The UFC Might Show the Way for the Crypto Industry

Cage fights are part of the world of drugs, illegal gambling, prostitution and crime in general, right? Wrong. Mixed Martial Arts, also known as MMA is a fully legal market involving hundreds of millions of dollars in Pay-Per-View, advertisement, merchandise and other revenue streams.
Truth be told, this wasn’t always quite like this, there was a time when MMA was a bit of a grey, or if you will shady part of sports entertainment. The space needed a brilliant entrepreneur such as Dana White, father of the Ultimate Fighting Championship (UFC), to clean up and turn into the legitimate business it is today.
The same way cage fights emerged from hidden back room, Friday night entertainment for people with somewhat questionable reputation, cryptocurrencies came from lesser-known, sometimes risky parts of the (dark) web, regardless of the intentions of Satoshi Nakamoto.
When asked about the regulation process that took years for the UFC, Dana White had a very short and simple answer:
“We wanted to get regulated.”
The explanation is obvious, he very well knew that growing above a certain size, and doing business in general will be impossible without some sort of oversight, something that every industry needs to gain trust, to avoid bad actors and to become a healthy, reliable part of the economy.
In 2019 the crypto industry still faces trust issues, the thoughts of the general public about cryptocurrencies is something that needs some polish to say the least.
Many crypto-enthusiasts believe that regulation is something that can only bring bad things to the “nobel cause” of cryptocurrencies, however without well established, well planned regulation from governmental organizations this industry will stay in hidden back rooms, as Friday night entertainment for people with somewhat questionable reputation.