High Standards Needed for the Blockchain Technology To Thrive

high technology for the ICO

 

Many outstanding achievements were recorded in the Blockchain community last year. For instance, the initiation of the ICO greatly contributed to the Blockchain and made people in different parts of the world to have positive views about it. Although many outcomes were predicted to favor the individuals, most of them witnessed a lot of setbacks due to many factors. Some of them include: Lack of proper accountability, lack of self- discipline and poor organization.

 

In 2018, regulators and global experts explain that several measures are being adopted to reduce the chances of failure and make the exchange business to become more favorable to everyone. They also intend to create new standards, more innovation techniques on every project such as the ICOs and others. For instance, The EDGAR (Electronic Data Gathering, Analysis, and Retrieval) is an on-going technique carried out in the US by a team of professionals that would go a long way to ensure that high standards such as the increase in fairness and justice are maintained.

 

A supervisory regime has also been set up by the Japanese Financial Services Agency (FSA) to determine how assets such as tokens would be classified and also which individuals should be allowed to issue the tokens.

 

Suggestions have also been made on how best practices on the use of the internet would be initiated to reduce the rate of crimes by hackers and scammers. According to experts, crimes such as internet bullying, property violation and others have slowed down the growth rate of the industry over the past years and must be controlled in order to encourage already existing investors and every other individual in different parts of the country who is willing to trade on currencies. There is no doubt that people’s confidence to trade on these cryptocurrencies would be built if more innovative techniques and best standards are put in place.

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