- Whereas some of you will live and breath of the crypto space, it’s hard to see past its flaws.
- Companies like Google and Apple are highly anticipated to get involved with the space however, how likely is this to actually happen?
Whereas some of you will live and breath of the crypto space, it’s hard to see past its flaws. One of the big flaws is the volatility that is known for throwing people off getting involved with the industry - however, it is also known for putting long-time investors off too. There’s also the fact that in the current state of the market, it’s easier to lose money in crypto than making it. Then there’s the hacker problem but I think you get the idea…
With this in mind, big companies are eyeing up the space like a kid to his presents on Christmas however, there is the scepticism that comes along with it.
Companies like Google and Apple are highly anticipated to get involved with the space however, how likely is this to actually happen?
The unfortunate likelihood of these two conglomerates doesn’t look great for the foreseeable.
Given that the industry is unregulated, big companies don’t just have their money on the line but their reputation too.
Hartej Sawhney, CEO of Las Vegas-based cybersecurity agency Zokyo Labs has said that security is something that needs to be furthered. Getting cryptocurrency firms to have a sturdy and reliable cybersecurity policy in place isn’t easy.
“Crypto is a new industry that is relatively unregulated. The challenge of having a cybersecurity program is needing to have qualified staff both in-house and third-party. Basic standards such as hiring third party ethical hackers to regularly conduct penetration testing are not being followed. In Crypto, if hackers can identify and exploit protocol flaws, then they will compromise the entire network, since the security chain is protocol, then exchange, and then wallet.”
Whether big companies like Apple or Google will eventually get stuck in with the industry is unknown. Hope is always in the minds of crypto investors though and if things get bullish, who knows what the future holds for big companies in crypto.
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