It has been just revealed that AI, NFTs and more crypto use cases will drive blockchain adoption. Check out the latest reports about the matter below.
Driving blockchain adoption
According to crypto analyst Jamie Coutts, there are five key trends that will drive the mainstream adoption of blockchain technology.
Coutts, who previously worked as a crypto market analyst at Bloomberg Intelligence, highlights on the social media platform X that payments, account abstraction, real-world assets, non-fungible tokens (NFTs) and gaming, and artificial intelligence (AI) will all contribute to the acceleration of global blockchain usage.
In terms of payments, the analyst predicts that stablecoins will become “ubiquitous in developed and emerging economies.”
Account abstraction aims to enable smart contracts to function without requiring blockchain users to actually relinquish control of their funds to the contract, according to the Crypto Council for Innovation. Coutts believes account abstraction will meld the web3 user experience into web2 and enable “next-gen programmable financial products.”
A financial analyst predicts that a “tokenization supernova” is on the horizon for real-world assets.
According to a recent report from 21.co, the tokenization sector could reach a scale of $3.5 – $10 trillion by the year 2030. It’s worth noting that 21.co is the parent company of 21shares, the largest cryptocurrency exchange-traded product issuer.
The analyst also believes that blockchain scaling is paving the way for the mass adoption of non-fungible tokens (NFTs), indicating that NFTs will soon become a crucial component in corporate customer loyalty strategies.
Lastly, the analyst argues that “blockchains will bank the machines.”
“Smart contract wallets will allow humans to empower AI to transact on-chain.”
It has been revealed the fact that Blockchain.com, a cryptocurrency exchange, has successfully raised $110 million in Series E financing.
The funding round was led by Kingsway Capital, an investment management firm based in the UK, and saw participation from Baillie Gifford, Lakestar, Lightspeed Venture Partners, Coinbase Ventures and others.
According to sources familiar with the matter cited by Bloomberg, Blockchain.com’s valuation is now “less than half of” $14 billion, which was the firm’s valuation in March 2022 following a Series D financing round.
