There are a lot of exciting things happen. Many of them can take the world of cryptocurrency much higher.
Where do we begin.
- Bitcoin reaches an all time high
- Cryptocurrency market cap reaches ATH (according to Coingecko)
- DIEM looks to distance itself from Facebook
The third one might not be that exciting but it will introduce a Stablecoin, albeit centralized one, to more than 2 billion people. Nevertheless, the first two really have people jumping for joy.
While all this can be helpful, there is something that is being overlooked.
Creating Our Own Money
Anyone who is involved in cryptocurrency for any period of time knows that one of the biggest changes is that we now can create currency "out of thin air". This is something that previously was only under the control of the Central Banks.
Many took the initiative to do this. There are thousands of projects that are now tokenized. This is really helping to expand the industry. However, there is something that has not taken part in all this: corporations.
We have not seen companies jump into this arena. That might be coming to an end. While many guessed over the years if it would be Apple or Amazon that made the leap, it appears it could come from something outside the scope of many in cryptocurrency.
AMC, the struggling movie theater chain, stated that it could bring out its own token. The CEO of the company is pro-cryptocurrency, mentioning that it would start accepting it as payment for tickets.
Of course, this proclamation takes things to another level.
Aron hinted at plans during an interview with CNBC while noting that AMC is “getting hyperactive in cryptocurrency.”
“There are a lot of reasons why AMC could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency,” Aron said, meaning that the company could create its own custom crypto token.
“That’s just one of half a dozen ideas that we’re working on right now,” Aron concluded, though he did not indicate whether all of those plans related to cryptocurrency.
It is going to be interesting to see how corporations approach this situation. One of the biggest issues is that the United States is not friendly towards cryptocurrency issuance. Being a public corporation, it could become an easy target of the Feds, the SEC in particular.
Decentralized Entities
At some point, we will see the tokenization of corporations. Whether it is the United States leading the way or other countries remains to be seen. That said, we should expect this to open up at some point, most likely within the next year or two.
Cryptocurrency is simply to much to resist. The possibility of how companies can build and strengthen their brand is enormous. In short, corporations will be foolish to overlook the potential that exists here.
One thing that is going to keep rolling out is decentralized entities that are tokenized. It appears one of the keys is going to be to get around the regulations by not being applicable. Decentralized entities are something that organizations such as the SEC are not designed to handle. The SEC admitted as much on numerous occasions.
For now, it is going to be difficult to navigate the waters that everyone is swimming in. As time passes, we can expect automation to create an environment where the DAO structure is a more viable way to establish things. Since we are presently dealing with organizations that have the human element, we are going to see hybrids forming.
Will AMC open up the floodgates with corporations looking to establish their own token? We can expect suffering companies to turn to this area as a possible way to open up new avenues. That said, we can expect more successful companies to monitor what those who are throwing "Hail Marys" are doing. If there ideas that work, we will likely see this copied.
No matter how this all unfolds, it is obvious that cryptocurrency is really kicking into overdrive. With so much taking place, it is going to be an exciting time over the next couple years.
