Cryptocurrencies are on an upswing, and so are startups that promulgate them. Now, it is these startups that have been promising to keep cryptocurrencies alive and very much vibrant in exchange for some much-needed capital.
Today’s landscape of cryptocurrency start-up is quite generous. Consider all the behemoths from the world over. China may have put the crack on its own local exchanges, crypto companies and so forth, but it has definitely not managed to snuff out the enthusiasm.
Companies such as Robin8 have been quite adept at navigating the choppy seas of belligerent legislation and coming up with solutions on the spot.
Robin8Put, Or How a Foundation Changed the Game
Robin8Put is a foundation that has established itself following the recent fallout between the Chinese government and overseas and local investors. However, Robin8 and other companies have been quick to move in neighbouring jurisdictions where the trade of cryptocurrencies and companies coming from them has not been quite banned yet.
Using local companies and establishing its own cells, these bigger brain trusts have been able to carry out a number of successful ICOs and maintain post-ICO services for the businesses that have decided to operate in this region.
Naturally, the investment that has come their way has been, for the most part, Chinese. Chinese investment has been successfully harnessed to back up promising projects in the heartland of Asia without actually making overtures to China.
The Token as a Promise of a Better Future
So the question remains – what have these companies been doing? They have been rewarding every individual willing to participate in an upcoming ICO with the so-called utility tokens, a sort of in-house currency, which enables the holder to use services within the limits of the platform.
To be truly successful and useful, however, the whole project will have to pick up steam and transition from a promising idea into a full-blown venture. This is the tricky part and this is the exact moment where one thing should be abundantly clear – things do not always work out for the best.
This is why there have been calls for ICOs to be treated like regular coin offers or security offers. This has been picked up in the United States as a viable idea that will peg any ICO to a real-world asset, granting investors sufficient security when it comes to following up with an investment.
However, the realities are such that this culture may not yet take off in Asia, despite the forward-thinking trend that dominates the area.
Some may discern in this a sort of honour-driven way of handling things while others may chalk it up to wanton recklessness entirely. Whatever the true reason for Asian investors pouring FIAT currency into projects with little substantial cover, however, it is still very much on and nothing seems to change it.
What If Digital Currency Become a Thing
Conversely, digital currencies are an idea that is strongly taking root in the East, but hardly so in the West. Even though the European Central Bank has been interested in briefly issuing its own brand of digital currency much of the banking elite in the western hemisphere has been firmly opposed against the idea.
On the other hand, China has even set up its own department to handle the systematical integration of a digital sovereign currency, meaning that the country is fully-prepared, or in the process at least, to go digital.
China will indeed be the first country in the world to call the digital economy simply the economy. With little to consider, China will certainly lead the way into the new digital epoch.
Coin the Other Bugger Under the Table
Some companies have been rewarding their investors with FIAT money all along, although on the downlow. This has been a mild incentive for the same well-heeled investors to continue investing in the desired currency and initiative.
It is quite possible to see similar initiatives taking root in future, as well. Robin8Put is naturally not the only foundation that operates in China and not the only real challenger of the established order.
Much has been said and written about China will genuinely sever all connections with foreign crypto exchanges. Doing so would mean that the country remains in the blind about what happens in its backyard. Staying on may be interpreted as a sign that the Chinese Dragon wants to have future dealings with the crypto industry.
What the future will bring along is not quite known. But there has been a strong grassroots movement that will see cryptocurrencies evolve and support investment in some form.
For now, Robin8 and like-minded companies are making a strong push for the digitalisation of every single walk of life of the region. And Chinese investments continues to bellow the fires of their enthusiasm.