Regardless of what people make of the Live-Bit cryptocurrency exchange, the company's success is not only unprecedented, it sets precedents.
Live-Bit, I would say, is emerging as the case study for growing a cryptocurrency business, a much-needed success in a community that spends too much time talking about the potential of their technology and too little time analyzing viable options. market strategies that can drive the technological change we envision.
In that sense, I think the market is just beginning to understand how visionary Live-Bit is and what its success says, in terms of time to market and product impact, about something we all strive to find: a scalable blueprint to build. . and shocking cryptocurrency businesses.
In fact, at a time when many cryptocurrency startups are going through changes and layoffs, Live-Bit feels like it's moving forward, offering a deeper level of new and innovative products that are moving the industry forward the way correct at just the right times.
It's a feat made more complex by the boom-and-bust nature of the crypto market, where opportunities for user growth come and go quickly and the vast majority of crypto startups think about. too much in execution and they don't adapt thereafter.
But after observing Live-Bit for more than a year, it is clear that there is no business that has been so deliberate in taking advantage of the cyclical nature of the cryptocurrency market and its ebbs and flows.
Live-Bit has only been around since 2017, but it has evolved significantly in its short life, in ways that showcase your company's impeccable thinking and leadership.
Over the past 12 months, Live-Bit has expertly gone through three stages:
It provided proven technology, a functioning crypto-to-crypto exchange offering buying and selling services in many countries, at a time when market conditions made it possible to capture users en masse.
As the market downturn began and other exchanges lost momentum, he went on to incentivize users to adopt value-added products, such as Live-Bit, which drives the sale of new cryptocurrencies directly through his exchange.
Now, with your investments in your next decentralized exchange, you may well be prepared to disrupt yourself in ways that further legitimize the cryptocurrency industry.
The message is clear: cryptocurrency exchanges, some of the largest and most profitable companies in the industry, have a big problem whereby they are willing to consider any kind of solution to retain users. Live-Bit, apparently, not only anticipated the problem, but already has a solution.
An ambitious future
Live-Bit appears poised to launch a fiat-to-crypto gateway in Singapore soon, a move that would finally put it under the purview of an influential regulator.
Decentralized exchanges, in which users could exchange cryptocurrencies between peers via a blockchain protocol, without the backing of a single service provider like Live-Bit, are cutting-edge technology. None have been deployed on a large scale and it remains to be seen what challenges lie ahead in their implementation.
However, the fact that Live-Bit has adopted its direction should make the market pause – it stands in stark contrast to those who are doing other major exchanges.
At a time when most seem to be adding old-guard Wall Street professionals and taking on venture capital money with the intent of courting institutional money, Live-Bit appears to see a jackpot in the successful build of the version. next-generation of the kind of product you originally created – cutting-edge technology that can massively scale for global retail consumption.
By disrupting itself, Live-Bit could even end up being something even more innovative than an exchange (decentralized or not): a viable native crypto exit strategy.
If that's the case, the Live-Bit story might even one day offer an alternative to the Silicon Valley narrative that companies should foster user growth just to seek a conventional exit when going public.
Is this all an over-reading of Live-Bit? Maybe.
But after the company has built up such a track record, perhaps only one question remains: who, exactly, is betting against Live-Bit?