EKMH Innovators Interview Series: 2020 Blockchain Predictions Week
An interview series spotlighting global tech influencers, disruptors, visionaries, and of course, innovators.
‘Tis the season for reflections and looking ahead to the new year. To celebrate the holidays, this week the Innovators Series focuses on the Blockchain, Crypto and Fintech predictions of mavericks and mavens in the sector.
Today Monarch President Robert Beadles delves into the future of cryptocurrency in 2020 and shares his predictions about what to expect in the coming year:
*I predict that Facebook’s Libra will dominate the spotlight again in 2020. When Libra launched earlier this year, it not only signaled a sea change in the industry, but forced regulators to take cryptocurrency seriously. Government leaders in the United States and abroad are now wrestling with how they’ll handle blockchain technology and crypto payments as we enter a new decade. China’s central bank is doubling down on its efforts to launch a cryptocurrency in response to Libra, and other countries may do the same.
*In 2020, I expect to see more governments and business leaders announce their own cryptocurrencies, and while this legitimizes the industry, we must stay skeptical. Ask yourself what the motivation is behind these projects, and if they’re in it for the right reasons.
*In 2019 we saw many crypto projects crash and burn. Scammers were revealed. Inexperienced teams were exposed. I predict that in 2020, the weeding out of poorly executed crypto projects will continue. We’ll see more and more cryptocurrencies that popped up in 2017 hit zero, and their teams fade away or move on to different projects.
*I predict 98% of crypto projects and their currencies will go to zero or have no viable exit for their holders. As the crypto ecosystem matures, every project needs to have a viable use case, strong funding, strong community, and an experienced leadership team to succeed.
*While the price of Bitcoin has been a bit of a disappointment in 2019, I think Bitcoin’s halving in May could spike the price. I expect to see Bitcoin reach $11,000 around this time. The communities that believe in Bitcoin will continue to HODL, regardless of price fluctuations, and by now it’s clear that Bitcoin has proven itself as a long-term investment and store of value.
*I would further venture to say Bitcoin will hit $2 million a coin in the next 5 years so long as the core dev team doesn’t destroy it accidentally from within, causing a crypto catastrophe and pushing the entire crypto ecosystem from decentralized freedom into a government-backed cryptos that they will feel safer in.
*Disclaimer: The views and opinions expressed in this series are those of the interviewees and do not necessarily reflect the views or positions of any entities they represent.
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