The Blockchain & Web3 Outlook 2024/25 conference highlighted the growing success of Web3, with a focus on blockchain and the crypto market, but stagnation for NFTs. In Italy, investment is limited and concentrated in the financial sector. Challenges and opportunities for 2025 were discussed, stressing the risk of integration between traditional finance and crypto.
Italian banks, the San Paolo in particular, recently made the news for investing in Bitcoin, marking a change in the sector. North American pension funds are also reassessing cryptocurrencies. This approach contrasts with Satoshi Nakamoto’s original aim of decentralization, bringing traditional finance and Bitcoin together.
Nigeria is emerging as a potential crypto superpower, with a large youth population and growing use of cryptocurrencies to tackle problems of financial inclusion. Mobile money and cryptocurrency transactions are evolving rapidly, especially through services such as Kora, despite the country’s economic and political challenges.
2024 saw the SEC approve BlackRock’s Bitcoin ETF, while the scheduled halving brought no major changes to the market. For 2025, all eyes are on the impact of the Trump-Musk administration and possible developments for XRP, with optimistic forecasts of Bitcoin at $200k.
Staking is a less known feature of cryptocurrencies where investors can earn rewards. It is only employed in Proof of Stake (PoS) blockchains, like Ethereum, and not in Proof of Work (PoW) ones like Bitcoin. Staking allows for potential returns of 5-7% on Solana and Eth to a noteworthy 22% on Cosmos. It involves renting out cryptocurrencies to mining pools, which could significantly increase the weight of larger nodes in consensus formation. However, restrictions may apply, such as funds being locked for a certain period.
The European Central Bank (ECB) is launching the preparation phase for the digital euro from November 2023 with an anticipated duration of two years. To guard the European banking system, there is a proposal to limit individuals’ possession of digital euros to prevent moving deposits from commercial banks to the ECB. The digital euro aims to replace physical cash, enabling the highest level of privacy and instant payments for users across the euro area.
The European Central Bank (ECB) is analyzing the implementation of a digital euro, a central bank digital currency. The ECB faces challenges such as ensuring financial stability, protecting user’s privacy, emphasizing cybersecurity, maintaining interoperability with other payment systems, and providing inclusion for all users. Legal and regulatory considerations also need to be addressed. The ECB aims to create a digital euro that is safe, efficient, and universally accessible.
