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The Chief Product Officer of Coinbase shared some predictions for Ethereum’s scalability, metaverse, decentralized finance (defi), non-fungible tokens (NFT), etc. in 2022.
Coinbase executives’ predictions for 2022
Surojit Chatterjee, Chief Product Officer of Coinbase, shared Last week’s 10 predictions for the crypto industry in 2022.These predictions cover a range of encryption topics, including Ethereum Scalability, zero-knowledge proof technology, decentralized finance (defi), non-fungible tokens (NFT) and Metaverse.
The executive described that irreplaceable tokens “will be the next evolution of users’ digital identities and passports to the virtual world”, adding:
The metaverse created by users will become the future of social networks and will begin to threaten the advertising-driven centralized version of today’s social networks.
“Brands will begin to actively participate in Yuan Festival and NFT,” he continued. “NFT and metaverse will become the brand’s new Instagram.” In addition: “Web2 companies will awaken and try to enter Web3… and Metaverse in 2022. However, many of these companies may create a concentration of Metaverse And the closed web version.”
Regarding regulated defi and “the emergence of on-chain KYC proofs,” Coinbase executives explained that “many defi agreements will be regulated and separate KYC user pools will be created.” He detailed:
Institutions will play a greater role in defi participation… The growth of regulated defi and on-chain KYC certification will help institutions have confidence in defi.
Coinbase executives further predicted that “Defi insurance will appear” and emphasized that “in order to protect users from hacker attacks, a viable insurance agreement will appear in 2022 to protect users’ funds from security breaches.”
The forecast also covers the scalability of Ethereum. The executive said:
Ethereum Scalability will improve, but the updated L1 chain will see substantial growth-when we welcome the next billion users to use encryption and Web3, scalability challenges Ethereum May grow.
What do you think of the predictions of Coinbase executives? Please let us know in the comments section below.
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