What awaits us in crypto and blockchain in 2022? Experts answer… The year 2020 brought a major concern to the public about Bitcoin (BTC): energy consumption. As humanity faces the threat of climate change, the most serious challenge for our planet, the trend towards greener solutions should continue in the years and decades to come. Another important trend that will definitely stay in the coming years is Metaverse. Many are confident that many brands will enter the Metaverse space this year and try this emerging industry.
What is the future for Bitcoin?
1. Alex Tapscott of Ninepoint Digital Assets Group. Alex is the managing director of Ninepoint Digital Assets Group, an investment management services provider in the blockchain technology and cryptocurrency space. Here are his views on 2022:
I think 2022 is the year of multichain. 2021 saw the rise of new layer protocols like Solana and Avalanche, which promise to develop Ethereum with faster throughput and lower fees. However, these benefits may prove not to be permanent. As they become more popular, they may suffer the same fate as Ethereum. Remember, Ethereum fees were also cheap until the network found a market for the product to match the rise of liquidity mining and other DeFi applications. All these layers will probably be full, so we need better ways to connect different protocols together. Several groups are working on multichain, including Cosmos, which supports hundreds of crypto assets worth tens of billions of dollars. 2022 is the year of Multichain Maximalism and Cosmos is leading the way.
2. Andrew Levine of Koinos Group. Andrew is the CEO of Koinos Group, an industry team that is accelerating decentralization through accessible blockchain technology. According to the expert, the year 2022 “…will be a time of war of next-generation layers with a new free blockchain, darkhorse.”
3. Beili Baraki of Nansen. Beili is a research analyst on Nansen’s platform. On what 2022 will bring to the crypto space, he says:
2022 will be a very interesting year as we see it continue and move towards mass adoption for cryptocurrencies globally. Regulation is something that is constantly talked about and reviewed in the market. As we move towards global adoption, regulations in the crypto world are now seen as positive rather than negative. More adoption may come as the regulations in the space become clear and more substantial corporate money (such as pension funds) begins to flow into the space. We’re already seeing big companies embracing the rise of the Metaverse. As a result, it’s safe to say that the next wave of adoption will come through collectibles, art, digital content and games.
4. Dave Perrill of Compute North. Dave is the CEO of Compute North, a cryptocurrency mining and infrastructure provider. Here is what the expert said about mining in particular:
After the hash rate drop in 2021 caused by Chinese miners being forced to go offline due to nationwide crypto bans, the Bitcoin hash rate has recently rebounded and hit an all-time high. Expect it to double by 2022, as major industry players are promising hundreds of megawatts of capacity will be online this year. Even if that doesn’t happen completely, we will see more than 3 gigawatts of power come online in every corner of the US.
5. James MacFarlane of Eden Network. James is head of business development at Eden Network. The expert’s views on innovation are as follows:
With the level of investment directed into the space, we are likely to see continued innovation in the chains that support the decentralized finance layer. This will likely include protocol liquidity and how it is approached, the increased availability/acceptance of multichain wallets, and how differently chains treat their users when it comes to maximum extractable value.
Web 3.0 and decentralized networks
6. Josh Neuroth of Ankr. Josh is head of product at Ankr, a scalable protocol. The predictions of the expert for 2022 are as follows:
The decentralized social network will emerge in a significant way in 2022. This is particularly interesting as Web3 users will be the owners and operators of the network, so Facebook will not be able to buy the next platform company. Digital real estate and unique items designated as NFTs will help make gaming a business for many players who are already heavily invested in the crypto and blockchain space. Now projects generate cash flow and reinvest profits into new Web3 startups.
7. Nikos Andrikogiannopoulos of Metrika. Nikos is the CEO and founder of Metrika. The expert on the year 2022 says:
As major blockchains continue to experience outages and other network disruptions, we expect to see requests from the community for transparency of blockchain network operations. Improving the reliability of these networks will not only be a major concern, as evidenced by community feedback, but will also be critical to building greater trust that will drive institutional and institutional adoption of blockchain technologies. Banks and governments will demand regulation and compliance, and so we can expect intelligence about first-layer operations to grow along internet infrastructure lines.
8. Ray Youssef of Paxful. Ray is the CEO of Paxful. He says about Bitcoin’s 2022 adventure:
There are 1.7 billion people in the world who do not have a bank account. In 2022, we can expect peer-to-peer finance to be a major breakthrough in the crypto and blockchain space as people explore the use of Bitcoin as a medium of exchange and its ability to enable anyone to access any financial network. As the use cases diversify, we will see more people unlocking the power of money.
9. Tim Draper of Draper Associates. Tim is the co-founder of Draper Fisher Jurvetson, a pioneer of business ventures in the US. Draper says about the future of crypto:
I predict Bitcoin (BTC) will reach $250,000 by the end of 2022 or early 2023. I expect the finance managers of Apple, Amazon and Facebook (Meta) to either put some Bitcoin on their balance sheets or be fired.
10. Yacht Siu from Animoca Brands. Yat is the chairman and co-founder of Animoca Brands, which creates play-to-win economies and a fairer digital framework. “Throughout 2022, growth in decentralized gaming will drive the adoption of blockchain and crypto to hundreds of millions of users,” the expert believes.