DALLAS, TX / ACCESSWIRE / February 9, 2021 / Fueled by unprecedented institutional investment activity, the cryptocurrency market recently breached $1 trillion in market capitalization.
If you're familiar with the Who's Who in the cryptocurrency space, you've likely heard of John McAfee's gonzo wager where he promised to ingest his, ahem... "membrum virile," if Bitcoin didn't reach a price of $1 million by December 31, 2020 -- also referred to as, "The Great Dickening."
As far as we know, neither of those propositions came to fruition, however, a less salacious prediction was made by digital asset visionary Thomas Carter in February of 2020. At the time of the prediction, the price of Bitcoin was roughly ¼ of today's price.
The market cap prediction is one of many astute forecasts in the fintech & crypto space made by Carter over the past several years, solidifying his position in the market as a digital assets innovator and thought leader.
Carter was ahead of the curve with his flagship venture, DealBox's pioneering digital securities platform, in 2018. Since that time, DealBox has become the leading regulatory compliant tokenized securities issuance and investment platform on the market.
DealBox provides a feature-rich and robust platform using the Tezos blockchain technology. The groundbreaking platform gives issuers and investors a savvy approach to being first-in-line to invest and raise capital via smart securities issuance technologies.
As with traditional securities, these tokenized assets fall under the regulatory auspices of the SEC and CFTC and are rigorously vetted. Unlike traditional securities, however, they are much more efficient, affordable, secure, and easier to regulate due to the novel features of blockchain technology.
Parlaying off the success of DealBox, Carter's Fintech innovation team recently kicked off a better usability initiative with its "Make Crypto Easy" campaign.
Leading this campaign is flagship project, and DealBox issuer, Total Network Service Corp (TNS), is making the sending and receiving of cryptocurrency easier with its product Digital Names by allowing its users to create a simple, human-readable name to replace the long, alpha-numerical addresses used in digital wallets.
Digital Names for cryptocurrency and digital wallets do what domain names did for the internet back in the 90s. Rather than remember a numerical IP address for a website, you can simply type in www.google.com and arrive at the desired destination.
The projected growth of this nascent industry is potentially larger than the Domain Name Service Industry, which currently grosses about $6 billion a year.
GoDaddy, one of the major DNS providers, has a market cap today of around $12 billion. This new industry and market opportunity will mint the next round of companies like this, of which Total Network Service is in position to take advantage of.
Most recently, TNS, under Carter's leadership, has been working closely with a consortium of telco and manufacturing companies on a stealth project aimed at delivering an interoperable solution that would bring an entirely new spectrum of networked communication between the traditional internet, blockchains, and IoT (Internet of Things) enabled devices.
Thomas Carter had this to say on the current state of the crypto market --
" The significance of the crypto space breaching $1 Trillion in market cap isn't so much the number as that certainly will fluctuate over time. I think the takeaway for investors and entrepreneurs is in realizing that the market cap milestone was fueled by institutional investment activity, which seems to validate the intrinsic value and utility of blockchain technology I've been evangelizing for the past several years.
Blockchain is truly novel. There are things you can do with blockchain that you just can't do with any other technology. The things you can do only with blockchain technology have one thing in common, and that is the empowerment of the individual and democratization of transactional activities, whether that be in logistics, finance, communications, etc.
My career focus has been on empowerment and providing value in the fintech space. The advent of blockchain tech has increased that capability 1000x and represents a generational disruption across all the industries that can benefit from distributed ledger technology. I'm excited to be among those leading the charge. "
Thomas Carter, founder and Chairman of DealBox, Inc; read about Thomas: "This FinTech Veteran Is Making Cryptocurrency Startup Funding Legitimate"; connect on LinkedIn and Instagram.
The post-Fintech Mogul Thomas Carter Predicts Trillion Dollar Cryptocurrency Market Cap in 2020 appeared first on Yahoo News.
Deal Box, Inc.'s mission is to "Democratize Wealth for All" as the World's First Democratized Venture Capital Firm. Deal Box, Inc. is The new standard for venture investment and funding. We are a specialty capital markets consulting firm focusing on traditional and digital securities industries utilizing blockchain-based technologies, enhancing capital formation for entrepreneurs, and early ventures to growth-stage companies.