WSJ – Bitcoin & Altcoins Largely Usable Only By Developers
According to an article published on the first day of the year by the Wall Street Journal (WSJ), cryptocurrencies and blockchain technology have few tangible uses. The article analyzes the 2017 cryptocurrency bull run and how the price of Bitcoin moved in 2018.
The article claims that Bitcoin and other virtual currencies are currently used only by developers.
The write-up argues
“Bitcoin and the hundreds of other digital currencies that have popped up over the years are still largely usable only by developers.”
The article goes on to say that Ethereum (ETH) offers a less intuitive way than other non-blockchain platforms to develop applications. At the same time, the report points out that no developer kits are currently available for building iOS and Android applications.
Although the WSJ’s overview of virtual currencies and blockchain technology seems to be negative, it admits that institutional investors are genuinely interested in joining the market.
However, this report does not take into account the positive aspects of virtual currencies. The number of addresses in many important virtual currencies is increasing. In 2018, Bitcoin recorded millions of new addresses and the trend appears to continue.
The launch of the Bakkt platform for institutional investors is one of the most interesting things to mark the first quarter of 2019. As soon as next month, the Intercontinental Exchange (ICE) could launch the Bakkt platform, allowing institutional and traditional investors to enter the market. However, the company still needs to clarify the platform’s launch date.
Several initial coin offers (ICOs) were launched on the market in 2018. According to a recent WSJ report, hundreds of cryptographic offers have shown signs of fraudulent activity. That’s why the US Securities and Exchange Commission (SEC) is currently working to control the crypto and blockchain markets more effectively.