Three Predictions For The Year Ahead In Digital Finance
It’s fair to say the permissionless crypto world seemed to do all the running in the blockchain space in 2021. But that doesn’t mean those of us working to bring advanced cryptographic techniques to the world of business were resting.
Indeed, and despite the ongoing challenges of the pandemic, 2021 was a year of significant progress for the digitisation of capital markets. 2022 will be another unprecedented year in financial technology – and the following three trends look set to continue reshaping the landscape for market participants, governments, regulators, and infrastructure providers over the next 12 months.
1. The quest for trust will dominate the digital realm
We never think about it in our day to day lives but the ability to develop trust in each other in the real world is what has, uniquely, unleashed humanity’s potential. Trust is the cornerstone of human civilisation.
And as more of our personal and professional lives move into the digital realm, the sheer lack of trust in the digital realm is a trillion-dollar problem the industry must tackle in 2022.
Trust allows us to do things that would be almost impossible if we had to verify everything for ourselves. Can you imagine, for example, aviation if you couldn’t trust the airline’s safety engineers? And how often have you relied on a trusted brand when searching for a meal in an unfamiliar location? Imagine if you had to check the ingredients yourself before tucking in! Put simply: if we can trust, we don’t have to verify.