The blockchain technology continues to charter new ground and open whole new industries in ways that were never previously possible. When we talk about this revolutionary technology, a lot of people understandably bring Bitcoin, Litecoin as well as other crypto coins to mind. Now, this is true only for the early days of his burgeoning industry as it has since grown to be applied in virtually every single sphere of business and life as a whole. Utility tokens are now the way to go, as platforms offering actual services in certain niches, now offer their users the chance to pay for the access of such services without needing to go through banks and their middlemen, or even standalone cryptocurrencies like Bitcoin for that matter.
Bitcoin, Litecoin as well other legacy cryptocurrencies had a wonderful 2017, experiencing growths in value manifolds of what they began the year with, but it is every expert’s belief that 2018 will be the year of the tokens, as a result of a number of reasons some of which include:
- Maturation of the Industry: The year 2017 saw an explosion of the number of ICOs all around the world, largely thanks to the accessibility of the Ethereum blockchain which made the creation of DApps easy. A lot of these ICOs have a timeline of a year or so to become fully operational and ranging from the provision of smart electricity grids, to the tracing of goods through their supply chain, the industry is growing at a breakneck speed and fast reaching maturity. Even the banking industry giants such as JP Morgan are diluting their harsh rhetoric against cryptocurrencies and the blockchain technology as a whole, as some of the promises made by these new startups are beginning to shape up.
- New Titans In The Making: One of the other reasons why we are most likely to see the explosion in the value of utility tokens around the world much more than we might see in coins, is the fact that with the maturity of ICO startups comes the possibility that they will turn out to be shapers of industry in the times ahead. Who would not love to buy a stock of the next Amazon or Apple while it is still trading for a little over a dollar? Astute investors knowing that the blockchain technology is going nowhere and as such are on the lookout for the next big thing that is built on it, Utility tokens will see a boom in demand and an equal appreciation in their prices.
- Ease of Access to Services: Buying a phone through a centralized marketplace often requires a bit of wait, steep charges and highly inefficient payment modes, The blockchain technology with the aid of utility tokens is ridding users of all the problems that plague their transactions, and make their buying and selling activities as seamless and hassle-free as possible. All one needs is access to the utility tokens of a certain platform which are traded freely on the markets. With greater acceptance of these tokens and a wider use, their value seems sure to go only one way, which is up.
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