As we get into 2023, Aventus Founder & CEO Alan Vey shares his thoughts around what trends we will see in the blockchain industry over the coming year.
More Regulation, More Trust
The huge scandals of 2022 have laid the foundations for proper frameworks to finally be put in place in 2023. We’ve already seen MICA in Europe, and the SEC and FCA in the US and UK respectively have both been working on this for a while.
Now, the time is ripe for even more robust regulatory frameworks to be finalised in the coming year that will support the industry’s growth via increased trust.
An Explosion in DeFi
Following the FTX scandal, people will begin to understand that taking their assets into their own custody and really using the fundamental blockchain, rather than keeping them in centralised exchanges, has huge benefits.
Currently, poor user experience (such as losing access to assets if you forget your password) are acting as hurdles to widespread adoption of decentralised finance and self-custody solutions, but as the market realises the benefits, the user experience around blockchains will also greatly improve.
Blockchain to Blockspace
The incredible technical properties of blockchain as infrastructure will finally fade into the background as it facilitates its use cases, and people will begin using blockchain without even really knowing it.
Enterprises and other adopters will focus less on this blockchain or that blockchain, and more on renting flexible blockspace with their desired technical properties, such as throughput and latency.