10 Predictions For Cryptocurrency In 2030steemCreated with Sketch.

in LeoFinance •  12 days ago  (edited)

This was inspired by an article that appeared on Blockonomi.com.


Source

What will cryptocurrency be like when it enters adulthood and starts on its third decade of life? Will it even be around? This is something that is always fun to ponder. Of course, guessing what next year will be like is tough enough. However, here is a shot at some of the things we could see in place by the end of this decade.

Blockchains Will Be In The Background

Blockchain maximalism is the rage today. We all have our favorite projects and the cryptocurrency media loves to write about them. Nevertheless, in reality they are nothing more than public ledgers storing information. They essentially are not really that interesting.

By the end of this decade, it is likely that the focus is removed from blockchains and onto the applications. That does not mean that blockchain coins will not have value, they will. The difference will be that much of the transaction will be hidden from the users. People will simply enter an application without any knowledge of where the data is being stored.

Nor will they care.

Interoperability Is The Norm

We will see standardization across all platforms. While they could still operate using different programming languages and structures, there will be enough commonality among the protocol so that most applications can be tied to the majority of blockchains.

This will parallel what we witnessed with the internet which, originally, was very disconnected. It was not until standardization was agreed upon that data could flow freely among most computers. Blockchain will follow similar path.

Cryptocurrency Will Be Commonplace

After the first decade, cryptocurrency is still something of a novice. The community that is involved in it tends to be technically advanced and certainly is far from the masses. This will change over the coming decade. Numerous entry points will be used to onboard the general population. What starts out as a slow trickle will pick up over time.

Not only will people be using cryptocurrency but so will machines. As we enter a more automated age, payments between inanimate objects will become more frequent. When a refrigerator places an order for more food to be delivered, this remittance will be done using cryptocurrency.

Financial Inequality Will Be Lessened

Income and wealth will rise for billions around the world. As the masses start to enter the crypto space, more innovation will be devised. The exponential growth that occurs will add great value to different networks, kicking the market effect even higher.

Innovation always spurs a massive expansion of wealth. Unlike the past, where that wealth was concentrated in the hand of a few, this time it will spread. The reason is that the development is not going to come from centralized entities that control patents, thus, the profits.

Open source software is going to be the norm. Any developer is going to be able to take the most popular applications and improve upon them. Those that are able to offer something more will find their applications highly successful. This is going to present users of cryptocurrency with millions of different options. As the value of the entire ecosystem grows, those who are involved, which will be billions, will all benefit.

We saw how the internet created data abundance. It is gave anyone connected access to unlimited information. Cryptocurrency, at its core, is nothing more than data passing back and forth. Value is derived by what is behind that data and how it is used. With billions of people, the network effect will lift a lot of projects.

All Gaming Will Have NFTs

One of the paths of wealth generation will be in gaming. Already very popular, and profitable, this will only grow over the next decade. Today, like most things, the value is benefiting only a few. That will not be the case moving forward.

Users will not opt to participate in games where NFTs are not available. Money will dry up from the traditional sector and move into blockchain based games. Obviously, we will likely see the major players adopt this structure for their platforms. This will lead to an explosion surrounding NFTs. Marketplaces will be created to service the assets from the most popular games.

Everything Will Be "Localized"

This is hard to imagine in a digital world where everything is available. However, if we look at the habits of most internet users, we see they visit the same set of websites on a daily basis. People find what they like and keep revisiting it.

Cryptocurrency networks will see the same experience. People will be drawn to what they like and remain there. So while there might be 100 choices for something, they will stick to the same two or three applications as long as it meets their needs. With millions of cryptocurrencies out there and the ability to instantly trade them all, it is going to matter little what network one is involved in.

Coupling this is the fact that small and large will offer many of the same benefits. Rapid reproduction of just about anything, at least from the technical angle, means many of the features that are present on the large system will also be available on the smaller ones. People will be able to garner similar user experiences wherever they go. Thus, other factors such as community and individual connection will be factored in.

Ownership Of All

At some point, over the next decade, a Digital I.D. system will be created. This will be the first step in taking ownership in what we are involved in.

Today, the concern over data gets a lot of publicity. It is become well known that the mega-technology companies are making a fortune off the data people generate. With a D.I.D., this is no longer possible. Anyone who creates data will retain the rights to it and will be able to sell it as he or she sees fit.

Once again, we see cryptocurrency coming into play. If, for example, a researcher wants access to your health information, that might be allowed by granting access to your personal health file. Of course, in return for that, you will want to be compensated which will take place in the form of regular crypto payments. Once the time period of completed, access is removed with payments stopping.

We All Will Be NFTs

Each of us has value and adds it on a daily basis. As we move to a world where markets take over, all value can be tokenized. This is going to open up new opportunities for each of us.

Essentially, everyone will be a NFT. We will have a master token which we can then utilize in different ways. Probably the most obvious is that we can sell other tokens against it, providing different benefits to those who purchase them. Perhaps they come with certain voting rights associated with aspect of your life/business. Or maybe it entitles holders to a certain percentage of projects you are involved in. Whatever the use cases, and they will be many as individual creativity takes over, the market will be explosive.

Almost Everyone Will Have Virtual Businesses

The line between reality and the virtual world will blend. As new ways to access the internet via virtual reality products become common, we will see entirely new "worlds" constructed. This will be coupled with everything being "smart" since we will have digital layers over our physical realm.

This means that the idea that "life is but a game" takes on new meaning. In the virtual world, much of what we encounter is a game. Thus, when paid in real world money, we can see how that line is blurred. People who establish positions in games that effectively are businesses will be just as viable as a physical ones are today. We already know how this works with online stores. The difference is we will expand this into land, manufacturing, and a host of other industries that will be virtually created.

We Will Be Closing In On Abundance Being The Norm

This is a tough one to gauge since there are a few different components. We will, for the sake of this article, stick to the financial since that is what cryptocurrency deals with, at least in part.

By 2030, we will start to see abundance being everywhere. As things get more digital, the scarcity model goes away. Just look at recorded music. A few decades back, that was limited to the number of CDs they could stamp out. Today, through Spotify, Pandora, and a host of other applications, recorded music is unlimited.

We will see the same with cryptocurrency. With millions of cryptocurrencies in existence, all backed by varying degrees of users, we will see opportunities everywhere. The economic growth engine which will like explode due to a variety of technological advancements

What is interesting is this is the phase that could start the transition to a post-monetary world. As abundance becomes more the norm, the need for money, at least in the same way, is lessened. Here again, we see how automation can enter the picture, generating a great deal of productivity that is what actually backs currencies today.


Here is the list of 10 Predictions of Cryptocurrency in 2030.

What are your thoughts on it? Leave it in the comment section below.


If you found this article informative, please give an upvote and rehive.

gif by @doze

image.png

Posted Using LeoFinance

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

We All Will Be NFTs

Interesting that you say that because one of my ideas for Hive is to do just that.

https://peakd.com/utopian-io/@edicted/soul-shards-reputation-credit-loan-coin-of-the-steem-blockchain

I want to give every account a unique "Soul".
Your soul is a measure of reputation and value within the network.
You would then be able to "sell your Soul" to others with contracts to buy it back later.
Essentially just an interesting way to do Peer-To-Peer loans on-chain.
Soul collectors would basically be bad-debt collectors.

Almost Everyone Will Have Virtual Businesses

In a real free-market economy everyone must be a producer and a consumer at the same time. Without this citizens are subject to wage-slavery. Hopefully crypto can make this a reality.

Posted Using LeoFinance

A Digital ID system and solid reputation score are two things that are needed. What is in place now is not going to suffice, especially as more powerful technologies enter the picture.

Absolutely, the world of the prosumer is coming, which is going to lead to abundance. Each will benfit from both sides of the transaction instead of just one.

I look forward to some of your projects starting to see the light of day. 😁

Posted Using LeoFinance Beta

I look forward to some of your projects starting to see the light of day.

I know right? Honestly though the foundation of all of these things is a database connected to a server. I've got Node.JS and MySQL booted up right now and playing around with it. Once I have this solid foundation I should be able to crank this stuff out relatively quickly. Dapps become surprisingly trivial when you have a built-in network for security (private keys) on top of a database that is verified and stored by 20 witnesses and hundreds of nodes.

There's a good chance that the rise in quantum computing will destroy most of today's available cryptocurrencies, at least in the case of bitcoin and all coins using the same key algorithms.

That being said, the rise of quantum computing will also lead to the rise of quantum-resistant cryptocurrencies.

  ·  12 days ago (edited)

I don't know what will be in 2030, same as almost noone predicted bitcoin or covid19.
Predictions are fun games, as long as you remember that the future is not ours to see.

Bitcoin coming into existence was easy to predict, all the tech existed at the time and it was only a matter of time before someone combined them. What was not predictable however, was bitcoin's success.

Same thing goes with pandemics, we can always predict they will happen eventually, but we can never be certain when or how bad they'll be. COVID-19 luckily has been mild compared to previous major pandemics like the 1918 pandemic, but it could easily have been much worse.

I do agree quantom is a game changer and can possibly be the next revolution

You wont have to worry about quantum destroying the present encryption any time soon and not likely by 2030. Perhaps 2040 is more accurate for that one. Besides, they are already working on changing the encryption algorithm.

Keep in mind it is the standard so not only are cryptocurrencies affected but every countries national data.

Posted Using LeoFinance Beta

The biggest problem is that today's quantum resistant algorithms may not be as quantum resistant as they're current thought to be, and we won't know for sure until quantum computers become commonplace enough for your average cryptography expert to try cracking the algorithms.

At current rates, quantum computing will have increased in computing power by a magnitude of roughly 3.5 by 2030, or about 3200 times what it is today. That also means there's some likelihood most computers will have a quantum co-processor by then, or at the very least you'd be able to get a quantum accelerator card much like you can get a GPU today.

However, with the incoming global recession, things will likely slow down for the next 4-7 years, so it's quite possible that such levels won't be reached until around 2035.

Never underestimate computational growth, Your average smartphone today has significantly more processing power than your average computer in 2010 did.

That is true, you truly do not know if a bullet proof vest is bullet proof until a bullet hits it. Thus, it is all speculation until one gets to that croassroad.

The semiconductor industry is only now facing an issue that it did not have to deal with 40 or so years ago: noise. There are now many avenues being purused to get around it, 3D chips, carbon nanotubes, or even altering other aspects of the software stack to gain efficiency that, for the most part, came from chip advancement.

Noise is inherent in quantum and a problem they have from the start. The natural instability that is within this realm offers an additional challenge that researchers are attacking. However, going from 60 qubits to the 1M-10M many are estimating will be required to do what is being discussed here will require a lot of breakthroughs. The idea of doing something on a smaller scale is much easier than scaling up. It will be interesting to see how this is overcome.

That said, since it is not an overnight, hey look what we created, quantum research will affect all aspects. So while we can focus upon the ability to "attack" encryption system, we also can see the same breakthroughs, as they come, applied to storage and transmission. While it might not be a 1:1 benefit ratio, there will be some correlation. Thus, we could see improvements in what the media likes to call the "quantum internet".

As for the quantum-lite that you mentioned, we will certainly see a mixture of quantum and classical, especially at the start. For this reason, the computational power of quantum will be tied to applications developed for classical computing. Again, the same way we have quantum operating as a threat to the present encryption, it is possible that the same quantum technology can be applied to protect the classical applications.

Naturally, this is all spec and we will see how much acceleration takes place over the next 10-15 years. We know the pace will only increase so I guess it is a matter of which side gets there first: those who want to break encryption versus those who want to protect it. What is interesting is it is many of the same parties (governments) on both sides.

Posted Using LeoFinance Beta

I love these predictions. I don't think you're wrong about any of the honestly. The world is evolving and everything is becoming more and more digital. Blockchain and cryptocurrency make so much sense for the way the world is going especially now. I've always imagined a grocery store where you walk in, you scan a QR code (opening a transaction for the shopping trip), and when you're done, you scan another QR code (closing the transaction and paying in crypto) on the way out. Completely contactless and automated by blockchain and cryptocurrency.

I was thinking of breaking this up into two posts since there is more than can be added.

Either way, it is fun stuff to think about. It would be exciting if more spent some time on this.

Posted Using LeoFinance Beta

Moving into digital currency is one big trend exhibited by different major economies’ central banks. Thus, it is safe to say that having crypto currency as one of the major contending currency in the near future is totally possible. As of now, crypto currency stands at the top 10 currencies adopted globally, which is already a huge break through. Now, perhaps it has to gain certain stability in some sense to be more adaptable to more group of people.

Another point where you are absolutely getting the point is the digital footprint of the generation living in 21st century. Compared to the last decade, our digital footprint had been increased in like multiple folds. By setting up an identity or business on the virtual world, not only it enables accessibility to different resources, but also the convenient level increase day by day. Thus, I would consider that building our digital presence is one of the way to build our asset in the digital world.

Nonetheless, your prediction is optimistic and I like that 😁 I’m a believer and a hodler. So until then, I will amass my digital wealth.

Interesting predictions! I recently heard central bankers saying the CBDC will displace cryptocurrencies. What's your take on this?

My view is the same as record companies suing their own customers for illegal downloads in the early 2000s. It didn't work.

Central bankers are part of the old paradigm and with each passing day, decentralized cryptocurrency systems get stronger. Basically, we are at the point where the horse already left the barn. There is no putting it back in.

Posted Using LeoFinance Beta

Great article, I just look forward where I can use my HIVE or Leo to buy half-apps at Applebee's :)

Posted Using LeoFinance

  ·  12 days ago (edited)

Crypto is a Type I (one) civilization financial system (Technology?)... the internet is a Type one communication system that connects everybody on the planet... and just like the internet, Crypto is connecting people all over the world in a global financial system... based on abundance rather than lack

That is true it is. Of course, to power this is going to require a lot more energy although to power an expanding centralized banking and exchange system does the same.

Opening things up to everyone is vital.

Posted Using LeoFinance Beta

Interesting predictions. Automatization age sounds good. I hope that more people will use their mind to its fullest capacity once some jobs will become obsolete and will be taken over.

Automatization age sounds good.

Here we get into the question of who controls it. If the automation age is in the hands of a few governments and a dozen or so corporations, then it will be hell on Earth.

If we can spread it among the masses, like with cryptocurrency and blockchain being at the core, then there is a chance for an improved society.

Posted Using LeoFinance Beta

You are correct, it is actually the most important detail in the whole process. A power in the wrong hands can trully corrupt societies. But there are always a few rare individuals who can withstand in front of abuse. History has shown it. We shall see though how it will pan out.

It is why @creativemary, I believe what we are doing here on a daily basis is of utmost importance. We all know the benefits of a blockchain such as this and the opportunities cryptocurrency, as a whole, offers. Thus, we are "holding down the fort" until the development reaches the point where the masses start to take notice.

Nothing happens in a vacuum as they say. We are looking at an expansion that is growing by an order of many magnitudes each year. This is key in my opinion. The bigger this gets, the more resilient it is to outside "attack".

Posted Using LeoFinance Beta

I agree. Your reply reminded me of a quote, I will leave it here, it is so so good for the discussion in hand

The best investment for one year is to grow grains; the best investment for ten years is to grow trees; the best investment for a lifetime is to educate people. What you gain from one year’s growth will be grains; what you gain from ten years’ growth will be trees; what you gain from a hundred years’ growth will be people.”Guan Zhong

The future will be bright and those who are beginning to understand this will now be able to enjoy it more.

Interesting predictions. You're always in the future. Solid read as always.

Definitely cryptocurrencies will change today's traditional view of money and we'll be able to get more tangible things from our economies.

Posted Using LeoFinance

You're always in the future.

LOL yes mentally I tend to be floating between 2025 and 2030. Sometimes I even drift out to 2040 or so.

Posted Using LeoFinance Beta

when lambo 🤣

By 2030 over 80% of merchants will be accepting cryptocurrency as payment. Platforms like https://nowpayments.io/ which is the best cryptocurrency gateway, will be fully utilized.

早上好( ^_^)/


Hey @taskmaster4450, here is a little bit of BEER from @pixresteemer for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Sorry, collapse is planned for 2027.
You won't have electricity left in 2030 for futile activity.

LOL good luck with that. Been hearing that for a few decades.

At what point do one have to admit they were wrong.

Posted Using LeoFinance Beta

Interesting

👍👍👍👍

pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 22 of my contest just started...you can now check the winners of the previous week!
!BEER
5