The current hype in general towards cryptos have masked the industry’s true usability. There has been innovation in 2017 and 2018, however the scale of advancement in relation to the influx of investments into the industry is severely disproportionate.
Cryptocurrencies have been thrusted into the spotlight fundamentally for what it can do for the world, however the technology’s practical usage is realistically still far from achieving its true potential.
2019 will be defined as the year of action. The past two years of ideas and plans stemming from massive coin offerings that revolve around scalability, proof-of-concept, and other cryptocurrency innovations will finally be executed and materialize into working models of which all of us are able to experience in a highly completed form.
Next year will also see the emergence of a variety of cryptocurrency services and products due to the sheer number of startups that have achieved massive funding in recent times. The general public will be able to make purchases from an increased number of vendors globally within a deeper and enhanced customer experience environment.
The number of authentic users will increase dramatically as these various cryptocurrency applications gain awareness as a convenient and useful tool to have in our daily lives. All of these developments in the near future will increase the utility value of cryptocurrencies to a point at which its durability will finally become undeniable among even the staunchest critics and naysayers.
From a macro point of view, cryptocurrencies will begin to allow loans and relief funds to regions of the world that are not well connected to global finance. What people in developing economies lack is not resources, discipline or motivation, it’s capital.
Rich fields that are unplowed because of lack of an ox, wells that go untapped for lack of a shovel. When they have instantaneous access, and once these places are well connected to global capital, these underutilized resources will begin to yield rewards and contribute to the global world economy.
What constitutes to the price of a cryptocurrency? It is the combination of public speculation paired with its genuine utility. Renvale Capital has consistently worked towards building this utility, by increasing the wide-spread use and acceptance of cryptocurrencies among communities.
CEO of Renvale Capital, Will Collins, commented,
“The cryptocurrency ecosystem is still in its infancy and is progressing to the next stage of maturity. I consider the volatility of cryptocurrencies to be an expected component as it moves towards becoming a mature asset class.”