Crypto could still be the "global currency of the future"

By CCN.com: On the way to Davos, Nasdaq CEO Adena Friedman said 2019 would be a year of upheaval and innovation. Crypto-currencies could still be a global currency if "the tremendous demonstration of genius and creativity" found practical utility.

Pioneer, followed by a dose of reality

Friedman, like others, thinks that the cryptocurrency space has pbaded the first stage of the "life cycle of a clbadical invention," namely:

"Marked by early pioneers, followed by a hype, followed by a proliferation of newcomers, and then a dose of reality."

For many, this dose of reality is a real hitter. More than 400 billion dollars have been removed from the market capitalization of cryptocurrencies. The price of bitcoin has risen from $ 19,000 to $ 3,200. Early investors can still be profitable. Those who have joined the market on the rise should certainly suffer the disadvantages.

I'm at # WEF2019 and look forward to the many discussions this week. This year, I took the time to write my thoughts on the evolution of the market that I am looking at in 2019. # Davos2019 @wef https://t.co/M7dhke2UoN pic.twitter.com/0Wp8EGKErD

– Adena Friedman (@adenatfriedman) January 20, 2019

Cryptocurrencies could be Internet or Segway

The Nasdaq CEO said one of two things would happen. First of all, like on the Internet:

"Innovation finds practical utility followed by years of steady and sustainable business progress and integration into the economic fabric."

Or second, like the Segway:

"The invention is not widely adopted and its commercial applications as a means of exchange are limited."

It's hard to see a sector with billions of investments, tens of thousands of credible startups and sustained progress in adoption, compared to a poor "personal transportation device", even though the Segway was a precursor a technology like the hoverboard.

Nasdaq wants to win investor confidence in cryptocurrencies

Friedman says:

"It's hard to ignore the huge amount that investors, including some of the world's most sophisticated investors, have injected into digital currencies in recent years."

Adding that such a genius invention "deserves an opportunity to find a sustainable future for our economy".

According to her, this will depend on the clarity of governance and regulation, both "opposed" to a "decentralized and ungovernable" motto.

I am so proud of our team in Stockholm as we continue to evaluate and build new innovative technologies for our customers. # rewrite tomorrow https://t.co/ganDzVfKGR

– Adena Friedman (@adenatfriedman) December 10, 2018

According to Friedman, the Nasdaq wants to win the trust of investors in cryptocurrency by implementing its technology and business integrity. The Gemini exchange of the Winklevoss twins uses Nasdaq software. Nasdaq also contributed to Singapore's efforts to settle the symbolized badets and invested in Wall Street's ErisX crypto-exchange. It has also partnered with VanEck to deploy Bitcoin Futures in early 2019.

I do not say that to discourage us. Rather the opposite.

We remain in the "phase of installation" of #crypto (image: https://t.co/8oOws39TaS), where the main users are developers and investors.

There is so much to build and to promise, which is extremely exciting! pic.twitter.com/9pfy5MmJ1k

– Chris Burniske (@cburniske) January 5, 2019

The venture capitalist Chris Burniske also believes that cryptocurrency is going through a normal phase of market development. According to him, Crypto is still in the "installation phase", comparable to the Internet and even the growing success of Amazon.