Technically, Yes!
Fundamentally: Based on a research by Oxford University in 2017 by Dr. Garrick Hileman & Michel Rauchs following information was provided:
KEY HIGHLIGHTS OF THE STUDY:
• The current number of unique active users of cryptocurrency wallets is estimated to be between 2.9 million and 5.8 million.
• The lines between the different cryptocurrency industry sectors are increasingly blurred: 31% of cryptocurrency companies surveyed are operating across two cryptocurrency industry sectors or more, giving rise to an increasing number of universal cryptocurrency companies.
• At least 1,876 people are working full-time in the cryptocurrency industry, and the actual total figure is likely well above two
thousand when large mining organizations and other organizations that did not provide headcount figures are added.
• Average security headcount and costs for payment companies and exchanges as a percentage of total headcount/operating
expenses are similar, but significantly higher for wallets.
EXCHANGES
• The exchanges sector has the highest number of operating entities and employs more people than any other industry sector
covered in this study; a significant geographical dispersion of exchanges is observed.
• 52% of small exchanges hold a formal government license compared to only 35% of large exchanges.
• On average, security headcount corresponds to 13% of total employees and 17% of budget is spent on security.
WALLETS
• Between 5.8 million and 11.5 million wallets are estimated to be currently ‘active’.
• The lines between wallets and exchanges are increasingly blurred: 52% of wallets surveyed provide an integrated currency exchange feature, of which 80% offer a national-to-cryptocurrency exchange service. In contrast with exchanges, the majority of wallets do not control access to user keys.
PAYMENTS
• While 79% of payment companies have existing relationships with banking institutions and payment networks, the difficulty
of obtaining and maintaining these relationships is cited as this sector's biggest challenge.
• On average, national-to-cryptocurrency payments constitute two-thirds of total payment company transaction volume,
whereas national-to-national currency transfers and cryptocurrency-to-cryptocurrency payments account for 27% and 6%,
respectively.
MINING
• 70% of large miners rate their influence on protocol development as high or very high, compared to 51% of small miners.
• The cryptocurrency mining map shows that publicly known mining facilities are geographically dispersed, but a significant
concentration can be observed in certain Chinese provinces.
- Well! Now, how many more people are getting more & more geared up with the industry?
- How many more can be estimated?
- How many institutions are seriously considering the industry for investment & transactions?
These are important to be addressed.
What do you think?
Fundamentally: Based on a research by Oxford University in 2017 by Dr. Garrick Hileman & Michel Rauchs following information was provided:
KEY HIGHLIGHTS OF THE STUDY:
• The current number of unique active users of cryptocurrency wallets is estimated to be between 2.9 million and 5.8 million.
• The lines between the different cryptocurrency industry sectors are increasingly blurred: 31% of cryptocurrency companies surveyed are operating across two cryptocurrency industry sectors or more, giving rise to an increasing number of universal cryptocurrency companies.
• At least 1,876 people are working full-time in the cryptocurrency industry, and the actual total figure is likely well above two
thousand when large mining organizations and other organizations that did not provide headcount figures are added.
• Average security headcount and costs for payment companies and exchanges as a percentage of total headcount/operating
expenses are similar, but significantly higher for wallets.
EXCHANGES
• The exchanges sector has the highest number of operating entities and employs more people than any other industry sector
covered in this study; a significant geographical dispersion of exchanges is observed.
• 52% of small exchanges hold a formal government license compared to only 35% of large exchanges.
• On average, security headcount corresponds to 13% of total employees and 17% of budget is spent on security.
WALLETS
• Between 5.8 million and 11.5 million wallets are estimated to be currently ‘active’.
• The lines between wallets and exchanges are increasingly blurred: 52% of wallets surveyed provide an integrated currency exchange feature, of which 80% offer a national-to-cryptocurrency exchange service. In contrast with exchanges, the majority of wallets do not control access to user keys.
PAYMENTS
• While 79% of payment companies have existing relationships with banking institutions and payment networks, the difficulty
of obtaining and maintaining these relationships is cited as this sector's biggest challenge.
• On average, national-to-cryptocurrency payments constitute two-thirds of total payment company transaction volume,
whereas national-to-national currency transfers and cryptocurrency-to-cryptocurrency payments account for 27% and 6%,
respectively.
MINING
• 70% of large miners rate their influence on protocol development as high or very high, compared to 51% of small miners.
• The cryptocurrency mining map shows that publicly known mining facilities are geographically dispersed, but a significant
concentration can be observed in certain Chinese provinces.
- Well! Now, how many more people are getting more & more geared up with the industry?
- How many more can be estimated?
- How many institutions are seriously considering the industry for investment & transactions?
These are important to be addressed.
What do you think?
