Blockchain digital marketing agency CoinPoint has unveiled its top blockchain predictions for 2020, in what the firm predicts will be another significant year for cryptocurrency.
In a Medium post, CoinPoint set out 10 projections for the year to come, starting with the rise of central bank digital currencies.
Quoting Professor Keyu Jin from the London School of Economics, CoinPoint suggests 2020 could see China moving closer towards issuing the world’s first major central bank digital currency.
There’s a consensus around the world among central bank governors and governments at large that they want to have control of money and money supply. [The need for control] is probably more unique to China than anything else.
In the year to come, CoinPoint expects Facebook’s Libra to make its debut, albeit with limited partners and functionality in the first release. The same is true of stablecoins in general, which CoinPoint feels will launch in increasing number over the year.
2020: Another huge year for BSV
In particular, CoinPoint predicts 2020 will be another huge year for Bitcoin SV, as it returns to the origins of Bitcoin based the original whitepaper.
The predictions for BSV are based around the forthcoming Genesis update, which CoinPoint believes will help establish BSV as the dominant cryptocurrency of the future.
Steve Shadders, Chief Technology Officer and Technical Director of the Bitcoin SV Node team at blockchain research firm nChain, described how Bitcoin would evolve in 2020: “With the Quasar upgrade, Bitcoin is beginning a cultural transition as miners start learning it is their role to manage block sizes based upon market forces and their own economic incentives, rather than leaving block size to be arbitrarily dictated by protocol developers.”
In February 2020, the BSV network will take another step in this transition with its ‘Genesis’ upgrade — in which the Bitcoin SV Node team will completely remove the default hard cap (or more accurately, the default hard cap will be infinite). This will open the door to infinite scaling of the BSV network, and foster the new Bitcoin culture where miners are responsible for block size.
For CoinPoint, 2020 looks set to become the year cryptocurrency finally comes of age, with more mainstream adoption and development – particularly around BSV.
As 2019 draws to a close, the world is waiting for Bitcoin—the original—in 2020.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.