Further Reading
April 14, 2021

Coinbase on the Stock Exchange

What does this mean for crypto?

Crypto has come a long way. Considering the fact that it was a concept that did not exist before 2009, cryptocurrency has been on an explosive run in popularity. Now it seems it’s impossible to not hear of crypto with currencies such as Bitcoin making it into the news globally.

But what confidence does this currency really have with the masses? The issue seems to be that a move towards crypto may represent a reduction in the confidence of banks, with crashes such as those seen in 2008 may seem to validate. People are moving from the conventional terms of financial investments and believe that crypto is the safer, smarter investment for their money.

Bitcoin is seen as the first generation of crypto, since then there have been leaps and bounds in developments, developing way beyond its initial purpose. MXC have created a Utility token that is also commonly referred to as an Internet of Things (IoT) Token. Building a global data network to allow IoT devices to communicate with one another and the token being used in payment for this. MXC allows data devices to commit, connect and communicate better than before, often at much longer distances, by connecting hundreds of billions of devices, making Smart Cities a success.

Many believe that the huge, rapid price appreciation of crypto is just a bubble and this movement will not last. But is that necessarily true? What sort of validation of the idea of crypto and the blockchain that supports it really need?

The listing of Coinbase shows the confidence towards crypto. The trading platform, founded in 2012 is said to be worth a staggering $68 billion with some crediting it to be even higher. People are now able to take crypto and use it for commerce, with the most noticeable example being electric car giant Tesla accepting Bitcoin with Elon Musk claiming it as the ‘Technoking of Tesla’. Other vendors are beginning to do the same and the amount of vendors providing this will be sure to accelerate with the validation of Coinbase.

Coinbase going public can only mean a good thing for crypto and will validate it for many who have been doubtful of it. By going public it legitimizes the crypto industry as a whole.

MXC is paving the way for a global data payment network, creating a crypto currency with a purpose, a shared economy.

Jessica Hughes