Former Bloomberg Analyst Says AI, NFTs and Three More Crypto Use Cases Will Drive Blockchain Adoption

20 views 2:30 pm 0 Comments November 23, 2023

Crypto analyst Jamie Coutts says five key trends will drive the mainstream adoption of blockchain technology.

Coutts, a former crypto market analyst at Bloomberg Intelligence, says on the social media platform X that payments, account abstraction, real-world assets, non-fungible tokens (NFTs)/gaming, and artificial intelligence (AI) will all accelerate global blockchain usage.

In terms of payments, the analyst predicts that stablecoins will become “ubiquitous in developed and emerging economies.”

According to the Crypto Council for Innovation, account abstraction aims to enable smart contracts to function without requiring blockchain users to relinquish control of their funds to the agreement. Coutts believes account abstraction will meld the web3 user experience into web2 and enable “next-gen programmable financial products.”

Regarding real-world assets, the analyst predicts a “tokenization supernova is coming.” Coutts draws attention to a recent report from 21. co that suggests the tokenization sector could scale to $3.5-$10 trillion by 2030. 21. co is the parent company of 21 shares, the world’s most significant crypto exchange-traded product (ETP) issuer.

Coutts also says blockchain scaling is “priming NFTs for mass adoption,” arguing that non-fungible tokens will become central to corporate customer loyalty strategies.

Lastly, the analyst argues that “blockchains will bank the machines.”

“Smart contract wallets will allow humans to empower AI to transact on-chain.”