2019 was indeed a remarkable year for the blockchain and crypto world. New crypto trading products appeared and some new alliances were born. Moreover, the United States Congress and foreign central banks are paying close attention to the benefits of blockchain. The largest financial companies worldwide are adopting blockchain as well.
There is a lot to look forward to this year. Here are the most expected events shaping the 2020’s blockchain ecosystem.
Bitcoin ETF Won’t Be Approved
There was a lot of buzz in the bitcoin space in anticipation of whether the United States Securities and Exchange Commission (SEC) will approve any of the several Bitcoin ETF filings. SEC has rejected all of them so far on the same grounds of not enough financial surveillance.
Facebook’s Libra Launching with Limited Functionality
Facebook’s payment network initiative that received a reasonable resistance from regulators in the USA and Europe has been slowly developed. The expectation is that Libra will roll out in one jurisdiction with very limited functionality and partners. It will not be the payment rails and onboarding vehicle that Facebook promised at the beginning. But it will still show signs of progress.
Expansion of Privacy Tools
Companies such as Ernst & Young are investing a reasonable amount of money into the development of privacy tooling for the public Ethereum ecosystem. Moreover, the company’s product Nightfall is a great example of how one day all the enterprises will be using the public main-net for transactions with enough privacy comfort. Moreover, this year more zero-knowledge (ZK) and multi-party computations (MPC) projects will enter the blockchain ecosystem.
To sum up, 2020 seems to be crucial for the blockchain ecosystem. We have several main threads to look out for. Thus, 2020 is a promising year for when the main blockchain protocols continue to grow in usage and adoption rates.