Experts predict widespread adoption of stablecoins driven by crypto regulations by 2030 at Hong Kong’s WOW Summit
Blockchain industry specialists spoke at the WOW Summit in Hong Kong, where they predicted that by the year 2030, crypto legislation will lead to the widespread adoption of stablecoins.
Crypto regulation: by 2030, stablecoin adoption will increase
International blockchain industry experts discussed regulated stablecoins at the WOW (World of Web3) Conference in Hong Kong.
In particular, the group discussed the use of regulated stablecoins and their current market growth rate during the panel “Digital Assets: Policy & the Way Ahead.”
In this context, Alexandra Sasha, the first woman elected to the Danish Parliament and a supporter of blockchain innovation, said:
So I think there’s still two forms of need because you will have people who will want to centralize the digital era, and you will always have the people who do want this decentralized way of using payments, of course, unless it gets banned, but I do not think that’s the goal of anyone.
Despite the current rivalry between TradFi and DeFi, digital regulatory experts foresee widespread use of stablecoins worldwide by 2030.
Stablecoins and centralized vs decentralized cryptocurrency regulation
Securities Exchange Commission of the Philippines commissioner Kelvin Lester Lee also discussed 2030 stablecoin adoption.
Lester Lee reportedly stated that he is unsure whether or not regulated digital assets would be so successful in 7 years, but that they may still exist in various forms.
Last but not least, Douglas Arner, a University of Hong Kong professor active in the connected fields of finance and technology regulation, took part in the discussion by offering his viewpoint.
In the metaverse and crypto sectors, Arner asserts that competition between centralized and decentralized systems is already taking place and will continue to do so in the future.
Despite this, Arner believes that regulated stablecoins will become the most widely used kind of currency used in blockchain applications before the end of the decade.
Nearing a $80 billion market valuation is Tether (USDT)
The most well-known and commonly used cryptocurrency is Tether (USDT), whose market cap has increased to $79.80 billion, or close to $80 billion.
USDC, currently at $32.51 billion, fell in value last week. BUSD decreased from $8 billion to $7.55 billion over the past week as well. DAI, meanwhile, has a market value of around $5.3 billion.
According to reports, USDC announced the stablecoin’s release on the Cosmos blockchain, making it usable for all of its more than 50 Cosmos IBC blockchains.