![]() ![]() These criteria are data driven and the richer and more reliable the data, the more trustworthy are the ESG criteria. ESG criteria are used to help investors determine if a company is environmentally conscientious, socially responsible, and governed ethically. We are seeing several promising supply-chain related use cases that support ESG goals. Trend 2: Truth in Supply Chain – driven in part by Environmental, Social, Governance (ESG) goals Tokenizing fiat currency into stablecoins will no doubt increase blockchain distributed ledger financial transactions and accelerate technology adoption. Central Bank Digital currencies – at least forty countries are experimenting with digitizing their fiat sovereign currency, of which about five – most notably China- have already issued it.Maturing Defi applications will be embraced by traditional centralized financial companies and integrated into blended CeDeFi offerings (see What You Need to Know About Blockchain DeFi) bringing together the best of both centralized and decentralized financial systems – old school regulatory protections with new school innovative financial infrastructure and products. CeDeFi – Centralized Decentralized Finance By 2022, DeFi technology will be ready for early enterprise adoption as long as regulatory guidance is clear. ![]() Treasury and FinCEN ( Why a16z Opposes Secretary Mnuchin’s FinCEN Midnight Crypto Rulemaking) We believe the pendulum will swing towards the middle in 2021, as a more crypto-friendly Biden Administration takes hold. Regulatory landscape We’ve seen both encouraging rules come out of the OCC bank regulator (see Federally Chartered Banks and Thrifts may Engage in Certain Stablecoin Activities and Federally Chartered Banks and Thrifts may Provide Custody Services for Crypto Assets) and discouraging innovation-killer rules coming out of U.S. Large mainstream bitcoin holdings should fuel innovation in Decentralized Finance applications where bitcoin can be used to collateralize loans, borrowings and other financial instruments, rather than just sit around as a stored (digital-gold-like) value. Bitcoin is now endorsed by mainstream investors like Stanley Druckenmiller and Paul Tudor Jones and is a growing piece of MicroStrategy’s corporate balance sheet, courtesy of CEO Michael Saylor. Trend 1: Maturation of Cryptocurrencies and Central Bank Digital CurrenciesĪs it turns out, Bitcoin’s stellar appreciation is not inconsequential to the growth of enterprise (permissioned) blockchain. We expect production use cases to keep growing by double digit percentages in 2021, as three key trends push the permissioned blockchain market up the Gartner Hype Cycle ‘slope of enlightenment’. (See Blockchain Trials show Business Executives Drive Focused Solutions to Production). Our annual Gartner survey of blockchain service providers revealed that 14% of enterprise blockchain projects moved into production in 2020, up from 5% in 2019. The climb will be slower than the recent stellar rise in Bitcoin’s price, but it will move forward nonetheless, surely and steadily. (See Gartner Hype Cycle for Blockchain Technologies, 2020). 2021 is the year enterprise (permissioned) blockchain begins its long climb out of the ‘trough of disillusionment’.
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