A banker’s guide to innovative blockchain technology

<p>If there is one thing we can anticipate from 2022, it is that banks will continue to size up the blockchain space, an area they were previously attempting to avoid. Another apparent certainty is that the blockchain ecosystem will continue to grow, with additional tokens, initiatives, and businesses taking off. Put two and two together, and you get dozens of Blockchain Innovation Officers and Chief Information Officers about to discover what a circus the scene is in general. Here's how to ensure they're not wasting their time. </p> <p>While the blockchain ecosystem was once viewed as the digital equivalent of the Wild West, a vast frontier where virtually anything is permissible, the reality is quite different. Circumstances are changing, and the industry has become more benign and receptive to regulation. </p> <p>It is, however, massive, with over 7,000 cryptocurrencies available. That is not to say that each venture launches its own coin. </p> <p>Additionally, not all cash is created equal. While some of them are armed with a vision and utility, if not an objective, others have little to offer aside from a tokenomics model presumably imagined for them on the Moon. The business embraces open-source design, which enables it to advance through contributions from hundreds of talents, but there is a flip side as well. It's simple for developers to fork, or replicate, a popular venture, slap an underhanded new feature on top of it, along with new branding, and launch it live to earn a quick profit. </p> <p>This adds a completely new dimension to the considerations of decision-makers in the crypto space—a number of its segments are driven primarily by virality. For instance, in early 2021, Dogecoin, a meme coin featuring a Web-famous canine as its image, skyrocketed in popularity, eventually becoming one of the primary standard cryptocurrencies. Different development teams saw an opportunity and launched additional Shiba Inu-themed coins, and now there are probably more dogs on CoinMarketCap than in your neighbo