TwoGap expects blockchain economy to reach USD1tn by 2020
TwoGap, a blockchain-based asset management platform, says it expects the blockchain economy to reach USD1 trillion by 2017.
The blockchain economy currently exceeds USD100 billion on the market, which is an enormous inflation in a single year. It isn’t surprising that another huge increase is expected in the next few years.
According to a company executive with TwoGap, “Blockchain-based asset management will go to USD1 trillion in 2020.” USD100 billion is a small number compared to what can be expected in upcoming years, but this startling increase won’t occur without a few factors to support it.
“Large industries like banks and healthcare must participate. The problem with these industries is that they need to prove identity. It’s simply a requirement when dealing with insurance, home loans, hospitals, etc. Photos of a government ID are usually needed to process these types of transactions or services. Government regulatory requirements must be met before services can be provided and cryptocurrency is inherently anonymous. TwoGap utilises blockchain technology to provide the safety and privacy needed to eventually open up these industries to the option of cryptocurrency.
Blockchains need to be easier to understand. They consist of complex processes that clients don’t need to fully grasp; they just need to know that they are using a trustworthy company that can securely handle those details. Companies that have the ability to mask those complexities and also do faster, cheaper, transactions, like TwoGap, will see success in the future.
“ICOs need to settle a bit more for people to trust them. ICOs, or initial coin offerings, are an unregulated way to raise money for a cryptocurrency venture. They have the potential for massive ROI and are all the rage at the moment. Popularity, however, makes ICOs a huge temptation for scam artists. There must be several stable companies with valid ICO successes in the next little while for the blockchain economy to expand further.
“Many clients are challenged by asset management companies that charge high fees, have vulnerable security and privacy, and long waits for trade settlements. TwoGap utilises blockchain technology to provide solutions to these problems and sets users up with tools to view data and analytics, create content, and choose from a wide selection of distributed digital assets. An investor base can be created by sharing content with the community. Security and privacy are a non-issue with TwoGap's platform. Transactions will be verified and sellers will be proven trustworthy, which will make the search for sellers much simpler.”