Some credit analysts are comparing cryptocurrency frenzy to the gunslinging era, where bulls are fighting bears in the markets and wild price swings can make or break a millionaire overnight. So the start of 2018 is the ideal time to take a step back and assess the situation more calmly.

We are currently in an exciting era in which boundaries are being broken, with the brains of millennial whiz-kids fizzing with innovative ideas, and mainstream financial and business sectors dipping their toes into the cryptocurrency markets. On the other hand, phishing and hacking attacks have escalated, with scammers and unscrupulous pump-and-dumpers taking quick advantage of the unregulated cryptocurrency network.

For blockchain and fintech to be universally accepted, such problems will need to be overcome, and many governments and financial institutions are going to be considering this in the coming year. Safeguards need to be set up to protect investors, with full disclosure and trustworthy, third-party analysis. Regulations must be introduced to prevent misinformation and insider trading, and technology used to combat money laundering and the use of fake identities.

The traditional regulatory framework doesn't work for Distributed Ledger Tech and must be modified, but there’s no reason why the blockchain and cryptocurrency experts can't formulate some form of self-regulation before the governments inevitably step in.