The Crypto Industry Is Going Through a Number of Developments That Could Attract Public Interest
Many people feel that the crypto industry is on the verge of collapse. The crypto industry attracts a lot of attention, but failed to garner widespread adoption and public interest.
The public can hesitate for a number of reasons, from stories about bad actors to a lack of understanding of the technology, philosophy and potential of the crypto industry. Is it possible that a significant trend or development is tipping the scales in favor of crypto? AskFX Innovation Circle members are speculating on some of the events and factors that they think could lead to a surge in interest in the crypto industry.
Big brands offer more digital asset experiences
Web3 will revolutionize and transform everyday activities such as shopping, ticketing, customer engagement and entertainment. Brands like Nike, Coca-Cola and Louis Vuitton offer unique experiences powered by digital assets. Non-fungible tokens can provide real utility, e.g. B. additional perks, access to the community, physical products, loyalty programs and more. – Sandy Carter, Unstoppable Domains
Loss of confidence in central banks continues
In general, confidence in government and treasuries and in central bank policies has declined. The peak of distrust was around 2015. Crypto (at least in the decentralized settlement layers) offers a viable way to access alternative stores of wealth. I don’t expect any specific event, but market forces will devalue the central money more and more over time. – Jagdeep Sidhu, Syscoin Foundation
Better consumer protection policies
As the public becomes more familiar with blockchain and cryptocurrencies, interest in crypto grows. Industry can help by raising awareness and improving consumer protection. As the crypto industry develops, it becomes more and more important to address customer security and safety concerns. Introducing effective methods to protect customers can increase interest in cryptocurrencies. – Myrtle Anne Ramos, Block Tides
BTC and ETH are steadily rising
I don’t think the public understands the crypto industry. Most people think of crypto when they hear the word bitcoin. If you are better informed, you might also think of ether. Interest in altcoins and the industry is determined by the rise or fall of these two tokens. If BTC and ETH continue to rise, public interest will increase. AyeletNoff, SlicedBrand
Ecommerce Platforms Adoption
Blockchain Technology Ecommerce Could Drive Crypto Adoption. As seen last year with eBay’s entry into the NFT market, a well-known e-commerce platform that accepts crypto could change public perceptions. Acceptance of crypto by e-commerce platforms would help legitimize the technology and allay concerns about fraud. Anthony Georgiades is Pastel Network
Real World Assets are on the Rise
Real World Assets is a trend that is already established and growing. These combine real, physical entities with blockchain. This is already happening in the real estate industry. They add tangible assets to the blockchain. This would be an incredibly efficient system, especially in terms of efficiency. Scaling would drastically reduce costs. – Ilias Salvatore, Flooz XYZ
SEC Approvals (Plus Demystification)
Crypto needs to get less scary to be accepted by the general public. SEC approvals could do a lot to reassure the public and spur a wave of acceptance. Demystification is also important. Crypto firms that want to lure Joe Public need to stop using memes and focus on simple communication. German Ramirez THE RELEVANCE HOUSE AG
Bitcoin Integration into Mutual Funds
Some of the largest asset management firms in the United States are proposing to integrate Bitcoin into exchange-traded funds and mutual funds. These proposals are attracting global attention as they highlight the potential and value of Bitcoin. - Megan Nyvold, BingX
A “killer” use case
Crypto needs a “killer use case”. After hundreds of millions or even billions of people use a Web3-based product, it will be clear that blockchain is more than just a speculative investment. This killer app, whether it’s a decentralized gaming, payment platform or social media network, would help boost adoption by showing that Web3 can be both useful and safe. – Wolfgang Ruckerl, ENT Technologies AG
Returning to crypto’s “protest” roots
Many people forget that crypto was born out of protest. Bitcoin’s first block explicitly mentions global bailouts, expressing anger at economic policies that favor institutions at the expense of the social fabric. If the same crossroads is revealed, we could see a new wave of crypto adoption. Participants will seek their financial security elsewhere. – Oleksandr Lutskevych, CEX.IO
BlackRock ETF Approval
BlackRock Exchange Traded Fund approval would lower the barrier to entry for many and ultimately lead to a massive supply lockdown. Coinbase, acting as a custodian and, to some extent, a pricing mechanism, alleviates fears of wholesale bans on crypto-fiat gateways. – Timothy Enneking, Digital Capital Management
CBDCs widespread adoption
The advent of digital currencies, decentralized by central banks and backed by governments, could spark public interest in the crypto industry. This would encourage wider adoption of digital currencies and provide new opportunities for financial inclusion and innovation. Vinita Rathi is a Systango employee.
Wallets with more features and functions that are user-friendly
Secure and easy-to-use cryptocurrency wallets or digital asset management platforms could increase crypto interest by integrating seamlessly and offering high security. User-friendly features like DeFi integration and financial incentives could attract incentive seekers and increase industry adoption and interest. – Arvin Khamseh, SOLD OUT NFTs
