The Bitcoin Industry in 10 Years – What to Expect?
The CEO of Coinbase, Brian Armstrong, has shared his opinions and thoughts regarding the digital currency industry. Namely, his main intention was to show what will happen with Bitcoin and how it will affect other industries. Previously, he also posted an article with an analysis of a decade.
In his opinion, developers will be able to solve the problem of scaling and limited privacy in public blockchains. The ability to scale will lead to the emergence of new applications and new products, and privacy features will be introduced into the blockchains at a basic level by analogy with HTTPS. As a result, about 1 billion people will use cryptocurrencies (950 million more than now), he concluded.
Mass adoption, Armstrong noted, will primarily affect emerging markets, where the economy is fragile, and governments and institutions will also begin to use cryptocurrencies. Most technology startups somehow use distributed registry technology, as they did with the Internet and machine learning.
The head of the most significant American cryptocurrency company said that in the new decade, we would witness the consolidation of development. Several projects that will achieve the greatest success in scaling will become the underlying infrastructure for millions of tokens through reverse forks (abandonment of their blockchains in favor of more reliable ones).
The Era of Digital Currency Speculations Won’t End
Armstrong is counting on the growing popularity of practical cryptocurrencies, although it recognizes that trading and speculation will remain in trend. The entrepreneur added that a new type of crypto start-ups would attract investments in cryptocurrencies, issue tokens for early users, turning them into evangelists, and also unite global communities much faster than traditional companies.
He is convinced that the cryptocurrency market will be compared to traditional financial markets in the context of dividing companies into exclusive brokers, exchanges, and custodians.
Armstrong did not forget to place high hopes on decentralized services – DEX, DeFi, and Dapps. If bitcoin reaches $ 200 thousand, then more than half of all billionaires will be from the bitcoin industry. Many of them will become philanthropists, as well as invest in the development of science and technology, finally suggested the head of Coinbase.