is attracting a ton of attention,

引起了極大的關注，

but is it ready for the mainstream?

但它是否已經準備好成為主流？

JPMorgan Chase CEO Jamie Dimon recently called Bitcoin

摩根大通的 CEO Jamie Diman 近期將比特幣稱作

a fraud and said that cryptocurrency prices

一個騙子，並說密碼貨幣的價值

are in a bubble that will eventually burst.

正朝泡沫經濟的方向前進，且最終將會破裂

Many investors have stayed on the sidelines

許多投資人都仍舊持觀望態度，

as cryptocurrencies are seen as too volatile

因為密碼貨幣看起來太不穩定

and don't have the safeguards that most financial assets do.

且並不像其他金融資產一樣擁有防護措施

A number of hedge funds, however, are investing

然而不少避險基金被用來投資於

in cryptocurrencies, and Goldman Sachs is reportedly

密碼貨幣，且據傳高盛

exploring how it can help clients trade digital tokens.

正在探索如何幫助客戶交易數字代幣

Other companies are stepping up efforts

其他公司則致力於

to bring cryptocurrency to the mainstream,

將密碼貨幣導入主流，

opening regulated exchanges, creating future's contracts

開放經監管的交易、創造未來合約、

and attempting to list exchange traded funds.

並希望將交易所買賣基金列為清單

The recent surge in cryptocurrency prices

近期密碼貨幣的價格成長

has coincided with a flood of interest

剛好碰上一波

about the blockchain technology behind Bitcoin,

比特幣背後的區塊鏈科技熱潮，

which uses a decentralized and public ledger

而區塊鏈科技採用去中央化並公開透明、

of transactions that can't be manipulated.

無法被操縱的交易分類帳

IBM, Microsoft and Toyota have all invested in blockchain

IBM 、 微軟、 Toyota 皆有投資區塊鍊

and are looking at potential applications

並且正在尋找潛在的應用方式，

ranging from food safety to driverless cars.

範圍涵蓋食品安全至無人駕駛汽車

So what is preventing even more widespread adoption?

所以到底是什麼阻撓了比特幣更加廣泛的應用？

Regulation, or the lack thereof.

金融管制的存在與否

In July 2017, the SEC announced that federal securities law

2017 年七月， SEC 宣布可將聯邦證券法

may apply to some cryptocurrencies,

應用於部分的密碼貨幣，

without providing concrete guidelines

且並未提供具體的準則

to determine which ones.

來決定是適用於哪些密碼貨幣

Meanwhile, China has outright banned ICOs,

同時，中國徹底禁止了 ICO ，

or Initial Coin Offerings, along with the exchanges

也就是 Initial Coin Offerings (註：首次公開發行)，以及

where coins are traded.

貨幣的交易所

Guidelines for individuals that mine and trade

適用於個人挖礦和交易密碼貨幣的準則

cryptocurrencies also vary wildly,

也非常多樣化，

with countries like Venezuela going as far

如委內瑞拉甚至會將

as putting miners in jail.

挖礦者關入監獄

So what's next in the year ahead?

所以明年的走勢將會如何發展？

The cryptocurrency community is eager for clarity

密碼貨幣的社群希望管制者

from regulators on ICOs, trading, mining and taxes.

能夠將 ICO 、交易、挖礦、以及稅收透明化

As that happens, more investors and end users

與之同時，更多的投資人及終端使用者

could dip their toes in the water.

就會來試水溫

Many have compared the current state of blockchain

很多人將區塊鏈目前的狀況

to the early days of the internet,

與早期的網路發展做比較，

a digital wild west teeming with opportunity

同樣都是充滿機會、資訊爆炸的戰場，

and just like the internet,

且就像網路，

there will likely be winners and losers.

密碼貨幣的投資下將會產生贏家與輸家