2019 actually hasn’t been all that bad for the blockverse, well, at least for the time being. We’ve seen near miracles happen, especially in terms of major adoption and support shown by big names such as Facebook, Samsung, Opera and even JP Morgan who took us all by surprise when they launched their own digital coin.
It’s crazy to think that already so much has happened and we haven’t even gotten to the middle of this year yet! However, as with all markets, it’s simply too early to tell what the future has in store for the world of cryptocurrencies and that’s where American entrepreneur, producer and actor, Brock Pierce and his predictions come in.
In an interview with Forbes, Pierce laid out his map for what 2019 holds for the crypto world with a focus on the future of DApps, gaming and STO’s.
According to statistics put forth by State of the DApps, the number of decentralized applications has grown exponentially to approximately 2,667 with 116 added just this last February. As per the interview, talking about the scale and scope of DApp based technologies Pierce said,
“We’re going to see big things being built, multiple applications hitting a million users. I love the fact that prices are down. When prices are up, very little gets built because teams don’t stick around. Everyone is getting rich too quick and that de-motivates people. All the best things I’ve seen built in this ecosystem have been built in bear markets.”
Talking about how to increase adoption and growth for these ventures, he said,
“Three things: They have to be scalable. They have to be fee-less and frictionless. They have to be fast. No one will use the new internet if it’s slow, costs money and doesn’t’ scale. We are building the new internet, so new standards need to be set. Timing-wise, blockchains that check these boxes are happening now within the 3rd gen protocol; EOS, Tron and Cardano, to name a few.”
The next prediction Pierce made was about Security Token Offerings or STO’s which as per many in the industry are famed to be the future of blockchain ICO’s as they provide far more security and regulation.
Explaining how STO’s were a potentially untapped market Pierce said, “Security tokens are going to give birth to a quadrillion dollar market. This is because we will see the tokenization of the world’s fiat money, debt market, real estate, equities, and art.”
“They are the next wave in the evolution of capital markets. ICOs did not adequately protect market participants – it wasn’t intended to – utility tokes are by nature not intended to be security, so it provided little protection. STOs have a framework that can do that. STOs are designed for investors and can have many provisions that are there to protect market participants. ”
The last prediction Pierce made was regarding the lucrative relationship between cryptos and gaming,
“Gaming is going to be a huge part of it” he says, “The earliest adopters at scale of crypto were gamers. That’s why Korea and China are so big. These were the markets where people played video games and bought and sold virtual currency for games like Second Life and World of Warcraft.”
“It’s that community of users around the world that have driven the first wave of crypto adoption and so I think there’s a very good chance that gaming in all its forms will be one of the major drivers of the success of the ecosystem.”