Coinbase’s Chief Product Officer shares 2022 forecasts for Ethereum’s scalability, metaverse, decentralized finance (defi), non-fungible tokens (NFT) and more.
2022 Forecast by Coinbase Executives
Surojit Chatterjee, Chief Product Officer of Coinbase, share Last week, 10 forecasts of what the crypto industry holds in 2022.Forecasts cover a range of cryptographic topics, including: ETH Scalability, zero-knowledge proof technology, decentralized finance (defi), non-fungible tokens (NFT), and metaverse.
Non-fungible tokens “will be the next evolution of users’ digital IDs and passports to the Metaverse,” executives explained, adding:
User-created metaverses are the future of social networks and begin to threaten ad-driven, centralized versions of today’s social networks.
“Brands will begin to actively participate in Metaverse and NFTs,” he continued. “NFTs and Metaverse will be brand new Instagram.” In addition, “Web2 companies will wake up and try to enter Web3 … and Metaverse in 2022, but many of them will be Metaverse centralized and May create a closed network version. “
Regarding regulated defi and “the emergence of the on-chain KYC attestation,” Coinbase executives explained that “many defi protocols adopt regulation and create a separate KYC user pool.” He in detail:
Financial institutions play a much larger role in participating in decentralized finance … The growth of regulated decentralized finance and on-chain KYC certification helps financial institutions gain confidence in decentralized finance.
Coinbase executives further predicted that “Defi insurance will emerge” and emphasized that “in 2022, a viable insurance protocol will emerge to guarantee users’ funds from security breaches to protect them from hacking.” Did.
The forecast also covers Ethereum’s scalability. The executive said:
ETH Scalability will improve, but the new L1 chain will grow significantly — the scalability challenge is to welcome the next 100 million users to encryption and Web3. ETH It has the potential to grow.
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