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Looking ahead 2030 – How crypto will shape the future of finance

Looking ahead 2030 – How crypto will shape the future of finance

The year is 2030. The world has changed dramatically in the past decade, especially in the field of finance. Cryptocurrencies, once considered a niche and speculative asset class, have become mainstream and widely adopted by millions of people around the world. What are the factors that have contributed to this rapid growth and popularity of crypto? And what are the challenges and opportunities that lie ahead for the crypto industry and its users?

One of the main drivers of crypto adoption is the innovation and development of the underlying technology, blockchain. Blockchain is a distributed ledger that records transactions in a secure, transparent, and immutable way. It enables peer-to-peer transactions without intermediaries, reduces costs and friction, and enhances efficiency and trust.

Blockchain has enabled the creation and proliferation of various types of crypto assets, such as Bitcoin, Ethereum, stablecoins, utility tokens, security tokens, non-fungible tokens (NFTs), and more. These assets have different use cases and value propositions, such as store of value, medium of exchange, digital representation of real-world assets, access to decentralized applications (DApps), and ownership of digital collectibles.

According to a study conducted by Grand View Research, Inc., the global cryptocurrency market size is expected to reach USD 11.71 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.1% from 2021 to 2030. The study attributes this growth to the increasing demand for crypto assets among retail and institutional investors, the growing adoption of blockchain technology in various sectors, and the supportive regulatory environment in some countries.

Popularity and Mainstream Adoption

Another factor that has boosted crypto adoption is the increasing awareness and education among the general public. More people are becoming familiar with the benefits and potential of crypto, such as financial inclusion, empowerment, privacy, and sovereignty. Crypto adoption is also facilitated by the availability and accessibility of various platforms and services, such as exchanges, wallets, payment processors, lending platforms, and more.

According to a report on Github, it is estimated that the number of crypto users will reach one billion by 2030, based on a historical growth rate of 63.2% per year. The report also identifies the key drivers of crypto adoption, such as the growth of Bitcoin and Ethereum, the emergence of DeFi and NFTs, the launch of institutional products and services, and the endorsement of celebrities and influencers.

Decentralization: The Core of Web3

One of the most significant and revolutionary aspects of crypto is decentralization. Decentralization means that no single entity or authority controls or governs the network, the protocol, or the data. Instead, the power and responsibility are distributed among the participants, who are incentivized to cooperate and coordinate through consensus mechanisms and economic models.

Decentralization is the core of Web3, the next generation of the internet that is built on blockchain and other distributed technologies. Web3 aims to create a more open, fair, and democratic web, where users have more control and ownership over their data, identity, and digital assets. Web3 also enables the development of new types of applications and services that are decentralized, peer-to-peer, and censorship-resistant.

Some of the examples of Web3 applications and services are:

  • Decentralized Applications (DApps): These are applications that run on a decentralized network, such as Ethereum, and use smart contracts to execute logic and transactions. DApps can provide various functions and features, such as gaming, social media, e-commerce, and more.
  • Smart Contracts: These are self-executing contracts that are encoded on the blockchain and perform actions based on predefined rules and conditions. Smart contracts can facilitate trustless and transparent transactions, such as escrow, swaps, and auctions.
  • Governance and DAOs: These are mechanisms and organizations that enable the collective decision-making and management of a network, a protocol, or a project. Governance and DAOs allow the stakeholders to propose, vote, and implement changes and improvements, such as upgrades, parameters, and policies.
  • DeFi: This is a term that refers to the decentralized and open financial system that is enabled by blockchain and smart contracts. DeFi aims to provide alternative and innovative financial services and products, such as lending, borrowing, trading, investing, and saving, without intermediaries or intermediaries.
  • Web4: This is a term that refers to the future evolution of the web, where the physical and digital worlds are integrated and augmented by technologies such as artificial intelligence, virtual reality, and the internet of things. Web4 will enable new forms of interaction, communication, and expression, such as immersive experiences, holograms, and avatars.

Challenges and Opportunities

Despite the remarkable progress and potential of crypto, there are still many challenges and uncertainties that need to be addressed and overcome. Some of the main challenges are:

  • Regulation and Compliance: The legal and regulatory status of crypto varies widely across different jurisdictions and regions. Some countries have adopted a friendly and supportive approach, while others have imposed bans or restrictions. The lack of clarity and consistency in regulation and compliance can pose risks and barriers for crypto users, developers, and businesses.
  • Security and Scalability: The security and scalability of crypto networks and platforms are essential for ensuring the reliability, performance, and user experience of crypto. However, there are still many technical and operational challenges and trade-offs that need to be solved and optimized, such as network congestion, high fees, hacking attacks, and human errors.
  • Education and Adoption: The education and adoption of crypto are crucial for achieving the vision and mission of crypto. However, there are still many gaps and obstacles that need to be bridged and overcome, such as the lack of awareness, understanding, and trust, the complexity and usability of crypto, and the resistance and inertia of the incumbents and the status quo.

On the other hand, there are also many opportunities and possibilities that crypto can offer and explore. Some of the main opportunities are:

  • Innovation and Development: The innovation and development of crypto are driven by the creativity and collaboration of the crypto community, which consists of diverse and talented individuals and groups from various backgrounds and disciplines. The crypto community is constantly experimenting and iterating on new ideas and solutions, such as layer-2 protocols, interoperability standards, and privacy-enhancing technologies.
  • Inclusion and Empowerment: The inclusion and empowerment of crypto are enabled by the accessibility and affordability of crypto, which can reach and serve anyone with an internet connection and a smartphone. Crypto can provide financial and social inclusion and empowerment to the unbanked and underbanked, the marginalized and oppressed, and the aspiring and ambitious.
  • Transformation and Disruption: The transformation and disruption of crypto are manifested by the impact and influence of crypto on various sectors and industries, such as finance, media, art, and gaming. Crypto can transform and disrupt the existing models and paradigms, such as intermediation, centralization, and monetization, and create new and better alternatives, such as peer-to-peer, decentralized, and tokenized.

Conclusion

Crypto is not just a technology, a currency, or an asset. It is a movement, a culture, and a vision. It is a movement that aims to create a more open, fair, and democratic world. It is a culture that values innovation, collaboration, and diversity. It is a vision that imagines a future where everyone can participate, contribute, and benefit from the digital economy.

As we look ahead to 2030, we can expect crypto to continue to grow, evolve, and mature, and to face new challenges and opportunities. We can also expect crypto to shape the future of finance, and beyond. Crypto is not only the future of money, but also the future of the web, and the future of the world.

 

 

Source: https://www.financialexpress.com/business/digital-transformation-looking-ahead-2030-how-crypto-will-shape-the-future-of-finance-3310083/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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Closing Speech by Anndy Lian: Looking Ahead 2030

Closing Speech by Anndy Lian: Looking Ahead 2030

Fast forward to the year 2030, and we find ourselves in a world dramatically altered over the past decade, especially in finance. What was once a niche and speculative asset class, cryptocurrencies have now transitioned into the mainstream, embraced by millions across the globe. What factors have propelled this astonishing growth and widespread adoption of crypto, and what challenges and opportunities lie ahead for the crypto industry and its users?

The Swift Expansion of Cryptocurrencies

At the core of the crypto revolution is the innovation and evolution of blockchain technology. Blockchain, a distributed ledger system, records transactions in a secure, transparent, and immutable manner. It facilitates peer-to-peer transactions without intermediaries, reducing costs, minimizing friction, and enhancing efficiency and trust.

Blockchain’s transformative power has paved the way for the emergence of various crypto assets, including Bitcoin, Ethereum, stablecoins, utility tokens, security tokens, non-fungible tokens (NFTs), and more. These digital assets serve diverse purposes, ranging from acting as a store of value and medium of exchange to representing real-world assets digitally, offering access to decentralized applications (DApps), and enabling the ownership of digital collectibles.

A study by Grand View Research, Inc. forecasts the global cryptocurrency market to reach USD 11.71 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.1% from 2021 to 2030. This growth is attributed to the surging demand for crypto assets among both retail and institutional investors, the increasing integration of blockchain technology in various sectors, and the favorable regulatory climate in some countries.

Rising Popularity and Mainstream Acceptance

Another driving force behind crypto adoption is the growing awareness and education among the general public. More individuals are becoming acquainted with the benefits and potential of cryptocurrencies, such as financial inclusion, empowerment, privacy, and sovereignty. The availability and accessibility of various platforms and services, including exchanges, wallets, payment processors, lending platforms, and more, further facilitate this adoption.

A report on Github estimates that the number of crypto users will surpass one billion by 2030, based on a historical growth rate of 63.2% per year. The report identifies key drivers of crypto adoption, including the expansion of Bitcoin and Ethereum, the advent of DeFi and NFTs, the introduction of institutional products and services, and endorsements from celebrities and influencers.

Challenges and Opportunities

Despite the remarkable progress and potential of crypto, several challenges and uncertainties demand attention:

– Regulation and Compliance
– Security and Scalability
– Education and Adoption

On the flip side, numerous opportunities await exploration within the crypto space:

– Innovation and Development
– Inclusion and Empowerment
– Transformation and Disruption

Conclusion

Crypto transcends being merely a technology, currency, or asset—it represents a movement, a culture, and a vision. It is a movement that strives to build a more open, fair, and democratic world. It is a culture that values innovation, collaboration, and diversity. It is a vision that foresees a future where everyone can participate, contribute, and reap the benefits of the digital economy.

Looking ahead to 2030, we can anticipate the continued growth, evolution, and maturation of crypto, with new challenges and opportunities on the horizon. Crypto’s impact extends beyond being the future of money; it encompasses the future of the web and, indeed, the future of the world.

The BCH Meet up was held in South Korea on 28 October 2023. The closing speech is made by Anndy Lian. He is an all-rounded business strategist in Asia. He has provided advisory across a variety of industries for local, international, public listed companies and governments.

The full write-up will be found at https://anndy.com.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Anndy Lian: Bitcoin Price Surges to $35,000, More Gains Ahead

Anndy Lian: Bitcoin Price Surges to $35,000, More Gains Ahead

Bitcoin, the world’s largest and most popular cryptocurrency, has been on a bullish streak lately, reaching $35,000 for the first time since May 2022. The digital asset has more than doubled in value this year as investors flock to it amid inflation fears, regulatory developments, and growing adoption.

One of the main drivers of Bitcoin’s rally is the anticipation of a spot Bitcoin exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC). A spot ETF would allow investors to buy and sell Bitcoin directly on regulated stock exchanges without having to deal with crypto platforms or custody issues.

Several companies have applied for a spot in Bitcoin ETF, including BlackRock (NYSE:BLK), WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets. The SEC has postponed its decision on these applications until November, but some analysts believe that the regulator will eventually greenlight at least one of them.

A spot Bitcoin ETF would be a game-changer for the crypto industry, as it would boost the liquidity, accessibility, and legitimacy of Bitcoin. It would also attract more institutional and retail investors to the market, creating more demand and driving up the price.

Another factor that is fueling Bitcoin’s rise is the upcoming halving event in 2024. The halving is a process that reduces the reward for mining new blocks of Bitcoin by 50% every four years. This creates a scarcity effect that increases the value of each coin. The halving also coincides with a cyclical pattern of Bitcoin’s price movements, which tend to peak about a year after each halving.

The last halving occurred in May 2020, when the reward dropped from 12.5 to 6.25 bitcoins per block. Since then, Bitcoin has surged from around $9,000 to over $35,000. The next halving is expected to happen in May 2024, when the reward will drop to 3.125 bitcoins per block. Many experts believe that this will trigger another bull run that could push Bitcoin to new heights.

One of them is Peter Brandt, a legendary trader and analyst who has been following Bitcoin since 2011. Brandt has recently shared his bullish chart that predicts new all-time highs for Bitcoin by the third quarter of 2024. He says that Bitcoin has hit its bottom at around $25,000 in July 2023 and will break out of its long-term range by mid-2024. He also suggests that Bitcoin will go through a period of consolidation or sideways movement until then.

Brandt’s chart shows that Bitcoin follows a series of bullish impulses followed by periods of correction. He expects that Bitcoin will reach around $40,000 in the short term, based on its convincing break above the $32,000 level. He then forecasts that Bitcoin will correct to around $30,000 before resuming its uptrend and reaching new highs above $70,000 by Q3 2024.

Brandt is not alone in his optimistic outlook. Other analysts have also made bold predictions for Bitcoin’s future price. Some of them include:

  • Alistair Milne, founder of Altana Digital Currency Fund, predicts that Bitcoin will surge to $45,000 depending on what happens with inflation.
  • Dan Tapiero, co-founder of 10T Holdings and Gold Bullion International, who believes that Bitcoin could reach $100,000 by 2025.
  • Tim Draper, billionaire investor and founder of Draper Associates and DFJ Venture Capital, expects that Bitcoin will hit $250,000 by mid-2023.
  • John McAfee, a software entrepreneur and crypto advocate, who claims that Bitcoin will reach $1 million by 2025.

Why I Think Bitcoin Will Drop to $29,000 Before Surging to $40,000

Bitcoin, the world’s leading cryptocurrency, has been on a roller coaster ride this year, reaching new highs and lows. As of writing this article, Bitcoin is trading at around $35,000, up from its recent low of $25,000 in July 2023. However, I believe that this rally is not sustainable and that Bitcoin will face another major correction before it can break out of its long-term range and reach new heights.

There are several reasons why I think Bitcoin will drop to $29,000 before it can surge to $40,000 and above. These include:

  • The lack of a spot Bitcoin ETF approval by the SEC
  • The increasing competition from other cryptocurrencies and technologies
  • The diminishing returns of the halving effect

Let me explain each of these points in detail.

The lack of a spot Bitcoin ETF approval by the SEC

One of the main catalysts for Bitcoin’s recent rally is the expectation of a spot Bitcoin ETF approval by the U.S. Securities and Exchange Commission (SEC). A spot ETF would allow investors to buy and sell Bitcoin directly on regulated stock exchanges without having to deal with crypto platforms or custody issues.

However, I think that this expectation is too optimistic and that the SEC will not approve any spot Bitcoin ETF anytime soon. The SEC has been very cautious and sceptical about Bitcoin and crypto in general, citing issues such as market manipulation, fraud, volatility, liquidity, custody, and investor protection.

The SEC has already postponed its decision on several spot Bitcoin ETF applications until November, but I doubt that it will grant any approval by then. The SEC has rejected or delayed every Bitcoin ETF proposal since 2013, and I don’t see any reason why it would change its stance now.

Therefore, I think that the market is overestimating the probability of a spot Bitcoin ETF approval and that this will lead to disappointment and sell-off when the SEC announces its verdict. I expect that this will trigger a downward pressure on Bitcoin’s price and push it below $30,000.

The increasing competition from other cryptocurrencies and technologies

Another factor that could weigh on Bitcoin’s price is the increasing competition from other cryptocurrencies and technologies that offer faster, cheaper, more scalable, and more innovative solutions.

Bitcoin is the first and most dominant cryptocurrency, but it is not the only one. There are thousands of other cryptocurrencies that have emerged since Bitcoin’s inception in 2009, each with its own features, advantages, and disadvantages.

Some of these cryptocurrencies are challenging Bitcoin’s supremacy in different aspects, such as:

  • Ethereum, which is the second-largest cryptocurrency by market cap and the leading platform for smart contracts, decentralized applications (DApps), decentralized finance (DeFi), non-fungible tokens (NFTs), and more.
  • Cardano, which is the third-largest cryptocurrency by market cap and a rival to Ethereum that claims to offer a more scalable, secure, and sustainable platform for smart contracts and DApps.
  • Solana, which is the fifth-largest cryptocurrency by market cap and a high-performance blockchain that boasts over 50,000 transactions per second (TPS), low fees, and interoperability with other blockchains.
  • Dogecoin, which is the ninth-largest cryptocurrency by market cap and a meme-inspired coin that has gained popularity among retail investors and celebrities such as Elon Musk.

These are just some examples of the many alternatives to Bitcoin that are gaining traction and adoption in the crypto space. These cryptocurrencies are not only competing for market share but also for innovation and development.

While Bitcoin has a loyal fan base and a strong network effect, it also suffers from some limitations and challenges that could hinder its growth potential. Some of these include:

  • Its slow transaction speed of around 7 TPS, makes it unsuitable for micropayments or high-frequency transactions
  • Its high transaction fees of around $10 per transaction, which make it expensive for small or frequent transfers
  • Its limited scalability is due to its fixed block size of 1 MB, which limits its capacity to handle more transactions per second
  • Its high energy consumption is due to its proof-of-work (PoW) consensus mechanism, which requires a lot of computing power and electricity to secure the network
  • Its lack of programmability due to its simple scripting language, which limits its ability to support complex functions or applications

These limitations could make Bitcoin less attractive or relevant compared to other cryptocurrencies or technologies that offer better solutions or features. Therefore, I think that Bitcoin will face more competition and pressure from other players in the crypto space and that this will affect its price negatively.

The diminishing returns of the halving effect

A third reason why I think Bitcoin will drop to $29,000 before it can surge to $40,000 is the diminishing returns of the halving effect.

The halving is a process that reduces the reward for mining new blocks of Bitcoin by 50% every four years. This creates a scarcity effect that increases the value of each coin. The halving also coincides with a cyclical pattern of Bitcoin’s price movements, which tend to peak about a year after each halving.

The last halving occurred in May 2020, when the reward dropped from 12.5 to 6.25 bitcoins per block. Since then, Bitcoin has surged from around $9,000 to over $35,000. The next halving is expected to happen in May 2024, when the reward will drop to 3.125 bitcoins per block.

Many experts believe that this will trigger another bull run that could push Bitcoin to new heights. However, I think that this effect will be weaker and less predictable than before.

There are several reasons why I think the halving effect will diminish over time. These include:

  • The decreasing impact of the reward reduction on the supply and demand of Bitcoin. As the reward gets smaller and smaller, it will have less influence on the inflation rate and the market price of Bitcoin. For instance, the first halving in 2012 reduced the inflation rate from 50% to 25%, while the fourth halving in 2024 will reduce it from 1.8% to 0.9%. This means that the supply shock will be less significant and less noticeable than before.
  • The increasing difficulty and cost of mining Bitcoin. As the reward gets smaller and smaller, it will become harder and more expensive for miners to break even or make a profit. This could lead to some miners exiting or reducing their operations, which could affect the security and stability of the network. It could also create more selling pressure on the market, as miners need to sell some of their coins to cover their expenses.
  • The decreasing correlation between the halving and the price cycles of Bitcoin. As Bitcoin matures and becomes more influenced by other factors such as adoption, regulation, innovation, and competition, it will become less dependent on the halving as a price driver. The halving may not be as reliable or accurate as a predictor or indicator of future price movements as before.

Therefore, I think that the halving effect will not be as strong or consistent as before and that it will not be enough to propel Bitcoin to new highs without other positive catalysts or developments.

Conclusion

Of course, these predictions are not guaranteed to come true and should be taken with a grain of salt. Bitcoin is a volatile and unpredictable asset that can be influenced by many factors beyond anyone’s control. Some of the risks and challenges that could affect Bitcoin’s price include:

  • Regulatory uncertainty and crackdowns from governments and central banks
  • Cyberattacks and hacks on crypto platforms and users
  • Technical issues and bugs in the Bitcoin network or software
  • Competition from other cryptocurrencies and technologies
  • Market manipulation and fraud by whales and bad actors
  • Loss of confidence and trust among investors and users

Therefore, anyone who is interested in investing in Bitcoin should do their own research and due diligence before making any decisions. They should also be aware of the potential rewards and risks involved and be prepared for high volatility and price swings.

Bitcoin is a revolutionary and innovative invention that has changed the world of finance and technology. It has also created a new asset class that offers unprecedented opportunities and challenges for investors and users. As Bitcoin enters its second decade of existence, it will continue to evolve and grow, and possibly reach new heights that no one can imagine.

 

 

Source: https://in.investing.com/analysis/anndy-lian-bitcoin-price-surges-to-35000-more-gains-ahead-200601620

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j