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2019 Will See the Advent of Enterprise Blockchain Tokens – Blockchain Latest Update

Ajit Tripathi, a partner at ConsenSys, where he handles
global financial services development, as well as corporate venturing and
strategy. He gave a review of the past year and what the New Year will be like
for crypto while contributing an article to CoinDesk.

Bitcoin (BTC) Price Today – BTC / USD

Until June last year, enticing crypto engineers to develop an enterprise product was a challenge. The lure
of digital tokens was rampant. However, many people learned the hard way about
the crypto boom from 13 months ago. Soon everyone in the digital asset
ecosystem will be required to generate fiat profits or revenue in some form.

The Year That Shaped the Regulation of the Asset Class

In 2018, when crypto enthusiasts were not talking about the
drowning prices, the focus was on regulation. Christopher Giancarlo, the
Chairman of the CFTC (Commodities Futures Trading Commission) in February last
year proposed the implementation of a do no harm approach regarding crypto
regulation.

Both aspects of the securities debate were awoken by William Hinman the SEC
(Securities and Exchange Commission) director of corporate finance. This occurred after he stated back in June that
he has come to understand that “the decentralized
structure of the Ethereum (ETH) network and the current offers and sales of the
Ether token are not securities transactions.”

As for the policy front aspect, the European Commission
initiated a way adopting a systematic approach that involved engaging with the
Blockchain community via the European Union and the Blockchain Observatory
commission.

The ICO Issue

The news flow last year was dominated traders and bankers
who were mooning. Many individuals were shocked when they discovered that ICO
was doing badly and because the majority
of the ICOs were launched on the Ethereum
Blockchain, others believed that ETH must be “ded.”
However, this belief was wrong.

All hope isn’t lost in
this episode. Any token that has managed to survive a major boom now will be
massively adopted over the next two decades as the underlying technology
matures and the platforms mentioned here scale. We have not scratched the
actual use cases for the technology. And Ethereum (ETH) is now a leading
platform because of its ecosystem that grows and accelerates steadily.

The Year of Crypto

Joseph Lubin with DevCon4, and also the co-founder of the
Ethereum Blockchain, made his “killer ecosystem” speech for the new year.
However, waiting for the advent of a killer application for the technology may
be seen as a fool’s errand. The reason is that killer apps won’t be killer apps
overnight. The best way is to harness the creative power of enterprises,
developers and investors.

To this day, that may be Ethereum’s biggest achievement. In June last year, South Africa’s Central Bank
while working on the Project Khokha, discovered that a new payment system for
wholesale prices built on the Ethereum Blockchain could process one day’s worth of interbank transactions in only two
hours.

Additionally, SGX and the Monetary Authority of Singapore
announced in September last year that they have developed DvP delivery versus
payment) capabilities to handle the settlement of tokenized digital assets on multiple Blockchain platforms. The
public blockchain space began to make enterprise-friendly fiat tokens at pace.
And finally, 45 stablecoin projects
managed to gather $350 million in funding November last year.


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