With cryptos, everyone is skeptical in one way or the other towards one question, that is the timing of its takeover of the world economy. While there are sections of opposition which believe that such a time might never come, there are also many proponents who think that it is only a matter of when rather than if.
It is popularly believed by finance gurus that the world will see the second version of an economic recession in 2020. While this recession is tipped to be worse than the previous edition, there is a silver lining for a certain $200 billion market i.e cryptocurrencies. This very suggestion is verified by one of the well-known personalities of the crypto space, Thomas Power.
While talking to BlockPublisher, Thomas suggested that the real crypto strength lies underneath the upcoming recession, where people will definitely move to it as an alternative to unstable fiats. He was also of the view that by 2023, many institutions will have adopted blockchain. Afterward, it is for cryptos to take over. He said:
Yes, real crypto power appears in the old economy dips namely 2020-2022 and yes mainstream blockchain remains in 2023-2026 with tokenomics the norm in 2026 for all brands & governments …the market is the market.
Thomas’ thoughts carry particular weightage due to the mixed nature of the current crypto scenario. On one hand, it shows quite the maturity and is being adopted by more and more financially important institutions, on the other one, there are severe regulatory problems persistent in it. The ETF rejections, ICO frauds, stablecoin implosions are just to name a few red headlines from just the past month.
There is also plenty to take encouragement from. The involvement of NYSE-powered trading platform Bakkt from December, participation of financial giant Fidelity into the crypto space, Steve Wozniak’s involvement in co-founding a crypto asset investment firm and plenty more. It is safe to believe that the next big leap for digital assets will come by in the next financial debacle in 2020 and the market will have seized enough maturity by 2026 for all kinds of brands and governments to be raving about crypto. At least, that is what our friend Thomas Power thinks.