The future of crypto adoption

Written by Dr Martin Hiesboeck head of research at Uphold

If you own any crypto, you are probably familiar with certain words that excite the crypto spirits more than others, like “interoperability,” “to the moon,” or “adoption.” Adoption has traditionally meant mainstream companies, financial institutions and essential networks switching to one of the familiar crypto projects. Crypto bros have done “deep dives” into every single token out there and tried to assess who would use this blockchain for what. The Hedera Council, with its impressive line-up, could lead one to believe HBAR is the blockchain of choice for every major U.S. corporation out there.

But that is far from the truth….

What we are really seeing is an adoption of blockchain, not an acceptance of crypto. Three points in case: FedNow, DB and JP Morgan. When the US wanted to revamp its interbank payment system, it launched FedNow - a closed system in complete contradiction to the principles of public blockchain technology. Despite not being a blockchain itself, rumor has it that i…