Blockchain and cryptocurrency are two sides of the same coin, but while cryptocurrencies are caught in a bear market, blockchain is steadily making headway into different industries. Huobi Capital’s managing director Li Huo believes that next year will be important as blockchain goes mainstream and investors open up to the possibilities in this space.
The Opportunities in Blockchain
Speaking at the Sora Summit, organized in Macao on November 13, Huo noted that there are stark differences in approach between the Western and Eastern markets as far as cryptocurrency investments and blockchain development is concerned. He said that many investment projects came forward in 2017, but now investors are knowing about current trends in the industry and adopting more rational thinking.
He also said that the Chinese authorities and their increasing attention to the blockchain space would have beneficial effects on the industry. “Strengthening supervision on blockchain-related financing investment from the Chinese government will motivate our industry to move forward,” he noted.
Blockchain Getting Acceptance
Huo said that blockchain, as well as a cryptocurrency, will get more public acceptance in 2019, saying:
“I believe that the blockchain industry will become more mainstream from 2019 onwards and more investors will want to engage in it.”
He thinks that the US will also start safety regulations next year. Huobi Capital’s goals for the future will be to focus on infrastructure projects, half of which are located in North America. The other half is in South Korea, Asia, and Europe. It will be investing in projects that solve scalability issues, improve stability, privacy problems and interoperability in public blockchains.
The company is also paying attention to the latest technological developments in Europe, Middle East, and the United States. He said that Asian markets have a good variety which is useful for testing new products. This difference leads to more technologically driven products in the West and market-driven products in Asia.