Sam Cooling
It’s Day one of the Blockchain Economy Summit – the UK’s biggest gathering of crypto companies and blockchain entrepreneurs.
Taking place in the heart of Europe’s financial capital – London, with two days jam-packed with Web3, NFT, cryptocurrency, blockchain and metaverse events.
With more than 3,000 attendees from over 65 countries gathering to join 70 leading companies in dialogue about the future of blockchain and the crypto space – crypto industry insiders revealed their predictions for the next big trends in the space.
Privacy and Self-Sovereign Identity Set To Explode
Daniel Antcliff – Head of Business Development and Operations at Gate.Io – explained how he believed the next big trend will orientate around privacy and self-sovereign identities.
“On the adoption side [of] blockchain on the more utility end – identity is something [we tried working on] wrapping up so that it doesn’t reveal personal information,” he explained.
“I’d like to see somebody bring [self-sovereign identity] to fruition – one token or that one identity asset can be passed around in a way that the end user is rewarded.
“Rather than marketing companies that sell your data for lots of money and profit from it.”
The Senior Gate.io figure also highlighted GameFi as a sector that will drive huge growth for the industry – specifically identifying the success of Roblox (and in-game currency Robux) as being the first wave of mass adoption for a new Web3 generation.
Green shoots of New SocialFi and GameFi sectors
Peter Stilwell – Head of Business Development EMEA at Coinbase – predicted that it will be a big year for privacy, DAOs, and GameFi – as he teased big launches in 2023.
“I’m pretty excited about some of the stuff people are building, and I expect some big launches this year,” he explained.
“Here in Europe people are building amazing thing, big breakthroughs – especially in infrastructure …
wallet as a service trend and the provision of developer tools.
“I think we’re gonna see huge advances made in payments – self sovereign identity and privacy are going to be big topics, more and more people involved with DAOs could be a interesting one – and this bleeds into the greenshoots of new SocialFi and GameFi sectors”.
NFTs Combined With Real World Assets
Delphine Forma – Senior Compliance Manager at BitMEX – was excited about the possibilities around real world asset (RWA) backed NFTs.
“I think there will be more centralised regulated entities – delivering more adoption, that I think will drive the development of new products out of the bear market,” explained Delphine.
“This technology is so powerful, and user-centric use-cases for this technology such as fashion and NFTs – especially in the metaverse – show this technology needs to be playful.
“When you take the example of art and NFTs, I see a future where you will be in an exhibition with NFTs displayed alongside actual work – and this creates an exotic offering where people can interact with the art”.
Education is Key to Future of Crypto
Finally, Michelle Maiuri – Marketing & Growth Director at Deepcoin Exchange, took a different tune – explaining that the priorities for this year lay in user education and regulatory outcomes.
“[2023 is] All about education and regulation,” said Maiuri.
“If we put twice the effort into education of users, half as many would have suffered in Terra or FTX – we need to double down on education”.
Related:
- IMF says Banning Cryptocurrencies Should Be an Option, Especially if Regulation Fails
- G20 Countries May Seek to Coordinate Global Crypto Regulations Claims India’s Finance Minister
- Unauthorized Crypto Asset Promoters Could Face Two Years in Jail Under New UK Regulations
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This article was written for Business 2 Community by Sam Cooling.
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