The crypto-currency market witnessed a huge bull run in 2017 with Bitcoin touching $20,000. However, Since Mid Jan 2018 to June, it seems people have lost interest in the crypto markets.
Please provide your thoughts, opinions, data etc on how you see the future of Crypto currencies.
Dear Bhaskar,
It is true that the future of cryptocurrency is uncertain yet and depends on many factors, such as, legal and regulatory framework, cybersecurity, exchanging cryptocurrency to real money, etc. However, there are important events and conferences going on this issue.
For instance, there is an important symposium that will take place very soon (6th Crowdinvesting Symposium Blockchain and Initial Coin Offerings, 20 July 2018, Max Planck Institute for Innovation and Competition, Munich, Germany).
Please find attached the full program in PDF format and the weblink, where one of my coauthors will be presenting a joint paper on Blockchain and the future of securities exchanges.
The symposium offers academics and practitioners platform to exchange ideas about the latest developments in this field, including, but not limited to, new legislative proposals and legal reform projects.
Weblink:
https://www.ip.mpg.de/en/the-institute/events/6th-crowdinvesting-symposium-blockchain-and-initial-coin-offerings.html
Best Regards
Prof. Dr. Mazin A. M. Al Janabi
Full Professor of Finance & Banking and Financial Engineering
Tecnologico de Monterrey, EGADE Business School,
Santa Fe Campus, Mexico City, Mexico.
Charbel Chedrawi - what are your views on the following?
1. As long as people know how to make money out of thin air And use speculation to their advantage, Crypto currencies have a room to exist.
2. As long as money laundering by uber rich exists, cryptos may exist.
3. If people stop believing in its potential then it will collapse.
will that happen in the near future is my question ?
Good futuristic question. There is a future for crypto currency. However, it should bring within legal framework and there should be some regulator/s to regulate the dealings. Otherwise it may become a sources problem and facilitate money laundering.
Crypto currencies fate is with emerging economies such as China and India. The regulators of both the countries declared Bitcoins and other crypto as illegal. Hence crypto will lose demand and it will have impact on its valuations and existence become question mark.
With all the work that has been done on various crypto assets, the future looks bright.
Bitcoin (not asset backed cryptocurrencies) is nothing more and nothing less than unlicensed gambling. Instead, central bank cryptocurrencies -- digital regular money issued by government -- will lead change.
Details are in my book: Bitcoin: The Mother of all Scams. https://www.amazon.com/gp/product/B095NMLM2F
The future looks murky and depends on government interventions, especially the introduction of digital currencies to central banks, which are still in the experimental stage.
Given the current scenario, do you wish to revisit your responses? Personally, I feel that the generations to come will laugh on us in disbelief that we used to use fiat currency at one time. It is hard to imagine a future without Blokchain based currencies (obviously in a modified form).
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