In 2017, over $6.2 Billion was raised by Initial Coin offerings (ICOs) and, of the 875 companies that issued a Cryptocurrency, many were small start-ups using Blockchain technology i.e. “Bottom Up”.

However, we are now seeing multinational corporations like IBM, BMW, Google, London Stock Exchange, Amazon, LVMH, BP, Alibaba, FedEx, Facebook, Fidelity, JP Morgan, BVVA, Nike and governments embracing Blockchain technology as they realise the benefits this technology can offer.

The Mexican government is looking at using Blockchain technology and Internet of Things (IoT) to track grain, so grain producers can monitor the warehouses where the grain is stored. The company behind this project, GrainChain, is also hoping its platform will provide precise tracking, data, transparency, and reliability for grains in the supply chain. Meanwhile, the Central banks for Canada and Singapore have just successfully completed a test project to transfer Cryptocurrencies between themselves.

“The Bank of Canada and the Monetary Authority of Singapore (MAS) have conducted a successful experiment on cross-border and cross-currency payments using central bank digital currencies. This is the first such trial between two central banks, and has great potential to increase efficiencies and reduce risks for cross-border payments,” MAS stated.

As institutions and governments start implementing Blockchain technology and Digital Assets i.e. “Top Down”, we are likely to see greater clarity around regulations which, no doubt, will lead to even greater adoption as confidence and acceptance grows.