3 “Bold” Predictions About Crypto in 2022
3 “Bold” Predictions About Crypto in 2022
Financial transactions, bitcoin mining and energy security are “hot” topics that many industry experts are analyzing with interest and forecasting for this year.
From issues related to climate change, carbon emissions, and the threat of global electricity consumption, many regions have given much attention to making Bitcoin (BTC) business and mining green. Knowing the pulse of the crypto industry, the Soluna Computing team offers unique perspectives and predicts some bold new trends for cryptocurrencies in 2022
Soluna Computing believes that greater adoption of decentralized finance transactions, renewable energy bitcoin mining and US leadership in this space are the highlights of 2022 (Display).
Decentralized Financial Transactions
Soluna CEO John Belizaire, one of the experts testifying before the US House of Representatives’ Energy and Trade Committee, sees the future of financial transactions as decentralized. He predicts that monetary and financial transactions will become more decentralized and expects that even small businesses will become more empowered to control their finances and bargaining power on a global basis.
“Like Coca-Cola, they use blockchain to really secure their transactions. But I hope that the change will not only focus on the structure of the supply chain, but also on the energy balance of such companies,” added Belizaire.
Renewable bitcoin mining.
Throughout 2021, the environmental impact of Proof-of-Work networks like Bitcoin will be a matter of controversy. While this is a hotly debated topic, Belizaire says current trends could soon put it in the spotlight.
“Obviously, from a cryptocurrency perspective, there will be a big focus on making the bitcoin mining business greener. I think this will be the main theme and focus for the next year. Especially in the US, we will see a significant increase in bitcoin mining operations and grid-connected data centers and green power sources,” he said.
The CEO added that the main forms of renewable energy that Soluna sees being used effectively are wind power and solar power. In it, his company uses the mobility of bitcoin miners to easily balance grid demand and supply, and helps renewable energy producers sell every megawatt of electricity they generate. Belizaire has argued in the past that Bitcoin’s energy use is a feature, not a bug, emphasizing how content is empowering millions of people around the world to become financially free. These views focus on the Bitcoin network’s ability to support the world’s renewable energy transition, as its mining processes can be easily paused and resumed when needed.
America becomes the center of crypto bitcoin mining.
A trend that has increased since China’s 2021 Bitcoin mining ban is the migration of miners to new jurisdictions. As they are looking for places to settle and not be hampered by local authorities, the US could become one of the top destinations for these entrepreneurs.
“The United States is becoming the center of bitcoin mining,” Belizaire said. Before that were China and other challenging jurisdictions. Or Kazakhstan is also a perfect example of how difficult different locations can be for companies.”
According to Soluna’s team, this change is likely to bring net benefits to the crypto industry. Additionally, several US states such as Texas and Wyoming have signaled their intention to be crypto-friendly amid efforts to relax legislation in the country and make it more accessible.
“Seeing the business shift to the US is very encouraging for the maturity of the industry. America has very strict laws, rules, investment capital in the industry and that capital is the institution. Imagine a world where U.S. miners use renewable energy to generate the bulk of the bitcoin for the market,” believes Soluna.
Based on the above predictions, Soluna Computing believes that greater adoption of decentralized finance transactions, renewable energy bitcoin mining, and US leadership in this area are the highlights of 2022 in the electronic money market. Over the coming year, the community will also monitor the activity taking place to confirm if these predictions are accurate.
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