The Coinbase founder Brian Armstrong revealed his expectations about the decade ahead of us and made a few predictions that were crypto-based so let’s find out more in the latest cryptocurrency news.
In his predictions, the Coinbase founder stated that the first big development will be the rapid increase in user numbers from around 50 million now, to above 1 billion, according to his blog post. Brian predicts that in the upcoming decade, there will be only one highly scalable and with a huge capacity blockchain that will attract more users. He didn’t explain which chain this would be and whether any one of the currents in existence that is public fits the description.
The adoption of crypto assets and blockchain technology will have two chief vectors as he believes. One will be the emerging markets with unstable and undeveloped financial systems. The other will be from startups with valuable products for users. Armstrong predicts that most of the tech companies will have a blockchain and crypto component and the next decade will also see a lot of involvement from the governments into the crypto sector and maybe a rise of central bank digital currencies as well.
The crypto sector faces a huge challenge of scalability. Right now, not all of the networks are capable of carrying sufficient capacity for wider consumer adoption. Armstrong believes that the second-layer solutions will lead to scalability and the increase in the kinds of crypto startups. Those crypto startups will offer a lot more in comparison to the ICO projects that have been overwhelmed by the crowded Ethereum network. Privacy will become a key feature for the new blockchains just as the HTPPS became the default connection mode for the internet. The Coinbase founder believes there will be a new chain rising on privacy features in the upcoming years based on the tails of general skepticism for coins that veil their origins and participating parties.
The high-quality projects with good ideas will start consolidating and merging their talent thus increasing the user bases. There are a lot of tribes in crypto right now but the projects pressured by the Altcoin bear market in the upcoming decade could start to consolidate again and deliver more products and solutions. The upcoming decade will have one of the most dramatic developments in crypto backed by central banks:
“I think we will then see basket digital currencies come out, either by a consortium like Libra or CENTRE, or possibly the IMF itself.’’
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