I've covered RWA's (Real World Assets) in the past but it's becoming now more and more apparent that this is actully taking place right now even with the falling of crypto prices in the last week.
2024 Has been one of the biggest years for crypto. While it might feel like much has happened we actully had one of the largest adoptions ever and legitimacy of crypto this year than any pervious year. We have so far seen the release of a Bitcoin ETF and we should also see one around September of this year for Ethereum and who knows what after that.
Something that is often not talked about or is very limited is fortune 500 companies. The top 500 USA companies that are the largest. We mainly hear in headlines about ETFs being approved and Blackrock doing this or that but what about all the other companies what have then been doing just sitting around?
Well it turns out that over half of them have on chain projects which is up a rather large amount year over year. There's also heavy push towards Tbills otherwise known as treasury bills which has seen a massive 1,000% increase year over year (no wonder why the USA is warming up to it) and the other half of the companies around 125 have said they will likely seek out crypto savvy job applications. That would mean by end of year the fortune 500 companies around 375 will have exposure to crypto. A whopping 75%.
These companies are focusing in these key areas for building crypto projects within their companies.
- Payments/Settlements
Is the number one use case for companies and this makes sense for things like payroll or paying for other services or even launching their own projects. - Interfacing
- Trading Products (ETFs)
- Smart Contracts
- Tokenization
The biggest things that are holding back major adoption are regulations that are unclear and the regulation by force we have seen over the last four years and let me be super clear about this once again. If Biden wins this president election we will once again have four years of regulation by enforcement. Do you really believe the white house government that has been battling crypto for the last four years is going to really turn face once they are elected back in for another four years. If you think so I'm sorry to say but you're damn stupid.
The other reason is lack of developers to build these projects. That's actully interesting because I've been seeing this as well. It's rather hard to come by good developers that know what they are doing. And the crypto sector is high risk. Most developers will instead work for a company and maybe do a little crypto on the side.
What we can for sure see by all of this is that crypto is being massively adopted. It's doing this in many ways. Not only is it being bought and held by companies now such as MicroStrategy but they are also launching their own tokens, building on the blockchain and contributing to the overall ecosystem in a big way.