Analyzing the speeches of more than 355 speakers who took the stage at the Paris Blockchain Week Summit event held a few months ago in the French capital, the company has compiled a report to reveal what would be the 8 trends, or hottest topics, in the blockchain industry.
The 8 trends in the blockchain industry
First, let’s talk about exchanges. One of the big players at the Paris Blockchain Week Summit was Binance, which was among the main sponsors of the event, but also present were Huobi, Crypto.com, FTX and many other crypto platforms. According to the report, trading volumes on all exchanges in 2021 reached an impressive $14 trillion and Coinbase earned a net $2.5 billion.
The second trend is definitely DAOs (Decentralized Autonomous Organizations) as the perfect way to organize Web3 projects. For example, according to Messari CEO Ryan Selkis, who was just speaking during the Paris Blockchain Week Summit, there are over 500 thousand users populating over 5,000 communities to date.
Next, it is impossible not to talk about regulation, a hot topic in the crypto world. Indeed, there were many panels related to new European laws and what the industry needs or the problems with rules that are often limiting. Caroline Malcolm of the data monitoring firm Chain Analysis, reminded that only 0.15% of transactions are related to illegal activities, which suggests that often times the stringent rules aimed at controlling transactions that take place in crypto are nothing more than a way for governments to limit use, or monitor, and not really to limit wrongdoing or scams.
CBDCs, i.e. state-backed cryptocurrencies, and also stablecoin payment methods in crypto and DeFi are some of the other topics among the 8 trends of the moment.
Very important for the whole industry are cross-chain applications that can make the various blockchains interoperable and connect all crypto ecosystems.
Let’s not forget NFTs. Non-fungible tokens lead the way in this report from the Paris Blockchain Week Summit with dozens and dozens of panels and sponsors talking about these topics. According to CRVE co-founder Aristide Bui, the NFT market has also become a form of vegetable capital and is estimated to have over $7 billion in revenue by 2022.
“NFTs merge multiple use cases. For example, it has become a form of venture capital with investors funding a project and a vision. However, this is combined with clever social signaling features mixed with a new type of digital culture”,
Finally, talking about NFTs, let’s turn to blockchain-based video games, which could facilitate mass adoption.