foundation for an ecosystem that would challenge our perception of how money is valued and managed in the new digital era. Crypterium dedicated a full article to the Genesis block, which is available here. With the appearance of Bitcoin, the rest is already history.
From CoinGecko via Twitter
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Since the creation of the first digital asset, a lot has changed. Bitcoin went from a relatively unknown phenomenon to being a hot topic in daily conversations with your barber or a taxi driver. Social Media mentions on the topics of bitcoin and cryptocurrencies increased exponentially over the years, Twitter and FB pages of various crypto projects started to appear on a daily basis.
Not only BTC, but the whole market experienced dramatic changes. Loads of new currencies appeared, most notable and significant ones being Ethereium, EOS, Ripple and LiteCoin. Numerous other crypto-related events include the appearance of ICO/STOs, Exchanges (decentralized or centralized), forks (hard or soft), and changes in government regulations.
Digital asset industry had its fair share of successes and setbacks over the last 10 years. Let’s try to summarize everything in a few sentences: ICOs showed that everyone wanted a piece of cake and way too many scammers joined the market with the sole purpose of earning money and giving nothing in return. At the same time, plenty of genuine projects with an aim to revolutionize all spheres of our life and offer much-needed services emerged – a good example being Crypterium. Exchange market developed rapidly and has its own leaders now, the current trend is making decentralized solutions and is followed by main exchanges like Binance and Huobi. When it comes to government regulations, the answer is relatively simple. 10 years ago no governments took Bitcoin or crypto seriously, no one even talked about it – now many countries make laws and regulations regarding digital assets, some even create their own cryptocurrencies.
While its hard to fully analyze 10 years in digital asset industry, Crypterium made a deep and comprehensive analysis of 2018 and predictions of 2019, research is available here.
History of Money: New Chapter
10 years ago, no one would have predicted in what state crypto market would be now. Nowadays, however, loads of so-called experts make numerous attempts to make predictions for the years ahead. Among the most popular ones are Bitcoin price being above 100,000 per unit, an appearance of fully decentralized exchanges (Crypterium also made a research on this topic), the increase of liquidity, issues with tax collection as adoption increases, and more government-sponsored cryptocurrencies. It #39;s hard to make any specific predictions when it comes to the digital asset but we will try to make just one – emergence of new card solutions.
Digital assets, along with contactless and mobile payments, are the new chapter in the history of money. Crypterium is looking ahead and wants to combine the two. Currently, the company is working on the global card solution that will include the best from NFC tech and digital asset world alike. The mass adoption of global digital asset cards is one the main prediction for the next 10years.
Digital Assets appeared in 2008-2009 which makes them 10 years old now. There are signs that the industry is maturing however tech behind it is still relatively new. Well, cycles are shortening and this means that when you will see an article with the same title in 2029 the crypto market might already dominate the financial and payments world.
Crypterium is one of the most promising fintech companies, according to KPMG and H2Ventures. We are building a mobile app that meets the banking needs of the digital assets era.
Our goal is clear: with Crypterium, whatever you can do with traditional money you will able to do with digital assets. This idea is supported, among others, by the co-founder of TechCrunch Keith Teare and over 400,000 registered users, and the number is growing by day.
The team is led by former General Manager of Visa Central amp; Eastern Europe Steven Parker, and C-level executives from global financial institutions, like Renaissance Insurance, London Derivatives Exchange, American Express etc.