Has the cryptocurrency industry been bought out by its worst enemy? Ripple predictions for 2023
i see i see… – Predicting the future, especially in the field of cryptocurrency, is not easy. Who could even take a look FTX cataclysm Who rocked the crypto-sphere last November? This is an exercise given by Ripple’s general manager in Europe, Sandy Young. In this article, we explain all the assumptions in detail!
Is traditional finance looking at cryptocurrency?
After a particularly turbulent 2022, everyone is testing their predictions for 2023. The end of the bear market? Strong comeback NFT and the metaverse? Google search engine replaced by artificial intelligence ChatGPT? In short, there is something for everyone. In this complex guessing exercise, Sandy Youngis responsible The European arm of Ripplealso tried To draw crypto-cards on January 9.
First, despite recent concerns and the downturn caused by the current bear market, it remains fairly optimistic about the sector’s development. L’institutional adoption of blockchain technologies pilot initiatives in the field should be accelerated as they begin.
The strongest companies should take advantage of the weakness of their competitors and buy them at a lower price. Actually using in a minefield of 2022 multiple bankruptcies FTX, Celsius, travel and 3AC.
“We should also see an increasing trend of acquisitions of cryptocurrency companies by traditional financial and other large companies from completely different sectors.”
It is not surprising that some companies, attracted by this innovative and promising sector, want to place their marbles there. Until recently, the crypto sector was viewed with disdain and mistrust. But as is often the case in the history of technological revolutions, no one wants to be first or last.
However, the ambitions of the traditional financial sector may differ. In the sense that it will be a matter of starting a quest to master the crypto sector, this pesky competitor attracts capital and investment.
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Forecast 2023: can be shaken!
In times of energy shortages and environmental issues becoming more and more pressing, environmentally responsible blockchains will probably be in the spotlight. Ethereum as the standard bearer After the merger. solutions tokenization of carbon credits it should also be a place of pride.
2023 will also be the year of implementation of various regulations Mika. Also progress in this context Digital Central Bank Currencies (MNBC) a lot needs to be said about it. They will face a serious opponent stablecoinsthese cryptocurrencies are indexed to the exchange rate of fiat currencies such as the dollar or, more anecdotally, the euro.
“Financial institutions will soon realize the benefits of blockchain technology in making instant interbank transfers. [et peu coûteux]. »
In our digital world, the immediacy of money transfers is still not relevant, contrary to what we might think. This remained quite impossible until recently. All this may soon change with the advent of blockchain technology and stablecoins.
Therefore, there will be many upheavals in 2023. A strengthening of the fundamentals that will likely clean up the crypto sector. And to mourn the especially complicated year 2022, but to separate the wheat from the chaff. And start again, hopefully in 2024 the next bitcoin halving.
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