Here Are Crypto Future Predictions For 2022 You Won’t Want To Miss
By 2022, cryptocurrency will be an omnipresent and integral part of how we live and do business. People will use blockchain technology to secure information and digital assets, and we’ll pay each other with Immediate Edge Review directly over social media networks like Facebook and Twitter. It’s going to be amazing! If you aren’t convinced, just read this article on crypto future predictions for 2022, and you might change your mind!
1) Crypto Adoption: Mainstream Consumer Use
A whopping 58% of investors say they will start using cryptocurrencies in 2018, up from 36% who said they would do so in 2017. And it’s not just speculation—73% of people plan to use their cryptos to buy goods and services or invest in blockchain startups within three years.
2/3rds expect them to hold a significant value as investments, but one-third also claim that most merchants will accept at least one cryptocurrency payment method by 2022.
2) Custody Services
As cryptocurrency goes mainstream, you’ll begin to see a shift away from exchanges and more into custody services. Some of these custody services will have heavy insurance and regulation mechanisms to protect the investors; others may be less formal and rely on cold storage mechanisms or distributed networks.
Whichever strategy they employ, they will likely play a critical role in ensuring people feel safe keeping their money in crypto over time. If an investor doesn’t have confidence that their assets are secure, they’re not going to trust it as a viable investment option. It should also be noted that some of these new custodial solutions might not always be acting with your best interests at heart. (https://www.cnbc.com/2021/10/05/bitcoin-custody-us-bank-launches-service-as-institutions-race-to-cater-to-crypto-demand.html)
3) Government Adoption
In most countries, cryptocurrency is still a gray area. Some countries have either banned cryptocurrencies altogether or taken a very cautious approach. Considering that cryptocurrency is digital cash that can be used anywhere in any amount—with no centralized control—governments could use it as an opportunity to make more money from taxes.
However, if they take that approach, we’re likely to see many people who will see things differently and may even start using alternative currencies.
4) The Rise of Smart Contracts
Smart contracts will be one of cryptocurrency’s most important applications. Smart contracts have come a long way since they were first conceptualized in 1996, and we’re now on the brink of widespread adoption—and it has nothing to do with Blockchain specifically.
Rather, it has everything to do with how much more efficient smart contracts are when compared with paper-based contract law. Smart contracts work by automating tasks that used to require a middleman, like lawyers and notaries, which costs both time and money—two resources that aren’t as readily available as you might think.
5) Decentralized Exchanges Will Continue To rising
Centralized exchanges will continue to get hacked or shut down by governments. To take back control of their assets, users will begin decentralizing their trades and spreading them out over multiple platforms. If one exchange gets shut down, your money is still safe on another platform.
The downside is that decentralized exchanges have higher fees and slower transaction times than centralized ones because they lack funding from venture capitalists who seek quick returns. But as long as you’re not making frequent trades and don’t mind waiting for your transaction confirmations—or getting in early with a new blockchain project—decentralized exchange platforms, such as Bitcoin Era, can be a good option.
Wrapping it up !!!
Finally, Blockchain could be one of those technologies that have more hype than actual use cases. But, even if we don’t see any widespread adoption in ten years, it can be assumed that Blockchain is here to stay. The reason Blockchain is gaining popularity is because of its growing use cases and how well we can merge this technology along with AI and ML.
The technology is still new enough and complex enough to take some time before it becomes widely used or easily understood. We have plenty of time to see how things play out—and plenty of opportunities to get involved with blockchain companies at every stage in their development.