HO CHI MINH, Vietnam, May 26, 2018 /PRNewswire/ --The Huobi 2018 1H Global Blockchain Industry Developments Report unveiled at Blockchain Festival Vietnam was among the mega-conference's top highlights. The event organized and presented by Huobi Pro; will be the first stop of its series of conferences held around the world.
The Huobi 1H 2018 Global Industry Outlook Report is a treasure trove of information on a global level, industry wide. Dr Hubery Yuan, Dean of Huobi Research started his speech by sharing the statistics from 2017, digital asset market total market capitalization increased 30 times from $17.74 billion to $559.76 billion. He went onto unveil the statistics of 2018H1 - massive retracement was triggered, the Top 5 digital assets price 70% below all-time highs, roughly the same price level as October 2017.
Dr Yuan continued explaining the on-going paradigm shift from 'investment driven' to 'investment and application driven'. The significance is that coins with various use cases will be tokenized on-chain, and reflected in the market capitalization mix.
Token-token exchanges are expected to grow, according to the report. Dr. Yuan mentioned that token-fiat currency transaction will decline over the years.
The report, pointed out that Blockchain is a technology. There has to be a market need for this technology. The method of finding a use case after adopting Blockchain is akin to putting the horse before the cart. Instead, Blockchain should only be used appropriately to fit user requirements.
The Blockchain technology is attracting "internet-killing applications". According to the report, successful business models of the internet age are now being copied over on the Blockchain, to various effects on market capitalization. The expected increase of the Blockchain user base still has great potential - 20 million actual uses of Ethereum unique addresses which only makes up 0.5% of internet base, shows that the Blockchain industry has a lot of leeway to grow.
The Huobi 1H 2018 Global Industry Outlook Report is available to download here: https://blog.huobi.pro/hc/en-us/articles/360000085781-2018-Global-Blockchain-Industry-Developments-Report.