Nasdaq Looking to Become a Cryptocurrency Exchange

 

Recently, with their market cap sitting at nearly $9 trillion USD, Nasdaq has set their hearts on becoming the next big cryptocurrency exchange and making it a more regulated market. This was recently announced by the company’s CEO who mentioned that the project who be in collaboration with Gemini Cryptographic Money Exchange, a cryptocurrency exchange founded by two prominent figures in the industry, the Winklevoss brothers.

 

Regulations Still Represent a Major Obstacle

For most experts, there is no doubt that cryptocurrency is here for good and it’s only a matter of time for the industry to become more regulated. However, as it stands, the lack of regulation in the industry still constitutes a major obstacle for major investors and Nasdaq’s CEO, Adena Friedman, believe that this issue must first be remedied before they can create their own exchange.

While Friedman is optimistic about the future of cryptocurrency, she is much more hesitant when it comes to their fundraising process known as an ICO (Initial Coin Offering). For her, ICOs are nothing but titles and she believes that the SEC’s (Securities and Exchange Commission) decision to deem them as securities was well founded.

 

In Support of Existing Exchanges

Elsewhere, the company has also partnered with Reality Shares, a San-Diego based company that is offering blockchain solutions to the real estate market. The partnership was formed with the goal of launching two separate funds based on blockchain technology.

According to the CEO of Reality Shares, Eric Ervin, if he were to class Nasdaq’s interest in cryptocurrency on a scale from 1 to 10, he would place them as a 6. Moreover, he also added that Adena Friedman seems like she could be a major benefit to the SEC when it comes to dealing with and regulating ICOs. This level of interest clearly shows that Nasdaq supports the growth of the industry and could soon be a key player as a cryptocurrency exchange.

 

The SEC Monitors ICOs

Earlier at the beginning of this year, the United State’s SEC launched a formal survey to monitor the evolution of the cryptocurrency market. This unregulated market was brought to their attention after Bitcoin’s prices soared to nearly $20,000 last. Furthermore, the SEC has been closely monitoring all ICOs and has already cracked down on several fraudulent cases so far this year.

In other news, the SEC also announced back in March 2018, that they were to begin regulating the industry and enforcing security laws on cryptographic exchanges and digital wallets that operate within the country. Furthermore, Jay Clayton, Chairman of the SEC, has recently announced that the organization already devotes a massive part of their resources to monitoring these unregulated markets, and will continue to do so.

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Jobs in the Cryptocurrency Market

 

In recent years, cryptocurrency and blockchain technology have been rather hot topics. So much so, that now, dedicated employment services are beginning to pop up for those looking for jobs in the industry.

Recently, CoinDesk, a leading name in the cryptocurrency world, launched their first online “Career Center”, which is meant for job listings related to cryptocurrency and blockchain technology. The company’s marketing director, Jacob Donnelly, said “It’s no secret. There is a high demand for skills and finding talent in the industry can be quite difficult.”

In addition to launching their online career section, CoinDesk is also going to be hosting a job fair during its annual Consensus conference in New York, which is schedule for the middle of April 2018.

 

Trending to the Top

In a recent report, the online freelancing database, Upwork, said that job listings requiring skills in related to blockchain technology have soared by nearly 6,000% in the first quarter of 2018.

“It’s like a gold rush mentality.”, Andy Challenger, an expert in the industry, recently said, “Lately, there’s been a massive increase in the activity around cryptocurrency due to the volatile, yet very exciting nature of Bitcoin.”

At the end of last year, Bitcoin dominated the news when its price skyrocketed nearly 2,000% in less than 12 months, before peaking at almost $20,000 per token. Bitcoin was the very first cryptocurrency, which was designed to eliminate the need for a 3rd party intermediary, such as a bank, to be involved in a financial transaction.

Today, companies everywhere around the world are beginning to experiment with the idea of blockchain technology and are looking for ways that they can apply it to their operations.

As of last year, Accenture, Microsoft and IBM made up nearly half of the $700 million dollars of revenue generated by the entire cryptocurrency industry. Furthermore, many analysts firmly believe that this industry has only begun booming and could easily grow into generated tens of billions of dollars per year.

According to one expert, “As this technology continues to mature, I believe that the need for people with blockchain experience will continue to grow as well.” Many other analysts also believe that by taking a risk and jumping into the industry while it is still young, could easily set an employee up for key positions in major corporations in the future.

 

The Early Bird Gets the Worm

Now, by joining a cryptocurrency startup and gaining experience in the industry, you could be gaining valuable experience that could potentially serve you well down the road. However, the industry is still relatively small, with a total market cap no bigger than the average S&P 500 company, which can make it a rather risky decision.

Of course, there are time when companies have extremely good ideas, however, they don’t manage to find funding for their project and end having to shut their doors. However, we are seeing an increasing number of individual leavings their jobs in government or finance to work with blockchain technology. And, while it may be a volatile industry, the benefits of getting into the industry early can be outweighed by the potential success that these types of jobs represent.

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