Chatgpt forecast 8 things that will happen with crypto by 2033

Chatgpt forecast 8 things that will happen with crypto by 2033

Although everything started to found the Bitcoin network in 2009, the cryptocurrency industry was founded over a decade ago. While even more things have happened in this period that we can explain here, it is also worthwhile to imagine and speculate about what could happen in the next ten years.

For this reason we asked the extremely popular chatbot for artificial intelligence - chatt - on this topic and he provided some convincing scenarios about what could happen in the crypto world over the next ten years.

1. Greater acceptance in the mainstream

The most important thing first: Chatgpt outlined a "larger mainstream acceptance" that will take place within this time frame, since it is a matter of being an essential part of the global financial network and are used for transactions.

We have certainly seen developments on this front in recent years. Two of the giants in this area- Visa and Mastercard- have both signed several partnerships with cryptocurrency companies to enable their millions of dealers to accept payments via digital assets through their credit and debit cards.

Despite the setbacks in the industry last year, Visa's crypto boss recently confirmed the positive views of his company on this topic, as they are convinced that certain digital assets "have the potential to play an important role in the mining ecosystem".

MasterCard, on the other hand, recently introduced a special program that is intended to support banks in the introduction of cryptocurrency trading platforms.

MasterCard building. Computerworld

2. Extended regulatory framework conditions

Since acceptance increases, the AI ​​chat bot predicts that global supervisory authorities want to keep an eye on the development of the industry. This has been a hot topic in recent years, especially after the "setbacks" mentioned above last year - i.e. the collapse of Terra, FTX and the subsequent infection.

The United States were at the forefront, if not in a very positive light. Although some of the largest crypto companies are based there, the local regulatory authorities have failed to determine reasonable rules.

At the same time, the Securities and Exchange Commission has followed several companies and accused them of offering non -registered securities without indicating which digital assets are actually securities. The regulatory authority is also involved in legal disputes against several crypto giants, including Ripple and Greyscale.

Securities and Exchange Commission, Sec, building in Washington DC. The SEC regulates stocks and bonds as well as the associated financial activities.

3. Increased institutional investments

We received an insight into institutions that entered this area a few years ago, immediately after the outbreak of Covid-19. On the one hand, numerous prominent altinvestors such as Ben Miller, Stan Druckmiller and Paul Tudor Jones III expressed their support for Bitcoin and some old coins, while criticizing other investment options and monetary policy of the Fed.

On the other hand, institutional investment vehicles such as the huge insurance company Massmutual, One River Asset Manager and even Blackrock (the world's largest asset manager) have aroused their interest with certain investments or direct BTC purchases.

This even prompted the once dubious banking giant JPmorgan to forecast that other institutes could eventually follow. However, this changed last year - yes, they guessed it - after the collapse that started with Terra and continued with FTX.

JP Morgan

Chatgpt, however, believes that the chance is great that the sheet will turn again, especially if the two previous predictions come true.

4/5-interaction with financial services and blockchain introduction

We will combine these two with the first point of this list because of their kind and the similarity. Chatgpt claimed that in addition to the use of credit and debit cards, cryptocurrencies and blockchain technology could also be successfully integrated into other parts of the financial system.

This includes the handling of large transactions to a larger scale via blockchain networks, but also the integration of insurance policies and real estate transactions in addition to this technology.

According to the AI ​​chat bot, finance is only one of the areas in which blockchain could be introduced more and more. It is assumed that the technology could be used in several other areas, for example in supply chain management, healthcare and even government services.

6. Sustainability

investments in the areas of environment, social affairs and governance (ESG) were on everyone's lips when some global agencies often reported that Bitcoin mining was harmful to the environment. They managed to withdraw from the BTC positions as several investors, including Elon Musks Tesla, and put the miners under pressure to set the use of coal as fuel and to turn to more sustainable and environmentally friendly energy sources.

This is also one of the reasons why Ethereum The Merge completed last year - a development that made it possible for the second largest blockchain to cross the proof of stake from the more energy -intensive Proof of Work.

Chatgpt assumes that sustainability will play a major role in the industry in the next decade, as the environmental concerns continue to increase. Therefore, the chatbot predicted that cryptocurrencies that use more green energy will be the preferred choice for ESG investors (and others).

7. Defi extension

The decentralized finance is seen as a counterparty of the general financial system under which the world works today and which is completely centralized. This means that a third party is always involved in all their transactions, shops, etc.

Although Defi has been around for years, it is becoming increasingly popular in 2020. Projects from this niche, which are referred to as "defi summer", rose in terms of commitment, Total Value Lock (TVL) and prices.

This massive and fast introduction also revealed some problems in the industry, such as: B. a lack of scalability, the presence of blatant fraud, fraudulent projects and pirated copies as well as security problems. Raids or hacker attacks have lost cryptocurrencies worth several billion in recent years.

Nonetheless, Chatgpt believes that Defi survive his problems, improve the user experience and become an important part of the financial sector.

8. New technological innovations

The next ten years could bring a lot more use for ideas that we have not even thought of.

"There could be new cryptocurrencies with functions and uses that we cannot currently predict. These could be caused by technological progress or changed needs and conditions in society."

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