What Services Will Be Paid for With Crypto the Most and Why?
2020 is a special year for the crypto industry as a whole. We’ve gone through a bit of turbulence during these past two years, but even after all that time crypto still has not achieved mass adoption (an explanation for this is here). So now it’s time to pause and reflect on where we are now, how crypto payments (the major part of an industry) are used, and what will be the result at the end of the year.
Which is why I talked with business founders who deliver their products on a daily basis and feel the coming trends at their fingertips.
Just to get a clearer picture of what real crypto payment usage looks like, we selected a broad array of industries ranging from infrastructure to financial services. Here is the full list of the founders who participated in our survey. When reading their predictions, feel free to read about the company themselves to better understand the reasoning behind their predictions.
*None of what is written in this article is financial advice. Crypto is a high-risk asset, and you need to do your own research before making any decisions regarding crypto.
Infrastructure:
- Alvin Reyes, Co-Founder and Chief Technology Officer of ProximaX – A decentralized technology stack (blockchain, storage, streaming, and smart contracts) for building the next generation of data privacy-centric applications.
- Ken Sangha CEO of Open Platform – Develops tools and infrastructure for traditional developers to tap into new and exciting decentralized technologies.
- Matthew Niemerg from Alephzero.org – A novel DAG protocol that aims to solve known blockchain issues.
Social and games:
- Tony Tran, Founder of Alfa Enzo — A marketplace that lets anyone buy and sell attention.
- Alexander Palmer, Editor in Chief of CasinosRealMoney.com – In-depth casino reviews to help players make better and safer choices.
- Ivan Chebotaev СEO of Betmatch – Transparent betting platform using blockchain.
Fintech:
- Dave Waslen is CEO/Co-Founder of HedgeTrade – A blockchain-based social trading platform and predictions marketplace.
- Nemr Hallak, from Volentix.io – Cross-chain decentralized exchange.
- Brian Kerr CEO of Kava.io – A multi-chain DeFi platform for lending.
Business & Educational Services:
- Jan Sammut CEO at ICO Launch Malta and IBIS Brokers – Full-service ICO and security token offering (STO) platform that will manage every aspect of your ICO project.
- Brandon Elliott, CEO of Neosys – Provides secure solutions for today’s up-and-coming pioneers.
Let’s see what each founder predicted – each answer we tried to support with the current statistics.
DeFi will be the fastest growing sector in 2020
Decentralized borrowing, lending, and trading has been a hot topic for the past year. It started from ~$240 million in January 2019 (based on defipulse.com) and jumped to ~$700 million at the end of 2019 – 3x growth through the year.
Matthew Niemerg from alephzero.org expects 100% growth at the end of 2020:
“Be on the lookout for an increase in trading volume of the decentralized exchanges and derivatives markets as well as collateral locked in DeFi-lending protocols. In 2020, we’ll see further advancements in these three components with an emphasis on