To bitcoin adherents, bitcoin and other cryptocurrencies are still a work in progress. Yes, its energy usage is an issue but it’s one that developers are aware of any trying to solve.One blockchain professional I spoke to on Thursday compared the BIS report to saying the world would be in trouble if a baby was put in charge. Babies tend to grow up before they are given any responsibility and crypto developers are hard at work helping bitcoin and other digital currencies grow up.”I don’t think many people appreciate just how early stage this technology is,” Jamie Burke, the founder and CEO of specialist bitcoin and blockchain VC fund Outlier Ventures, told the Blockchain Alternative Investment Conference in London on Monday.Something like 98% of bitcoin’s original code base has been rewritten since it was first created in 2009 and developers around the world continue to work on new ideas, solutions, and technology.Allarie said: “I’m deep, deep in it and I’m a pretty technical person and I cannot keep up. There’s so much. I’m not even close. There’s just so much activity and so much innovation happening. I’ve never seen anything like it, it’s just happening at such a pace.”
If you’ve been reading the crypto news lately, you might have seen that ICOs are getting some bad press in the US, with many people, including regulators, considering them potentially illegal securities and exposing them to heavy scrutiny from regulators.
In a prepared statement to Congress on February 6, 2018, SEC Chairman Jay Clayton said “When investors are offered and sold securities — which to date ICOs have largely been — they are entitled to the benefits of state and federal securities laws and sellers and other market participants must follow these laws.” Strong words from the head of the worlds most influential securities regulatory body.
You might be considering creating your own ICO. Perhaps you have an idea for an innovative blockchain application, or are intrigued by a Kickstarter-like alternative to raise money for your company and / or project. Maybe you’ve heard that raising an ICO is a path to easy money. While this might have previously been the case, if you are based in the US and want to follow all applicable laws, it’s now a much more difficult journey. But it is possible. In the spirit of open source code that is the foundation of blockchain technology, we figured we would share some of our observations and experiences with the world.
While blockchain holds great promise for some applications, companies have to understand the various challenges.
Blockchain is likened to the Internet in terms of its ability to boost a business’s reach and reduce expenses. This has positive connotations, but as a new technology, it’s often misunderstood. Just as companies with no use for the online world sought to establish a website during the dot com boom, a similar pattern is emerging of businesses piling into blockchain for all the wrong reasons.