Crypto mainstream adoption: Is it here already? Experts Answer, Part 3

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What’s Bitcoin? How does blockchain work? The best way to mine cryptocurrency? We’re glad that will help you reply these questions with our fast guides in Defined part.

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cudominer

During 2020 and 2021, the number of unique crypto wallets increased at a rate of around 20 million per a year, making the count stand at around 80 million today. That means that in only two years, the number of people involved in the space has doubled. Just think about it: That’s more than 1% of the entire planet’s population! And the more people get involved, the more will follow. Isn’t that mainstream adoption? It is for me. 

nn

But that’s just my opinion. To gain more insight on the matter, I reached out to different experts from the crypto and blockchain industry, asking them: “With 2021 coming to an end, in your opinion has crypto’s mass adoption already begun? What could help it reach the level of mass adoption it needs?”

nnn”,”created_at”:”2021-12-21 18:26:21″,”updated_at”:”2021-12-21 18:32:47″,”sort”:1,”translations”:{“id”:2993,”explained_post_id”:3000,”title_en”:”Introduction”,”content_en”:”

During 2020 and 2021, the number of unique crypto wallets increased at a rate of around 20 million per a year, making the count stand at around 80 million today. That means that in only two years, the number of people involved in the space has doubled. Just think about it: That’s more than 1% of the entire planet’s population! And the more people get involved, the more will follow. Isn’t that mainstream adoption? It is for me. 



nn

But that’s just my opinion. To gain more insight on the matter, I reached out to different experts from the crypto and blockchain industry, asking them: “With 2021 coming to an end, in your opinion has crypto’s mass adoption already begun? What could help it reach the level of mass adoption it needs?”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:26:21″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3001,”post_id”:78276,”title”:”Alex Shipp of Offshift”,”content”:”

Alex is the chief strategy officer of Offshift, a decentralized application dedicated to privacy-centric storage and exchange.

nn

“It most certainly has not. Because cryptocurrency’s earliest applications involve financial applications, it has certainly been more conducive to speculation than other nascent industries and technologies. That being said, crypto’s use case potential extends far wider than the array of meta use cases we have seen in the DeFi and NFT spaces. Until DeFi begins competing with commercial banking, until publicly traded companies are shifting some portion of their shares to decentralized systems to compete with synthetics, until cryptocurrencies are used in point-of-sale transactions in place of fiat currency, adoption remains ahead of us. To that end, financial institutions exploring cryptocurrencies as hedges against inflation is exciting for the space, but it does not constitute adoption.”

nnn”,”created_at”:”2021-12-21 18:26:43″,”updated_at”:”2021-12-21 18:32:47″,”sort”:2,”translations”:{“id”:2994,”explained_post_id”:3001,”title_en”:”Alex Shipp of Offshift”,”content_en”:”

Alex is the chief strategy officer of Offshift, a decentralized application dedicated to privacy-centric storage and exchange.

nn

“It most certainly has not. Because cryptocurrency’s earliest applications involve financial applications, it has certainly been more conducive to speculation than other nascent industries and technologies. That being said, crypto’s use case potential extends far wider than the array of meta use cases we have seen in the DeFi and NFT spaces. Until DeFi begins competing with commercial banking, until publicly traded companies are shifting some portion of their shares to decentralized systems to compete with synthetics, until cryptocurrencies are used in point-of-sale transactions in place of fiat currency, adoption remains ahead of us. To that end, financial institutions exploring cryptocurrencies as hedges against inflation is exciting for the space, but it does not constitute adoption.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:26:43″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3002,”post_id”:78276,”title”:”André Neves of Zebedee”,”content”:”

André is the chief technology officer of Zebedee, which enables programmable payments and small transactions to power economies for virtual worlds.

nn

“Mass adoption is definitely picking up, especially as Bitcoin, in particular, reached new levels of legitimacy in the eyes of investors, banks, corporations and entire nations. All the attention led to more active interest among the broader public but also highlighted the need to make it easier to onboard people. I think the key to unlocking the next tier of adoption lies in Bitcoin gaming, which offers a less intimidating use case and much simpler onboarding experience for people looking to earn and use crypto for the first time.”

nnn”,”created_at”:”2021-12-21 18:27:37″,”updated_at”:”2021-12-21 18:32:47″,”sort”:3,”translations”:{“id”:2995,”explained_post_id”:3002,”title_en”:”André Neves of Zebedee”,”content_en”:”

André is the chief technology officer of Zebedee, which enables programmable payments and small transactions to power economies for virtual worlds.

nn

“Mass adoption is definitely picking up, especially as Bitcoin, in particular, reached new levels of legitimacy in the eyes of investors, banks, corporations and entire nations. All the attention led to more active interest among the broader public but also highlighted the need to make it easier to onboard people. I think the key to unlocking the next tier of adoption lies in Bitcoin gaming, which offers a less intimidating use case and much simpler onboarding experience for people looking to earn and use crypto for the first time.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:27:37″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3003,”post_id”:78276,”title”:”Chris Kalani of Phantom Wallet”,”content”:”

Chris is the chief product officer of Phantom Wallet, a Solana wallet built for DeFi and NFTs.

nn

“We’re seeing more and more people entering the space who have never used crypto before. This may not necessarily mean mass adoption, but we’re seeing a faster growth rate than ever before.

nn

Cheaper blockchains are allowing new use cases and new audiences to start to onboard and experiment with DApps.

nn

Mobile is the giant unlock for reaching the mass adoption level. Traditionally, it has been slow and expensive to use DApps — but now that it’s cheap and fast with layer one’s like Solana, we’re going to see a whole bunch of people flood the space and be able to access Web3 for the first time.”

nnn”,”created_at”:”2021-12-21 18:28:04″,”updated_at”:”2021-12-21 18:32:47″,”sort”:4,”translations”:{“id”:2996,”explained_post_id”:3003,”title_en”:”Chris Kalani of Phantom Wallet”,”content_en”:”

Chris is the chief product officer of Phantom Wallet, a Solana wallet built for DeFi and NFTs.

nn

“We’re seeing more and more people entering the space who have never used crypto before. This may not necessarily mean mass adoption, but we’re seeing a faster growth rate than ever before.

nn

Cheaper blockchains are allowing new use cases and new audiences to start to onboard and experiment with DApps.

nn

Mobile is the giant unlock for reaching the mass adoption level. Traditionally, it has been slow and expensive to use DApps — but now that it’s cheap and fast with layer one’s like Solana, we’re going to see a whole bunch of people flood the space and be able to access Web3 for the first time.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:28:04″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3004,”post_id”:78276,”title”:”Filipe Gonçalves of Ankr”,”content”:”

Filipe is the DeFi architect at Ankr, a scalable protocol built to offer multichain infrastructure for plug-and-play DeFi solutions and multichain staking for DeFi. 

nn

“With nation-states like El Salvador adopting Bitcoin and more countries considering central bank digital currencies, they will soon realize that cryptocurrencies are not just a means of payment but the native currency of a broader blockchain where they need to build their government services and eventually change the very poor foundational banking layer that exists. Things like bank settlements and trade settlements take two to three days to settle. In blockchain, this type of transaction finality is simply unacceptable, but that’s what’s happening in traditional finance. This is when decentralized applications and smart contracts can power the new economy and enable true scalability across the two ecosystems.”

nnn”,”created_at”:”2021-12-21 18:28:28″,”updated_at”:”2021-12-21 18:32:47″,”sort”:5,”translations”:{“id”:2997,”explained_post_id”:3004,”title_en”:”Filipe Gonçalves of Ankr”,”content_en”:”

Filipe is the DeFi architect at Ankr, a scalable protocol built to offer multichain infrastructure for plug-and-play DeFi solutions and multichain staking for DeFi. 

nn

“With nation-states like El Salvador adopting Bitcoin and more countries considering central bank digital currencies, they will soon realize that cryptocurrencies are not just a means of payment but the native currency of a broader blockchain where they need to build their government services and eventually change the very poor foundational banking layer that exists. Things like bank settlements and trade settlements take two to three days to settle. In blockchain, this type of transaction finality is simply unacceptable, but that’s what’s happening in traditional finance. This is when decentralized applications and smart contracts can power the new economy and enable true scalability across the two ecosystems.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:28:28″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3005,”post_id”:78276,”title”:”James MacFarlane of Eden Network”,”content”:”

James is the head of business development at Eden Network, an optional, non-consensus-breaking transaction-ordering protocol for Ethereum blocks. 

nn

“In 2021, we have seen the spark of mass adoption, but we are nowhere near there yet.

nn

Household brands like Coke and Pepsi are using ‘GMI’ and ‘NGMI’ in their social media posts, and millions of people got into crypto to buy memecoins like Dogecoin.

nn

A lot of consumers are now well aware that cryptocurrency exists; however, they still just see the base layer of coins like DOGE and Bitcoin. Mass adoption will come from the general person understanding the level of utility cryptocurrency provides.

nn

Under the surface, we are seeing a revolution of the banking and transaction settlement layer, but the general public has not seen or understood this just yet. Large brands pushing their audience into blockchain seems like a good way to move users into the space.”

nnn”,”created_at”:”2021-12-21 18:28:53″,”updated_at”:”2021-12-21 18:32:47″,”sort”:6,”translations”:{“id”:2998,”explained_post_id”:3005,”title_en”:”James MacFarlane of Eden Network”,”content_en”:”

James is the head of business development at Eden Network, an optional, non-consensus-breaking transaction-ordering protocol for Ethereum blocks. 

nn

“In 2021, we have seen the spark of mass adoption, but we are nowhere near there yet.

nn

Household brands like Coke and Pepsi are using ‘GMI’ and ‘NGMI’ in their social media posts, and millions of people got into crypto to buy memecoins like Dogecoin.

nn

A lot of consumers are now well aware that cryptocurrency exists; however, they still just see the base layer of coins like DOGE and Bitcoin. Mass adoption will come from the general person understanding the level of utility cryptocurrency provides.

nn

Under the surface, we are seeing a revolution of the banking and transaction settlement layer, but the general public has not seen or understood this just yet. Large brands pushing their audience into blockchain seems like a good way to move users into the space.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:28:53″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3006,”post_id”:78276,”title”:”Joshua Tobkin of SupraOracles”,”content”:”

Joshua is the co-founder and CEO of SupraOracles, which develops a blockchain network that uses real-time data on the financial markets for a secure interface and DeFi smart contracts.

nn

“This year has been a big one for cryptocurrency. Not only has the market made significant gains, but we are seeing increased adoption from the ongoing use of DeFi and the huge amount of interest generated from NFTs. To continue to see the market grow, we need to improve DeFi security and increase competition in the oracle space. Once these issues have been resolved, I think we will see even more traditional finance businesses moving to cryptocurrency. Also, I think that blockchain games and GameFi will likewise be a boon for our industry as we steadily march toward greater mass adoption.”

nnn”,”created_at”:”2021-12-21 18:29:18″,”updated_at”:”2021-12-21 18:32:47″,”sort”:7,”translations”:{“id”:2999,”explained_post_id”:3006,”title_en”:”Joshua Tobkin of SupraOracles”,”content_en”:”

Joshua is the co-founder and CEO of SupraOracles, which develops a blockchain network that uses real-time data on the financial markets for a secure interface and DeFi smart contracts.

nn

“This year has been a big one for cryptocurrency. Not only has the market made significant gains, but we are seeing increased adoption from the ongoing use of DeFi and the huge amount of interest generated from NFTs. To continue to see the market grow, we need to improve DeFi security and increase competition in the oracle space. Once these issues have been resolved, I think we will see even more traditional finance businesses moving to cryptocurrency. Also, I think that blockchain games and GameFi will likewise be a boon for our industry as we steadily march toward greater mass adoption.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:29:18″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3007,”post_id”:78276,”title”:”Marc Seal of Sortium and CryptoGene”,”content”:”

Marc is the CEO of Sortium, the company developing CryptoGene, a play-to-earn Web 3.0 game.

nn

“With the explosive growth in NFTs this year, I think we are now tracking toward much wider adoption of cryptocurrency, blockchain and associated technology. We are seeing Fortune 500 corporations court the NFT industry, financial and lending institutions adopt DeFi, and retail investors enter the crypto market en masse. Current reports state that nearly 20% of the U.S. is invested in cryptocurrency in some way. We are still early but are on the precipice of mass adoption.”

nnn”,”created_at”:”2021-12-21 18:29:38″,”updated_at”:”2021-12-21 18:32:47″,”sort”:8,”translations”:{“id”:3000,”explained_post_id”:3007,”title_en”:”Marc Seal of Sortium and CryptoGene”,”content_en”:”

Marc is the CEO of Sortium, the company developing CryptoGene, a play-to-earn Web 3.0 game.

nn

“With the explosive growth in NFTs this year, I think we are now tracking toward much wider adoption of cryptocurrency, blockchain and associated technology. We are seeing Fortune 500 corporations court the NFT industry, financial and lending institutions adopt DeFi, and retail investors enter the crypto market en masse. Current reports state that nearly 20% of the U.S. is invested in cryptocurrency in some way. We are still early but are on the precipice of mass adoption.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:29:38″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3008,”post_id”:78276,”title”:”Michael Kong of Fantom Foundation”,”content”:”

Michael is the CEO at Fantom Foundation, a layer-one EVM-compatible platform that is fast, scalable and secure, built on a permissionless aBFT consensus protocol.

nn

“Mass adoption has been ongoing for several years. Over time, we are seeing cryptocurrencies becoming more and more mainstream. For example, a few big pension and retirement funds in the U.S. and Australia have begun making investments in the space, something that has never happened before.

nn

We will continue to see accelerated crypto adoption as more and more mainstream companies and governments participate in it.”

nnn”,”created_at”:”2021-12-21 18:30:00″,”updated_at”:”2021-12-21 18:32:47″,”sort”:9,”translations”:{“id”:3001,”explained_post_id”:3008,”title_en”:”Michael Kong of Fantom Foundation”,”content_en”:”

Michael is the CEO at Fantom Foundation, a layer-one EVM-compatible platform that is fast, scalable and secure, built on a permissionless aBFT consensus protocol.

nn

“Mass adoption has been ongoing for several years. Over time, we are seeing cryptocurrencies becoming more and more mainstream. For example, a few big pension and retirement funds in the U.S. and Australia have begun making investments in the space, something that has never happened before.

nn

We will continue to see accelerated crypto adoption as more and more mainstream companies and governments participate in it.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:30:00″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3009,”post_id”:78276,”title”:”Rodrigo Vicuna of Prime Trust”,”content”:”

Rodrigo is the chief financial officer of Prime Trust, a blockchain-driven trust company that provides API-driven open banking solutions.

nn

“Over the past 12 months, the digital asset industry has matured significantly. From exchange-traded funds to celebrity endorsements to stadium naming rights, crypto has moved from a niche market of early adopters to more mainstream awareness. New and exciting use cases continue to emerge, and innovation continues to push blockchain technology forward, integrating with the wider financial sector by allowing crypto holders to use their tokens as payment.

nn

 To reach critical mass adoption, we need increased participation from a diverse set of investors that want access to crypto, as this increases liquidity and builds out the market infrastructure. Wealth management platforms are servicing this need by building customized solutions for independent registered investment advisors (RIAs), an area of the crypto market that is taking off. For more conservative investors, the lack of regulation in the market might be keeping them on the sidelines. To overcome investors’ concerns, wealth management platforms will need stronger compliance programs to address the advanced technological nature of digital assets such as stablecoins, clearer guidance from regulators for national banks integrating crypto, and more robust cryptocurrency crime and tax evasion laws. With more confidence among general investors, we believe crypto will continue to see strong mass adoption across sectors.”

nnn”,”created_at”:”2021-12-21 18:30:24″,”updated_at”:”2021-12-21 18:32:47″,”sort”:10,”translations”:{“id”:3002,”explained_post_id”:3009,”title_en”:”Rodrigo Vicuna of Prime Trust”,”content_en”:”

Rodrigo is the chief financial officer of Prime Trust, a blockchain-driven trust company that provides API-driven open banking solutions.

nn

“Over the past 12 months, the digital asset industry has matured significantly. From exchange-traded funds to celebrity endorsements to stadium naming rights, crypto has moved from a niche market of early adopters to more mainstream awareness. New and exciting use cases continue to emerge, and innovation continues to push blockchain technology forward, integrating with the wider financial sector by allowing crypto holders to use their tokens as payment.

nn

 To reach critical mass adoption, we need increased participation from a diverse set of investors that want access to crypto, as this increases liquidity and builds out the market infrastructure. Wealth management platforms are servicing this need by building customized solutions for independent registered investment advisors (RIAs), an area of the crypto market that is taking off. For more conservative investors, the lack of regulation in the market might be keeping them on the sidelines. To overcome investors’ concerns, wealth management platforms will need stronger compliance programs to address the advanced technological nature of digital assets such as stablecoins, clearer guidance from regulators for national banks integrating crypto, and more robust cryptocurrency crime and tax evasion laws. With more confidence among general investors, we believe crypto will continue to see strong mass adoption across sectors.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:30:24″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3010,”post_id”:78276,”title”:”Sebastian Markowsky of Coinsource”,”content”:”

Sebastian is the chief strategy officer at Coinsource, a Bitcoin ATM provider in the United States.

nn

“In 2022, we expect more countries to follow El Salvador’s lead and adopt Bitcoin as legal tender, particularly countries across Latin America and Asia. As a result, we anticipate an increase in the number of Bitcoin ATMs across Latin America, and also in Europe. As new countries adopt, it is likely U.S. dominance in the crypto industry will be reduced.

nn

Regulation of crypto will continue into 2022, which is generally a good thing. However, it must be reasonable and fairly applicable to all. We have the potential to solve compliance in many of the protocols once and for all, so we need to double down on this. The industry is on a good path to increase the standards by which it measures compliance, but there needs to be a dialogue between experts on both sides of the regulatory debate.

nn

Nefarious activity within the crypto space has been on a steep decline for several years now. Alignment on regulation, such as in the EU with MiCA, will create a level playing field that will allow for continued growth in the long term. We hope the U.S. will soon follow in providing regulatory clarity and guidelines that will keep it on foot as a key hub for global crypto innovation. 

nn

We have witnessed huge growth within the Bitcoin ATM, or BTM, industry in 2021, with global installations up by 70%. We do not see this slowing down any time soon. With so much activity in the market and the strong demand for BTMs from all sorts of known and new target customer groups, we believe that the BTM space will continue to grow at a similar, or even faster, rate. It is projected that the number of BTM installations will hit 100,000 by 2025, and we would say that this is a conservative estimate.”

nnn”,”created_at”:”2021-12-21 18:30:51″,”updated_at”:”2021-12-21 18:32:47″,”sort”:11,”translations”:{“id”:3003,”explained_post_id”:3010,”title_en”:”Sebastian Markowsky of Coinsource”,”content_en”:”

Sebastian is the chief strategy officer at Coinsource, a Bitcoin ATM provider in the United States.

nn

“In 2022, we expect more countries to follow El Salvador’s lead and adopt Bitcoin as legal tender, particularly countries across Latin America and Asia. As a result, we anticipate an increase in the number of Bitcoin ATMs across Latin America, and also in Europe. As new countries adopt, it is likely U.S. dominance in the crypto industry will be reduced.

nn

Regulation of crypto will continue into 2022, which is generally a good thing. However, it must be reasonable and fairly applicable to all. We have the potential to solve compliance in many of the protocols once and for all, so we need to double down on this. The industry is on a good path to increase the standards by which it measures compliance, but there needs to be a dialogue between experts on both sides of the regulatory debate.

nn

Nefarious activity within the crypto space has been on a steep decline for several years now. Alignment on regulation, such as in the EU with MiCA, will create a level playing field that will allow for continued growth in the long term. We hope the U.S. will soon follow in providing regulatory clarity and guidelines that will keep it on foot as a key hub for global crypto innovation. 

nn

We have witnessed huge growth within the Bitcoin ATM, or BTM, industry in 2021, with global installations up by 70%. We do not see this slowing down any time soon. With so much activity in the market and the strong demand for BTMs from all sorts of known and new target customer groups, we believe that the BTM space will continue to grow at a similar, or even faster, rate. It is projected that the number of BTM installations will hit 100,000 by 2025, and we would say that this is a conservative estimate.”

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:30:51″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:3011,”post_id”:78276,”title”:”Tim Draper of Draper Associates and Draper Fisher Jurvetson”,”content”:”

Tim is a pioneer of business ventures in the United States and a co-founder of Draper Fisher Jurvetson, a leading investment firm in early-stage tech startups.

nn

“I think anyone with a young brain already has a wallet. The rest will follow. The same thing happened with internet adoption.”

nn

n

These quotes have been edited and condensed.

n

nn

n

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

n

nnn”,”created_at”:”2021-12-21 18:32:01″,”updated_at”:”2021-12-21 18:32:47″,”sort”:12,”translations”:{“id”:3004,”explained_post_id”:3011,”title_en”:”Tim Draper of Draper Associates and Draper Fisher Jurvetson”,”content_en”:”

Tim is a pioneer of business ventures in the United States and a co-founder of Draper Fisher Jurvetson, a leading investment firm in early-stage tech startups.

nn

“I think anyone with a young brain already has a wallet. The rest will follow. The same thing happened with internet adoption.”

nn

n

These quotes have been edited and condensed.

n

nn

n

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

n

nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-21 18:32:01″,”updated_at”:”2021-12-21 18:32:47″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}}],”is_partner_material”:false,”commentsSection”:{“schemaEntityUrl”:”//cointelegraph.com/defined/crypto-mainstream-adoption-is-it-here-already-experts-answer-part-3″,”checklist”: [],”quantity”:0,”i18n”:{“addComment”:”Add a remark…”,”amountOnePostfix”:”Remark”,”amountPostfix”:”Feedback”,”cancel”:”Cancel”,”delete”:”Delete”,”edit”:”Edit”,”errorBig”:”Remark textual content can’t be longer than 2000 characters”,”errorDuplicate”:”Duplicate remark”,”errorSmall”:”Remark textual content have to be a minimum of 2 characters lengthy”,”hideButton”:”Conceal feedback”,”noComments”:” “,”commentOnModeration”:”Touch upon moderation”,”postComment”:”Put up”,”reply”:”Reply”,”showAllComments”:”Present All Feedback”,”showButtonPostfix”:”feedback”,”showButtonPrefix”:”Present”,”signIn”:”Check in”,”replace”:”Replace remark”,”commentWasDeleted”:”This remark has been deleted”}},”associated”: [{“id”:47052,”retina”:”https://images.cointelegraph.com/images/1480_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kNzFiNjNiMWVlZjk4MTA4MTRmYTFhN2MxYzhlMWNlOC5qcGc=.jpg”,”img”:”https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kNzFiNjNiMWVlZjk4MTA4MTRmYTFhN2MxYzhlMWNlOC5qcGc=.jpg”,”thumb”:”https://images.cointelegraph.com/images/370_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kNzFiNjNiMWVlZjk4MTA4MTRmYTFhN2MxYzhlMWNlOC5qcGc=.jpg”,”thumb370″:”https://images.cointelegraph.com/images/370_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kNzFiNjNiMWVlZjk4MTA4MTRmYTFhN2MxYzhlMWNlOC5qcGc=.jpg”,”amp_thumb”:”https://images.cointelegraph.com/images/150_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kNzFiNjNiMWVlZjk4MTA4MTRmYTFhN2MxYzhlMWNlOC5qcGc=.jpg”,”thumb150″:”https://images.cointelegraph.com/images/150_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kNzFiNjNiMWVlZjk4MTA4MTRmYTFhN2MxYzhlMWNlOC5qcGc=.jpg”,”url”:”https://cointelegraph.com/news/blockchain-can-disrupt-higher-education-today-global-labor-market-tomorrow”,”title”:”Blockchain Can Disrupt Higher Education Today, Global Labor Market Tomorrow”,”lead”:”Blockchain can play its part in the education sector — record-keeping in 2–3 years and then adoption by the labor market?”,”leadfull”:””,”category_id”:19,”category_url”:”https://cointelegraph.com/category/analysis”,”category_title”:”Analysis”,”author_url”:”https://cointelegraph.com/authors/andrew-singer”,”author_hash”:”aHR0cHM6Ly9jb2ludGVsZWdyYXBoLmNvbS9hdXRob3JzL2FuZHJldy1zaW5nZXI=”,”author_title”:”Andrew Singer”,”author_img”:”https://images.cointelegraph.com/images/32_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy83Mzk1YjJlNjhhNDA5ZGNmMTg2YmJhNzQwNmUzNmY0OS5qcGc=.jpg”,”date”:”JUN 14, 2020″,”flash_date”:”JUN 14, 2020″,”sponsored”:false,”press_release”:false,”sponsored_label”:”Sponsored”,”explained”:false,”badge”:{“title”:”Analysis”,”label”:”info”},”published”:{“date”:”2020-06-14 08:30:00.000000″,”timezone_type”:3,”timezone”:”Europe/London”},”stat_uniqs”:74946,”rss_date”:”Sun, 14 Jun 2020 08:30:00 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Throughout 2020 and 2021, the variety of distinctive crypto wallets elevated at a price of round 20 million per a yr, making the depend stand at round 80 million at the moment. That signifies that in solely two years, the variety of folks concerned within the house has doubled. Simply give it some thought: That’s greater than 1% of your entire planet’s inhabitants! And the extra folks become involved, the extra will comply with. Isn’t that mainstream adoption? It’s for me. 

However that’s simply my opinion. To realize extra perception on the matter, I reached out to completely different consultants from the crypto and blockchain trade, asking them: “With 2021 coming to an finish, in your opinion has crypto’s mass adoption already begun? What might assist it attain the extent of mass adoption it wants?”

Alex is the chief technique officer of Offshift, a decentralized software devoted to privacy-centric storage and change.

“It most definitely has not. As a result of cryptocurrency’s earliest purposes contain monetary purposes, it has definitely been extra conducive to hypothesis than different nascent industries and applied sciences. That being mentioned, crypto’s use case potential extends far wider than the array of meta use instances now we have seen within the DeFi and NFT areas. Till DeFi begins competing with industrial banking, till publicly traded corporations are shifting some portion of their shares to decentralized techniques to compete with synthetics, till cryptocurrencies are utilized in point-of-sale transactions rather than fiat forex, adoption stays forward of us. To that finish, monetary establishments exploring cryptocurrencies as hedges in opposition to inflation is thrilling for the house, however it doesn’t represent adoption.”

André is the chief know-how officer of Zebedee, which permits programmable funds and small transactions to energy economies for digital worlds.

“Mass adoption is certainly selecting up, particularly as Bitcoin, particularly, reached new ranges of legitimacy within the eyes of traders, banks, firms and whole nations. All the eye led to extra energetic curiosity among the many broader public but in addition highlighted the necessity to make it simpler to onboard folks. I believe the important thing to unlocking the subsequent tier of adoption lies in Bitcoin gaming, which provides a much less intimidating use case and far easier onboarding expertise for folks seeking to earn and use crypto for the primary time.”

Chris is the chief product officer of Phantom Pockets, a Solana pockets constructed for DeFi and NFTs.

“We’re seeing increasingly more folks coming into the house who’ve by no means used crypto earlier than. This will likely not essentially imply mass adoption, however we’re seeing a sooner development price than ever earlier than.

Cheaper blockchains are permitting new use instances and new audiences to begin to onboard and experiment with DApps.

Cellular is the enormous unlock for reaching the mass adoption stage. Historically, it has been sluggish and costly to make use of DApps — however now that it’s low-cost and quick with layer one’s like Solana, we’re going to see a complete bunch of individuals flood the house and have the ability to entry Web3 for the primary time.”

Filipe is the DeFi architect at Ankr, a scalable protocol constructed to supply multichain infrastructure for plug-and-play DeFi options and multichain staking for DeFi. 

“With nation-states like El Salvador adopting Bitcoin and extra nations contemplating central financial institution digital currencies, they’ll quickly understand that cryptocurrencies aren’t only a technique of fee however the native forex of a broader blockchain the place they should construct their authorities companies and finally change the very poor foundational banking layer that exists. Issues like financial institution settlements and commerce settlements take two to a few days to settle. In blockchain, such a transaction finality is just unacceptable, however that’s what’s occurring in conventional finance. That is when decentralized purposes and sensible contracts can energy the brand new financial system and allow true scalability throughout the 2 ecosystems.”

James is the pinnacle of enterprise improvement at Eden Community, an non-compulsory, non-consensus-breaking transaction-ordering protocol for Ethereum blocks. 

“In 2021, now we have seen the spark of mass adoption, however we’re nowhere close to there but.

Family manufacturers like Coke and Pepsi are utilizing ‘GMI’ and ‘NGMI’ of their social media posts, and hundreds of thousands of individuals received into crypto to purchase memecoins like Dogecoin.

A number of shoppers at the moment are properly conscious that cryptocurrency exists; nevertheless, they nonetheless simply see the bottom layer of cash like DOGE and Bitcoin. Mass adoption will come from the overall particular person understanding the extent of utility cryptocurrency supplies.

Beneath the floor, we’re seeing a revolution of the banking and transaction settlement layer, however most people has not seen or understood this simply but. Giant manufacturers pushing their viewers into blockchain looks as if a great way to maneuver customers into the house.”

Joshua is the co-founder and CEO of SupraOracles, which develops a blockchain community that makes use of real-time information on the monetary markets for a safe interface and DeFi sensible contracts.

“This yr has been a giant one for cryptocurrency. Not solely has the market made important beneficial properties, however we’re seeing elevated adoption from the continued use of DeFi and the massive quantity of curiosity generated from NFTs. To proceed to see the market develop, we have to enhance DeFi safety and improve competitors within the oracle house. As soon as these points have been resolved, I believe we are going to see much more conventional finance companies shifting to cryptocurrency. Additionally, I believe that blockchain video games and GameFi will likewise be a boon for our trade as we steadily march towards higher mass adoption.”

Marc is the CEO of Sortium, the corporate growing CryptoGene, a play-to-earn Internet 3.0 recreation.

“With the explosive development in NFTs this yr, I believe we at the moment are monitoring towards a lot wider adoption of cryptocurrency, blockchain and related know-how. We’re seeing Fortune 500 firms court docket the NFT trade, monetary and lending establishments undertake DeFi, and retail traders enter the crypto market en masse. Present experiences state that just about 20% of the U.S. is invested in cryptocurrency ultimately. We’re nonetheless early however are on the precipice of mass adoption.”

Michael is the CEO at Fantom Basis, a layer-one EVM-compatible platform that’s quick, scalable and safe, constructed on a permissionless aBFT consensus protocol.

“Mass adoption has been ongoing for a number of years. Over time, we’re seeing cryptocurrencies changing into increasingly more mainstream. For instance, a couple of large pension and retirement funds within the U.S. and Australia have begun making investments within the house, one thing that has by no means occurred earlier than.

We’ll proceed to see accelerated crypto adoption as increasingly more mainstream corporations and governments take part in it.”

Rodrigo is the chief monetary officer of Prime Belief, a blockchain-driven belief firm that gives API-driven open banking options.

“Over the previous 12 months, the digital asset trade has matured considerably. From exchange-traded funds to celeb endorsements to stadium naming rights, crypto has moved from a distinct segment market of early adopters to extra mainstream consciousness. New and thrilling use instances proceed to emerge, and innovation continues to push blockchain know-how ahead, integrating with the broader monetary sector by permitting crypto holders to make use of their tokens as fee.

 To succeed in vital mass adoption, we want elevated participation from a various set of traders that need entry to crypto, as this will increase liquidity and builds out the market infrastructure. Wealth administration platforms are servicing this want by constructing personalized options for impartial registered funding advisors (RIAs), an space of the crypto market that’s taking off. For extra conservative traders, the shortage of regulation available in the market is perhaps maintaining them on the sidelines. To beat traders’ considerations, wealth administration platforms will want stronger compliance applications to handle the superior technological nature of digital belongings akin to stablecoins, clearer steering from regulators for nationwide banks integrating crypto, and extra strong cryptocurrency crime and tax evasion legal guidelines. With extra confidence amongst common traders, we consider crypto will proceed to see sturdy mass adoption throughout sectors.”

Sebastian is the chief technique officer at Coinsource, a Bitcoin ATM supplier in the US.

“In 2022, we count on extra nations to comply with El Salvador’s lead and undertake Bitcoin as authorized tender, notably nations throughout Latin America and Asia. Consequently, we anticipate a rise within the variety of Bitcoin ATMs throughout Latin America, and in addition in Europe. As new nations undertake, it’s probably U.S. dominance within the crypto trade can be diminished.

Regulation of crypto will proceed into 2022, which is usually factor. Nevertheless, it have to be cheap and pretty relevant to all. Now we have the potential to unravel compliance in lots of the protocols as soon as and for all, so we have to double down on this. The trade is on path to extend the requirements by which it measures compliance, however there must be a dialogue between consultants on each side of the regulatory debate.

Nefarious exercise inside the crypto house has been on a steep decline for a number of years now. Alignment on regulation, akin to within the EU with MiCA, will create a stage enjoying discipline that can permit for continued development in the long run. We hope the U.S. will quickly comply with in offering regulatory readability and pointers that can maintain it on foot as a key hub for international crypto innovation. 

Now we have witnessed enormous development inside the Bitcoin ATM, or BTM, trade in 2021, with international installations up by 70%. We don’t see this slowing down any time quickly. With a lot exercise available in the market and the sturdy demand for BTMs from all types of identified and new goal buyer teams, we consider that the BTM house will proceed to develop at an identical, and even sooner, price. It’s projected that the variety of BTM installations will hit 100,000 by 2025, and we’d say that this can be a conservative estimate.”

Tim is a pioneer of enterprise ventures in the US and a co-founder of Draper Fisher Jurvetson, a number one funding agency in early-stage tech startups.

“I believe anybody with a younger mind already has a pockets. The remainder will comply with. The identical factor occurred with web adoption.”

These quotes have been edited and condensed.

The views, ideas and opinions expressed listed here are the authors’ alone and don’t essentially mirror or characterize the views and opinions of Cointelegraph.

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