Crypto and Blockchain Predictions for 2022

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2021 has undoubtedly been the year that blockchain and cryptoassets moved from a fringe topic and emerging conversation to a mainstream idea and element that moved into the conversation in traditional financial markets. That said, and even taking into account the rapidly increasing market capitalization of bitcoin and other cryptocurrencies, there is still significant ambiguity regarding the future of this industry. Even when policymakers and policymakers have started to make substantial progress in both understanding and dealing with cryptoassets, great ambiguity remains. Predicting the future is always tricky business, and this is especially the case when trying to forecast or predict a space that is changing as fast as blockchain and cryptoassets.

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That said, it’s the time of year for listings, predictions, and forecasts, so let’s take a look at some of the things that could happen in 2022.

NFTs will get boring. This might seem a bit difficult to some readers, especially since there is so much that is misunderstood by the mainstream market in terms of how non-fungible tokens (NFTs) work and value. What is often missing in current conversations around NFTs, and a direct result of soaring prices, is the true value and use case of NFTs.

NFTs, in their truest form, represent digital proof of ownership secured by an underlying blockchain. As increasing amounts of information and data – both at the individual and institutional level – are stored in a virtual format, it makes sense that securing these records becomes a priority in the future.

Not as scintillating as watching NFT prices wobble, but blockchain-enabled ownership appears to be the future of NFTS for mainstream adoption.

Stablecoins will be mainstream. Stablecoins, whether enjoyed by everyone in the crypto community or not, appear to be the most viable medium through which the adoption of crypto by non-experts and the mass market will begin. According to the President’s Task Force report, the use of stablecoins increased by 500% between October 2020 and October 2021, and it does not seem likely that this rate of adoption will decrease. The main advantage and attraction of stablecoins is the stability – unsurprisingly – offered by many of these crypto assets, allowing crypto to be used as a medium of transaction versus speculative investment.

As the timeline moves to 2022 and geopolitics continue to influence and partially drive the conversation about cryptoassets, the rise in stablecoins is a trend that cannot be ignored. On the contrary, and leading to the next point of conversation, is that stablecoins and other crypto assets connected to external assets appear to represent the next iteration in the adoption of traditional crypto.

Crypto payments are here to stay. With the adoption of crypto-asset payments by large organizations such as PayPal PYPL, Visa and Mastercard MA in 2021, the trend towards using crypto-assets for transactional purposes appears to be permanent. The technology behind existing aspects and applications in the market – from decentralized finance (DeFi) to NFTs, has proven itself time and time again.

The technology is working and the applications of said technology are just beginning to be recognized by the mainstream and non-specialist market. Stablecoins, if mined as advertised, provide an understandable and reasonably stable (no pun intended) way for individuals and institutions to enter the industry. Stablecoins may not be the preferred iteration of cryptocurrency by some in the bitcoin community, but will play a vital role in the future.

Bitcoin will reach 100k. This may seem like a relatively conservative estimate of the price of bitcoin in some circles, but it should be noted that in 2021, the price of bitcoin has exhibited some of its historic volatility, ranging from lows of around $ 30,000 to highs. historical accounts of nearly $ 70,000. Aside from market volatility and seeking to remain as objective as possible, the $ 100,000 bitcoin case appears to have some foothold.

Rising inflation, continued monetary easing around the world, and the proliferation of crypto-assets all point to the following conclusion; crypto-assets are here to stay. What form or end result cryptoassets take remains uncertain at this point, but the integration of cryptoassets has already taken place. That said, and understanding the interest and appetite for growth-oriented assets seems to point to an upward trajectory for bitcoin and cryptoassets going forward.

If 2021 was the year that blockchain and crypto-assets became a dominant topic of conversation and analysis, the coming year looks set to be the year that regulations and rules catch up with market realities. . It is still too early and far too early to predict the evolution of the blockchain and cryptoasset industry, but the underlying trend is clear; these technologies have become widespread. Regardless of the price changes for specific tokens or coins, it is clear that understanding and acceptance of cryptoassets is expected to accelerate the future. Individuals, investors and business owners would be well advised to keep an eye on this space as the timeline switches to 2022.

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