Having first bought Stellars back in 2014, the idea of cryptocurrencies being used in the mainstream seemed a long way away. As someone who works in financial regulation, I was acutely aware of the barriers to entry in the financial services sector. This is particularly true when new innovative products come to the market. Bearing in mind that regulators are more likely to be from legal backgrounds (and not technology), it is understandable that they would be resistant to opening the market to a product that they don't understand and, therefore, do not know how to regulate. In addition, large financial institutions, investment banks in particular, were against the idea of cryptocurrencies making it to the mainstream market due to the competition it would create. They voiced concerns about the long-term viability of cryptocurrencies and the associated risks. Admittedly, there are risks but with the right investment and regulation these can be attentuated. Investment banks and investment firms now seem to be positioning themselves in the cryptocurrency market. Stellar, for example, is backed by a well-known private equity firm. Some investment banks have invested in other cryptocurrencies. This seems to be a "if you cant beat them, join them" approach.
As regulators continue to understand cryprocurrencies more and large financial institutions (who have considerable lobbying capabilities) position themselves in cyrptocurrencies, it seems that the day cryptocurrencies hit the mainstream market is getting very close. When this happens, there will be a frenzy to gain market share. When this happens, the cryptocurrencies with the most dynamic infrastructure and robust governance structures will gain considerable market share while the less well structured cryptocurrencies will fade away.
Stellar - which has a great management team, financial backing from a reputable private equity firm, strong relationships with large corporates and a clear aim to being used for legitimate purposes (unlike some competitors!) - seems to have all the right elements to be one of those that rises to the very top.
