Institutional adoption of blockchain and crypto is at its peak, says BlockDemon strategist
BlockDaemon's Barnaby Hodgkins recently spoke about the future of the blockchain/cryptocurrency sector at the Token2049 event in Dubai on April 20th.
Despite the heaviest rainfall the UAE has seen in 75 years, the crowd braved the weather.
Hodgkins, BlockDemon's General Manager of Growth Strategy, sat down with Cointelegraph's Ezra Reguerra to discuss the current state of the industry and what the future holds.
Regarding the current state of the industry, Hodgkins says there is still room for growth:
“I'd probably say institutional adoption in the space is at its highest ever, but I wouldn't be wrong to say there's a lot of institutional adoption.”
Asfaw said there is still work to be done, adding, “It's the most that's ever been done, so there's a lot of reason to be pessimistic about what's going on.”
Hodgkins cited the launch of the first Bitcoin spot ETFs in January and the subsequent adoption rate as bullish indicators. But there seems to be plenty of runway left for adoption:
“In terms of broad adoption among institutions, from asset managers to pension funds, from mutual funds to sovereign wealth funds, I think we're still at the bottom of the hill.”
BlockDaemon and by extension its development manager Hodgkins are well placed to get a bird's eye view of the blockchain industry. The company is, according to Hodgkins, “the world's leading blockchain infrastructure provider.”
The services “requires the entire infrastructure, from dedicated node access, API access capabilities, to process validators and rewards, to MPC wallet technology.”
Hodgkins says the next few cycles could bring more industry-changing events. “What we'll see in the near term is Ethereum ETFs,” he told Cointelegraph, adding that the myriad uses for blockchain and cryptocurrency technology could lead to mass adoption in industries such as the automotive and transportation sectors.
Related: Why are memecoins good? A social symbol, says the founder of Avalanche
