Institutional adoption in blockchain and crypto at its highest point, says BlockDaemon strategist

At the Token2049 conference held in Dubai on April 20, Barnaby Hodgson from BlockDaemon shared his insights about the future of the blockchain and cryptocurrency industry.

In spite of an unusual storm that brought heavy rainfall not witnessed in the UAE for about 75 years, people managed to attend despite the challenging weather conditions.

Hodgkins, the Senior Manager of Growth Strategy at BlockDaemon, had a conversation with Ezra Reguerra from CryptoMoon about the present situation in the industry and future prospects.

As to the current state of the industry, Hodgkins says there’s still room for growth:

“I would probably say that institutional adoption in the space is at its highest point it’s ever been, but I wouldn’t mistake that with saying that there’s loads of institutional adoption.”

“He went on to emphasize that this is a record-breaking level, bringing about considerable optimism for the future events.”

Hodgkins pointed to the introduction of the initial Bitcoin spot ETFs in January and the subsequent surge in popularity as optimistic signs. However, there seems to be ample room for further growth in terms of adoption.

“When it comes to wide scale adoption in institutions across the spectrum of institutions, from asset managers to pension funds, to hedge funds, to sovereign wealth funds, I think we’re still very much at the foot of the hill.”

Hodgkins, as the growth manager of BlockDaemon, which is recognized as the foremost provider of blockchain infrastructure globally (BlockDaemon), possesses a broad perspective of the blockchain industry.

Its services cover “the full range of infrastructure requirements, including direct node access, API capabilities for running validators, and staking rewards, as well as advanced Multi-Party Computation (MPC) wallet technology.”

According to Hodgkins, the upcoming cycles may bring about more groundbreaking developments for the industry. He shared with CryptoMoon his perspective that an Ethereum Exchange-Traded Fund (ETF) could soon be a reality. Furthermore, he emphasized the vast possibilities of blockchain and cryptocurrency technology in various industries like automotive and transportation, potentially leading to widespread adoption.

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2024-04-19 23:06