The Key Players In Next-Gen Blockchain Innovations
The blockchain space isn’t the new kid on the block anymore — it’s here to stay. The cryptocurrency landscape is continually transforming, with people implementing new ideas as soon as they arise. The industry has a positive source of pioneers set on going forward, driving development to new heights as often as possible.
The people involved in blockchain and the concept of cryptocurrencies are some of the brightest minds in computer science. Now that blockchain has hit mainstream media attention, people from outside the industry are creating innovations. The future of the blockchain industry is bright, the path altering almost daily. Some of the most groundbreaking concepts are even coming from unexpected places.
Cuomo, New York and Regulation
New York is planning to launch a cryptocurrency task force to understand the market and blockchains as a whole. The bill signed under Gov. Andrew Cuomo intends to spot trends in the cryptocurrency market and predict where the next steps of blockchain will go. Eventually, with this knowledge, New York hopes to start regulating cryptocurrency.
California and Ohio have also started studying blockchains, while the U.S. House of Representatives implemented another task force to investigate financial crimes. The difference with New York is the official attempt at regulating the market, a task others have proposed in the past. Now that blockchain is more mainstream and gaining a sense of respect, regulation won’t be far behind. New York plans to be a leader in this new change.
Benartzi, Bancor and Conversion
The decentralized liquidity network, Bancor, is the leading platform for converting cryptocurrencies instantly. Galia Benartzi, co-founder of Bancor, is now working on a cross-chain protocol called BancorX, which will be the first decentralized cross-blockchain exchange.
Since its launch in 2017, Bancor has processed over $1.5 billion in conversions across more than 120 Ethereum currencies. BancorX will be able to convert Ethereum and EOS, allowing for a broader market. In the future, perhaps all cryptocurrencies will be under a single banner instead of many different types existing, but whether this comes to pass or not, the opportunity for more instantaneous conversions will put more blockchains in the mainstream.
Giancarlo and the CFTC
Christopher Giancarlo is the chairman of the United States Commodity Futures Trading Commission, or CFTC. Giancarlo has submitted congressional testimony in cryptocurrency’s defense. While legislators are generally dismissing cryptocurrency, he warns to not overlook blockchain and the like just because of the appeal to young investors.
“I personally think that cryptocurrencies are here to stay,” Giancarlo said. “There’s a whole section of the world that really is hungry for functioning currencies that they can’t find in their local currencies… Probably two-thirds [of the world’s currencies] are not worth the polymer or the paper they’re written on, and those parts of the world rely on hard currencies.” To Giancarlo, cryptocurrencies are the future for much of the world’s economy.
Adamovicz, Neufund and Security
Neufund is an equity fundraising platform on the blockchain, but works differently by cutting out the middleman. Instead, Neufund is entirely transparent and inclusive, enabling ownership of cryptocurrencies like never before. The security tokens are legally enforceable when paired with real-world assets, so there is additional security and insurance. Co-founder and CEO Zoe Adamovicz drove Neufund to the first successful offering of tokenized equity.
Security is becoming a major incentive for cryptocurrencies to transcend to a better platform, with better regulations and the like. The threat of cybercriminals has become an everyday occurrence, especially while we have all our information and money on the internet. With Neufund’s transparent process and tie-ins to real-world assets, the owner will have more control if the worst were to happen.
Antonopoulos and Consultation
Andreas M. Antonopoulos is a bitcoin advocate, entrepreneur, host of the “Let’s Talk Bitcoin” podcast and author of several successful books. In 2014, he addressed Canada’s Banking, Trade and Commerce committee to answer senators’ questions about how to regulate bitcoin. At the time, he warned of premature regulation, advising the need to understand the currency fully before trying to implement laws.
These days, Antonopoulos does public speaking regularly at Bitcoin events around the world. In a more practical sense, he’s also provided beneficial testimony at criminal trials regarding crypto-security. As one of many experts about blockchain, Antonopoulos can offer much-needed information on how everything works and what the future could bring. In regards to New York’s task force mentioned earlier, experts like him are invaluable.
Blockchains have already caught on and will likely be the future of investing, if not the commercial economy. There are a lot of directions cryptocurrency can take, some including straight into the ground, but the concepts have taken steam and made millionaires out of people already. Regardless of what could be, the innovations are happening today.
Cryptocurrency’s path should fully emerge within the next decade, and the people already elbow-deep in the workings are already influencing what lies ahead.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.