The mature cryptocurrency market is the era of "cryptographic cowboys"

Blockchain and cryptocurrency, although long a promising digital solution to many problems with archaic monetary and digital systems, may soon break out of their "Lambo" and "Crypto Bro Club" phases as technologies are recording higher adoption rates.

The recent blockchain week in San Francisco has shown that the long-standing stereotype of the so-called "Bitcoiners," which is a group of geeky hackers and ostentatious playboys, has long since vanished, with the new crowd of bankers and suitably dressed investors, who are quick to realize how far DLT technologies can impact modern systems.

Ripple's recent Swell event is a testament to this, with former US President Bill Clinton highlighting the event as a keynote speaker and discussing the impact of DLT technology on the world.

He discussed importantly the importance for regulators to balance investor protection with reducing fraud while promoting technology growth.

"… you can not apply an old regulatory regime to a new technology … You end up killing the goose that lays the golden eggs," Clinton said.

Michael Didiuk, a partner at Perkins Cole and a former member of the SEC's blockchain division, told the street that regulators and bankers now understand that "this technology is real and is going to be transformative. "

While cryptocurrency and blockchain find more use cases, the industry is maturing

Despite the current bear market of cryptocurrency, the industry has never seen an adoption as prevalent as in recent months.

The roll-out of Ripple's xRapid cross-border settlement system is an example of how cryptocurrencies are finding use cases around the world that are improving current currency systems.

During Ripple's Swell, Brad Garlinghouse, President and CEO of the company, announced that several companies, including Mercury FX, Cuallix and Catalyst Corporate Federal Credit Union, would use XRP and xRapid to facilitate cross-border transactions.

Although no bank uses xRapid, Ripple has already explained that banks would first use their xCurrent settlement system, which uses blockchain rather than cryptocurrency, then progresses to xRapid after seeing the benefits of xCurrent.

Christian Laang, CEO of the supply chain management platform, Tradeshift, talked about the maturity and adoption of the blockchain in these terms:

"The Blockchain is an extremely powerful idea, but it's far from being a mature technology. If people become millionaires at ICO, they are not motivated to create the next generation of technology. There is a little bubble with all the short-ism-ism. "

The idea that Laang seems appealing for easy wealth holds back growth, but it seems that many signs of consumer adoption of cryptocurrency and blockchain have emerged over the last few months in the middle of a booming market. persistent bearish.

Selected image of Shutterstock.