13 developments that could kindle the public’s interest in the crypto industry

Cointelegraph Innovation Circle8 hours ago13 developments that could kindle the public’s interest in the crypto industryA combination of trends already underway and deliberate industry action could lead to crypto’s watershed moment in terms of public adoption.493 Total views1 Total sharesListen to article 0:00Innovation CircleJoin us on social networksFor many, the crypto industry feels as though it’s hovering on the brink. It attracts high-profile attention and headlines; yet widespread public interest and adoption haven’t yet followed. 

There may be a variety of factors giving the public pause, ranging from stories of misconduct by bad actors to simply a lack of understanding of the industry’s technology, philosophy and potential. But is it possible some significant trend or development could tip the scales in crypto’s favor? Below, 13 members of Cointelegraph Innovation Circle speculate about some of the factors and events they believe could lead to a groundswell of interest in the crypto industry among the general public. More digital asset experiences from major brands

Web3 will disrupt and reinvent day-to-day activities like shopping, ticketing, loyalty and entertainment. Brands like Nike, Coca-Cola and Louis Vuitton already offer unique experiences backed by digital assets. The potential includes nonfungible tokens that offer actual, verifiable, real-life utility like extra perks, access to communities, tangible physical products, loyalty programs and more. –Sandy Carter,Unstoppable Domains The continued erosion of trust in central banks

Generally, confidence in public treasuries and government, along with central bank policy, has been eroding, with peak mistrust around 2015. Crypto presents a viable alternative (at least the decentralized settlement layers) to escape into alternative stores of wealth. I don’t see any particular event, but inevitably, market forces will discount centralized money more and more over time. –Jagdeep Sidhu,Syscoin Foundation Better consumer protection policies

Interest in crypto will grow as the public begins to understand blockchain and cryptocurrencies. The industry can help by pushing awareness of them and implementing better consumer protection measures. Addressing concerns about risks to customer safety and security and building trust have become increasingly vital as the crypto sector develops and matures. Establishing powerful ways to protect consumers can boost interest in cryptocurrencies. –Myrtle Anne Ramos,Block Tides A steady rise in BTC and ETH

I think the general public still doesn’t fully understand the crypto industry. When they think about crypto, most think only about Bitcoin; those who are a bit more knowledgeable might also think about ether. The rise or fall of these two tokens will determine the state of interest in the industry and in other altcoins. If there’s a steady rise in BTC and ETH, public interest will undoubtedly rise. –Ayelet Noff,SlicedBrand Adoption by e-commerce platforms

E-commerce has the potential to boost crypto adoption. If a known e-commerce platform began accepting crypto as payment, it could influence the public’s perception, as seen with eBay’s entry into the NFT marketplace last year. Widespread e-commerce acceptance would further legitimize crypto, easing concerns about fraud and reliability. –Anthony Georgiades,Pastel Network The expansion of real-world assets

One trend that is already in place and expanding is real-world assets, which combine actual, real-life entities with the blockchain. We have seen this within the real estate scene already — they are adding tangible assets from the physical world and bringing them on chain. As a system, this would be incredibly efficient, especially in terms of time. But the costs would also drop drastically when scaled. –Ilias Salvatore,Flooz XYZ

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Crypto needs to become less scary to make it in the mainstream. SEC approvals would go a long way toward reassuring the public and drive a wave of adoption. But demystification would help, too — crypto firms that want to onboard Joe Public should stop talking in memes, focusing instead on clear communication and simple processes. –German Ramirez,THE RELEVANCE HOUSE AG The integration of Bitcoin in investment funds

We are currently witnessing the proposal to integrate Bitcoin into investment funds and exchange-traded products among some of the top asset management institutions in the world, specifically in the United States. Proposals such as this grab worldwide attention, as they showcase Bitcoin’s value and potential market dominance. –Megan Nyvold,BingX A “killer” use case

Crypto needs a “killer” use case. Once hundreds of millions or even billions of people start using a Web3 product, it will become clear to the public that the power of blockchain goes far beyond a speculative asset class. Whether it’s a decentralized game, payment platform or social media network, this killer app would help kickstart mass adoption by demonstrating that Web3 is both useful and safe. –Wolfgang Rückerl,ENT Technologies AG A return to crypto’s “protest” roots

Many forget that crypto began in protest. Bitcoin’s first block mentions global bank bailouts explicitly, enshrining anger against economic policy that favored institutions at the expense of the social fabric. If a familiar crossroads results in the same priorities being laid bare, we may see another wave of mass crypto adoption as participants again look elsewhere for their financial futures. –Oleksandr Lutskevych,CEX.IO Approval of the BlackRock ETF

Approval of the BlackRock ETF would reduce the barrier to entry for many, ultimately leading to an enormous supply lockup. Since Coinbase acts as custodian and, to some degree, a pricing mechanism, it quells the underlying fear of an outright ban of crypto-fiat gateways in the U.S., significantly reducing the regulatory uncertainty we face. –Timothy Enneking,Digital Capital Management Widespread adoption of CBDCs

The widespread adoption of government-backed, decentralized central bank digital currencies has the potential to generate a groundswell of interest in the crypto industry among the general public. It would encourage broader acceptance and usage of digital currencies and offer new opportunities for innovation and financial inclusion. –Vinita Rathi,Systango More user-friendly wallets and features

A secure and easy-to-use cryptocurrency wallet or digital asset management platform could boost crypto interest through strong security and seamless integration. Offering user-friendly features like DeFi integration and financial opportunities could attract incentive-seekers, increasing industry interest and adoption. –Arvin Khamseh,SOLDOUT NFTs

This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

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