Blockchain and Crypto Predictions for 2020
With 2019 slowly coming to an end, our Community Manager set down with Founder Viktor Radchenko and asked him about his predictions for 2020 and what users can expect from Trust Wallet and our team going forward!
1. What do you expect in terms of adoption and industry trends in 2020?
Time has shown that it usually just takes this one Killer App to open the flood gates for more adoption. I personally think DeFi (Decentralized Finance) has great potential in becoming this next Killer App, we just need to get the user design correct. With its incentivized and direct network participation, it will help build communities and secure the whole network in a decentralized way.
We will see a lot more experiments within the DeFi space, some will work, and some may not, but overall, the effect on crypto adoption will be tremendously positive.
2. What do you expect in terms of prices and where the market is going?
I don’t really have an opinion on the market and I also can’t tell you where it’s going. At least not the price. In the end, for me, the price is not what’s important. Important is what we can do with this technology and how can we apply it to solve humanity’s problems.
I am very confident that bitcoin and cryptocurrencies are here to stay. I personally believe that blockchain will have the biggest impact on our society since the internet. Our industry can only grow and when an industry grows, the price usually grows with it.
3. What can users expect from Trust Wallet next year and any major implementations?
We are heavily focusing our efforts on Staking and Decentralized Finance (DeFi). We laid the groundwork earlier this year with our Platform that allows you to stake Tezos, ATOM, and Tron. Now, going forward, we are implementing a more native solution and adding additional coins that our users can stake.
We see great potential in the whole DeFi space, which is why we are working on implementing certain protocols natively within our wallet. This means that borrowing or lending your crypto would become as easy as sending it to a friend.
One major issue we see are these unreadable crypto addresses nobody can remember. We already implemented different blockchain naming solutions like Unstoppable Domain, Ethereum Name Service and FIO, but even those are not compatible with one another. We want to resolve this dilemma for our users, by giving them a unique name that will work with every address within the Trust Wallet Ecosystem.
4. You mentioned DeFi and Staking. Why do you think they will be so important to drive adoption? Where will see the most value created?
DeFi is and can be many things. You have DEX (Decentralized Exchanges), Staking, Borrowing and Lending, Prediction markets, Futures and many more, but this is just a first glimpse of what it can become. Unfortunately are most of the current solutions not easy to use for anyone that just stumbles across this space, which is naturally bad for organic adoption. Certain barriers already exist when someone simply tries to buy some crypto. This can, of course, have multiple reasons. We can’t get distracted and must focus on what we can influence the most, writing better software for our users. Not only do we need good educational tools but our software has to be easy to use from the start.
5. Any upcoming collaborations or partnerships we should be excited about?
This year we have done several collaborations with utility-driven projects in the blockchain space, where we highlighted certain communities to show how blockchain can and it some case already is used in the real world. We don’t necessarily plan for these collaborations and rather approach them as educational courses through which our users can learn more about blockchain technology with the help of real-world projects.
6. Any thoughts on the growth of BNB utilities?
I expect it to grow alongside the Binance Ecosystem in 2020, ultimately becoming bigger than even Binance itself. There is already a large community behind it, and that community is steadily growing. 2020 won’t be any different!
7. Do you have a personal goal for 2020?
My personal goal is to create more open-source tools for any developer that wants to build applications for the crypto ecosystem.
What are your personal predictions for 2020? Join our Crypto Online Community 19 and talk with like-minded people about how Blockchain will shape our lives in 2020, and how we can grow crypto adoption, one wallet at a time!
Our team wishes all of you a Happy New Year and is looking forward to bringing you more Coins and features for 2020