Coinbase’s chief product officer has shared some predictions for 2022 relating to Ethereum’s scalability, the metaverse, decentralized finance (defi), non-fungible tokens (NFTs), and extra.
2022 Predictions by Coinbase’s Executive
Coinbase’s chief product officer, Surojit Chatterjee, shared final week 10 predictions of what the crypto trade holds in 2022. The predictions cowl a variety of crypto matters, together with ETH scalability, zero-knowledge proof expertise, decentralized finance (defi), non-fungible tokens (NFTs), and the metaverse.
Non-fungible tokens “will become the next evolution of users’ digital identity and passport to the metaverse,” the manager described, including:
User created metaverses would be the future of social networks and can begin threatening the promoting pushed centralized variations of social networks of at present.
“Brands will start actively participating in the metaverse and NFTs,” he continued. “NFTs and the metaverse will become the new Instagram for brands.” Furthermore: “Web2 companies will wake up and will try to get into Web3 … and metaverse in 2022. However, many of them are likely to create centralized and closed network versions of the metaverse.”
Regarding regulated defi and the “emergence of on-chain KYC attestation,” the Coinbase govt defined that “Many defi protocols will embrace regulation and will create separate KYC user pools.” He detailed:
Institutions will play a a lot larger function in defi participation … Growth of regulated defi and on-chain KYC attestation will assist establishments acquire confidence in defi.
The Coinbase govt additional predicted that “Defi insurance will emerge,” emphasizing that “To protect users from hacks, viable insurance protocols guaranteeing users’ funds against security breaches will emerge in 2022.”
The predictions additionally cowl Ethereum’s scalability. The govt stated:
ETH scalability will enhance, however newer L1 chains will see substantial development — As we welcome the following hundred million customers to crypto and Web3, scalability challenges for ETH are prone to develop.
What do you assume of the predictions by Coinbase’s govt? Let us know within the feedback part beneath.
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