In just first five months of the year the sales of crypto currency sky rocketed at a developing pace of 13.7 billion dollar which is approximately double to that of whole year record of 2017. This report was published on Thursday two days approximately back by PwC's strategy and consulting division strategy and Switzerland-based crypto valley Association.
This done mainly due to selling of crypto curruncies for raising the funds around the world by technology startups to the investors as (ICO's) or we can say that initial coin offering which is bypassing banks or venture capital firms as intermediaries.
Blockchain is mainly a digital ledger that provides a secure way of making and recording transactions.
The all of 537 coin offerings of virtual currency topped the last year of $7.0 billion, and included mammoth offerings from telegram, a messaging service founded by Russia born entrepreneur Pavel and Nikolai Durov in 2013, and Block.one's EOS currency, as per report.
Telegram raised about $1.7 billion without its tokens being sold to public.
The conclusion to the report is that ICO's are increasingly registering their business with U.S securities and exchange commission.
