Many experts have agreed that cryptographic and related technologies have the potential to change global paradigms. And while this potential is widely recognized, with many advanced thinkers jumping into the blockchain ecosystem, the adoption of cryptographic products has yet to occur. But a leading Bitcoin investor expects this to change in the coming months.
Multicoin Capital Head awaits adoption of Crypto
Business Insider recently met with Kyle Samani, the managing partner of Multicoin Capital, to discuss their predictions about the cryptographic ecosystem by 2019. Although Samani hesitated to give price predictions, the co-founder of Multicoin called attention to a number of expected issues of the industry. , namely, the adoption of blockchain technologies. He explained that during 2019, he expects the launch of a series of “high profile block chain products”, which will probably attract a large number of clients, both institutional and retail.
As an example, he mentioned Tari, an open source company based in Monero and backed by Riccardo Spagni. With the code based on Monero, Tari will be able to facilitate the issuance and management of non-fungible tokens, such as entertainment tickets, loyalty points and videogame items, colossal markets that crypto could take advantage of.
The taste of adoption
By 2019, the mass cryptography industry has already acquired a taste of adoption. Overstock, an American online retailer with a new blockchain crush, recently began paying part of their Ohio state taxes through Bitcoin. Although the integration, backed by the state treasurer, converts the cryptographic payments related to the business tax into fiat immediately, such adoption has been appreciated.
Epic Games, the company behind the world-renowned Fortnite videogame, began to briefly accept Monero (XMR) for the merchandise through a payment partner. Although this innocuous integration has been closed, due to the objections of the CEO of Epic, the developer sees potential in decentralized technologies.
However, in a recent frank interview with Express U.K., Mati Greenspan of eToro said that the lack of education will continue to halt the adoption of blockchain-centric products. Greenspan, who has risen rapidly to become a leading commentator on the industry, said that now that cryptography awareness has “peaked”, education will become the main barrier to entry.
In his elaboration, he pointed out that although consumers know Bitcoin, the majority of demographics do not understand the underlying premise of the network, the value proposition and the fundamentals of technology. Therefore, Greenspan, senior eToro analyst, noted that “education should be at the top of this year’s agenda,” especially as innovative cryptographic products that change the game continue to occur.
Expect DEXs, Ethereum Competition in 2019
In the same interview, Samani said he also expects decentralized exchanges (DEX) to see a monumental career, drawing attention to Binance’s foray into this subsector. He explained that the arrival of such platforms will be a “massive change”, adding that once Binance launches its company, other leading new companies will follow.
When concluding his comments to the business environment, the main investor explained that Cosmos, Dfinity and projects with a similar premise will begin to challenge the hegemony of Ethereum’s smart contracts. He stated:
“All the new block chains aim to challenge Ethereum … I hope that by the end of the year the percentage of total developers based on Ethereum will be lower than the current one, simply because of the competition”.