In this blockchain forecast, senior execs say a number of key developments for usability, regulation and stablecoins will take shape in 2020.
Industry execs believe innovation in blockchain will continue to unfold at a steady clip in 2020.
Among key expectations from blockchain market participants are usability, regulation advancement and continued expansion into finance and related fields, to name a few.
Along with this, the upcoming bitcoin halving event in May is projected to cause bitcoin prices to spike as the cryptocurrency consequently becomes more scarce.
Looking ahead into next year, the Investing News Network (INN) spoke to key blockchain sector participants about their key projections going into 2020. Here’s what they had to say.
Blockchain forecast 2020: Decentralization changing competitive dynamics
Claude Waelchli, CEO of Tokenyz, said that the growth opportunities between blockchain and finance are still remarkable. “If you look at global asset markets, real estate, debt and equity, we’re roughly speaking at about US$600 trillion in potential,” he told INN.
This is centered around the notion that any asset could have the potential to be tokenized. Currently, several outdated pain points still exist within the financial system. These include regulatory requirements, know your client, transfer agents, trade settlement times and clearing establishments. Swift codes, for example — which are used to identify banks in a money transfer process — are still a primary system and they are 50 years old.
“The potential is there where we don’t have to rely so much anymore on institutions to carry out this function,” said Waelchli. Blockchain has the potential to significantly diminish these roadblocks through smart contracts. “You’re not…