2022-12-21 22:37 |
It is that time of the year when crypto executives and industry players map out clear-cut plans for the new year, and Vitalik Buterin has hinted at three favourable areas.
During an interview with Bankless’s David Hoffman, he shared what he believes are the three biggest opportunities. Responding to an issue raised by Hoffman on his concerns that the digital asset mass adoption wave is over, Buterin answered in the negative and went on the list of three areas of growth in 2023.
First is digital asset wallets highlighting the need for special attention to wallet infrastructure to enable billions of users seamlessly.
“If you can make a wallet that a billion people will use, that’s a huge opportunity,” said Buterin.
Next is stablecoins, which has been a touchy subject this year following the collapse of Terra in May. For Buterin, there are still “more opportunities for developers to build in web3.”
The aim for developers in 2023 is to build a hyper-inflation-resistant stable that will be revolutionary in the industry.
“If you can make a stablecoin that can actually survive anything up to, and including, a U.S. dollar hyperinflation, that’s a huge opportunity as well if you can create something that will feel like a lifeline for everyone going through that situation,” Buterin said.
Finally, he suggested technical developments in blockchains to compete with big tech using Ethereum as a reference point. If developers can use blockchains to “fight” centralized entities like Google and Facebook, they will lead to more market dominance for developers in the industry.
“If you can get signed in with Ethereum to work and if you can unseat Facebook and Google and Twitter as the login overlords of the internet, that itself is a huge opportunity, right?”
2023 can be a turning pointAfter a bad year for digital assets, industry participants have their eyes glued to a better year ahead. The events that gave this year a negative outlook ranged from scams to the collapse of popular entities like Terra and FTX.
In the wake of all these, users are still keen on a bull run with some floating popular statements across social media like “all the bad eggs have left crypto in 2022.” Suppose 2023 is going to take a new look. In that case, things need to be in place from early January, including clear-cut regulations and more use cases like Buterin suggested driving increased adoption.
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