2021 was the year, unarguably, that blockchain and cryptoassets moved from a fringe topic and emerging conversation to a mainstream idea and item that has moved to the mainstream financial markets conversation. That said, and even taking into account the rapid rise in market capitalization of bitcoin and other cryptocurrencies, there is still substantial ambiguity surrounding the future of this sector. Even as regulatory and policy makers began to make substantial progress in both the understanding and treatment of cryptoassets, much ambiguity remains. Predicting the future is always a trick business, and is especially so when trying to forecast or predict a space that is moving as fast as blockchain and cryptoassets.
That said, it is it the time of year for lists, predictions and forecasts, so let’s take a look at some of the things that might happen in 2022.
NFTs will become boring. This might strike some readers as a bit of a reach, especially since there is so much that is misunderstood by the mainstream marketplace in terms of how non-fungible tokens (NFTs) operate and are valued. What is often missed in the current conversations around NFTs, and a direct result of the skyrocketing prices, is the true value and use case of NFTs.
NFTs, at the truest form, represent digital proof of ownership that is secured by an underlying blockchain. Since increasing amounts of information and data – at both the individual and institutional level – are stored in a virtual format, it makes sense that securing these records will become a priority moving forward.
Not as scintillating as watching prices for NFTs vacillate, but blockchain enabled ownership appears to be the future of NFTS for mainstream adoption.
Continue reading: https://www.forbes.com/sites/seansteinsmith/2021/12/20/crypto-and-blockchain-predictions-for-2022/?sh=56c81f972ecd
That said, it is it the time of year for lists, predictions and forecasts, so let’s take a look at some of the things that might happen in 2022.
NFTs will become boring. This might strike some readers as a bit of a reach, especially since there is so much that is misunderstood by the mainstream marketplace in terms of how non-fungible tokens (NFTs) operate and are valued. What is often missed in the current conversations around NFTs, and a direct result of the skyrocketing prices, is the true value and use case of NFTs.
NFTs, at the truest form, represent digital proof of ownership that is secured by an underlying blockchain. Since increasing amounts of information and data – at both the individual and institutional level – are stored in a virtual format, it makes sense that securing these records will become a priority moving forward.
Not as scintillating as watching prices for NFTs vacillate, but blockchain enabled ownership appears to be the future of NFTS for mainstream adoption.
Continue reading: https://www.forbes.com/sites/seansteinsmith/2021/12/20/crypto-and-blockchain-predictions-for-2022/?sh=56c81f972ecd
