This week, the crypto asset management platform, Blox, announced a new addition to their product lineup. Blox Business is being hailed as the “QuickBooks of crypto” because of the way that it allows companies to compile all of their crypto assets into a single platform.

While businesses with traditional financial assets have enjoyed management platforms for a long time, Blox is the first business-oriented asset management platform for cryptocurrencies. The crypto ecosystem is rapidly expanding as it transitions from an entity relegated to obscurity to an industry worth more than $400 billion, and it requires organizational tools to flourish.

The Crowded Crypto Space

Cryptocurrencies and their accompanying economy are relatively new compared to other financial vehicles that have been around for decades or even longer. Although Bitcoin launched in 2009, it remained a niche preoccupation for only the techiest of the tech-savvy. It was a grand experiment in rebellion, technology, and community, and, nearly a decade after it launched, it finally began attaining serious traction. Its price rose precipitously throughout 2017, and it topped out around $20,000. At its peak, Bitcoin had a market cap in excess of $300 billion.

Impressively, that’s only half the story. There are more than 1,500 other cryptocurrencies that imbue a wide range of values and characteristics. This list includes everything from Ether, the utility token that powers the popular Ethereum blockchain, to Dogecoin, the farcical digital currency that still manages a market cap of nearly $500 million.

These digital currencies are traded across a smattering of crypto exchanges that don’t have a unified list of offerings. Instead, crypto communities have small celebrations when their favorite cryptocurrencies are added to an exchange. Moreover, users are storing their crypto assets in a variety of digital wallets that frequently can’t communicate with one another.

In addition, there is an array of ancillary services that participate in the crypto economy. According to Reuters, there are well over 200 crypto hedge funds that are using this investment approach to turn significant profits through collective crypto investment. The Wall Street Journal notes that crypto hedge funds invested $2 billion in crypto in 2017, and their efforts were rewarded. As the Journal notes, “Reports that one of the largest…was counting its returns in tens of thousands of percentage points hardly hurt their popularity.”

In other words, there are a lot of companies that have acquired a considerable amount of crypto since last year.

Managing the Chaos

It seems like everything about crypto is exciting and enticing, but very little could be considered easy. Buying and selling cryptocurrencies is a challenging task, especially when pursuing so-called alt-coins. Investors are left navigating the many disparate crypto platforms in search of a unified strategy.

That’s where Blox offers a practical solution. Their mobile app or web platform allows users to manage all of their crypto assets from a single screen. With just a few taps on the screen, it’s possible to check account statuses for several different crypto exchanges and to access account balances for a variety of crypto wallets. Meanwhile, users also have access to powerful research and analytics tools that are designed to give businesses a better understanding of their asset’s performance.

Fundamentally, Blox Business is a collaborative product, so representatives from different aspects of the company can view and manage a synchronized presentation of a company’s crypto assets.

The Blox Business rollout includes three plans for supporting their customer base. For individuals with crypto assets between $1 and $2.5 million, Blox offers a “high net” plan that is shareable with two people and provides weekly reporting on asset performance. For companies, Blox provides a “business” and a “corporate” plan where the higher-tiered corporate plan allows for more collaborator as well as providing some additional bells and whistles for its users.

This system is already being utilized by several crypto startups including eToro, Wings, CIVIC, Coinsillium, Aeternity, Chainlinker Capital, Startup Token, and several others. Collectively, Blox is helping clients manage more than $2 billion in crypto assets, and the proliferation of crypto adoption would suggest that they will expand significantly this year.

How it Works & Why it Matters

Blox is powered by their native CDT token, so the platform is equipped and managed by the blockchain. There are usability, reliability and security features that accompany such a designation, but its most important role is as an organizational platform.

Crypto is on the brink of breaking into the mainstream business sector. Major financial institutions and prominent exchanges are beginning to offer Bitcoin-related products, and many professionals are becoming aware of crypto’s transformative possibility in the modern economy.

However, crypto is unlikely to attain all of its possibilities if it is an unmanageable mess. If the process is too complicated, individuals and especially businesses will be slow to adopt, or they may not adopt at all. The latest Blox Business rollout provides a platform that strives to solve this problem, and nothing short of crypto’s future success might be on the line. Fortunately, the management process just got a whole lot easier.