Cryptocurrency 2019: can industry leaders collaborate to ensure a more prosperous year?

2018 was a rough year for cryptocurrencies. Bitcoin plunged, scams ran rampant, and countless initial coin offerings (ICO) closed their doors. An article recently released by Forbes details the steps necessary to ensure a profitable 2019.

In “New Protocols And Super-Fast Transactions; What to Expect From Cryptocurrency in 2019,” journalist, Gerald Fenech, calls for a shift in focus from profitability to utility. By improving transfer and exchange speeds related to crypto-payments, Fenech believes cryptocurrencies will be more suitable for merchants and consumers.

Networks such as the Lightning Network, Light Network, and Plasma are all working to improve speed, cost, and scalability when conducting cryptocurrency transactions. Although a step in the right direction, Fenech is calling for collaboration in the industry. He says that if the companies creating these networks were to work together, it would “lead to widespread adoption of cryptocurrency.”

A more unified industry could lead to positive changes in 2019. And although Fenech’s argument seems valid, can cryptocurrency leaders and innovators work together to ensure a prosperous market?