Blockchain and decentralization is here to stay, but in a world that’s changing this fast, predictability is hard to come across.
Especially in the last couple of years, new blockchain technologies have taken off and while we’re still in a pioneering phase of Web 3.0 likened more to a wild west allegory, we’ve tried to anticipate where this could all be going. Dear reader, let’s dream together:
Only 10% of all cryptocurrencies and the underlying projects existing today will still exist in 10 years and the top 3 blockchains will have 80% of the market. The ones that succeed will do it thanks to low fees, security, speed and UX.
Crypto payments in e-commerce and at POS will be common, probably using crypto wallets integrated with card payment solutions. Merged wallets are also likely, between bank/vanilla wallets and crypto wallets.
Transaction fees will be close to nil for all types of transactions, including cross-chain, especially compared to today’s bank charges and especially for cross border transactions and non-EU transactions
Regulation will be adopted in most developed countries, but authorities will still favor traditional financial companies. However, large crypto entities will have their own established lobbying mechanisms and will be more likely assimilated to large corporates
CBDCs will be launched in most developed countries, serving as basis for traditional banks and other financial corporates to adopt blockchain faster and with more manageable risk
Financial market consolidation will be disrupted, as blockchain corporates will acquire traditional financial giants that were unable to adapt to the new medium
We will all use NFTs at least once per day. I have a feeling this will be the subject of a different article
Play-2-earn gaming will increase quality of life for millions of people in impoverished countries (mainly from Asia and Africa)
The metaverse will be a booming customer interaction channel, where most global brands will be present
NFTs will be widely used by businesses to disintermediate, raise funds, provide benefits to customers, create engagement and other use cases that we are not even aware of now.
Crypto, NFT and tokenized securities will represent a huge opportunity for small businesses to crowdfund, raise capital and grow to an extent that is not possible today, and it will be done remotely, with very low costs. Blockchain crowdfunding platforms will boom.
Consumer lending and SME lending will be a much bigger part of DeFi in the future, with bank level KYC and credit risk policies
New specialized services and new industries will appear, merging the blockchain world with the real world and traditional businesses; professional services the likes of management consulting, assurance, cyber-security, legal, marketing, will flourish with blockchain businesses
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Chilli Financial Consulting SRL
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