Corporations and the Cryptospace: All You Need to Know

2017 has been one of the most significant years in the history of cryptocurrencies. Bitcoin rose dramatically in value, from $1000 in value in January to nearly $20,000 in December. Ethereum has had a similar rise. The token rose from $9.3 in January to $1000 by the end of December. The dramatic rise in value of cryptocurrencies was followed by a dramatic increase in the number of cryptocurrencies on the market. During 2017 dozens of new cryptocurrencies were introduced, mainly by means of an ICO (initial coin offering or token sale) in order to fund their development.

The Present

2018 has dawned upon us roughly 2 weeks ago, and with it there have been profound changes in the world of cryptocurrencies. A recent trend is large public companies announcing an ICO. Good examples would be Telegram, the mobile messenger giant and Kodak, the photography titan.

Telegram plans on creating a currency for their messenger app that can easily be transferred between users. Kodak envisions a shutterstock-esque platform where photographers can be financially rewarded for their photos. Both ICO’s are expected to bring in millions of dollars from the token sale.

The Bottom Line

We will most likely see more large corporations jump in on the cryptocurrency bandwagon in 2018. These companies tend to not really innovate, when it comes to cryptocurrencies and their depth. Usually a big band name is more than enough to guarantee that the token sale will go smoothly. While it is hard to say whether this trend is good or bad, it is something that will expand in 2018.