Cryptocurrency

Charles Hoskinson Makes 2030 Predictions, Suggests ”Universal Wallet”

Charles Hoskinson Makes 2030 Predictions, Suggests ”Universal Wallet”

Charles Hoskinson recently played guest in an interview with the blockchain and cryptocurrency news outlet BLOCKTV. In the interview, Hoskinson expanded upon his vision for the future of the wider cryptocurrency and blockchain ecosystem.

Hoskinson commented on some developments he foresees for the year 2030

Published on Wednesday, April 10th, this video comes just days after another significant Hoskinson interview previously covered by Toshi Times. In this latest interview, however, Hoskinson also shared his insight on the ecosystem as a whole, predicting how it might change society on a macro-level.

Specifically, the Cardano and IOHK co-founder was asked to describe his ”dream world” in the year of 2030.

Nevertheless, Hoskinson noted that one should not be too deterministic in making predictions about the future – however, he ceded that there is a number of quite reasonable trends that may shape society in the years to come.

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First of all, Hoskinson suggested that some cryptocurrency-related fundamentals would likely be improved drastically.

He noted that the scalability, interoperability and quality of the cryptographic protocols that guide the cryptocurrency industry would see ”exponential growth” and eventually reach convergence at a point where the industry has ”pretty good privacy and pretty good scale.”

In addition to this, Hoskinson also remarked on the cryptocurrency wallet capabilities integrated into the Samsung Galaxy S10 and suggested that this will become the norm within three to five years, with ”almost all major cellphone manufacturers [equipping their devices] with  these capabilities.”

Hoskinson predicts the emergence of a ”universal wallet”

Moreover, he also expanded upon the potential prospect of a so-called ”universal wallet” – which represents the convergence of growing interoperability between traditional currencies, cryptocurrencies, as well as completely different asset classes.

In effect, this would mean that users would be able to use any type of assets, whether these are federalized, decentralized, regulated or unregulated, to pay for purchases. Furthermore, all of the users’ different assets would consequently be ”living in one interface.”

Hoskinson posited that this would allow users to more freely use their assets to pay for purchases, with seamless transitions to any other asset.

Although this is admittedly a pretty optimistic prediction, Hoskinson explained how this would mean that people would no longer measure their wealth in dollars – but rather in the aggregated wealth of their entire portfolio.

”So you can go to Starbucks and you pay them in silver and they get dollars, and I you can go to McDonald’s and pay with them in airline miles and they get euros, and that whole thing is instantaneous.”

Furthermore, Hoskinson was also asked about whether or not the ”cryptocurrency winter” is indeed thawing, as some have suggested.

Hoskinson did not give a concrete answer regarding this, noting that if he had been an expert at predicting market movements, he would probably have become a trader rather than an engineer.

Nonetheless, Hoskinson highlighted that the focus on the price of cryptocurrencies is misplaced, and urged that people would instead look at the fundamentals of different cryptocurrencies and how these continue to evolve.

Image Source: “Flickr”

Ledger Nano S - The secure hardware wallet