Blockchain technology will continue to demonstrate its potential in 2021. Although we have seen progress in 2020 in the adoption of Blockchain technology, the community expects 2021 to be the year when the technology is actually understood and applied. In fact, according to a Forrester report, 2020 has been a key year for the growth of Blockchain technology at the enterprise level and the DLT technology space. In addition, the report points out that almost all of the 2020 initiatives will move from the pilot phase to the production phase during 2021, including solutions such as those of Alibaba, Huawei, IBM, among others.
Here is why the United States should adopt the stablecoins. Will there be an increase in regulation in 2021? As mentioned before, 2020 has been a key year for crypto adoption, especially with giants like PayPal introducing crypto-based solutions. Obviously, the greater the noise produced by the crypto market, the more public attention and debate will be generated regarding regulation in 2021. In fact, 2020 was not an easy year for many crypto companies in terms of regulation. Just this year, the Securities and Exchange Commission (SEC) collected $40 million in fines, according to The Block Crypto. Without going too far, the SEC recently filed a lawsuit against Ripple Labs for the sale of XRP, which, as many know, has sunk crypto. Therefore, there is no reason to expect that 2021 will be more flexible with the crypto market in regulatory terms. The likelihood is that something completely opposite to flexibility will happen. How will it affect the crypto market? That will depend on how the regulation is structured since, at least in itself, it does not have to be something negative for the market. Let's remember that as clear and appropriate regulation is put in place, more investors will be willing to participate.
