I spoke to Mark Vange again just after his recent trip to Bangkok.
We talked a bit about how there seems to be a lot of hype around games and cryptocurrencies, but that the actual number of wallets involved is quite small. We both agreed that there is a lot of fabrication going on in the space…and even those that are making ‘money’ are still having a hard time turning it into useable currency. I also posited that the markets are manipulated and highly concentrated…which is ironic for something that is meant to be decentralized.
Mark is also a bit skeptical of ICO math…and the value of trading on exchanges. In the context of the Gartner Hype Cycle, as it relates to crypto, we both believe that we are passing through he Trough of Disillusionment.
Mark quite succinctly notes, “The peak of the euphoric phase in no way really indicates the peak of the functional phase.” I also make the point that while cryptocurrency as a ‘thing’ is here to stay, most currently listed alt-coins will surely go away sooner rather than later.
The bulk of our conversation was about TokenIQ. The TokenIQ team has built very robust technology that addresses the most pressing issues in the tokenization space. Broadly, this issues fall into six categories…compliance with existing securities laws, cross border issues, token price volatility, post offering transparency, high transactional costs and scalability and regulatory compliance.