According to CoinDesk, the future of the cryptocurrency industry lies in innovative technology, real-world asset adoption, and the increasing involvement of established financial institutions. The recent partnerships between Chainlink and other financial institutions, such as Swift, Google, ANZ, and DTCC, provide an example of the kind of meaningful innovation the industry needs. Chainlink's groundbreaking cross-chain interoperability protocol (CCIP) technology enables financial institutions to launch their own private blockchains that interact with decentralized, public blockchains like Ethereum.The transfer of value on blockchains via stablecoins surpassed both PayPal and Mastercard in 2022, indicating the potential for financial rails to transition to blockchain technology. The deployment of real-world assets (RWAs) on the blockchain is also in its early stages, with over $3 billion worth of RWAs purchased through decentralized blockchains this year alone. This has created a series of cashflow-generating businesses with strong future prospects, such as MakerDAO, which has undergone a quiet revolution with its revenues now heavily driven by RWA yield rather than native crypto lending.The potential for industries like music and film royalties to benefit from transparency, fractionalization, wider access, and fewer middlemen through blockchain technology is also significant. The promise of 'SocialFi', a decentralized and transparent world of social media where users own their own data and identity, is another enticing prospect for the future of the crypto industry.
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