The year of 2017 has been incremental to the future of the cryptocurrency industry. With the price of bitcoin and the other top cryptocurrencies by market capitalization gaining large amounts of value, the market only looks like it is going up. One initiative known as Open Money is growing to help boost awareness and understanding of the second largest cryptocurrency by market capitalization.
Ethereum has already built a name for itself by growing in value this year. With the use of smart contracts and other technology involved helping to revolutionize the digital currency industry, Ethereum looks like it will continue to grow.
Open Money has quickly come into the picture by offering a multinational blockchain initiative focused on bringing information to the masses. The initiative is meant to change the public view of the currency that can sometimes be skewed as sketchy or illegitimate. Ethereum needs the help of changing the public understanding to that of something more positive.
Open money is planning to support other cryptocurrencies in the future if their first initiative ends up going to plan. The goal is to have individuals gin hands on experience investing in currency on a digital platform. This venture may result in an increase in value for the currency, but this has yet to be determined.
The possibilities that come with such an initiative are limitless and are not held back by any one body. There has yet to be one specific course of action that the company is going in, but the company is working on ways to expand the applications of the currency as a whole. One idea is to be able to use cryptocurrency to pay tuition, or with insurance companies for example, but like previously mentioned, the applications of this initiative are essentially limitless.