Looking back over my past predictions about the future, it’s clear that my columns have represented a lot of wishful thinking. Like Oscar Wilde, who once said he could resist anything except temptation, I can predict anything, as long as it’s not about the future.
Although I’ve often been wrong about what will happen in any given year, I do think some of my major forecasts have turned out to be directionally correct. Nor am I content to be a sideline observer. I’m building a blockchain business and technology with the express purpose of influencing that future path.
This post is part of CoinDesk’s “Crypto 2024” predictions package. Paul Brody is EY’s global blockchain leader and a CoinDesk columnist.
The future I’m working to build is one built on the public Ethereum ecosystem with robust, regulatory-compliant business transactions, and meaningful privacy protections. In this open, censorship and monopoly-resistant model, we can build a kind of universal business infrastructure that makes snapping together business interactions a simple, scalable, and reliable experience. In this vision of the future, financial services are easy to integrate and serve their intended purpose: to funnel capital to useful projects from start-ups to green energy projects.
The path here has been much slower than I would like, but the progress is real. In the 10 years I’ve been in this sector, eight of them at EY in this role, we’ve seen enterprises embrace tokenization, Ethereum has become the global standard, and the fashion for permissioned chains, though not dead, is slowly fading out.
Enterprises have also embraced fiat currencies alongside crypto, and the ecosystem has largely conquered the scalability challenges though L2s. We are also remarkably far along the path to solving privacy challenges with zero knowledge tools and applications as well.
As always, much of that progress came about during the dark times of our crypto winters. We’re not out of the winter yet, but I am hopeful that we are not far away. Indeed, I see the gradual implementation of the Markets in Crypto Assets (MiCA), which happens in Europe from June 2024, as an important milestone on the path back towards our next blockchain summer.
I have three hopes about the coming summer, which I’ll go ahead and call “predictions.”
Sustainable…
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