As the final gifts are bought and wrapped, and the sherry begins to flow, a question is hot on the tongue of families around the world this holiday season: When will you put down your phone and stop checking cryptocurrencies?
Little do they understand the woes of a turbulent month of bearish Bitcoin divergence, nor do they understand the endless possibilities of what could happen next; Only one thing is for sure: it's Christmas and it's time to enjoy it.
In the holiday spirit, Coin Rivet has compiled a barometer reading of crypto market experts sentiments for 2022, so you don't have to this holiday season.
Web 3.0 users will take center stage
For many of the experts, Web 3.0 has been shelved this year, although the importance of the subsector will continue to grow until 2022. Web 3.0 focuses on extending the usefulness of the user in a decentralized capacity and naturally this will place users as the central focus within emerging technology.
Julian Sawyer, CEO of Bitstamp - the oldest crypto exchange in the world, wanted to affirm the view that customer interaction is a vitally human component of high-tech systems.
"Especially in crypto, we use technology to power our products and our business, yet our customer service is a space where we can be human," he explained.
โThe technical jargon of our industry is what leaves customers confused or frustrated and we strive to be a place where people can enter the market with confidence.
โIn 2022, the focus should be on innovative products that provide a better customer experience, not on using technology to separate potential customers. As more people talk about metaverses, cyborgs, and alternate realities, I bet people will want to talk to real people. "
And Matt Zhang, the founder of Hive mind Capital (a $ 1.5 billion crypto fund built on the foundation of Algorand), agrees with this view: Adding the decentralized autonomous organizations (DAOs) will revolutionize user engagement in the future of the industry, and the tech sector. will be the first.
"In 2022, we will see more companies explore alternative governance models using DAO and blockchain technology," Zhang highlighted.
"This trend will be particularly obvious in the consumer technology sector, where consumer feedback on products determines the longevity of the companies that provide those services in the first place."
Institutional flows to cryptocurrencies will continue
Many have been quick to label 2021 as the year of institutional crypto adoption, yet experts seem to suggest that this 'moment' is far from over amid economic concerns and the current state of adoption.
Diogo Monica, President from Anchorage Digital, the first federally licensed crypto bank, explained how institutional adoption of crypto represented a generational wealth transfer that is evident in a mature multi-asset class industry.
โIt is no longer just about speculative investments in Bitcoin or Ethereum; we are talking about NFT, DeFi, remittances, preservation of capital and many other verticals โ, explained Diogo.
โWe will also see that Bitcoin will continue to act as a hedge against inflation, which continues to be important as rates go up.
"Finally, banks and fintechs will continue to add support for crypto services across the board, as 2021 has shown us that the massive transfer of wealth to the millennial generation is well advanced and their needs are very different from their needs. predecessors ".
And Matthew Gould, CEO from Unstoppable Domains, a leading NFT domain name platform, highlighted how the outstanding performance of stablecoins in 2021 demonstrated the genuine utility of cryptocurrencies for both individuals and banks.
"Stablecoins had a great year in 2021, reaching a market capitalization of over $ 152 billion. I predict that by 2024, the total market capitalization of stablecoins will reach one trillion dollars, "said Gould.
โThe biggest thing that will win over crypto skeptics is utility, and stablecoins are the best example of this: stablecoins represent all the good things about crypto without the speculation or FOMO aspect, especially when you look at the coins. stablecoins regulated as USDC.
The NFT and Metaverse hype is here to stay
Kosala Hemachandra, the CEO from MyEtherWallet, he believes that 2022 will spawn a new wave of NFT hype as real use cases finally emerge and become reality.
"In 2022, I expect physical items like car titles and house deeds to become NFT," Hemachandra said.
โThis will introduce a whole new game for cryptocurrencies. NFTs are easy to understand, similar to real world collectibles.
"Every wave of NFT brings something new to the table, which means we haven't even seen the full glory of NFTs yet."
Speaking to the metaverse, Colin Pape (Founder of Presearch), argued that 2022 would be a battlefield year in which centralized entities and decentralized networks would vie for ownership of online interactions.
โOur collective shift to the metaverse will continue to accelerate. This raises great concerns about privacy, โPape explained.
โIt is not just your Facebook account, it is a change so that everything is online. Centralized companies like Facebook, Google and Amazon will compete for control of our digital lives, so we must focus on building a future that is net positive.
โThe best way to do this is by offering alternatives to large technology platforms. As we move into a future in the metaverse, we must prioritize open source decentralized platforms and educate people about alternatives to the large centralized technology platforms they use every day. "
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