2021 Age of Crypto-Commerce Arrives!

Bruce Chau, Chief Services Officer, IJS Technologies
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Bruce Chau, Chief Services Officer, IJS Technologies

For the past few years, we at IJS Technologies have been advocating that organizations prepare for the age of crypto-commerce and for 2021, we urge companies not only to prepare but to embrace this reality. In recent months we have witnessed the growth of mainstream crypto acceptance with companies like NASDAQ listed Microstrategy Corp investing over USD475 million on Bitcoin, Square investing USD50 million, and funds like Grayscale Bitcoin Trust with Assets under management exceeding $13B USD.

Mainstream payment gateways such as Paypal, Square and Visa are also increasingly open to cryptocurrencies. Overall, we believe this trend will continue as the coming decades will become defined as the age of crypto-commerce. An incredible opportunity exists for early adopting organizations to take a leadership position as the crypto-commerce landscape begins to take shape.

For 2021, here are our top 5 predictions:

1) Crypto Market Cap will break $1 Trillion USD: As of the writing of this article, the crypto market has been going up almost parabolically reaching a market cap of over 650B USD.
We believe a pullback is inevitable, however we also believe that the crypto market will surpass the $1T mark and eventually stay above it.

2) Mainstream Acceptance & Regulation of Crypto: One of the driving factors for the rising crypto market cap is the increasing normalization of crypto currencies as an investment and trading vehicle and the usage of stablecoins for transactions. The tremendous push towards digital products accelerated through the Covid experience is bound to push this trend along faster than it would have grown under normal rates.

3) DeFi leads the way in FinTech innovation: The interlinking of financial technologies from trading, to insurance and asset allocation has been promised by many fintech initiatives, however, bringing such innovation to reality remains underwhelming. In the self-motivated world of DeFi, innovations happen quickly and either grow or fail at record times. With a growing base of DeFi services and automated technologies, DeFi is poised to lead the way in proving and identifying new models of finance.

4) Sophisticated Enterprise Crypto Wallets: As organizations enter the age of crypto-commerce, the need to store, manage and delegate tasks will grow. The days of keeping everything on a hardware Trezor or Ledger wallet will not suffice for such companies and sophisticated enterprise crypto wallets will grow in use.

5) Cybersecurity becomes priority #1: In the age of crypto-commerce and digitalization, cyber security can no longer be an afterthought or a necessary evil. Organizations will realize that cybersecurity will need to take over as priority #1 as a hack or loss will overshadow years of effort and gains.

2020 has been a year of incredible hardship for many people and industries, however, it has been a positive one for those firms that have embraced digital technologies and cryptocurrencies. 2021 will benefit from the momentum established through the past twelve months.

At IJS Technologies, we offer advisory services and partner with organizations to deliver crypto-commerce solutions. Organizations entrust their digital assets in the IJS enterprise wallet, built on patent pending key management technology. IJS is a proud contributor to open source DeFi technologies to help enable the world for the age of crypto-commerce.

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Financial