2021: A Look Ahead
The past 12 months saw a great deal of advancement in the world of cryptocurrency and blockchain. Compared to where things stood back in January, it is a completely different world.
Just to highlight a few of the events that happened:
- $15.67 Billion locked in DeFi
- Ethereum 2.0 went live
- Cardano getting closer to full release
- Hive went live
- Microstrategy opened the floodgates for institutions
- Grayscale buying Bitcoin in hundred million dollar chunks
This year was certainly centered around DeFi. The platforms over on Ethereum absolutely exploded. This means that we are going to see greater activity in 2021 as more entities get involved.
Where does all this leave Hive?
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Obviously, forecasting the future is very difficult. Few were able to predict that 2020 was going to be the year of DeFi. So what will be the major trend in the coming 12 months?
Fortunately, with Hive, it really does not matter. The first target is the smart contract capability. This is something that received a great deal of discussion over the past few months. There are teams working upon a decentralized smart contract system that makes token creation rather inexpensive.
This will completely change the course of Hive. Eventually, it will put it on par with the other blockchains in terms of functionality. Being able to create any type of contract will enable applications that mirror what exists on the likes of EOS and Ethereum.
Naturally, having the capability means little of nothing is happening. There are many blockchains that have terrific technical features but still have little taking place. After all, if Bitcoin attracted no outside attention, it would still by a sub $10 a token.
Just exiting Hivefest gives us an idea of where things can potentially be heading.
We saw the first tribe breakthrough with Leofinance. This community is now setting to tone for others to follow. Sometimes all that is needed is an example, a proof-of-concept if you will, to get others to buy in. How many others see the potential and are willing to put in the effort to replicate, at least to some degree, what Leofinance did? That is impossible to answer but we can see a different level of motivation as compared to 6 months ago.
The last few posts by @theycallmedan really are exciting. They spell out the plans that 3Speak has for its decentralized video platform. However, that is only a piece of the puzzle.
What is being proposed is a full-blown token-economic system designed to generate cash flow, well, forever. Hive is going to benefit since it is the paired token outside the platform that is being put together. If this platform can become the leader in decentralized video storage while also establishing the most liquid pool for the tokens tied to it, then Hive will stand to benefit in a large way. This use case for the token could lock up tens of millions of HIVE. Yet, instead of a burn, they actually produce greater value while eliminating them from circulation.
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My guess is the new year will see the move towards utilization. The bull run, thus far, is isolated to a few tokens. Not everything is mooning in spite of the renewed attention cryptocurrency is receiving.
Unlike the last time, where all boats were lifted, it is a selection of those that appear viable which are receiving the boost. This will continue as the idea of Web 3.0 starts to take hold. Many might not associate things with that term but the premise is going to expand.
In other words, we will see that which is valued are those projects providing use cases. No longer is it enough to have a fancy white paper and the idea of totally revolutionizing a particular industry.
Instead, it is the "put up or shut up" moment. Those projects that have working applications that users are interested in will benefit from the flow of capital, both human and financial.
Perhaps we even see the "Netscape Moment" for cryptocurrency and blockchain.
Interoperability will continue to expand. Blockchains still operate in isolation of each other. This is not the path to mass adoption. The using public does not really care about tribalism or anything else that we discuss on a daily basis. Instead, they just want to do what they are interested in and have it working.
The Internet was born out of the idea that computer networks could be traversed without difficulty. Having applications that are tied to a single network does not make much sense in the era. Yet that is exactly the situation we are confronted with.
2021 will be the year this is overcome to a great degree.
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Finally, it is time for marketplaces. There are hundreds of billions of dollars worth of cryptocurrency sitting in people's wallets. Most of that is speculative money. There is also more than a trillions dollars worth of applications and projects that are tied to cryptocurrency. These businesses generate real world revenues.
We still are at the point where the primary use case, spending of crypto, is still lagging. The industry was looking for the likes of Amazon and others to start accepting crypto. This is something that people are still waiting for.
Thus, it makes more sense to start the process from within. Stores, markets, and a host of other concepts will appear offering some of the basic goods and services that people need. It is time for the ultimate use case of crypto be established: paying for the goods and services that we need.
Here is the opportunity. It is important to remember that eCommerce was not dominated by the traditional retailers. They saw little reason to embrace the new medium called the Internet. Instead it was a group of start ups led by Amazon that created a radical shift in the entire industry.
For that reason, we will have to see the foundation for the next Amazon laid. It will likely start with a number of marketplaces, all vying to grow and get more users. Over time, a few will start to gain recognition and leave the others behind.
The idea of accessing what is hundreds of billions of dollars in capital should excite merchants. However, by providing this use case, we could see that number jump into the trillions.
As someone who makes a "home" on Hive, I can foresee a lot of this developing on here. While the results are not the same as on Ethereum in terms of the numbers, many of the basic concepts are already being formed on Hive. In the end, a 10x is still a 10x, regardless of where the starting point is.
Hive is large enough now that a move like that will have significant impact.
Thus, for fun, I will say that my ultimate Hive prediction is a 21X in the entire ecosystem for 2021.
I will leave it up to the readers to determine the metrics used to collaborate that forecast.
If you found this article informative, please give an upvote and rehive.
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That's a great view from the "future", @taskmaster4450.
I am so confident in 2021. It will probably be my best year in the world of cryptocurrencies
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It would make sense. 2020 was the best year yet for cryptocurrency and the expansion of the industry.
We will only see this continue.
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I also have good reason to expect a much better 2021 in the cryptocurrency world.
We will have more memberships, some alts with more solid projects will stand out even more making their price take off.
I still have hope for HIVE, the curious thing is that if we look at the last 3 years and compare how it is today it is kind of surreal to see how much its price is underestimated.
For me, thanks to LeoFinance this was without a doubt my best year when it comes to crypto.
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We have come a long way. To think that Hive is only 9 months old at this point.
The next 12 months will see a great deal.
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Not much to say besides great read, as always, on my lunch break so not much time.
100 percent upvote, reblogged and tweeted.
Bradley
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The year 2021 will definitely be an interesting year, hoping that it will be a post-covid year. I understand some of what you say will happen, others don't. I haven't seen other blockchains, I don't know how it works and what it can do there, as you know,and I have a question: why did you choose Hive to be your home? Because it will be my home too, but I didn't choose it knowingly.
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don't forget blockchain gaming will be dominate 2021 too 😁
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A lot of potential there. We will see how things take off in that arena.
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don't forget blockchain gaming will be dominate 2021 too 😁
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I would be okay with 21%. That would be pretty sweet. Like you said, there are a lot of things to be excited about. I was getting lost in Twitter the other day and it is amazing the number of people that are just begging for others to shill projects to them. They say "what alt should I buy" and there are a million different answers and only one or two of them I have actually heard of before. I like the idea that not all coins are going to pump this time. We need some kind of shake out. I just hope that the tokens I hold are the ones that do pump :)
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I would be okay with 21%. That would be pretty sweet. Like you said, there are a lot of things to be excited about. I was getting lost in Twitter the other day and it is amazing the number of people that are just begging for others to shill projects to them. They say "what alt should I buy" and there are a million different answers and only one or two of them I have actually heard of before. I like the idea that not all coins are going to pump this time. We need some kind of shake out. I just hope that the tokens I hold are the ones that do pump :)
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I would be okay with 21%. That would be pretty sweet. Like you said, there are a lot of things to be excited about. I was getting lost in Twitter the other day and it is amazing the number of people that are just begging for others to shill projects to them. They say "what alt should I buy" and there are a million different answers and only one or two of them I have actually heard of before. I like the idea that not all coins are going to pump this time. We need some kind of shake out. I just hope that the tokens I hold are the ones that do pump :)
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Interestingly when I look at the charts the bull run seems to have taken off in June, most people think it is just beginning. Does that make it all closer to the peak? Only time will tell. However, cheers to the projects that were borne out of the bear...chances are that they will keep flying come what may
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That is really a nice claim. Kind of a quality seal hopefully
A x21 is a nice outlook for the next 12 months ;-)
I am really curious about the new economic model that may evolve out of the technology. It could be that this will put capitalism on steroids, but it is also possible that we will see the development of a client economy. With the possibility to transfer a fraction of ownership with every buy you do, this might lead to a much more tied economy that is not only about "who could sell for the cheapest price". Instead, we might see the beginning of businesses owned by their customers, and (at least for me) it is not so clear what these new forces may result in. Anyway - interesting times ahead! I take your x21 as a given ;-) for HIVE and hope for an even bigger multiplier for LEO
Hey, @taskmaster4450.
I'm in full agreement regarding the primary use case for crypto—spending it. There needs to be more to growth than just speculative investments. There needs to be a commerce engine, and I feel that HIVE is strongly suited for this.
I'm also in agreement that it will take some doing from within, rather than waiting on some major existing businesses to adopt. Unless they're still trying to innovate and experiment to grow rather than hold defensive positions (and in some case, anti-competition ones) to maintain dominance, they're more likely to fight against such change than they are to adopt it, or set out to create their own.
I like the term marketplaces. We've had some stores, but so far, they haven't gotten very far. I'm not even sure if any are still up and running.
A marketplace, though, suggests a place where people can go to find a variety of products and services from a variety of different providers. It also suggests opportunities for B2B and not just B2C.
And having multiple marketplaces competing against one another will help spur motivation, innovation and will no doubt bring in some of that investing everyone seems to want, because, hopefully, there's real word use scenarios happening there.
It is something that will really push things forward.
I am not sure why we havent seen the development of them but it is an area that is lacking at the moment.
We will see what gets created over the next 12 months.
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I would be okay with 21%. That would be pretty sweet. Like you said, there are a lot of things to be excited about. I was getting lost in Twitter the other day and it is amazing the number of people that are just begging for others to shill projects to them. They say "what alt should I buy" and there are a million different answers and only one or two of them I have actually heard of before. I like the idea that not all coins are going to pump this time. We need some kind of shake out. I just hope that the tokens I hold are the ones that do pump :)
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I would be okay with 21%. That would be pretty sweet. Like you said, there are a lot of things to be excited about. I was getting lost in Twitter the other day and it is amazing the number of people that are just begging for others to shill projects to them. They say "what alt should I buy" and there are a million different answers and only one or two of them I have actually heard of before. I like the idea that not all coins are going to pump this time. We need some kind of shake out. I just hope that the tokens I hold are the ones that do pump :)
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I'm really excited for 2021, there are so many new all-around news for Hive!
It will be the year of recovery for our community!
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I'm excited to see HIVE finally enjoy the Hype around BTC for next year.
I can't see HIVE for less than a dollar. Who knows, we will see this in 2021? Potential we know you have.
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Honestly speaking, this is bigger than I imagined. Sorry am new here that's why I said that. I was interest by the topic but now the content left me thinking, the masses seems to have adopted crypto currency but somehow it mirrors back the fact that a bigger number have not. Your perspective on Hive future is highly relatable. You know just like a mother(Hive) births kids(other tokens) I'd say that a success and growth of your kids are equal credits to you. Hopefully this forecast plays out, because nothing could be better to anticipate.
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We will have to see what the next 12 months brings but we know that the masses are nowhere near cryptocurrency.
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Honestly speaking, this is bigger than I imagined. Sorry am new here that's why I said that. I was interest by the topic but now the content left me thinking, the masses seem to have adopted crypto currency but somehow it mirrors back the fact that a bigger number have not. Your perspective on Hive's future is highly relatable. You know just like a mother(Hive) births kids(other tokens) I'd say that the success and growth of your kids are equal credits to you. Hopefully this forecast plays out, because nothing could be better to anticipate.
Wonderful read. I have to keep this in mind when I am finally able to see all the posts/videos on hivefest. I have a few ideas I'm hoping I see adressed.
XRP the centralized chrypto caught by SEC 2020