Why Crypto Winter Won't Be 2019's Defining Story

Eric Piscini is the CEO of Citizens Reserve and the former blockchain lead for Deloitte.

After launching the Deloitte blockchain practice with two friends in 2012, I moderated a panel at Money/2020 in 2013.

First, the rise of the "Other" tokens - security tokens, non-fungible tokens, stablecoins and equity tokens, all of which demonstrated the continued vitality of the blockchain community.

Second, significant investments in crypto and blockchain infrastructure from traditional financial institutions and new technology companies mean we have much stronger foundations to build on: wallets, trading technologies, custodian solutions, exchanges, broker solutions and more.

While, to a certain strain of crypto enthusiast, regulation sounds a death knell for blockchain, I think this viewpoint is misguided on two counts.

First, regulation removes and discourages the bad actors who have done such harm to blockchain's reputation.

Second, regulation proves that blockchain is here to stay.

Legislators have decided that blockchain is growing, not evaporating.

A new Howey test: The SEC's increased scrutiny of blockchain has meant that blockchain proponents have had to learn about SEC v. W.J. Howey Co., the 1946 Supreme Court case that defined securities in U.S. law.

A killer consumer app: While blockchain conferences were the killer app of 2018, we're still looking for the product that will bring blockchain's value to the non-tech, non-business consumer audience.