I do not like to use the word “predictions” due its connotations that can lead to speculation. Instead, I prefer the word “expectations.” The year of 2020 taught us not to make any predictions for the future, but in order to be prepared for what is coming, we should instead expect some trends that will remain throughout this year, from enterprise blockchain and central bank digital currencies to blockchain gaming and crypto art . Which of these will define 2022? To gain some insight on the matter, I reached out to different experts from the crypto and blockchain industry, asking: “What lies ahead for crypto and blockchain in 2022? What are your personal expectations for next year?”
Alan is the chief legal officer at PrimeBlock, a sustainable Bitcoin mining operation, infrastructure solutions provider and member of the Bitcoin Mining Council, with locations spread across North America.
“We’re going to see more countries adopting crypto as a legal currency. We’re also going to see central governments coming out and taking their own currencies and putting them on a blockchain. China has already said it is going to do this, which will speed up the real competition for private cryptocurrencies from a payment perspective.
Central bank digital currencies do not present competition from a store of value or inflation protection perspective because it’s still the same fiat currency, subject to the same monetary policy manipulation by central banks. It’s certainly something that is fully digital, transparent, and has both good things and some very scary things that come with it. The hope is that, at least in the United States, the dialogues around CBDCs will happen alongside maintaining the values of our society in mind, including our own privacy and control.
How China versus the U.S. will run it will differ, so the dialogue needs to consciously ask the right questions. There’s a way to get carried away with technology that really ignores the fundamental, social, political, philosophical and legal impacts it could have on society. It’s an immensely powerful tool — I’m not understating or overstating it. The government has a lot of regulatory control of the payment, banking and monetary systems now by regulating important intermediaries like banks and other entities. This is going to be directly impacting us on a micro level.”
Andre is the chief technology officer at Zebedee, which enables programmable payments and small transactions to power economies for virtual worlds.
“Nonfungible tokens completely captured the public imagination in 2021 and spearheaded the rise of play-to-earn gaming, a massive economic force. I think 2022 will see the concept evolve in new ways as people start seeing more value in having open interoperability between platforms. It will lose a lot of its get-rich-quick narrative in favor of more sustainable concepts, with Bitcoin taking a much larger role.”
Anton is a co-founder of 1inch Network, a distributed network of decentralized protocols.
“In the past two years, we saw a huge expansion in spot market volume. I expect that the decentralized derivatives market will experience more attention from market makers and other professional players in 2022. Due to the lack of crypto assets and derivatives liquidity on traditional markets, there’s going to be an opportunity for DeFi to fill in the gap.”
Daniela is the executive director of Hyperledger Foundation and general manager of blockchain, healthcare and identity at the Linux Foundation.
“2022 will again be a fascinating year for enterprise blockchain. The companies that were first to adopt the technology are starting to reap real benefits, and whole industries will move aggressively to integrate DLT and related technologies into their enterprise stack. This will raise the stakes for interoperability across permissioned and public blockchains as well as legacy systems.
Enterprise blockchain’s impact on existing markets will only be one story. There will be even bigger headlines around the businesses and business models that are emerging as companies around the world start to tap into the potential of distributed and decentralized technologies. At Hyperledger Foundation, we are seeing increasing interest in a mix of our technologies as platforms for digital identity, CBDCs, tokenization (fungible and non-fungible), cross-border payments and more.”
Hatu is the co-founder and chief security officer of DAO Maker, which creates growth technologies and funding frameworks for startups while simultaneously reducing risks for investors.
“Today, cryptocurrencies have turned popular as investable assets for all. Their position as a store of value is barely questionable. However, with crypto trying to revamp the global financial system, we need to account for the […]
source What’s ahead for crypto and blockchain in 2022? Experts Answer, Part 2
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