The cryptocurrency market is still a long way away from mass adoption – you can feel it just by asking around your work or school. Average day-to-day people still don’t really know, care, or feel the propensity to invest in the multitude of digital currencies out there, and sometimes it’s a little hard to see a viable future with everyone using them as a medium of exchange.
Sometimes, however, there are very clear signals and movements that show how the cryptocurrency market is actually making slow progress – and one of those things just happened.
Iconomi (ICN) is taking crypto legitimacy seriously
So, this has been happening with a lot of the most trustworthy crypto projects already, but Iconomi (ICN) just joined the club – the club of blockchains that have been officially audited.
#ICONOMI’s first blockchain audit represents one of the most important milestones so far, another bridge we have built between the old and the new economy, and another step we have made toward transparency and trust. Read more about this big step here: https://t.co/qqYTabiGXp pic.twitter.com/hH45i4b7hw
— ICONOMI (@iconominet) April 20, 2018
You can read more about it here, where the CEO and founder discusses the details of the audit. According to the company head, whose name is Tim M. Zagar:
“I’m convinced that with this move, by using the principles of the existing financial world and adding innovative processes from the emerging crypto-economy, we are taking another proactive step toward regulation. I’m also confident that such responsible practices will help pave the way for other blockchain-based companies. The only way blockchain companies will become widespread is through trust.”
Now, an audit may not sound that exciting, but it actually is in this case – because it is a very historic audit that will live forever in the history books of the cryptocurrency community. It’s historic because it’s the first time ever that a “big 4” auditing firm, like Deloitte or KPMG, has audited a cryptocurrency firm.
It means that this team and project is taking their public perception seriously, and trying to bridge the gap between the crypto world and the mainstream financial asset world. It’s a big move for the company, but also a big move for the industry overall.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.