to a lesser extent , to enjoy uncontrolled growth and at the same time set it on a collision course with regulators . The future of crypto continues to be uncertain , not least with bitcoin trading almost 60 % down on its November 2021 highs ( at time of writing ), but Iskandar Vanblarcum continues to be bullishly optimistic .

“ Despite the perceived challenges , it is a very exciting time for the space with thousands of entrepreneurs building on this open , permissionless system and the future is certainly bright ,” he says . “ There is certainly also more work to be done with the current protocols and companies in the space . There ’ s lots of talk of the next generation but by focusing on the hereand-now we can build better products that work for the future . Ultimately , the success of blockchain applications will be driven by adoption and engagement from users .”

One such innovative application is Mode , an e-commerce payments platform that allows merchants to accept payment in bitcoin through its Pay With Mode feature and gives consumers cashback in bitcoin as a reward . It takes away investment hesitancy associated with cryptocurrency – consumers are still curious about digital assets but are reluctant to part with their own cash to get involved , particularly with inflation and energy prices rising . Mode allows them to own cryptocurrency while only spending money on their normal purchases .

Mode ’ s CEO , Rita Liu , explains that because digital assets can be traded on the open market , they represent a more transparent and more attractive value proposition than traditional points-based loyalty schemes . She hopes that the company will expand to offer different crypto tokens and is also exploring other payment avenues , including going into bricks-and-mortar retail using QR codes or offering account-to-account ( A2A ) payments using open banking .

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