Turbulent times have hit the cryptocurrency market, with all the existing currencies all coming crashing down, disrupting everything. Whether it be giants like Bitcoin and Ethereum or the blooming buds like Ripple, buyers have lost trust in almost every currency. Things have not looked good for any of the Initial Coin Offerings (ICOs) or Initial Token Offerings (ITOs) either. According to Bitcoin.com, 46% of the ICOs in 2017 failed and this trend has continued to grow, reaching more than 50% in 2018. It seems safe to say that cryptocurrency is not a safe bet anymore.
But there has been a major exception amidst this crash with the ITO for Bytus being a success. The reason behind this success has been a major breakthrough in the crypto market. Bytus which is a fully owned subsidiary of Global Digital Payment managed this success because of the minds that are behind it. Founder Altug Tatlisu is a Blockchain Developer, who has years of experience with the blockchain technology and has pioneered a breakthrough in the world of cryptocurrencies. He along with Harry Masly who is Bytus’ Blockchain Engineer and Director Financial Operations, Serdar Nurdogan have pooled in their expertise to create a system through which it has become possible to convert crypto into fiat money.
When you look deep into the causes of crypto’s recent failures you will understand that people have lost trust in cryptocurrency, not the blockchain. Jack Ma, the founder of Ali Baba Group, says, “Blockchain Technology can change our world more than we can imagine. Bitcoin, however, could be a bubble.” Such has been for many of crypto’s critics, they have all had their trust in the blockchain. The reason behind most critics not showing trust in crypto currency is due to its lack of usability and that it cannot be converted into fiat money. Altug and his team at Bytus have managed to changed that, thus making a successful ITO in such turbulent times a reality.
If people show the same level of trust in Bytus tokens and the Bytus wallet, we can expect crypto’s value to rise back up sooner rather than later. Bytus has created a blockhain-based ecosystem that has facilitated payments through crypto to levels that were not possible before. The Bytus team expects to continue to bring more advancements in its ecosystem in the near future and with that on the horizon it can be expected that the whole cryptocurrency market will benefit from it.
Major investors have not still lost their trust in crypto and countries like France, South Korea, Philippines, and even China are all taking positive steps in supporting ICOs, so it is not too late now. Minds like Altug are still playing their part and it is actually safe to say that this is just a small fluctuation that does not at all mean the end for crypto.