Despite the growing range of possible applications of Blockchain technology, most people still tend to focus on the tech’s impact on the financial sector. This is hardly surprising. After all, in 2008, Satoshi Nakamoto’s original pitch described Bitcoin (BTC) and its underlying protocol as “a peer-to-peer electronic cash system”. Cryptocurrencies, which run on blockchain or other forms of distributed ledger technology, aim to challenge the role of their fiat counterparts as a medium of exchange, or, at the very least, strive to create a new investment asset class. And, even though the market for initial coin offerings (ICOs) cooled off dramatically in 2018, for a time token sales managed to challenge the traditional fundraising models.

Positioning blockchain and crypto as a challenger to the traditional financial sector puts the nascent tech in a disadvantage, at least in the developed world, where the incumbents have had centuries to develop a financial system that, for the most part, works. However, when it comes to…

Click to continue reading on its source location…

Source: https://thebitcoinnews.com/icos-in-emerging-markets/