Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.
But, do we need lots of cryptocurrencies?
More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
There is no need for the increase of number of cryptocurrencies and there is also no need for the decrease. If they want to produce new cryptocurrencies, they have to make sure that the coins they're making are not shit. Because shit coins will only confuse people and make other people's research a waste of time.
If we actually look at most of the cryptocurrencies we are seeing today, a lot of them are just shit coins and recycled ideas with the team having no mind to even want to make an attempt at all to building something in the long run and for those kind of coins and tokens, it is really not necessary.
But of course, it is a decentralized and a non regulated space and that makes it a whole lot easy for scammers to evade the space, which I believe as the market gets matured , it would change eventually as we get to see the shit ones disappear.