With over 600 cryptocurrencies out there, each with their own branding and identity, do we need a better unifying brand to represent them all?
When the mainstream media turns its focus towards digital-currencies, the buzz word is almost always Bitcoin. No matter what the subject really is, the story gets entangled with the horror stories of exchange thefts, darkweb dealings, and speculative bubbles, that the media has reported on before.
How can positive stories about other cryptocurrencies, altcoins, and successes based on the underlying technology get fair representation in the wider world?
One solution would be the eventual rehabilitation of Bitcoin itself. If the enthusiast dream of mainstream adoption occurs, and the “good news” stories continue growing in size and pace, then we would also see an improved media representation of Bitcoin itself.
Alternatively a more proactive approach is not only possible, but also preferable to a passive game of wait-and-see. To achieve this though, the digital currency community needs to come together more strongly in order to represent itself as a unified group speaking as one.
This then is where having 600 cryptocurrencies, and associated communities, becomes the problem.
How can the likes of Cat Coin get along with DogeCoin, or more seriously how does an advocate of Dash (having undergone its own rebranding from DarkCoin) work with a proponent of a lighthearted effort like BBQCoin to further their mutual interests.
Regardless of their differences in scope and ambition, all cryptocurrencies will face similar problems as more law makers and regulators begin imposing restrictions and conditions upon digital currency creators and users, so this cooperation is truly important.
In order to speak-as-one, digital currencies need to have a single identity to rally behind, and to represent the entire eco-system to the world. This is where the work of Brand Me Crypto comes in.
Setting out on a mission to give cryptocurrencies a single brand identity, the start-up has been running an open submission competition to agree upon a logo and brand identity for cryptocurrencies as a collective. The task is almost complete, with the final six entries now placed for final voting on BMC's polling page.
Through having a singular identity that crypto users can point to, and also use as an umbrella under which to easily group the world altcoins together, a brand identity could make the world of cryptocurrencies much more powerful.
Please take our poll below and let us know your own thoughts on whether cryptocurrencies need a better collective identity.
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