Ever since the explosive success of Bitcoin in 2013, an ongoing debate about cryptocurrencies is taking the world by storm. Given that cryptocurrency is in its initial stage of development, countless possibilities and opportunities appear promising towards being a vital element of modern life.
According to thenextweb.com, a cryptopreneur is someone involved in setting up a cryptocurrency or blockchain-based business.
The global adoption and acceptance of cryptocurrencies would never have been possible without notable cryptopreneurs who have been present since then and are influencing blockchain's future. Get to know 3x people leading the charge in the adoption of cryptocurrency and the trends they foresee taking place in crypto 2020.
Fintech (Financial Technology) is powered by technology and innovation. Its rise aims to compete with established systems by improving financial services to be more convenient to the public.
Artificial Intelligence (AI) has come a long way and is now benefiting the financial sector. Today, more than half of the banks in the world are either working with a fintech startup or a tech company to build up their blockchain functions.
Major organizations like JP Morgan Chase Bank and Wells Fargo Bank National Association have started diversifying their portfolios into cryptocurrencies. With this, global investment in fintech hit $59.5 billion across 875 deals in 2018.
Fintech has also given way to the rise of blockchain that is said to possibly save banks £9.7 billion a year. From it, about 77% of fintech firms are expected to adopt blockchain as part of an in-production system or process by 2020.
Due to fintech innovations, access to financial products and services such as lending, payments, and even online shopping has never been easier. You can even say that cryptocurrencies are well on their way in becoming mainstream money.
Having almost everything at your fingertips is becoming more and more of a reality today. Cryptopreneurs are currently thrust into the spotlight because of crypto’s progressive trek into mainstream finance.
With Bitcoin being added to the Merriam-Webster dictionary in 2018, cryptocurrencies are starting to be incorporated into our language. There have been a lot of cryptocurrency and blockchain terms coined in recent years for a better comprehension of this new wave of technology.
Cryptopreneur, one of the conceived terms, refers to an entrepreneur who is involved in a blockchain or crypto-based business. The rise of cryptopreneurs has led to a blockchain revolution. This has caused a prediction from the Global Blockchain Market Report saying that the industry will grow to $60.7 billion by 2024.
Cryptopreneurs are striving to build companies and solutions that will help the blockchain industry grow. Meet 3x people leading the charge in the adoption of cryptocurrency below:
Image taken from americanbanker.com
Erik Voorhees is the founder and CEO of the startup ShapeShift.io, an instant digital asset exchange that supports dozens of blockchain tokens. He also took part in the development of KryptoKit, an instant Bitcoin wallet and secure instant messaging system.
Voorhees is a strong Bitcoin advocate, even keeping a large portion of his finances and assets in BTC. He is a strong opponent of taxation. Therefore, he actively involves himself in the development of crypto regulations.
In one of his interviews, he stated that the awareness for cryptocurrencies is high that its mass adoption is soon to follow.
Furthermore, Voorhees openly expresses his opinions about cryptocurrencies as a frequent speaker at related conferences and meetings. Now and then, he takes to Twitter to comment on the ongoing debate in crypto.
Image taken from chaintimes.com
For the most part, Charlie Lee is known as the computer scientist who created Litecoin, one of the top crypto coins in the market. On top of that, he used to work for Google as a software engineer until he left in 2013 to work for Coinbase.
Later on, the cryptocurrency exchange adopted the coin he made. However, he famously sold all of his Litecoin in late 2017 due to a perceived conflict of interest. Since 2017, Lee’s donations have accounted for about 80% of the funding of the Litecoin Foundation where he serves as the current managing director.
He mentioned, ‘We’re all in it together, to be a better form of money than the US dollar or any other fiat currencies out there. And I think, cryptocurrency is a better form of money, but it’s going to take some time before we win that war … We fought a central party and no one can censor crypto transactions today.’
Furthermore, as a direct response to what is going on with the Bitcoin Cash tax proposal, Lee came up with a plan to fund development for the foreseeable future by having mining pools take a share of the block reward out of their own free will.
Image taken from fortune.com
Being one of the earliest investors of Bitcoin, Roger Ver is dubbed as the “Bitcoin Jesus” for his promotion of BTC. Not only has he invested millions of dollars into different crypto-centric startups including Ripple, Blockchain.info, Bitpay, and Kraken, but his company, Memorydealers, was also the first to start accepting BTC as a form of payment.
Ver, as a well-known advocate of BTC adoption, saw Bitcoin’s potential as a way to advocate economic freedom. This led him to organize Bitcoin meetups and eventually went on to become one of the 5 founders of the Bitcoin Foundation, an American nonprofit corporation that aims to restore Bitcoin’s reputation after several issues.
He further promoted the development of Bitcoin XT. He also served as the CEO of Bitcoin.com, a company that hosts a Bitcoin-related web portal, until August 2019 when he became the Executive Chairman.
Presently, he is a promoter of Bitcoin Cash or Bcash, an altcoin that is a branch off of Bitcoin. As a matter of fact, he was one of the influential proponents who pushed for Bcash to use BTC as a digital investment rather than as transactional money.
In an interview last month, Ver voiced out his support for Bcash as it grows to be the fifth-largest cryptocurrency by market cap.
‘It makes your life easier if you use cryptocurrencies. That’s what’s going to drive the next billion people to start using it. Not the promise of just holding it and doing nothing with it and hopefully you’ll have more money later if we can convince other people to hold it and do nothing with it.
That’s just basically a pyramid scheme and that’s, to me, not interesting. I want to build useful tools that make people’s lives better so they have options that are even better than PayPal or Visa or Bank of America,’ he said.
It is said that gaming could possibly become one of the crucial contributors to the adoption of cryptocurrencies into mainstream finance. This is because most gamers are far more tech-savvy than the average internet user.
They tend to be a bit more open to new ideas, making them an excellent target market for adoption. Online casinos have tapped into this market, making an effort to include various crypto coins in their payment methods.
Bitcasino has risen to the top of online casinos operating in cryptocurrencies. In 2013, it distinguished itself in being the first Bitcoin casino to be fully licensed, issued by the authorities in Curacao.
As the leading BTC casino, Bitcasino boasts a solid reputation with an extensive game selection. The games can be divided into five categories. They consist of table games, slots, live dealer games, dice, and lottery.
A majority of the casino games featured in Bitcasino are made up of titles from Betsoft, an innovative gaming software house recognised for their 3D video slot games, Microgaming.
Along with its instant play and mobile accessibility features, it provides a fast registration process that allows you to simply use your wallet to deposit and withdraw your preferred cryptocurrency. Cryptocurrencies accepted are Bitcoin, Ethereum, Tron, and Litecoin.
Unlike regular money transfers, crypto transactions never take more than a few hours, no matter how large the sum is, or where you are located.
Fraud is almost impossible when handling crypto coins. This is because there are no banks, governments or people that control the movement of the currency. Therefore, crypto transactions remain anonymous and cannot be seized, unlike fiat currency transactions.
If you’re interested in buying BTC through Bitcasino All you have to do is follow these simple steps:
You can rest assured that your transactions in Bitcasino are safe and secured. This is because every BTC transaction requires 3 levels of confirmation. All transaction verifications come from the wallet provider, blockchain, and miners.
To check how many verifications you have on your transaction in Bitcasino, click your balance in the top right corner of the page and then select the transaction link.
After existing for more than a decade, the question of whether or not to adopt cryptocurrency into mainstream finance remains debated across the world.
There is no denying that the mainstream adoption of blockchain and cryptocurrency is inevitable. An increasing number of major banks and hedge funds are turning to cryptocurrencies to construct their investment portfolios. Having said that, the most effective way of mainstreaming crypto to the masses is to integrate it into daily life
For this to happen,blockchain needs to become easier and faster. Cryptopreneurs are taking huge leaps to improve the technology.
The brave new multi-coin world is already approaching. You can now buy a product or service using cryptocurrency as more and more establishments accept it. With every transaction you make with cryptocurrencies, major companies will find ways to integrate it to their systems leading to an influential technological advancement.
Truly, the combined efforts of cryptopreneurs and crypto users can show a recognition that cryptocurrencies will take the front seat in the future of global finance.
Words by: Maria Ramos