I think this is a massively intelligent move by QSP and shouldn't be underrated. Let me explain from my understanding:
- Asia, in general, is extremely bullish on crypto.
- Check out how much more a BTC or ETH or any crypto costs on a Chinese/Korean/Japanese exchange. The price, relative to other factors such as market cap/volume, naturally reflects how much individuals believe in it. To be clear, I'm talking about when comparing different exchanges in different parts of the world. (Obviously when comparing cryptos to each other on the same exchange, the highest priced coin is not the best coin)
- A few days ago the prices/volume on CoinMarketCap's website fell drastically because they stopped inputting information from Korean exchanges. So much so, that people panic sold because they thought some cryptos were completely crashing and were in free fall. That's how big the market is in Asia.
- Many Asian companies already have partnerships with a variety of different cryptos. They don't seem as hesitant as a lot of American companies to jump into the market and invest in projects they believe in. I think many will seize the opportunity to invest in QSP after meeting with the team and realizing its massive potential.
- The Chinese government recently announced that a new area being dubbed "The New Heart of Chinese Tech" will use a certain crypto as the national standard for blockchain. It doesn't matter which one, the point is that even governments in Asia are partnering with cryptos.
This is great news for anybody that is holding QSP. Asia is extremely bullish on crypto. Individuals, companies, and even governments have proven they strongly believe in crypto being the future. Asian companies investing in QSP could hypothetically lead to more individuals in Asia (who make up a sizable portion of crypto investors) investing due to the potential partnerships with companies that not only have brand recognition to them, but also are companies they trust. (For instance, look at the boom in the American market that occurred with XRP after American Express partnership, or XLM when IBM backing was announced)
I feel the need to say that I didn't write this post to hype up or pump QSP. The current price or how it's affected by this news doesn't matter to me. I'd much rather QSP's chart show consistent and healthy growth over time than to increase by 1000% overnight just to crash a week later.
I wrote this because every day there is more news about every crypto, so it's become very easy for people to not properly understand the consequences of these announcements. I just wanted to share my personal opinion with the community on how important QSP's participation in the SmartContract Tokyo Meetup is. This is to generate discussion and a conversation. I'm very curious to hear all of your thoughts!
If 2017 was the year of blockchain awareness on a global scale, 2018 is the year of development, actual use case and infrastructure. Smart contracts will need to be audited if we want scalabilty, and Quantstamp is the only one that does that.
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