Since Christmas and the year, 2018 is drawing to an end; the crypto traders will take their investments to prepare for the future. PwC is an international network of companies that offer auditing as well as consulting services. It was founded in 1849 and headquartered in London. One of the four big auditors, PricewaterhouseCoopers (PwC), believes that the lack of insurance coverage against theft and hack risks hampers the growth of the crypto world. This is why the big crypto investors cannot invest in an unregulated market without insurance in order to reduce risk factors.
There was an interview of Henri Arslanian, FinTech & Crypto Lead for Hong Kong & China at PricewaterhouseCoopers with Bloomberg on December 24, 2018. He said:
“In 2018, we saw a lot of the big players entering the space. In 2019, I expect even more players to enter into the sector as well, especially in different ways. Some of them may decide to launch their solutions, others may look to partner with crypto firms, and others might look to invest in crypto companies.”
And he even touched several characteristics of crypto debate and predicted a positive outlook of crypto industry in 2019. He believes that many institutional players will enter the crypto world in the upcoming year and a high probability of the bear market to bring balance to the industry. Entry of institutions in crypto sphere would serve industrial backing as well as enable the kind of expertise which is required in the industry. The lack of regulatory clarity has plagued a lot of countries. However, with increasing clarity on the regulations, Fintech expert is hopeful for next year to be different from 2018 in a better way.
He argued, “I think a lot of things are changing on a global level. For example, take a look at regulatory clarity in 218, a number of jurisdictions provided more regulatory clarity than we had before…. I expect more of this to happen in 2019, and that will give even more comfort to institutional investors and players as well”. By integrating blockchain solutions, by investing or by partnering in crypto industry, Arslanian expects big banks across the world to enter the crypto world. Furthermore, he added some known companies in order to boost portfolios will partner with cryptocurrency companies.
“… Fidelity being the third largest asset management company in the world with 7.2 trillion dollars assets under management, it’s definitely, you know, the big institution that everyone has been waiting for and it’s not, you know, just investing in something. We’re pulling in a joint venture; it’s actually creating a subsidiary completely focused on providing digital asset services.” stated by PwC official citing the example of Fidelity and its impact:
Changpeng Zhao, CEO of crypto exchange platform Binance revealed that they aim to begin 2019 with a bang. In an interview with Bloomberg Daybreak: Middle East” host, Yousef Gamal El-Din said that “2018 has been a tough year in terms of pricing for the cryptocurrency. And we see a lot of projects not making it this year, so it’s a correction year. But technology will stay, and we want to kick off 2019 with a bang… So, I think the people in the industry are still very confident about the future. So, there are no worries about that.”