“Few tangible uses for Bitcoin (BTC) and its underlying blockchain technology have emerged,” as per a Wall Street Journal (WSJ) article published January. 1.
According to WSJ, in 2017 actual crypto development “took a back seat to getting rich.” The article conjointly states that “at the start of 2018, the question was whether or not Bitcoin may live up to the hype of 2017’s wild rally,” and at the end of 2018 the answer was “no.”
Andy Bromberg — the founding father of Coinlist — a platform for running regulatory-compliant token sales, explained that the subsequent step for crypto was figuring out “how we will turn this technology into products for individuals to use.” However, as per the article:
“Bitcoin and also the hundreds of different digital currencies that have popped up over the years are still largely usable solely by developers.”
Developing apps for the Ethereum (ETH) platform is way less intuitive than for alternative non-blockchain platforms, as per the WSJ. For Ethereum, there aren't any developer kits that are presently out there to make an app for iOS or android, thus “building an identical app for the Ethereum platform involves developing a whole suite of tools to connect the app to the platform itself.”
Still, WSJ admits that new institutional investors could get into the area once Bakkt will be launched by the intercontinental Exchange (ICE), the operator of the New York stock exchange (NYSE). As Top Market Group LLC reported yesterday, the launch timeline for the Bakkt Bitcoin (USD) Daily Futures will be clarified in early 2019.
The article states that “despite the entry of some established Wall Street players, scammers abound.” this concept is in line with the declarations of Jed McCaleb — Stellar’s co-founder — who recently said that “90 % of those projects [that aren’t Stellar, Ethereum (ETH) or Bitcoin] are B.S.”
The Wall Street Journal recently reported research in Dec, as per that many crypto offerings showed signs of deceitful activity, improbable returns, and plagiarism.
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