The older I get, the more challenging it is to stay up to watch the ball drop. However, to stay young, I gave my daughter a ticket to EDC and told her I would attend. If you don’t know what EDC is, check out the link EDC 2020. We will be joining 400,000 others with our Totem poles and we’re getting a group together for the Las Vegas tour in May. So hit me up if you would like to join the party. Although it is sold out, I can tell you how to attend for FREE!
How appropriate it is to offer our readers a 20/20 vision of 2020. We will only know the results in 2021 using our 20/20 hindsight. But until then, here are the 4 top predictions. In my opinion, standing in the shoes of 2021, overall it will be the ballistic rise in enterprise adoption and production environments. The speed and sustainability will establish legitimacy to the technology.
1. Stablecoins are Real and they are not going away.
It is now a race. J.P. Morgan has a quick start out of the gate with Libra proceeding more slowly. Utility settlement coin Fnality, which is backed by banks like UBS, Barclays, and BNY Mellon are among others. The consumers, merchants and investors are looking to weave these new forms of currency into our economy as the private sector and enterprises have started to adopt them as a medium of exchange internally. The US government is wrestling with regulations as other governments such as Dubai, Russia, Sweden and Japan have been tamed with the IRS Ruling.
2. Enterprises will be Caught Off Guard as the Chinese Accelerate
We have all heard the big news with the largest deployment of blockchain to date - Walmart Canada, developed by our partner DLT Labs (full disclosure), along with the dominant work of JP Morgan and many others. But the real news this year will be focused on the Chinese as the Central Bank Digital Currencies (CBDC) develops the Crypto-yuan. China is serious about launching its Digital Currency/Electronic Payments initiative. The Chinese are now publicly embracing blockchain as "strategically important". Christine Lagarde, serving as President of the European Central Bank, is combating this stating the “EU should develop a zone wide blockchain and cryptoasset platform”.
3. Expect to see Dramatic Innovation in the Decentralized Financial (DeFi) Space with Security Tokens.
It’s just a matter of time until Security Token issuance surpasses IPO’s, and when the markets return to fundraising, it will be a more structured mechanism than previously witnessed with more mature platforms of issuance and settlement.
4. Interoperable Systems and Protocols will begin to Flourish.
Protocols such as Tendermint, Cosmos, Parity, Substrate and the like will gain traction. A multitude of interoperable systems rather than Hyperledger Fabric for most enterprise solutions will start to be considered. The internet of Blockchains will emerge from the whispers of the obscure.
We will just have to wait until 2021 to see if we are correct so until then, focus on your dreams and take massive action to transform them into reality. Remember the expression, some people make things happen, others watch them happen and the rest ask themselves…”What's happening?”
Be the leader you are committed to be and win!
Happy New Year and Peace,